UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from October 1, 2021 to October 31, 2021

Commission File Number of issuing entity: 333-224598-02

Central Index Key Number of issuing entity: 0001767530

VERIZON OWNER TRUST 2019-A

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-224598

Central Index Key Number of depositor: 0001737286

VERIZON ABS LLC

(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001175215

CELLCO PARTNERSHIP

(Exact name of sponsor as specified in its charter)

Karrie E. Schweikert

908-559-5672

(Name and telephone number, including area code, of the person to contact in connection with this filing)

Delaware

(State or other jurisdiction of incorporation or organization of the issuing entity)

22-3372889

(I.R.S. Employer Identification No.)

 

One Verizon Way

Basking Ridge, New Jersey

  

07920

(Address of principal executive offices of the issuing entity)    (Zip Code)

212-395-1000

(Telephone number including area code)

Not Applicable

(Former name, former address, if changed since last report)

Registered/reporting pursuant to (check one)

 

                    Name of
exchange

Title of class

   Section 12(b)    Section 12(g)    Section 15(d)    (If Section 12(b))

Fixed Rate Class A-1a Notes

                                

Floating Rate Class A-1b Notes

                                

Fixed Rate Class B Notes

                                

Fixed Rate Class C Notes

                                

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐


PART I — DISTRIBUTION INFORMATION

 

Item 1.

Distribution and Pool Performance Information.

Distribution and pool performance information with respect to the assets of Verizon Owner Trust 2019-A for the distribution period commencing on October 1, 2021 and ending on October 31, 2021 is set forth in the monthly investor report relating to the November 22, 2021 distribution, which is attached as Exhibit 99.1 to this Form 10-D.

There is no activity to report under Rule 15Ga-1(a) under the Securities Exchange Act of 1934 with respect to Verizon Owner Trust 2019-A for the distribution period commencing on October 1, 2021 and ending on October 31, 2021. Cellco Partnership (Central Index Key Number: 0001175215), as securitizer, most recently filed a Form ABS-15G on February 2, 2021 with respect to all asset-backed securities sponsored by it, including those securities issued by Verizon Owner Trust 2019-A.

PART II — OTHER INFORMATION

 

Item 10.

Exhibits.

 

Exhibit 99.1    Monthly investor report relating to the November 22, 2021 distribution.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: December 3, 2021

 

VERIZON OWNER TRUST 2019-A
    (Issuing Entity)
By:   Cellco Partnership,
  solely as servicer
By:  

/s/ Kee Chan Sin

  Name: Kee Chan Sin
  Title:   Vice President and Assistant Treasurer

EX-99.1

Exhibit 99.1

Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

I. Original Deal Parameters

 

     Initial Pool Balance      Initial Adjusted Pool
Balance
     Initial Number of
Receivables
     Weighted Average
Remaining Installments
at Initial Cutoff
Date (in months)
 

Receivables

   $ 1,357,039,665.98      $ 1,253,966,871.25        2,123,526        20.0  

 

Offered Notes

   Issuance Note Balance      Note Interest Rate     Final Maturity
Date
 

Class A-1a Note

   $ 900,000,000.00        2.93     09/20/2023  

Class A-1b Note

   $ 100,000,000.00        One-Month LIBOR + 0.33     09/20/2023  

Class B Note

   $ 69,000,000.00        3.02     09/20/2023  

Class C Note

   $ 53,300,000.00        3.22     09/20/2023  
  

 

 

      

Total

   $ 1,122,300,000.00       

 

 

II. Class A-1b Note Interest Derivation

 

Interest

  

LIBOR Determination Date

     10/18/2021  

One-Month LIBOR for Interest Period

     0.08563

Spread over One-Month LIBOR

     0.33

Note Interest Rate

     0.41563

Note Balance at the beginning of the Interest Period

   $ 38,064,403.38  

Days in the Interest Period

     33  

Note Monthly Interest

   $ 14,502.32  

Interest Rate Cap

  

One-Month LIBOR for Interest Period

     0.08563

Cap Rate

     2.75000

One-Month LIBOR in excess of Cap Strike Rate

     No  

Notional Amount of Cap

   $ 61,274,000.00  

Days in the Interest Period

     33  

Cap Payment

   $ 0.00  

 

