Exhibit 99.1
World Omni Auto Receivables Trust 2020-B
Monthly Servicer Certificate
October 31, 2022
Dates Covered | ||||||||||||
Collections Period | 10/01/22 - 10/31/22 | |||||||||||
Interest Accrual Period | 10/17/22 - 11/14/22 | |||||||||||
30/360 Days | 30 | |||||||||||
Actual/360 Days | 29 | |||||||||||
Distribution Date | 11/15/22 |
Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||||
Pool Balance at 09/30/22 | 266,380,910.91 | 18,357 | ||||||||||
Yield Supplement Overcollateralization Amount 09/30/22 | 7,855,317.35 | 0 | ||||||||||
Receivables Balance 09/30/22 | 274,236,228.26 | 18,357 | ||||||||||
Principal Payments | 12,316,314.60 | 355 | ||||||||||
Defaulted Receivables | 151,708.08 | 9 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 10/31/22 | 7,285,824.94 | 0 | ||||||||||
Pool Balance at 10/31/22 | 254,482,380.64 | 17,993 |
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 29.22 | % | ||||||||||
Prepayment ABS Speed | 1.12 | % | ||||||||||
Aggregate Starting Principal Balance | 895,761,839.35 | 38,913 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 2,043,230.11 | 109 | ||||||||||
Past Due 61-90 days | 439,031.96 | 24 | ||||||||||
Past Due 91-120 days | 71,486.22 | 3 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 2,553,748.29 | 136 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 0.98 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.20 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 148,113.95 | |||||||||||
Aggregate Net Losses/(Gains) - October 2022 | 3,594.13 | |||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | 0.02 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | 0.18 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | 0.00 | % | ||||||||||
Third Prior Net Losses/(Gains) Ratio | -0.17 | % | ||||||||||
Four Month Average | 0.01 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.22 | % | ||||||||||
Overcollateralization Target Amount | 4,249,049.30 | |||||||||||
Actual Overcollateralization | 4,249,049.30 | |||||||||||
Weighted Average Contract Rate | 3.68 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 5.84 | % | ||||||||||
Weighted Average Remaining Term | 34.33 |
Flow of Funds | $ Amount | |||||||||||
Collections | 13,285,790.86 | |||||||||||
Investment Earnings on Cash Accounts | 21,368.62 | |||||||||||
Servicing Fee | (228,530.19 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 13,078,629.29 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||||
(2) Class A Interest | 129,702.73 | |||||||||||
(3) Noteholders' First Priority Principal Distributable Amount | - | |||||||||||
(4) Class B Interest | 25,925.00 | |||||||||||
(5) Noteholders' Second Priority Principal Distributable Amount | - | |||||||||||
(6) Class C Interest | 21,781.25 | |||||||||||
(7) Noteholders' Third Priority Principal Distributable Amount | 7,649,480.97 | |||||||||||
(8) Required Reserve Account | - | |||||||||||
(9) Noteholders' Principal Distributable Amount | 4,249,049.30 | |||||||||||
(10) Asset Representation Reviewer Amounts (in excess of 1) | - | |||||||||||
(11) Distribution to Certificateholders | 1,002,690.04 | |||||||||||
Total Distributions of Available Funds | 13,078,629.29 | |||||||||||
Servicing Fee | 228,530.19 | |||||||||||
Unpaid Servicing Fee | - | |||||||||||
Change in amount of the unpaid servicing fee from the prior period | - |
Note Balances & Note Factors | $ Amount | |||||||||||
Original Class A | 809,430,000.00 | |||||||||||
Original Class B | 25,500,000.00 | |||||||||||
Original Class C | 12,750,000.00 | |||||||||||
Total Class A, B, & C | ||||||||||||
Note Balance @ 10/17/22 | 262,131,861.61 | |||||||||||
Principal Paid | 11,898,530.27 | |||||||||||
Note Balance @ 11/15/22 | 250,233,331.34 | |||||||||||
Class A-1 | ||||||||||||
Note Balance @ 10/17/22 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 0.00 | |||||||||||
Note Factor @ 11/15/22 | 0.0000000 | % | ||||||||||
Class A-2a | ||||||||||||
