EX-99.1 2 d286639dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

Servicer’s Certificate

for the Collection Period September 01, 2022 through September 30, 2022

for Payment Date of October 17, 2022

Toyota Auto Receivables 2020-B Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   30    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 

Class     Initial Principal
Balance		     Final
Scheduled
Payment Date		  

Beginning
Principal

Balance

     Beginning
Principal
Factor		     First
Priority
Principal
Distribution
Amount		     Second
Priority
Principal
Distribution
Amount		     Regular Principal
Distribution
Amount		    

Ending

Principal

Balance

     Ending
Principal
Factor		  
  A-1       $240,000,000.00     5/17/21     $0.00       0.0000000       $0.00       $0.00       $0.00       $0.00       0.0000000  
  A-2       $450,000,000.00     12/15/22     $0.00       0.0000000       $0.00       $0.00       $0.00       $0.00       0.0000000  
  A-3       $393,040,000.00     8/15/24     $166,669,652.74       0.4240526       $0.00       $7,860,704.55       $10,200,015.02       $148,608,933.17       0.3781013  
  A-4       $86,960,000.00     9/15/25     $86,960,000.00       1.0000000       $0.00       $0.00       $0.00       $86,960,000.00       1.0000000  
  B       $30,000,000.00     11/16/26     $30,000,000.00       1.0000000       $0.00       $0.00       $0.00       $30,000,000.00       1.0000000  
 

 

 

      

 

 

      

 

 

  
  Total       $1,200,000,000.00         $283,629,652.74         $0.00       $7,860,704.55       $10,200,015.02       $265,568,933.17       0.2213074  
 

 

 

      

 

 

      

 

 

  

 

Class     Interest
Rate		     Interest
Distributable
Amount		     Prior
Interest
Carryover		     Interest
Distribution
Amount		     Current
Interest
Carryover		    

Total

Principal &
Interest Distribution

  
  A-1       1.14133%       $0.00       $0.00       $0.00       $0.00       $0.00  
  A-2       1.38000%       $0.00       $0.00       $0.00       $0.00       $0.00  
  A-3       1.36000%       $188,892.27       $0.00       $188,892.27       $0.00       $18,249,611.84  
  A-4       1.66000%       $120,294.67       $0.00       $120,294.67       $0.00       $120,294.67  
  B         $0.00       $0.00       $0.00       $0.00       $0.00  
   

 

 

  
  Total         $309,186.94       $0.00       $309,186.94       $0.00       $18,369,906.51  
   

 

 

  

 

 Credit Enhancement

 

Reserve Account         Yield Supplement Overcollateralization Amount   

Initial Deposit Amount

      $12,000,017.68       

Beginning Period Amount

      $9,028,614.01  

Specified Reserve Account Amount

      $12,000,017.68       

Increase/(Decrease)

      $(853,532.57 ) 

Beginning Balance

      $12,000,017.68       

Ending Period Amount

      $8,175,081.44  

Withdrawals

      $0.00          

Amount Available for Deposit

      $11,403,339.05        Overcollateralization   

Amount Deposited to the Reserve Account

      $0.00          

Reserve Account Balance Prior to Release

      $12,000,017.68       

Adjusted Pool Balance

      $275,768,948.19  

Reserve Account Required Amount

      $12,000,017.68       

Total Note Balance

      $265,568,933.17  

Reserve Account Release to Seller

      $0.00       

Ending Overcollateralization Amount

      $10,200,015.02  

Ending Reserve Account Balance

      $12,000,017.68       

Overcollateralization Target Amount

      $10,200,015.02  

 

Page 1 of 5

Servicer’s Certificate

for the Collection Period September 01, 2022 through September 30, 2022

for Payment Date of October 17, 2022

Toyota Auto Receivables 2020-B Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   30    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 Liquidations of Charge-offs and Repossessions

 

                                                                                                                                                                                             
          Cumulative  
    Current Period Only     Current Period     Prior Period     Two Periods Prior     Three Periods Prior  

Number of Liquidated Receivables

     8       351       343       335       322  

Gross Principal of Liquidated Receivables

     $97,938.30       $6,209,961.11       $6,112,022.81       $6,043,897.35       $5,837,882.57  

Principal of Repurchased Contracts, previously charged-off

     $0.00       $0.00       $0.00       $0.00       $0.00  

Net Liquidation Proceeds Received During the Collection Period

     $910.00       $(1,376,167.21 )      $(1,377,077.21 )      $(1,370,896.39 )      $(1,359,170.49 ) 

Recoveries on Previously Liquidated Contracts

     $(119,067.07 )      $(2,810,868.60 )      $(2,691,801.53 )      $(2,597,687.66 )      $(2,554,300.57 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Credit Losses

     $(20,218.77 )      $2,022,925.30       $2,043,144.07       $2,075,313.30       $1,924,411.51  

Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool)

       0.51982%       0.50797%       0.49612%       0.47687%  

Number of Accounts with Liquidation Proceeds or Recoveries

       327       321       317       308  

Ratio of Aggregate Net Losses to Average Portfolio Balance

       0.28324%       0.28044%       0.27922%       0.25380%  

Number of Assets Experiencing a Net Loss

       262       256       251       239  

Net Credit Losses for Assets Experiencing a Loss

       $2,045,960.32       $2,065,796.26       $2,097,674.25       $1,946,654.68  

Average Net Loss on all assets that have Experienced a Net Loss

       $7,809.01       $8,069.52       $8,357.27       $8,145.00  

Cumulative Net Loss Ratio

       0.15861%       0.16020%       0.16272%       0.15089%  

Repossessed in Current Period

     3 vehicles        

 