 

 

1


Verizon 2019-A

Monthly Investor Report

 

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

III. Available Funds

 

Collections (Excluding Temporarily Excluded Receivables)

  

Payments (scheduled and delinquent)

   $ 68,616,295.65  

Prepayments in Full

   $ 8,871,408.09  

Less: Supplemental Servicing Fee, Collections on Acquired Receivables, and Collections on Written Off Receivables

   $ 0.00  

Sub-total

   $ 77,487,703.74  
  

 

 

 

Other

  

Acquisition Amounts (repurchases)

   $ 564,660.17  

Credit Payments

   $ 637,559.70  

Upgrade Payments

   $ 2,338,323.89  

Any amounts deposited by the Class A Certificateholder to acquire the Receivables*

   $ 0.00  

Negative Carry Account Draw Amount, and related amounts**

   $ 0.00  

Reserve Account Draw Amount, and related amounts***

   $ 0.00  

Cap Payment

   $ 0.00  

Sub-total

   $ 3,540,543.76  
  

 

 

 

Available Funds

   $ 81,028,247.50  
  

 

 

 

 

*

Includes Optional Acquisition, Clean-up Redemption, and Optional Redemption.

**

Deposits into the Collection Account from the Negative Carry Account and, on the first Payment Date during the Amortization Period, the entire amount on deposit in the Negative Carry Account and the Acquisition Account.

***

Any amount in excess of the Required Reserve Amount remaining on deposit in the Reserve Account after withdrawing the Reserve Account Draw Amount from the Reserve Account.

 

 

 

2


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

IV. Distribution

 

     Amount Due      Amount Paid      Shortfall      Carryover
Shortfall
     Remaining
Available Funds
 

Indenture Trustee Fee

   $ 1,000.00      $ 1,000.00      $ 0.00      $ 0.00      $ 81,027,247.50  

Owner Trustee Fee

   $ 1,250.00      $ 1,250.00      $ 0.00      $ 0.00      $ 81,025,997.50  

Asset Representations Reviewer Fee

   $ 416.67      $ 416.67      $ 0.00      $ 0.00      $ 81,025,580.83  

Expenses of the Trustees and Asset Representations Reviewer

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 81,025,580.83  

Servicing Fee

   $ 367,649.15      $ 367,649.15      $ 0.00      $ 0.00      $ 80,657,931.68  

Class A-1a Note Accrued Note Interest

   $ 836,465.26      $ 836,465.26      $ 0.00      $ 0.00      $ 79,821,466.42  

Class A-1b Note Accrued Note Interest

   $ 14,502.32      $ 14,502.32      $ 0.00      $ 0.00      $ 79,806,964.10  

First Priority Principal Payment

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 79,806,964.10  

Class B Note Interest

   $ 173,650.00      $ 173,650.00      $ 0.00      $ 0.00      $ 79,633,314.10  

Second Priority Principal Payment

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 79,633,314.10  

Class C Note Interest

   $ 143,021.67      $ 143,021.67      $ 0.00      $ 0.00      $ 79,490,292.43  

Third Priority Principal Payment

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 79,490,292.43  

Regular Priority Principal Payment

   $ 66,688,568.82      $ 66,688,568.82      $ 0.00      $ 0.00      $ 12,801,723.61  

Accelerated Note Balances

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Additional Successor Servicer Fee

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Reserve Account up to Required Reserve Amount

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Acquisition Deposit Amount

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Negative Carry Deposit Amount

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Make-Whole Payments

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Additional Fees and Expenses of the Trustees and Asset

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Representations Reviewer

              

Additional Issuer Expenses

   $ 0.00      $ 0.00      $ 0.00      $ 0.00      $ 12,801,723.61  

Equity Interest to the Certificateholders

   $ 12,801,723.61      $ 12,801,723.61      $ 0.00      $ 0.00      $ 0.00  
  

 

 

    

 

 

    

 

 

       

Total

   $ 81,028,247.50      $ 81,028,247.50      $ 0.00        
  

 

 

    

 

 

    

 

 

       

 

Principal Payment:

  

