EX-99.1 2 tm2521327d33_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

World Omni Auto Receivables Trust 2024-B
Monthly Servicer Certificate
June 30, 2025

 

Dates Covered               
Collections Period   06/01/25 - 06/30/25           
Interest Accrual Period   06/16/25 - 07/14/25           
30/360 Days   30           
Actual/360 Days   29           
Distribution Date   07/15/25           
                
Collateral Pool Balance Data   $ Amount    # of Accounts      
Pool Balance at 05/31/25   729,194,746.55    33,764      
Yield Supplement Overcollateralization Amount 05/31/25   50,144,552.37    0      
Receivables Balance 05/31/25   779,339,298.92    33,764      
Principal Payments   33,065,470.34    1,145      
Defaulted Receivables   1,063,477.33    35      
Repurchased Accounts   0.00    0      
Yield Supplement Overcollateralization Amount at 06/30/25   47,255,346.95    0      
Pool Balance at 06/30/25   697,955,004.30    32,584      
                
Pool Statistics   $ Amount    # of Accounts      
Pool Factor   55.82%          
Prepayment ABS Speed   1.79%          
Aggregate Starting Principal Balance   1,335,109,741.10    47,844      
                
                
Delinquent Receivables:               
Past Due 31-60 days   9,487,008.71    357      
Past Due 61-90 days   3,164,900.67    111      
Past Due 91-120 days   409,493.82    21      
Past Due 121+ days   0.00    0      
Total   13,061,403.20    489      
                
Total 31+ Delinquent as % Aggregate Ending Principal Balance   1.75%          
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.48%          
Delinquency Trigger Occurred   NO           
                
Recoveries   955,913.32           
Aggregate Net Losses/(Gains) - June 2025   107,564.01           
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):           
Current Net Losses/(Gains) Ratio   0.17%          
Prior Net Losses/(Gains) Ratio   0.89%          
Second Prior Net Losses/(Gains) Ratio   -0.16%          
Third Prior Net Losses/(Gains) Ratio   0.66%          
Four Month Average   0.39%          
                
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   0.49%          
                
Overcollateralization Target Amount   6,281,595.04           
Actual Overcollateralization   6,281,595.04           
Weighted Average Contract Rate   7.41%          
Weighted Average Contract Rate, Yield Adjusted   10.92%          
Weighted Average Remaining Term   50.73           
                
Flow of Funds   $ Amount           
Collections   38,805,933.06           
Investment Earnings on Cash Accounts   30,728.98           
Servicing Fee   (649,449.42)          
Transfer to Collection Account   -           
Available Funds   38,187,212.62           
                
Distributions of Available Funds               
    (1)  Asset Representation Reviewer Amounts (up to $150,000 per year)   -           
    (2)  Class A Interest   2,893,088.58           
    (3)  Noteholders' First Priority Principal Distributable Amount   -           
    (4)  Class B Interest   165,883.33           
    (5)  Noteholders' Second Priority Principal Distributable Amount   6,176,989.53           
    (6)  Class C Interest   84,329.17           
    (7)  Noteholders' Third Priority Principal Distributable Amount   18,500,000.00           
    (8)  Required Reserve Account   -           
    (9)  Noteholders' Principal Distributable Amount   6,281,595.04           
   (10)  Asset Representation Reviewer Amounts (in excess of 1)   -           
   (11)  Distribution to Certificateholders   4,085,326.97           
                
Total Distributions of Available Funds   38,187,212.62           
                
Servicing Fee   649,449.42           
Unpaid Servicing Fee   -           
Change in amount of the unpaid servicing fee from the prior period   -           

 

 

 

 

Note Balances & Note Factors   $ Amount           
Original Class A   1,176,800,000.00           
Original Class B   37,000,000.00           
Original Class C   18,500,000.00           
                
Total Class A, B, & C               
Note Balance @ 06/16/25   722,631,993.83           
Principal Paid   30,958,584.57           
Note Balance @ 07/15/25   691,673,409.26           
                
Class A-1               
Note Balance @ 06/16/25   0.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   0.00           
Note Factor @ 07/15/25   0.0000000%          
                
Class A-2a               
Note Balance @ 06/16/25   69,466,508.19           
Principal Paid   14,449,747.76           
Note Balance @ 07/15/25   55,016,760.43           
Note Factor @ 07/15/25   27.5083802%          
                