 Pool Data

                                                                                                                                                                                                                   
    Original     Prior Month     Current Month        

Receivables Pool Balance

     $1,275,392,995.27       $302,858,281.77       $283,944,029.63    

Number of Contracts

     67,524       32,020       30,971    

Weighted Average APR

     3.26%       3.46%       3.48%    

Weighted Average Remaining Term (Months)

     49.34       25.37       24.61    

 

Page 2 of 5

Servicer’s Certificate

for the Collection Period September 01, 2022 through September 30, 2022

for Payment Date of October 17, 2022

Toyota Auto Receivables 2020-B Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   30    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 Collections

Principal Payments Received

      $14,600,160.59  

Prepayments in Full

      $4,215,804.08  

Interest Payments Received

      $891,141.53  

Aggregate Net Liquidation Proceeds

      $118,157.07  

Interest on Repurchased Contracts

      $0.00  
  

 

 

  

Total Collections

      $19,825,263.27  

Principal of Repurchased Contracts

      $349.17  

Principal of Repurchased Contracts, prev charged-off

      $0.00  

Adjustment on Repurchased Contracts

      $0.00  
  

 

 

  

Total Repurchased Amount

      $349.17  
  

Total Available Collections

      $19,825,612.44  

 

 Distributions

 

                                                                                                                                                                              
    Calculated Amount         Amount Paid         Shortfall  

Servicing Fee

     $252,381.90         $252,381.90         $0.00  

Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year)

          

Indenture Trustee

     $0.00         $0.00         $0.00  

Owner Trustee

     $0.00         $0.00         $0.00  

Asset Representations Reviewer

     $0.00         $0.00         $0.00  

Interest - Class A-1 Notes

     $0.00         $0.00         $0.00  

Interest - Class A-2 Notes

     $0.00         $0.00         $0.00  

Interest - Class A-3 Notes

     $188,892.27         $188,892.27         $0.00  

Interest - Class A-4 Notes

     $120,294.67         $120,294.67         $0.00  

First Priority Principal Distribution Amount

     $0.00         $0.00         $0.00  

Interest - Class B Notes

     $0.00         $0.00         $0.00  

Second Priority Principal Distribution Amount

     $7,860,704.55         $7,860,704.55         $0.00  

Reserve Account Deposit

     $0.00         $0.00         $0.00  

Regular Principal Distribution Amount

     $10,200,015.02         $10,200,015.02         $0.00  

Additional Trustee and Other Fees/Expenses

          

Indenture Trustee

     $0.00         $0.00         $0.00  

Owner Trustee

     $0.00         $0.00         $0.00  

Asset Representations Reviewer

     $0.00         $0.00         $0.00  

Excess Amounts to the Certificateholder

     $1,203,324.03         $1,203,324.03         N/A  

 

Page 3 of 5

Servicer’s Certificate

for the Collection Period September 01, 2022 through September 30, 2022

for Payment Date of October 17, 2022

Toyota Auto Receivables 2020-B Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   30    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 Noteholder Distributions

    Interest
Distributed		         Per $1000 of
Original Balance		         Principal
Distributed		         Per $1000 of
Original Balance		         Amount
Distributed		         Per $1000 of
Original Balance		  

Class A-1 Notes

     $0.00         $0.00         $0.00         $0.00         $0.00         $0.00  

Class A-2 Notes

     $0.00         $0.00         $0.00         $0.00         $0.00         $0.00  

Class A-3 Notes

     $188,892.27         $0.48         $18,060,719.57         $45.95         $18,249,611.84         $46.43  

Class A-4 Notes

     $120,294.67         $1.38         $0.00         $0.00         $120,294.67         $1.38  

Class B Notes

     $0.00         $0.00         $0.00         $0.00         $0.00         $0.00  

 

 Delinquent and Repossessed Contracts

 

                                                                                                                                                                                                                   
    Percentage of Current Month
Number of Contracts		     Units     Percentage of Current Month
Receivables Pool Balance		     Balance  

30-59 Days Delinquent

     0.66%       203       0.93%       $2,641,842.35  

60-89 Days Delinquent

     0.15%       48       0.19%       $528,648.26  

90-119 Days Delinquent

     0.05%       14       0.07%       $188,897.01  

120 or more Days Delinquent

     0.00%       0       0.00%       $0.00  
   

 

 

      

 

 

  

Total Delinquencies

     0.86%       265       1.19%       $3,359,387.62  
   

 

 

      

 

 

  

Total Delinquencies - Prior Period

     0.82%         1.11%    

Total Delinquencies - Two Months Prior

     0.88%         1.14%    

Total Delinquencies - Three Months Prior

     0.76%         1.05%    

Receivables Pool Balance

     $283,944,029.63        

60-Day Delinquency Percentage

     0.25%        

Delinquency Trigger Percentage

     4.65%        

Has a Delinquency Trigger occurred in this Collection Period?

     No        

 

                                                                                                                                                                                                                   

Repossessed Vehicle Inventory*

          3 vehicles    

* Included with Delinquencies Above

        

 

Page 4 of 5

Servicer’s Certificate

for the Collection Period September 01, 2022 through September 30, 2022

for Payment Date of October 17, 2022

Toyota Auto Receivables 2020-B Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

I hereby certify to the best of my knowledge that the report provided is true and correct.

/s/ Stephen Bishop

Name:   Stephen Bishop
Title:   Group Manager - Treasury

 

Page 5 of 5