First Priority Principal Payment

   $ 0.00  

Second Priority Principal Payment

   $ 0.00  

Third Priority Principal Payment

   $ 0.00  

Regular Principal Payment

   $ 66,688,568.82  

Accelerated Note Balances

   $ 0.00  
  

 

 

 
Total    $ 66,688,568.82  
  

 

 

 

 

 

 

3


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

V. Noteholder Payments

 

     Note Balance
Payment
     Interest Payment      Make Whole
Payment
     Total Payment  

Class A-1a Note

   $ 60,019,711.94      $ 836,465.26      $ 0.00      $ 60,856,177.20  

Class A-1b Note

   $ 6,668,856.88      $ 14,502.32      $ 0.00      $ 6,683,359.20  

Class B Note

   $ 0.00      $ 173,650.00      $ 0.00      $ 173,650.00  

Class C Note

   $ 0.00      $ 143,021.67      $ 0.00      $ 143,021.67  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 66,688,568.82      $ 1,167,639.25      $ 0.00      $ 67,856,208.07  
  

 

 

    

 

 

    

 

 

    

 

 

 
     Note Balance per
$1,000 of Notes
     Interest Payment
per $1,000 of Notes
     Make Whole
Payment per $1,000
of Notes
     Total Payment per
$1,000 of Notes
 

Class A-1a Note

   $ 313.96      $ 2.96      $ 0.00      $ 215.37  

Class A-1b Note

   $ 313.96      $ 0.46      $ 0.00      $ 212.88  

Class B Note

   $ 1,000.00      $ 2.52      $ 0.00      $ 2.52  

Class C Note

   $ 1,000.00      $ 2.68      $ 0.00      $ 2.68  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 388.72      $ 2.68      $ 0.00      $ 155.54  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

 

 

     As of Prior Payment Date      As of Current Payment Date  
     Balance      Note Pool Factor      Balance      Note Pool Factor  

Class A-1a Note

   $ 342,579,630.49        0.38      $ 282,559,918.55        0.31  

Class A-1b Note

   $ 38,064,403.38        0.38      $ 31,395,546.50        0.31  

Class B Note

   $ 69,000,000.00        1.00      $ 69,000,000.00        1.00  

Class C Note

   $ 53,300,000.00        1.00      $ 53,300,000.00        1.00  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 502,944,033.87        0.45      $ 436,255,465.05        0.39  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

 

 

4


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

VI. Reconciliation of Pool Balance and Pool Information

 

Beginning of Period Pool Balance

   $ 614,889,595.92  

Less: Collections, Prepayments in Full, Credit Payments, and Upgrade Payments

   $ 80,463,587.33  

Less: Acquired Receivables

   $ 592,219.63  

Less: Write Offs

   $ 1,740,954.71  

Plus: Principal Balance of Additional Receivables at Cutoff Date

   $ 0.00  

Ending of Period Pool Balance

   $ 532,092,834.25  
  

 

 

 

 

     End of Prior Period      End of Period  

Pool Balance

   $ 614,889,595.92      $ 532,092,834.25  

Less: Principal Balance Temporarily Excluded Receivables

   $ 0.00      $ 0.00  

Less: YSOC Amount

   $ 26,650,959.81      $ 21,852,524.25  
  

 

 

    

 

 

 

Adjusted Pool Balance

   $ 588,238,636.11      $ 510,240,310.00  

Weighted Average Remaining Term (Months)

     10.5        9.9  

Number of Receivables Outstanding

     2,310,854        2,121,110  

 

 

VII. Overcollateralization Information

 

     End of Prior Period      End of Period  

Adjusted Pool Balance

     $ 588,238,636.11        $ 510,240,310.00  

Greater of (i) and either (ii) or (iii)

         

(i) 1.00% of the Adjusted Pool Balance as of the Closing Date

     1.00   $ 12,539,668.71        1.00   $ 12,539,668.71  

(ii) 14.50% of the Adjusted Pool Balance (Passing Floor Credit Enhancement Composition Tests)

     14.50   $ 85,294,602.24        14.50   $ 73,984,844.95  

(iii) 17.50% of the Adjusted Pool Balance (Failing Floor Credit Enhancement Composition Tests)

