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