EX-99.1 2 tm2012873d3_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

World Omni Auto Receivables Trust 2017-A

Monthly Servicer Certificate

February 29, 2020    

 

Dates Covered        
Collections Period   02/01/20 - 02/29/20      
Interest Accrual Period   02/18/20 - 03/15/20      
30/360 Days   30      
Actual/360 Days   27      
Distribution Date   03/16/20      
           
Collateral Pool Balance Data   $ Amount    # of Accounts 
Pool Balance at 01/31/20   328,686,932.87    25,139 
Yield Supplement Overcollateralization Amount 01/31/20   12,228,203.36    0 
Receivables Balance 01/31/20   340,915,136.23    25,139 
Principal Payments   14,812,466.32    467 
Defaulted Receivables   844,470.14    55 
Repurchased Accounts   0.00    0 
Yield Supplement Overcollateralization Amount at 02/29/20   11,376,913.10    0 
Pool Balance at 02/29/20   313,881,286.67    24,617 
           
Pool Statistics   $ Amount    # of Accounts 
Pool Factor   23.72%     
Prepayment ABS Speed   1.08%     
Aggregate Starting Principal Balance   1,371,460,827.67    64,939 
           
Delinquent Receivables:          
Past Due 31-60 days   7,538,999.48    467 
Past Due 61-90 days   2,513,096.00    148 
Past Due 91-120 days   280,813.31    24 
Past Due 121+ days   0.00    0 
 Total   10,332,908.79    639 
           
Total 31+ Delinquent as % Aggregate Ending Principal Balance   3.18%     
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.86%     
Delinquency Trigger Occurred   NO      
           
Recoveries   507,727.26      
Aggregate Net Losses/(Gains) - February 2020   336,742.88      
Ratio of Net Loss to the Receivables Balance as of beginning of Collection Period (Annualized):          
Current Net Losses Ratio   1.19%     
Prior Net Losses Ratio   1.29%     
Second Prior Net Losses Ratio   1.94%     
Third Prior Net Losses Ratio   2.43%     
Four Month Average   1.71%     
           
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   2.16%     
           
Overcollateralization Target Amount   14,124,657.90      
Actual Overcollateralization   14,124,657.90      
Weighted Average APR   3.92%     
Weighted Average APR, Yield Adjusted   6.59%     
Weighted Average Remaining Term   33.86      
           
Flow of Funds   $ Amount      
           
Collections   16,387,322.48      
Investment Earnings on Cash Accounts   7,886.08      
Servicing Fee   (284,095.95)     
Transfer to Collection Account   0.00      
Available Funds   16,111,112.61      
           
Distributions of Available Funds          
    (1)  Asset Representation Reviewer Amounts (up to $150,000 per year)   0.00      
    (2)  Class A Interest   473,517.35      
    (3)  Noteholders' First Priority Principal Distributable Amount   0.00      
    (4)  Class B Interest   68,821.67      
    (5)  Noteholders' Second Priority Principal Distributable Amount   14,734.22      
    (6)  Required Reserve Account   0.00      
    (7)  Noteholders' Principal Distributable Amount   14,124,657.90      
    (8)  Asset Representation Reviewer Amounts (in excess of 1)   0.00      
    (9)  Distribution to Certificateholders   1,429,381.47      
           
Total Distributions of Available Funds   16,111,112.61      
           
Servicing Fee   284,095.95      
Unpaid Servicing Fee   -      
Change in amount of the unpaid servicing fee from the prior period   -      

 

 

 

Note Balances & Note Factors   $ Amount      
           
Original Class A   1,221,750,000.00      
Original Class B   34,700,000.00      
           
Total Class A & B          
Note Balance @ 02/18/20   313,896,020.89      
Principal Paid   14,139,392.12      
Note Balance @ 03/16/20   299,756,628.77      
           
Class A-1          
Note Balance @ 02/18/20   0.00      
Principal Paid   0.00      
Note Balance @ 03/16/20   0.00      
Note Factor @ 03/16/20   0.0000000%     
           
Class A-2a          
Note Balance @ 02/18/20   0.00      
Principal Paid   0.00      
Note Balance @ 03/16/20   0.00      
Note Factor @ 03/16/20   0.0000000%     
           