     17.50   $ 102,941,761.32        17.50   $ 89,292,054.25  

Overcollateralization Target Amount

     14.50   $ 85,294,602.24        14.50   $ 73,984,844.95  
    

 

 

      

 

 

 

Excess Receivables (Adjusted Pool Balance - Note Balance - Overcollateralization Target Amount)

     $ 0.00        $ 0.00  

 

 

VIII. Reconciliation of Reserve Account

 

Beginning of Period Reserve Account Balance

   $ 12,539,668.71  

Add: Reserve Deposit Amount

   $ 0.00  

Less: Reserve Account Draw Amount

   $ 0.00  
  

 

 

 

End of Period Reserve Account Balance

   $ 12,539,668.71  
  

 

 

 

Required Reserve Amount

   $ 12,539,668.71  
  

 

 

 

 

 

 

5


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

IX. Reconciliation of Acquisition Account

 

Beginning of Period Acquisition Account Balance

   $ 0.00  

Add: Acquisition Deposit Amount

   $ 0.00  

Less: Aggregate Additional Receivables Cash Transfer Amount

   $ 0.00  

Less: Amounts Deposited into Certificate Distribution Account

   $ 0.00  
  

 

 

 

End of Period Acquisition Account Balance

   $ 0.00  
  

 

 

 

 

 

X. Reconciliation of Negative Carry Account

 

Beginning of Period Negative Carry Account Balance

   $ 0.00  

Add: Negative Carry Deposit Amount

   $ 0.00  

Less: Negative Carry Account Draw Amount

   $ 0.00  
  

 

 

 

End of Period Negative Carry Account Balance

   $ 0.00  
  

 

 

 

Required Negative Carry Amount

   $ 0.00  
  

 

 

 

 

 

XI. Write Offs and Delinquent Receivables

 

     Number of Receivables      Amount      % of End of Period
Pool Balance
 

Written Off Receivables in Current Collection Period

     5,077      $ 1,740,954.71        0.33

Cumulative Gross Written Off Receivables through Preceding Collection Period

     210,377      $ 87,826,862.73     
  

 

 

    

 

 

    

Cumulative Gross Written Off Receivables for all Collection Periods

     215,454      $ 89,567,817.44     
  

 

 

    

 

 

    

Delinquent Receivables:

        

1—30 Days Delinquent

     227,982      $ 60,661,164.92        11.40

31—60 Days Delinquent

     17,603      $ 4,953,193.46        0.93

61—90 Days Delinquent

     6,845      $ 2,067,364.59        0.39

91—120 Days Delinquent

     5,385      $ 1,744,409.83        0.33

Over 120 Days Delinquent

     6,171      $ 2,320,925.53        0.44
  

 

 

    

 

 

    

 

 

 

Total Delinquent Receivables at the End of Collection Period

     263,986      $ 71,747,058.33        13.48
  

 

 

    

 

 

    

 

 

 

 

Ratio of Aggregate Principal Balance of Written Off Receivables to the Beginning of Collection Period Pool Balance:

  

Second Preceding Collection Period

     0.22

Proceeding Collection Period

     0.24

Current Collection Period

     0.28

Sum of the three above multiplied by four

     2.98

Ratio of Aggregate Principal Balance of Receivables 91+ Days Delinquent to the End of Collection Period Pool Balance:

  

Second Preceding Collection Period

     0.60

Proceeding Collection Period

     0.65

Current Collection Period

     0.76

Three Month Average

     0.67

 

 

 

6


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

XII. Monthly Amortization Event Tests

 

    

Ratio

   In Compliance?  

