I. ORIGINAL DEAL PARAMETERS
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Cut off Date:
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February 2, 2022
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Closing Date:
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March 16, 2022
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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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1,583,031,004.06
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64,842
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3.40
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%
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57.73
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Original Adj. Pool Balance:
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$
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1,503,552,585.34
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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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284,400,000.00
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17.966
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%
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0.72421
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%
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March 15, 2023
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Class A-2-A Notes
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Fixed
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$
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424,000,000.00
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26.784
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%
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1.81000
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%
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February 18, 2025
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Class A-2-B Notes
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Floating
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$
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95,000,000.00
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6.001
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%
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SOFR + 0.63
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%
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February 18, 2025
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Class A-3 Notes
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Fixed
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$
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484,200,000.00
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30.587
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%
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2.22000
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%
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October 15, 2026
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Class A-4 Notes
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Fixed
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$
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106,200,000.00
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6.709
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%
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2.35000
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%
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April 17, 2028
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Class B Notes
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Fixed
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$
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27,100,000.00
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1.712
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%
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2.62000
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%
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April 17, 2028
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Class C Notes
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Fixed
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$
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45,100,000.00
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2.849
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%
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2.97000
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%
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October 16, 2028
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Total Securities
|
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$
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1,466,000,000.00
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92.607
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%
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Overcollateralization
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$
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37,552,585.34
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2.372
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%
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YSOA
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$
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79,478,418.72
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5.021
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%
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Total Original Pool Balance
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$
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1,583,031,004.06
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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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-
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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-B 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-3 Notes
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$
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304,340,568.68
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0.6285431
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$
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278,978,173.05
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0.5761631
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$
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25,362,395.63
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Class A-4 Notes
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$
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106,200,000.00
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1.0000000
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$
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106,200,000.00
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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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27,100,000.00
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1.0000000
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$
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27,100,000.00
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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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45,100,000.00
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1.0000000
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$
|
45,100,000.00
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|
1.0000000
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$
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-
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Total Securities
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$
|
482,740,568.68
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0.3292910
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$
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457,378,173.05
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0.3119906
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$
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25,362,395.63
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Weighted Avg. Coupon (WAC)
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3.43
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%
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3.45
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%
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Weighted Avg. Remaining Maturity (WARM)
