World Omni Auto Receivables Trust 2024-A

10/29/2024 | Press release | Distributed by Public on 10/29/2024 05:29

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2024-A

Monthly Servicer Certificate

September 30, 2024

Dates Covered
Collections Period 09/01/24 - 09/30/24
Interest Accrual Period 09/16/24 - 10/14/24
30/360 Days 30
Actual/360 Days 29
Distribution Date 10/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 08/31/24 959,827,761.10 36,119
Yield Supplement Overcollateralization Amount 08/31/24 78,723,651.88 0
Receivables Balance 08/31/24 1,038,551,412.98 36,119
Principal Payments 36,110,211.05 636
Defaulted Receivables 1,429,891.79 41
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 09/30/24 74,741,405.84 0
Pool Balance at 09/30/24 926,269,904.30 35,442
Pool Statistics $ Amount # of Accounts
Pool Factor 74.50 %
Prepayment ABS Speed 1.62 %
Aggregate Starting Principal Balance 1,343,677,474.68 40,916
Delinquent Receivables:
Past Due 31-60 days 11,799,421.78 345
Past Due 61-90 days 3,165,846.11 94
Past Due 91-120 days 855,609.79 31
Past Due 121+ days 0.00 0
Total 15,820,877.68 470
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.58 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.40 %
Delinquency Trigger Occurred NO
Recoveries 682,665.13
Aggregate Net Losses/(Gains) - September 2024 747,226.66
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.86 %
Prior Net Losses/(Gains) Ratio 1.00 %
Second Prior Net Losses/(Gains) Ratio 0.52 %
Third Prior Net Losses/(Gains) Ratio 0.31 %
Four Month Average 0.67 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.30 %
Overcollateralization Target Amount 10,652,103.90
Actual Overcollateralization 10,652,103.90
Weighted Average Contract Rate 6.56 %
Weighted Average Contract Rate, Yield Adjusted 10.48 %
Weighted Average Remaining Term 53.82
Flow of Funds $ Amount
Collections 42,435,129.19
Investment Earnings on Cash Accounts 19,043.81
Servicing Fee (865,459.51 )
Transfer to Collection Account -
Available Funds 41,588,713.49
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 3,757,934.45
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 156,390.25
(5) Noteholders' Second Priority Principal Distributable Amount 4,079,837.55
(6) Class C Interest 81,597.00
(7) Noteholders' Third Priority Principal Distributable Amount 18,440,000.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 10,652,103.90
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 4,420,850.34
Total Distributions of Available Funds 41,588,713.49
Servicing Fee 865,459.51
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 1,170,710,000.00
Original Class B 36,870,000.00
Original Class C 18,440,000.00
Total Class A, B, & C
Note Balance @ 09/16/24 948,789,741.85
Principal Paid 33,171,941.45
Note Balance @ 10/15/24 915,617,800.40
Class A-1
Note Balance @ 09/16/24 0.00
Principal Paid 0.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class A-2a
Note Balance @ 09/16/24 149,007,324.67
Principal Paid 13,311,247.91
Note Balance @ 10/15/24 135,696,076.76
Note Factor @ 10/15/24 77.8698937 %
Class A-2b
Note Balance @ 09/16/24 222,322,417.18
Principal Paid 19,860,693.54
Note Balance @ 10/15/24 202,461,723.64
Note Factor @ 10/15/24 77.8698937 %
Class A-3
Note Balance @ 09/16/24 434,260,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 434,260,000.00
Note Factor @ 10/15/24 100.0000000 %
Class A-4
Note Balance @ 09/16/24 87,890,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 87,890,000.00
Note Factor @ 10/15/24 100.0000000 %
Class B
Note Balance @ 09/16/24 36,870,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 36,870,000.00
Note Factor @ 10/15/24 100.0000000 %
Class C
Note Balance @ 09/16/24 18,440,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 18,440,000.00
Note Factor @ 10/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 3,995,921.70
Total Principal Paid 33,171,941.45
Total Paid 37,167,863.15
Class A-1
Coupon 5.51900 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.05000 %
Interest Paid 627,072.49
Principal Paid 13,311,247.91
Total Paid to A-2a Holders 13,938,320.40
Class A-2b
SOFR Rate 5.34207 %
Coupon 5.68207 %
Interest Paid 1,017,619.29
Principal Paid 19,860,693.54
Total Paid to A-2b Holders 20,878,312.83
Class A-3
Coupon 4.86000 %
Interest Paid 1,758,753.00
Principal Paid 0.00
Total Paid to A-3 Holders 1,758,753.00
Class A-4
Coupon 4.84000 %
Interest Paid 354,489.67
Principal Paid 0.00
Total Paid to A-4 Holders 354,489.67
Class B
Coupon 5.09000 %
Interest Paid 156,390.25
Principal Paid 0.00
Total Paid to B Holders 156,390.25
Class C
Coupon 5.31000 %
Interest Paid 81,597.00
Principal Paid 0.00
Total Paid to C Holders 81,597.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 3.2592631
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 27.0566071
Total Distribution Amount 30.3158702
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-2a Interest Distribution Amount 3.5984878
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 76.3872829
Total A-2a Distribution Amount 79.9857707
A-2b Interest Distribution Amount 3.9139203
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 76.3872828
Total A-2b Distribution Amount 80.3012031
A-3 Interest Distribution Amount 4.0500000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 4.0500000
A-4 Interest Distribution Amount 4.0333334
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 4.0333334
B Interest Distribution Amount 4.2416667
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 4.2416667
C Interest Distribution Amount 4.4250000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 4.4250000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 122.99
Noteholders' Third Priority Principal Distributable Amount 555.89
Noteholders' Principal Distributable Amount 321.12
Account Balances $ Amount
Reserve Account
Balance as of 09/16/24 3,072,738.16
Investment Earnings 12,728.63
Investment Earnings Paid (12,728.63 )
Deposit/(Withdrawal) -
Balance as of 10/15/24 3,072,738.16
Change -
Required Reserve Amount 3,072,738.16