Hyundai Auto Receivables Trust 2023-A
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Monthly Servicing Report
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Collection Period
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June 2024
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Distribution Date
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07/15/24
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Transaction Month
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15
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30/360 Days
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30
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Actual/360 Days
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28
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I. ORIGINAL DEAL PARAMETERS
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Cut off Date:
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February 21, 2023
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Closing Date:
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April 12, 2023
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Dollars
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Units
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WAC
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WARM
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Original Pool Balance:
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$
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1,829,751,290.65
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84,779
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3.72
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%
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50.68
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Original Adj. Pool Balance:
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$
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1,648,782,409.95
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Amount
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% of Pool
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Note Rate
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Final Payment Date
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Class A-1 Notes
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Fixed
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$
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335,060,000.00
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18.312
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%
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5.16700
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%
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April 15, 2024
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Class A-2-A Notes
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Fixed
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$
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364,400,000.00
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19.915
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%
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5.19000
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%
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December 15, 2025
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Class A-2-B Notes
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Floating
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$
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200,000,000.00
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10.930
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%
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SOFR + 0.75
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%
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December 15, 2025
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Class A-3 Notes
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Fixed
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$
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503,900,000.00
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27.539
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%
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4.58000
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%
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April 15, 2027
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Class A-4 Notes
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Fixed
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$
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125,000,000.00
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6.832
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%
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4.48000
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%
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July 17, 2028
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Class B Notes
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Fixed
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$
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29,700,000.00
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1.623
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%
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4.85000
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%
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July 17, 2028
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Class C Notes
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Fixed
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$
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49,500,000.00
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2.705
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%
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5.23000
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%
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February 15, 2030
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Total Securities
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$
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1,607,560,000.00
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87.857
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%
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Overcollateralization
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$
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41,222,409.95
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2.253
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%
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YSOA
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$
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180,968,880.70
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9.890
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%
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Total Original Pool Balance
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$
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1,829,751,290.65
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100.00
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%
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II. POOL BALANCE AND PORTFOLIO INFORMATION
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Beginning of Period
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Ending of Period
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Change
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Balance
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Note Factor
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Balance
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Note Factor
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Class A-1 Notes
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$
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-
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-
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$
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-
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-
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$
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-
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Class A-2-A Notes
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$
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130,022,238.89
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0.3568119
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$
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104,304,084.83
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0.2862351
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$
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25,718,154.06
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Class A-2-B Notes
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$
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71,362,370.41
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0.3568119
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$
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57,247,027.90
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0.2862351
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$
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14,115,342.52
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Class A-3 Notes
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$
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503,900,000.00
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1.0000000
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$
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503,900,000.00
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1.0000000
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$
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-
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Class A-4 Notes
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$
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125,000,000.00
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1.0000000
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$
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125,000,000.00
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1.0000000
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$
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-
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Class B Notes
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$
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29,700,000.00
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1.0000000
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$
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29,700,000.00
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1.0000000
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$
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-
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Class C Notes
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$
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49,500,000.00
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1.0000000
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$
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49,500,000.00
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1.0000000
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$
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-
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Total Securities
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$
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909,484,609.30
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0.5657547
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$
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869,651,112.72
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0.5409758
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$
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39,833,496.58
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Weighted Avg. Coupon (WAC)
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3.85
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%
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3.86
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%
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Weighted Avg. Remaining Maturity (WARM)
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36.50
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35.63
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Pool Receivables Balance
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$
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1,053,391,413.75
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$
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1,008,511,583.58
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Remaining Number of Receivables
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70,065
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68,969
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Adjusted Pool Balance
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$
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958,948,081.60
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$
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919,114,585.02
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III. COLLECTIONS
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Principal:
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Principal Collections
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$
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43,857,862.87
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Repurchased Contract Proceeds Related to Principal
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$
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-