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31.56
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30.71
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Pool Receivables Balance
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$
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548,618,826.90
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$
|
521,870,214.22
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Remaining Number of Receivables
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42,399
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|
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|
41,581
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Adjusted Pool Balance
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$
|
527,847,146.24
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$
|
502,484,750.61
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III. COLLECTIONS
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Principal:
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Principal Collections
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|
$
|
26,288,766.69
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|
Repurchased Contract Proceeds Related to Principal
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|
|
$
|
-
|
|
Recoveries/Liquidation Proceeds
|
|
|
$
|
529,213.96
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|
Total Principal Collections
|
|
|
$
|
26,817,980.65
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|
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Interest:
|
Interest Collections
|
|
|
$
|
1,560,034.09
|
|
Late Fees & Other Charges
|
|
|
$
|
58,988.56
|
|
Interest on Repurchase Principal
|
|
|
$
|
-
|
|
Total Interest Collections
|
|
|
$
|
1,619,022.65
|
|
|
|
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|
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|
|
|
|
|
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|
|
Collection Account Interest
|
|
|
$
|
115,621.19
|
|
Reserve Account Interest
|
|
|
$
|
16,017.68
|
|
Servicer Advances
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total Collections
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|
|
$
|
28,568,642.17
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|
IV. DISTRIBUTIONS
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Total Collections
|
|
|
$
|
28,568,642.17
|
|
Reserve Account Release
|
|
|
$
|
-
|
|
Reserve Account Draw
|
|
|
$
|
-
|
|
Total Available for Distribution
|
|
|
$
|
28,568,642.17
|
|
|
|
|
|
Amount Due
|
|
|
Interest Pymt Due
but unpaid from prior
periods
|
|
|
Amount Paid
|
|
|
|
|
|
|
|
|
|
1. Servicing Fee @1.00%:
|
Servicing Fee Due
|
1.00
|
%
|
$
|
457,182.36
|
|
|
$
|
-
|
|
|
$
|
457,182.36
|
|
|
|
|
|
|
|
457,182.36
|
|
Collection & Reserve Account Interest
|
|
|
$
|
131,638.87
|
|
Late Fees & Other Charges
|
|
|
$
|
58,988.56
|
|
Total due to Servicer
|
|
|
$
|
647,809.79
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2. Class A Noteholders Interest:
|
Class A-1 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A-2-A Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A-2-B Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A-3 Notes
|
|
|
$
|
563,030.05
|
|
|
|
|
|
|
$
|
563,030.05
|
|
|
|
|
|
|
|
|
|
Class A-4 Notes
|
|
|
$
|
207,975.00
|
|
|
|
|
|
|
$
|
207,975.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Class A interest:
|
|
|
$
|
771,005.05
|
|
|
|
|
|
|
$
|
771,005.05
|
|
|
|
|
|
|
|
771,005.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. First Priority Principal Distribution:
|
|
|
$
|
0.00
|
|
|
|
|
|
|
$
|
0.00
|
|
|
|
|
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4. Class B Noteholders Interest:
|
|
|
$
|
59,168.33
|
|
|
|
|
|
|
$
|
59,168.33
|
|
|
|
|
|
|
|
59,168.33
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5. Second Priority Principal Distribution:
|
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|
$
|
0.00
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6. Class C Noteholders Interest:
|
|
|
$
|
111,622.50
|
|
|
|
|
|
|
$
|
111,622.50
|
|
|
|
|
|
|
|
111,622.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available Funds Remaining:
|
|
|
$
|
26,979,036.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7. Regular Principal Distribution Amount:
|
|
|
|
25,362,395.63
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributable Amount
|
|
|
|
|
|
|
Paid Amount
|
|
|
|
|
|
|
|
|
|
Class A-1 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A-2-A Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A-2-B Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A-3 Notes
|
|
|
$
|
25,362,395.63
|
|
|
|
|
|
|
|
|
|
Class A-4 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A Notes Total:
|
|
|
$
|
25,362,395.63
|
|
|
|
|
|
|
$
|
25,362,395.63
|
|
|
|
|
|
|
|
|
|
Class B Notes Total:
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class C Notes Total:
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Total Noteholders Principal
|
|
|
$
|
25,362,395.63
|
|
|
|
|
|
|
$
|
25,362,395.63
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8. Required Deposit to Reserve Account
|
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9. Trustee Expenses and Asset Representations Reviewer Expenses
|
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10. Remaining Available Collections Released to Certificateholder
|
|
|
|
1,616,640.87
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Period Required Amount
|
|
|
$
|
20,771,680.66
|
|
Beginning Period Amount
|
|
|
$
|
20,771,680.66
|
|
Current Period Amortization
|
|
|
$
|
1,386,217.05
|
|
Ending Period Required Amount
|
|
|
$
|
19,385,463.61
|
|
Ending Period Amount
|
|
|
$
|
19,385,463.61
|
|
Next Distribution Date Required Amount
|
|
|
$
|
18,050,673.88
|
|
VI. RESERVE ACCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.25
|
%
|
Beginning Period Required Amount
|
|
|
$
|
3,758,881.46
|
|
Beginning Period Amount
|
|
|
$
|
3,758,881.46
|
|
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)
|
|
|
$
|
3,758,881.46
|
|
Ending Period Amount
|
|
|
$
|
3,758,881.46
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
45,106,577.56
|
|
|
$
|
45,106,577.56
|
|
|
$
|
45,106,577.56
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
3.00
|
%
|
|
3.00
|
%
|
|
3.00
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
8.55
|
%
|
|
8.98
|
%
|
|
8.98
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.47
|
%
|
|
40,943
|
|
|
|
97.74
|
%
|
$
|
510,057,569.94
|
|
30 - 60 Days
|
|
|
1.18
|
%
|
|
492
|
|
|
|
1.73
|
%
|
$
|
9,011,681.12
|
|
61 - 90 Days
|
|
|
0.30
|
%
|
|
126
|
|
|
|
0.46
|
%
|
$
|
2,412,349.69
|
|
91-120 Days
|
|
|
0.05
|
%
|
|
19
|
|
|
|
0.07
|
%
|
$
|
375,698.59
|
|
121 + Days
|
|
|
0.00
|
%
|
|
1
|
|
|
|
0.00
|
%
|
$
|
12,914.88
|
|
Total
|
|
|
41,581
|
|
|
|
|
|
|
$
|
521,870,214.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.53
|
%
|
|
638
|
|
|
|
2.26
|
%
|
$
|
11,812,644.28
|
|
1st Preceding Collection Period
|
|
|
1.49
|
%
|
|
632
|
|
|
|
2.21
|
%
|
$
|
12,147,751.28
|
|
2nd Preceding Collection Period
|
|
|
1.42
|
%
|
|
616
|
|
|
|
2.14
|
%
|
$
|
12,341,410.28
|
|
3rd Preceding Collection Period
|
|
|
1.49
|
%
|
|
656
|
|
|
|
2.21
|
%
|
$
|
13,381,991.22
|
|
Four-Month Average
|
|
|
1.48
|
%
|
|
|
|
|
|
|
2.21
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.54
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
25
|
|
|
|
|
|
|
$
|
468,043.14
|
|
Repossession Inventory
|
|
|
54
|
|
|
|
|
|
|
$
|
1,107,846.06
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
459,845.99
|
|
Recoveries
|
|
|
$
|
(529,213.96
|
)
|
Net Loss
|
|
|
$
|
(69,367.97
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
-0.15
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
535,244,520.56
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
-0.16
|
%
|
1st Preceding Collection Period
|
|
|
|
0.66
|
%
|
2nd Preceding Collection Period
|
|
|
|
0.23
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.70
|
%
|
Four-Month Average
|
|
|
|
0.36
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from
prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
34
|
|
|
|
1,120
|
|
|
$
|
23,120,875.95
|
|
Recoveries
|
|
|
39
|
|
|
|
849
|
|
|
$
|
(11,177,638.88
|
)
|
Net Loss
|
|
|
$
|
11,943,237.07
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.75
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
32
|
|
|
|
986
|
|
|
$
|
11,943,237.07
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
12,112.82
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
2,972,678.34
|
|
Number of Extensions
|
|
|
|
159
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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.
|