1)  Failure in paying Accrued Note Interest on any Payment Date

   N/A      Yes  

2)  Failure in depositing Required Reserve Amount and Required Negative Carry Amount

   N/A      Yes  

3)  For any Payment Date, the sum of the percentages for each of the prior three Collection Periods calculated as the aggregate Principal Balance of Written Off Receivables during each such Period divided by the aggregate Pool Balance as of the first day of each such Period, multiplied by four, exceeds 10%

   2.98%      Yes  

4)  For any Payment Date, the sum of the percentages for each of the prior three Collection Periods calculated as the aggregate Principal Balance of all Receivables that are 91 days or more Delinquent at the end of each such Period divided by the aggregate Pool Balance as of the last day of each such Period, divided by three, exceeds 2.00%

   0.67%      Yes  

5)  The Adjusted Pool Balance is less than 50% of the aggregate Note Balance of the Notes

   117%      Yes  

6)  On any Payment Date, the amount of Overcollateralization for the Notes does not equal the Overcollateralization Target Amount; provided, that if the Overcollateralization Target Amount is not reached on any Payment Date solely due to a change in the Overcollateralization Target Amount percentage, such an event will not constitute an “Amortization Event” unless the Overcollateralization Target Amount is not reached by the third month after the related Payment Date

   N/A      Yes  

7)  Occurrence of a Servicer Termination Event

   N/A      Yes  

8)  Occurrence of an Event of Default

   N/A      Yes  

 

 

 

7


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

 

Supplemental Report Regarding Additional Receivable Acquired by the Issuer

XIII. Additional Receivables Acquired by the Issuer

 

     Acquisition
Date
     Number of
Receivables
     Aggregate Principal
Balance
 

First Additional Receivables acquired in the Collection Period

        0      $ 0.00  

Second Additional Receivables acquired in the Collection Period

        
Acquisition Tests    In Compliance                

Compliance with the Pool Composition Tests (excluding Temporarily Excluded Receivables) upon Acquisition

     Yes        

Compliance with the Credit Enhancement Tests upon Acquisition

     Yes        

XIV. Pool Composition Tests

 

     In Compliance
     Prior to Purchase      With Purchase     

In Compliance

1)  The weighted average FICO® Score of the Obligors with respect to the Receivables (excluding Obligors for which FICO® Scores are not available) was at least 685

     712        712      Yes

2)  Receivables with Obligors for which FICO® Scores are unavailable represent no more than 5.00% of the pool balance

     3.58      3.58    Yes

3)  Receivables with Obligors that have less than 12 months of Customer Tenure with Verizon Wireless represent no more than 28.00% of the pool balance

     14.07      14.07    Yes

4)  Receivables with Obligors that have 7 months or more, but less than 24 months of Customer Tenure with Verizon Wireless represent no more than 15.00% of the pool balance

     7.32      7.32    Yes

5)  Receivables with Obligors that have 60 months or more of Customer Tenure with Verizon Wireless represent at least 50.00% of the pool balance

     63.87      63.87    Yes

6)  Receivables with Obligors that have less than 12 months of Customer Tenure with Verizon Wireless and (i) for which FICO® Scores are not available or (ii) that have FICO® Scores below 650 represent no more than 10.00% of the Pool Balance

     6.26      6.26    Yes

7)  Receivables with Obligors that have 12 months or more, but less than 60 months of Customer Tenure with Verizon Wireless and (i) for which FICO® Scores are not available or (ii) that have FICO® Scores below 650 represent no more than 55.00% of the aggregate principal balance of all Receivables with Obligors that 12 months or more, but less than 60 months of Customer Tenure with Verizon Wireless

     44.02      44.02    Yes

8)  Receivables with Obligors that have 60 months or more of Customer Tenure with Verizon Wireless and (i) for which FICO® Scores are not available or (ii) that have FICO® Scores below 650 represent no more than 30.00% of the aggregate principal balance of all Receivables with Obligors that have 60 months or more of Customer Tenure with Verizon Wireless

     21.73      21.73    Yes

 

 

 

8


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

XV. Floor Credit Enhancement Composition Tests

 

     In Compliance  
     Prior to Purchase     With Purchase     In Compliance  

1)  The weighted average FICO® Score of the Obligors with respect to the Receivables (excluding Obligors for which FICO® Scores are not available) was at least 700

     712       712       Yes  

2)  Receivables with Obligors for which FICO® Scores are unavailable represent no more than 4.50% of the pool balance

     3.58     3.58     Yes  

3)  Receivables with Obligors that have less than 12 months of Customer Tenure with Verizon Wireless represent no more than 22.00% of the pool balance

     14.07     14.07     Yes  

4)  Receivables with Obligors that have 7 months or more, but less than 24 months of Customer Tenure with Verizon Wireless represent no more than 12.00% of the pool balance

