World Omni Auto Receivables Trust 2020-C

06/28/2024 | Press release | Distributed by Public on 06/28/2024 04:54

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2020-C

Monthly Servicer Certificate

May 31, 2024

Dates Covered
Collections Period 05/01/24 - 05/31/24
Interest Accrual Period 05/15/24 - 06/16/24
30/360 Days 30
Actual/360 Days 33
Distribution Date 06/17/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 04/30/24 177,013,002.30 18,841
Yield Supplement Overcollateralization Amount 04/30/24 2,438,745.14 0
Receivables Balance 04/30/24 179,451,747.44 18,841
Principal Payments 11,650,387.03 424
Defaulted Receivables 95,975.79 6
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 05/31/24 2,170,229.57 0
Pool Balance at 05/31/24 165,535,155.05 18,411
Pool Statistics $ Amount # of Accounts
Pool Factor 12.72 %
Prepayment ABS Speed 1.11 %
Aggregate Starting Principal Balance 1,318,405,815.29 46,124
Delinquent Receivables:
Past Due 31-60 days 2,133,007.46 158
Past Due 61-90 days 672,724.41 46
Past Due 91-120 days 130,778.23 11
Past Due 121+ days 0.00 0
Total 2,936,510.10 215
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.75 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.48 %
Delinquency Trigger Occurred NO
Recoveries 113,778.04
Aggregate Net Losses/(Gains) - May 2024 (17,802.25 )
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio -0.12 %
Prior Net Losses/(Gains) Ratio -0.65 %
Second Prior Net Losses/(Gains) Ratio -0.01 %
Third Prior Net Losses/(Gains) Ratio -0.58 %
Four Month Average -0.34 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.32 %
Overcollateralization Target Amount 6,324,057.64
Actual Overcollateralization 6,324,057.64
Weighted Average Contract Rate 4.15 %
Weighted Average Contract Rate, Yield Adjusted 5.72 %
Weighted Average Remaining Term 21.93
Flow of Funds $ Amount
Collections 12,376,742.69
Investment Earnings on Cash Accounts 57,969.98
Servicing Fee (149,543.12 )
Transfer to Collection Account -
Available Funds 12,285,169.55
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) 0.00
(2) Class A Interest 56,941.41
(3) Noteholders' First Priority Principal Distributable Amount 0.00
(4) Class B Interest 27,383.25
(5) Noteholders' Second Priority Principal Distributable Amount 0.00
(6) Class C Interest 21,892.50
(7) Noteholders' Third Priority Principal Distributable Amount 5,153,789.61
(8) Required Reserve Account 0.00
(9) Noteholders' Principal Distributable Amount 6,324,057.64
(10) Asset Representation Reviewer Amounts (in excess of 1) 0.00
(11) Distribution to Certificateholders 701,105.14
Total Distributions of Available Funds 12,285,169.55
Servicing Fee 149,543.12
Unpaid Servicing Fee 0.00
Change in amount of the unpaid servicing fee from the prior period 0.00
Note Balances & Note Factors $ Amount
Original Class A 1,199,070,000.00
Original Class B 37,770,000.00
Original Class C 18,900,000.00
Total Class A, B, & C
Note Balance @ 05/15/24 170,688,944.66
Principal Paid 11,477,847.25
Note Balance @ 06/17/24 159,211,097.41
Class A-1
Note Balance @ 05/15/24 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-2
Note Balance @ 05/15/24 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-3
Note Balance @ 05/15/24 9,398,944.66
Principal Paid 9,398,944.66
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-4
Note Balance @ 05/15/24 104,620,000.00
Principal Paid 2,078,902.59
Note Balance @ 06/17/24 102,541,097.41
Note Factor @ 06/17/24 98.0129014 %
Class B
Note Balance @ 05/15/24 37,770,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 37,770,000.00
Note Factor @ 06/17/24 100.0000000 %
Class C
Note Balance @ 05/15/24 18,900,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 18,900,000.00
Note Factor @ 06/17/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 106,217.16
Total Principal Paid 11,477,847.25
Total Paid 11,584,064.41
Class A-1
Coupon 0.20684 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.35000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.48000 %
Interest Paid 3,759.58
Principal Paid 9,398,944.66
Total Paid to A-3 Holders 9,402,704.24
Class A-4
Coupon 0.61000 %
Interest Paid 53,181.83
Principal Paid 2,078,902.59
Total Paid to A-4 Holders 2,132,084.42
Class B
Coupon 0.87000 %
Interest Paid 27,383.25
Principal Paid 0.00
Total Paid to B Holders 27,383.25
Class C
Coupon 1.39000 %
Interest Paid 21,892.50
Principal Paid 0.00
Total Paid to C Holders 21,892.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.0845853
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 9.1403055
Total Distribution Amount 9.2248908
A-1 Interest Distribution Amount 0.0000000
A-1 Interest Carryover Shortfall 0.0000000
A-1 Principal Distribution Amount 0.0000000
Total A-1 Distribution Amount 0.0000000
A-2 Interest Distribution Amount 0.0000000
A-2 Interest Carryover Shortfall 0.0000000
A-2 Principal Distribution Amount 0.0000000
Total A-2 Distribution Amount 0.0000000
A-3 Interest Distribution Amount 0.0090221
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 22.5551215
Total A-3 Distribution Amount 22.5641436
A-4 Interest Distribution Amount 0.5083333
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 19.8709863
Total A-4 Distribution Amount 20.3793196
B Interest Distribution Amount 0.7250000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.7250000
C Interest Distribution Amount 1.1583333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 1.1583333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 449.02
Noteholders' Principal Distributable Amount 550.98
Account Balances $ Amount
Reserve Account
Balance as of 05/15/24 12,588,844.52
Investment Earnings 56,080.42
Investment Earnings Paid (56,080.42 )
Deposit/(Withdrawal) -
Balance as of 06/17/24 12,588,844.52
Change -
Required Reserve Amount 12,588,844.52
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 667,712.91 $ 967,913.79 $ 801,727.24
Number of Extensions 57 73 60
Ratio of extensions to Beginning of Period Receivables Balance 0.37 % 0.50 % 0.39 %