Class A-2b               
Note Balance @ 06/16/25   79,365,485.64           
Principal Paid   16,508,836.81           
Note Balance @ 07/15/25   62,856,648.83           
Note Factor @ 07/15/25   27.5083802%          
                
Class A-3               
Note Balance @ 06/16/25   428,500,000.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   428,500,000.00           
Note Factor @ 07/15/25   100.0000000%          
                
Class A-4               
Note Balance @ 06/16/25   89,800,000.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   89,800,000.00           
Note Factor @ 07/15/25   100.0000000%          
                
Class B               
Note Balance @ 06/16/25   37,000,000.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   37,000,000.00           
Note Factor @ 07/15/25   100.0000000%          
                
Class C               
Note Balance @ 06/16/25   18,500,000.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   18,500,000.00           
Note Factor @ 07/15/25   100.0000000%          
                
Interest & Principal Payments   $ Amount           
Total Interest Paid   3,143,301.08           
Total Principal Paid   30,958,584.57           
Total Paid   34,101,885.65           
                
Class A-1               
Coupon   5.53400%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-1 Holders   0.00           
                
Class A-2a               
Coupon   5.48000%          
Interest Paid   317,230.39           
Principal Paid   14,449,747.76           
Total Paid to A-2a Holders   14,766,978.15           
                
Class A-2b               
SOFR Rate   4.30385%          
Coupon   4.73385%          
Interest Paid   302,650.69           
Principal Paid   16,508,836.81           
Total Paid to A-2b Holders   16,811,487.50           
                
Class A-3               
Coupon   5.27000%          
Interest Paid   1,881,829.17           
Principal Paid   0.00           
Total Paid to A-3 Holders   1,881,829.17           
                
Class A-4               
Coupon   5.23000%          
Interest Paid   391,378.33           
Principal Paid   0.00           
Total Paid to A-4 Holders   391,378.33           
                
Class B               
Coupon   5.38000%          
Interest Paid   165,883.33           
Principal Paid   0.00           
Total Paid to B Holders   165,883.33           

 

 

 

 

Class C               
Coupon   5.47000%          
Interest Paid   84,329.17           
Principal Paid   0.00           
Total Paid to C Holders   84,329.17           
                
Distribution per $1,000 of Notes   Total           
Total Interest Distribution Amount   2.5507596           
Total Interest Carryover Shortfall   0.0000000           
Total Principal Distribution Amount   25.1226037           
Total Distribution Amount   27.6733633           
                
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   1.5861520           
A-2a Interest Carryover Shortfall   0.0000000           
A-2a  Principal Distribution Amount   72.2487388           
Total A-2a  Distribution Amount   73.8348908           
                
A-2b  Interest Distribution Amount   1.3245107           
A-2b Interest Carryover Shortfall   0.0000000           
A-2b  Principal Distribution Amount   72.2487388           
Total A-2b  Distribution Amount   73.5732495           
                
A-3 Interest Distribution Amount   4.3916667           
A-3 Interest Carryover Shortfall   0.0000000           
A-3 Principal Distribution Amount   0.0000000           
Total A-3 Distribution Amount   4.3916667           
                
A-4 Interest Distribution Amount   4.3583333           
A-4 Interest Carryover Shortfall   0.0000000           
A-4 Principal Distribution Amount   0.0000000           
Total A-4 Distribution Amount   4.3583333           
                
B Interest Distribution Amount   4.4833332           
B Interest Carryover Shortfall   0.0000000           
B Principal Distribution Amount   0.0000000           
Total B Distribution Amount   4.4833332           
                
C Interest Distribution Amount   4.5583335           
C Interest Carryover Shortfall   0.0000000           
C Principal Distribution Amount   0.0000000           
Total C Distribution Amount   4.5583335           
                
Noteholders' First Priority Principal Distributable Amount   0.00           
Noteholders' Second Priority Principal Distributable Amount   199.53           
Noteholders' Third Priority Principal Distributable Amount   597.57           
Noteholders' Principal Distributable Amount   202.90           
                
Account Balances   $ Amount           
Reserve Account               
Balance as of 06/16/25   3,080,896.88           
Investment Earnings   10,801.71           
Investment Earnings Paid   (10,801.71)          
Deposit/(Withdrawal)   -           
Balance as of 07/15/25   3,080,896.88           
Change   -           
                
Required Reserve Amount   3,080,896.88