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Recoveries/Liquidation Proceeds
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$
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320,741.97
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Total Principal Collections
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$
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44,178,604.84
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Interest:
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Interest Collections
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$
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3,341,547.69
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Late Fees & Other Charges
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$
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68,622.17
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Interest on Repurchase Principal
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$
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-
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Total Interest Collections
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$
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3,410,169.86
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Collection Account Interest
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$
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192,249.77
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Reserve Account Interest
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$
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17,703.44
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Servicer Advances
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$
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-
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Total Collections
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$
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47,798,727.91
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IV. DISTRIBUTIONS
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Total Collections
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$
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47,798,727.91
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Reserve Account Release
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$
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-
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Reserve Account Draw
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$
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-
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Total Available for Distribution
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$
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47,798,727.91
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Amount Due
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Interest Pymt Due
but unpaid from prior
periods
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Amount Paid
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1. Servicing Fee @1.00%:
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Servicing Fee Due
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1.00
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%
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$
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877,826.18
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$
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-
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$
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877,826.18
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877,826.18
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Collection & Reserve Account Interest
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$
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209,953.21
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Late Fees & Other Charges
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$
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68,622.17
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Total due to Servicer
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$
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1,156,401.56
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2. Class A Noteholders Interest:
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Class A-1 Notes
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$
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-
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$
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-
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Class A-2-A Notes
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$
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562,346.18
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$
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562,346.18
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Class A-2-B Notes
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$
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337,632.90
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$
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337,632.90
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Class A-3 Notes
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$
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1,923,218.33
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$
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1,923,218.33
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Class A-4 Notes
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$
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466,666.67
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$
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466,666.67
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Total Class A interest:
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$
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3,289,864.08
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$
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3,289,864.08
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3,289,864.08
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3. First Priority Principal Distribution:
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$
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0.00
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$
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0.00
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0.00
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4. Class B Noteholders Interest:
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$
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120,037.50
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$
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120,037.50
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120,037.50
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5. Second Priority Principal Distribution:
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$
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0.00
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$
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-
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0.00
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6. Class C Noteholders Interest:
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$
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215,737.50
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$
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215,737.50
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215,737.50
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Available Funds Remaining:
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$
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43,016,687.27
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7. Regular Principal Distribution Amount:
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39,833,496.58
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Distributable Amount
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Paid Amount
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Class A-1 Notes
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$
|
-
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|
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Class A-2-A Notes
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|
$
|
25,718,154.06
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Class A-2-B Notes
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|
$
|
14,115,342.52
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Class A-3 Notes
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$
|
-
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Class A-4 Notes
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|
$
|
-
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|
|
|
|
|
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|
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|
Class A Notes Total:
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$
|
39,833,496.58
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$
|
39,833,496.58
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Class B Notes Total:
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$
|
-
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$
|
-
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Class C Notes Total:
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$
|
-
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$
|
-
|
|
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|
|
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|
Total Noteholders Principal
|
|
|
$
|
39,833,496.58
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$
|
39,833,496.58
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8. Required Deposit to Reserve Account
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0.00
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9. Trustee Expenses and Asset Representations Reviewer Expenses
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0.00
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10. Remaining Available Collections Released to Certificateholder
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|
|
3,183,190.69
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Period Required Amount
|
|
|
$
|
94,443,332.15
|
|
Beginning Period Amount
|
|
|
$
|
94,443,332.15
|
|
Current Period Amortization
|
|
|
$
|
5,046,333.59
|
|
Ending Period Required Amount
|
|
|
$
|
89,396,998.56
|
|
Ending Period Amount
|
|
|
$
|
89,396,998.56
|
|
Next Distribution Date Required Amount
|
|
|
$
|
84,488,700.36
|
|
VI. RESERVE ACCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.25
|
%
|
Beginning Period Required Amount
|
|
|
$
|
4,121,956.02
|
|
Beginning Period Amount
|
|
|
$
|
4,121,956.02
|
|
Current Period Release to Collection Account
|
|
|
$
|
-
|
|
Current Period Deposit
|
|
|
$
|
-
|
|
Current Period Release to Depositor
|
|
|
$
|
-
|
|
Ending Period Required Amount (0.25% of APB of cut-off date)
|
|
|
$
|
4,121,956.02
|
|
Ending Period Amount
|
|
|
$
|
4,121,956.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
49,463,472.30
|
|
|
$
|
49,463,472.30
|
|
|
$
|
49,463,472.30
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
3.00
|
%
|
|
3.00
|
%
|
|
3.00
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
5.16
|
%
|
|
5.38
|
%
|
|
5.38
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.80
|
%
|
|
68,144
|
|
|
|
98.26
|
%
|
$
|
990,962,813.44
|
|
30 - 60 Days
|
|
|
0.93
|
%
|
|
640
|
|
|
|
1.34
|
%
|
$
|
13,541,277.50
|
|
61 - 90 Days
|
|
|
0.23
|
%
|
|
161
|
|
|
|
0.34
|
%
|
$
|
3,457,464.29
|
|
91-120 Days
|
|
|
0.03
|
%
|
|
23
|
|
|
|
0.05
|
%
|
$
|
513,829.07
|
|
121 + Days
|
|
|
0.00
|
%
|
|
1
|
|
|
|
0.00
|
%
|
$
|
36,199.28
|
|
Total
|
|
|
68,969
|
|
|
|
|
|
|
$
|
1,008,511,583.58
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.20
|
%
|
|
825
|
|
|
|
1.74
|
%
|
$
|
17,548,770.14
|
|
1st Preceding Collection Period
|
|
|
1.12
|
%
|
|
784
|
|
|
|
1.62
|
%
|
$
|
17,035,886.62
|
|
2nd Preceding Collection Period
|
|
|
1.05
|
%
|
|
750
|
|
|
|
1.50
|
%
|
$
|
16,540,833.07
|
|
3rd Preceding Collection Period
|
|
|
1.00
|
%
|
|
720
|
|
|
|
1.40
|
%
|
$
|
16,089,371.94
|
|
Four-Month Average
|
|
|
1.09
|
%
|
|
|
|
|
|
|
1.56
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.40
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
45
|
|
|
|
|
|
|
$
|
953,080.48
|
|
Repossession Inventory
|
|
|
84
|
|
|
|
|
|
|
$
|
1,809,792.07
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
1,021,967.30
|
|
Recoveries
|
|
|
$
|
(320,741.97
|
)
|
Net Loss
|
|
|
$
|
701,225.33
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
0.80
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
1,030,951,498.67
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
0.82
|
%
|
1st Preceding Collection Period
|
|
|
|
0.13
|
%
|
2nd Preceding Collection Period
|
|
|
|
0.67
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.38
|
%
|
Four-Month Average
|
|
|
|
0.50
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from
prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
62
|
|
|
|
688
|
|
|
$
|
13,721,624.63
|
|
Recoveries
|
|
|
38
|
|
|
|
453
|
|
|
$
|
(5,172,691.43
|
)
|
Net Loss
|
|
|
$
|
8,548,933.20
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.47
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
54
|
|
|
|
616
|
|
|
$
|
8,548,933.20
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
13,878.14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
4,275,030.56
|
|
Number of Extensions
|
|
|
|
205
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excludes receivables with recovered amounts equal to or in excess of principal charge-offs due to the recovery of assessments, such as interest and fees.
|