     7.32     7.32     Yes  

5)  Receivables with Obligors that have 60 months or more of Customer Tenure with Verizon Wireless represent at least 55.00% of the pool balance

     63.87     63.87     Yes  

6)  Receivables with Obligors that have less than 12 months of Customer Tenure with Verizon Wireless and (i) for which FICO® Scores are not available or (ii) that have FICO® Scores below 650 represent no more than 10.00% of the Pool Balance

     6.26     6.26     Yes  

7)  Receivables with Obligors that have 12 months or more, but less than 60 months of Customer Tenure with Verizon Wireless and (i) for which FICO® Scores are not available or (ii) that have FICO® Scores below 650 represent no more than 50.00% of the aggregate principal balance of all Receivables with Obligors that 12 months or more, but less than 60 months of Customer Tenure with Verizon Wireless

     44.02     44.02     Yes  

8)  Receivables with Obligors that have 60 months or more of Customer Tenure with Verizon Wireless and (i) for which FICO® Scores are not available or (ii) that have FICO® Scores below 650 represent no more than 27.50% of the aggregate principal balance of all Receivables with Obligors that have 60 months or more of Customer Tenure with Verizon Wireless

     21.73     21.73     Yes  

 

 

 

 

9


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

XVI. Pool Characteristics as of Most Recent Cutoff Date

 

            Prior to Purchase     With Purchase  

Cutoff Date

        30-Sep-2021       31-Oct-2021  

Number of Receivables

        2,121,110       2,121,110  

Pool Balance

      $ 532,092,834.25     $ 532,092,834.25  

Average Monthly Payment

      $ 30.34     $ 30.34  

Average Principal Balance

      $ 250.86     $ 250.86  

Weighted Average Remaining Number of Payments

        9.9       9.9  

Customer Tenure

       
     0-12 Months        14.07     14.07
     7-24 Months        7.32     7.32
     60+ Months        63.87     63.87

Geographic Concentration

       
     Largest state        CA  /  10.01     CA  /  10.01
     2nd Largest State        NY  /  6.25     NY  /  6.25
     3rd Largest State        TX  /  5.94     TX  /  5.94

Weighted Average non zero FICO® Scores

        712       712  

Receivables with Obligors with less than 12 months of Customer Tenure with Verizon Wireless and a FICO® Score below 650 (inclusive of Obligors without a FICO® Score)

 

     6.26     6.26

Receivables with Obligors that have 12 months or more, but less than 60 months of Customer Tenure with Verizon Wireless, and FICO® Scores below 650 (inclusive of Obligors without a FICO® Score) as a percentage of Obligors that have 12 months or more, but less than 60 months of Customer Tenure with Verizon Wireless

 

     44.02     44.02

Receivables with Obligors with 60 months or more of Customer Tenure with Verizon Wireless and FICO® Scores below 650 (inclusive of Obligors without a FICO® Score) as a percentage of Obligors with 60 months or more of Customer Tenure with Verizon Wireless

 

     21.73     21.73

Obligor without a FICO® score

 

     3.58     3.58

 

 

XVII. Upgrades

 

     Current Period      To Date  

Number of Receivables Upgraded

     5,215        120,912  

Principal Balance of Receivables Upgraded

   $ 2,338,323.89      $ 53,372,144.91  

Upgrade Payments

   $ 213,486.61      $ 6,959,589.50  

Failure by Marketing Agent to Make Upgrade Payment

     No        No  

XVIII. Asset Representation Review

 

Aggregate Principal Balance of 60-Day Delinquent Receivables as a Percentage of the Aggregate Balance of Receivables as of the end of the Collection Period

     1.17

Delinquency Trigger

     5.50

 

10


Verizon 2019-A

Monthly Investor Report

 

 

Collection Period

  

 

October 2021    

Payment Date    11/22/2021    

Report Month

 

  

31    

 

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

 

Cellco Partnership, as Servicer
Dated: November 17, 2021
By:  

/s/ Kee Chan Sin

  Name: Kee Chan Sin
  Title:   Vice President and Assistant Treasurer

 

11