Class A-2b          
Note Balance @ 02/18/20   0.00      
Principal Paid   0.00      
Note Balance @ 03/16/20   0.00      
Note Factor @ 03/16/20   0.0000000%     
           
Class A-3          
Note Balance @ 02/18/20   184,446,020.89      
Principal Paid   14,139,392.12      
Note Balance @ 03/16/20   170,306,628.77      
Note Factor @ 03/16/20   39.9780819%     
           
Class A-4          
Note Balance @ 02/18/20   94,750,000.00      
Principal Paid   0.00      
Note Balance @ 03/16/20   94,750,000.00      
Note Factor @ 03/16/20   100.0000000%     
           
Class B          
Note Balance @ 02/18/20   34,700,000.00      
Principal Paid   0.00      
Note Balance @ 03/16/20   34,700,000.00      
Note Factor @ 03/16/20   100.0000000%     
           
Interest & Principal Payments   $ Amount      
           
Total Interest Paid   542,339.02      
Total Principal Paid   14,139,392.12      
Total Paid   14,681,731.14      
           
Class A-1          
Coupon   1.10000%     
Interest Paid   0.00      
Principal Paid   0.00      
Total Paid to A-1 Holders   0.00      
           
Class A-2a          
Coupon   1.50000%     
Interest Paid   0.00      
Principal Paid   0.00      
Total Paid to A-2a Holders   0.00      
           
Class A-2b          
One-Month Libor   1.65825%     
Coupon   1.79825%     
Interest Paid   0.00      
Principal Paid   0.00      
Total Paid to A-2b Holders   0.00      
           
Class A-3          
Coupon   1.93000%     
Interest Paid   296,650.68      
Principal Paid   14,139,392.12      
Total Paid to A-3 Holders   14,436,042.80      
           
Class A-4          
Coupon   2.24000%     
Interest Paid   176,866.67      
Principal Paid   0.00      
Total Paid to A-4 Holders   176,866.67      
           
Class B          
Coupon   2.38000%     
Interest Paid   68,821.67      
Principal Paid   0.00      
Total Paid to B Holders   68,821.67      

 

 

 

 

Distribution per $1,000 of Notes    Total       
           
Total Interest Distribution Amount   0.4316439      
Total Interest Carryover Shortfall   0.0000000      
Total Principal Distribution Amount   11.2534459      
Total Distribution Amount   11.6850898      
           
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   0.0000000      
A-2a Interest Carryover Shortfall   0.0000000      
A-2a  Principal Distribution Amount   0.0000000      
Total A-2a  Distribution Amount   0.0000000      
           
A-2b Interest Distribution Amount   0.0000000      
A-2b Interest Carryover Shortfall   0.0000000      
A-2b  Principal Distribution Amount   0.0000000      
Total A-2b Distribution Amount   0.0000000      
           
A-3 Interest Distribution Amount   0.6963631      
A-3 Interest Carryover Shortfall   0.0000000      
A-3 Principal Distribution Amount   33.1910613      
Total A-3 Distribution Amount   33.8874244      
           
A-4 Interest Distribution Amount   1.8666667      
A-4 Interest Carryover Shortfall   0.0000000      
A-4 Principal Distribution Amount   0.0000000      
Total A-4 Distribution Amount   1.8666667      
           
B Interest Distribution Amount   1.9833334      
B Interest Carryover Shortfall   0.0000000      
B Principal Distribution Amount   0.0000000      
Total B Distribution Amount   1.9833334      
           
Noteholders' First Priority Principal Distributable Amount   0.00      
Noteholders' Second Priority Principal Distributable Amount   1.04      
Noteholders' Principal Distributable Amount   998.96      
           
Account Balances   $ Amount      
           
Reserve Account          
Balance as of 02/18/20   3,213,436.41      
Investment Earnings   3,903.37      
Investment Earnings Paid   (3,903.37)     
Deposit/(Withdrawal)   -      
Balance as of 03/16/20   3,213,436.41      
Change   -      
           
Required Reserve Amount   3,213,436.41