EX-99.1 2 tm2426578d22_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

World Omni Auto Receivables Trust 2020-C      
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   133,233,654.31    17,275      
Yield Supplement Overcollateralization Amount 08/31/24   1,494,921.01    0      
Receivables Balance 08/31/24   134,728,575.32    17,275      
Principal Payments   10,011,583.05    393      
Defaulted Receivables   97,759.39    9      
Repurchased Accounts   0.00    0      
Yield Supplement Overcollateralization Amount at 09/30/24   1,310,883.11    0      
Pool Balance at 09/30/24   123,308,349.77    16,873      
                
Pool Statistics   $ Amount    # of Accounts      
Pool Factor   9.45%          
Prepayment ABS Speed   1.10%          
Aggregate Starting Principal Balance   1,318,405,815.29    46,124      
                
Delinquent Receivables:               
Past Due 31-60 days   2,332,354.87    204      
Past Due 61-90 days   572,226.95    45      
Past Due 91-120 days   178,159.39    14      
Past Due 121+ days   0.00    0      
 Total   3,082,741.21    263      
                
Total 31+ Delinquent as % Aggregate Ending Principal Balance   2.47%          
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.60%          
Delinquency Trigger Occurred   NO           
                
Recoveries   211,522.62           
Aggregate Net Losses/(Gains) - September 2024   (113,763.23)          
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):               
Current Net Losses/(Gains) Ratio   -1.01%          
Prior Net Losses/(Gains) Ratio   -0.30%          
Second Prior Net Losses/(Gains) Ratio   -0.25%          
Third Prior Net Losses/(Gains) Ratio   0.24%          
Four Month Average   -0.33%          
                
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   0.31%          
                
Overcollateralization Target Amount   6,324,057.64           
Actual Overcollateralization   123,308,349.77           
Weighted Average Contract Rate   4.26%          
Weighted Average Contract Rate, Yield Adjusted   5.74%          
Weighted Average Remaining Term   18.67           
                
Flow of Funds   $ Amount           
Collections   10,696,291.20           
Investment Earnings on Cash Accounts   53,771.83           
Reserve Fund Balance   12,588,844.52           
Servicing Fee   (112,273.81)          
Aggregate Purchase Amount   124,716,992.27           
Transfer to Collection Account   -           
Available Funds   147,943,626.01           
                
Distributions of Available Funds               
    (1)  Asset Representation Reviewer Amounts (up to $150,000 per year)   0.00           
    (2)  Class A Interest   35,705.13           
    (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   3,601,246.90           
    (8)  Required Reserve Account   0.00           
    (9)  Noteholders' Principal Distributable Amount   123,308,349.77           
   (10)  Asset Representation Reviewer Amounts (in excess of 1)   0.00           
   (11)  Distribution to Certificateholders   20,949,048.46           
                
Total Distributions of Available Funds   147,943,626.01           
                
Servicing Fee   112,273.81           
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 @ 09/16/24   126,909,596.67           
Principal Paid   126,909,596.67           
Note Balance @ 10/15/24   0.00           
                
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-2               
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-3               
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-4               
Note Balance @ 09/16/24   70,239,596.67           
Principal Paid   70,239,596.67           
Note Balance @ 10/15/24   0.00           
Note Factor @ 10/15/24   0.0000000%          
                
Class B               
Note Balance @ 09/16/24   37,770,000.00           
Principal Paid   37,770,000.00           
Note Balance @ 10/15/24   0.00           
Note Factor @ 10/15/24   0.0000000%          
                
Class C               
Note Balance @ 09/16/24   18,900,000.00           
Principal Paid   18,900,000.00           
Note Balance @ 10/15/24   0.00           
Note Factor @ 10/15/24   0.0000000%          
                
Interest & Principal Payments   $ Amount           
Total Interest Paid   84,980.88           
Total Principal Paid   126,909,596.67           
Total Paid   126,994,577.55           
                
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   0.00           
Principal Paid   0.00           
Total Paid to A-3 Holders   0.00           
                
Class A-4               
Coupon   0.61000%          
Interest Paid   35,705.13           
Principal Paid   70,239,596.67           
Total Paid to A-4 Holders   70,275,301.80           
                
Class B               
Coupon   0.87000%          
Interest Paid   27,383.25           
Principal Paid   37,770,000.00           
Total Paid to B Holders   37,797,383.25           
                
Class C               
Coupon   1.39000%          
Interest Paid   21,892.50           
Principal Paid   18,900,000.00           
Total Paid to C Holders   18,921,892.50           

 

 

 

 

Distribution per $1,000 of Notes    Total            
Total Interest Distribution Amount   0.0676739           
Total Interest Carryover Shortfall   0.0000000           
Total Principal Distribution Amount   101.0635933           
Total Distribution Amount   101.1312672           
                
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   0.0000000           
A-3 Interest Carryover Shortfall   0.0000000           
A-3 Principal Distribution Amount   0.0000000           
Total A-3 Distribution Amount   0.0000000           
                
A-4 Interest Distribution Amount   0.3412840           
A-4 Interest Carryover Shortfall   0.0000000           
A-4 Principal Distribution Amount   671.3782897           
Total A-4 Distribution Amount   671.7195737           
                
B Interest Distribution Amount   0.7250000           
B Interest Carryover Shortfall   0.0000000           
B Principal Distribution Amount   1000.0000000           
Total B Distribution Amount   1,000.7250000           
                
C Interest Distribution Amount   1.1583333           
C Interest Carryover Shortfall   0.0000000           
C Principal Distribution Amount   1000.0000000           
Total C Distribution Amount   1,001.1583333           
                
Noteholders' First Priority Principal Distributable Amount   0.00           
Noteholders' Second Priority Principal Distributable Amount   0.00           
Noteholders' Third Priority Principal Distributable Amount   28.38           
Noteholders' Principal Distributable Amount   971.62           
                
Account Balances   $ Amount           
Reserve Account               
Balance as of 09/16/24   12,588,844.52           
Investment Earnings   52,148.52           
Investment Earnings Paid   (52,148.52)          
Deposit/(Withdrawal)   (12,588,844.52)          
Balance as of 10/15/24   0.00           
Change   (12,588,844.52)          
                
Required Reserve Amount   0.00           
                
Other Servicing Information   Current Month    Prior Month    Two Months Prior 
Principal Balance of Receivables extended during the Collection Period  $662,312.40   $676,161.34   $1,005,957.72 
Number of Extensions   65    62    86 
Ratio of extensions to Beginning of Period Receivables Balance   0.49%   0.46%   0.64%