Note Balance @ 10/17/22 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 0.00 | |||||||||||
Note Factor @ 11/15/22 | 0.0000000 | % | ||||||||||
Class A-2b | ||||||||||||
Note Balance @ 10/17/22 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 0.00 | |||||||||||
Note Factor @ 11/15/22 | 0.0000000 | % | ||||||||||
Class A-3 | ||||||||||||
Note Balance @ 10/17/22 | 147,051,861.61 | |||||||||||
Principal Paid | 11,898,530.27 | |||||||||||
Note Balance @ 11/15/22 | 135,153,331.34 | |||||||||||
Note Factor @ 11/15/22 | 47.9607279 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 10/17/22 | 76,830,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 76,830,000.00 | |||||||||||
Note Factor @ 11/15/22 | 100.0000000 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 10/17/22 | 25,500,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 25,500,000.00 | |||||||||||
Note Factor @ 11/15/22 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 10/17/22 | 12,750,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 12,750,000.00 | |||||||||||
Note Factor @ 11/15/22 | 100.0000000 | % |
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 177,408.98 | |||||||||||
Total Principal Paid | 11,898,530.27 | |||||||||||
Total Paid | 12,075,939.25 | |||||||||||
Class A-1 | ||||||||||||
Coupon | 0.26763 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-1 Holders | 0.00 | |||||||||||
Class A-2a | ||||||||||||
Coupon | 0.55000 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-2a Holders | 0.00 | |||||||||||
Class A-2b | ||||||||||||
One-Month Libor | N/A | |||||||||||
Coupon | 0.25000 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-2b Holders | 0.00 | |||||||||||
Class A-3 | ||||||||||||
Coupon | 0.63000 | % | ||||||||||
Interest Paid | 77,202.23 | |||||||||||
Principal Paid | 11,898,530.27 | |||||||||||
Total Paid to A-3 Holders | 11,975,732.50 | |||||||||||
Class A-4 | ||||||||||||
Coupon | 0.82000 | % | ||||||||||
Interest Paid | 52,500.50 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-4 Holders | 52,500.50 | |||||||||||
Class B | ||||||||||||
Coupon | 1.22000 | % | ||||||||||
Interest Paid | 25,925.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to B Holders | 25,925.00 |
Class C | ||||||||||||
Coupon | 2.05000 | % | ||||||||||
Interest Paid | 21,781.25 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to C Holders | 21,781.25 |
Distribution per $1,000 of Notes | Total | |||||||||||
Total Interest Distribution Amount | 0.2092877 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 14.0365825 | |||||||||||
Total Distribution Amount | 14.2458702 | |||||||||||
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 | 0.2739611 | |||||||||||
A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-3 Principal Distribution Amount | 42.2233154 | |||||||||||
Total A-3 Distribution Amount | 42.4972765 | |||||||||||
A-4 Interest Distribution Amount | 0.6833333 | |||||||||||
A-4 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-4 Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-4 Distribution Amount | 0.6833333 | |||||||||||
B Interest Distribution Amount | 1.0166667 | |||||||||||
B Interest Carryover Shortfall | 0.0000000 | |||||||||||
B Principal Distribution Amount | 0.0000000 | |||||||||||
Total B Distribution Amount | 1.0166667 | |||||||||||
C Interest Distribution Amount | 1.7083333 | |||||||||||
C Interest Carryover Shortfall | 0.0000000 | |||||||||||
C Principal Distribution Amount | 0.0000000 | |||||||||||
Total C Distribution Amount | 1.7083333 | |||||||||||
Noteholders' First Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Second Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Third Priority Principal Distributable Amount | 642.89 | |||||||||||
Noteholders' Principal Distributable Amount | 357.11 |
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 10/17/22 | 8,498,098.59 | |||||||||||
Investment Earnings | 20,325.80 | |||||||||||
Investment Earnings Paid | (20,325.80 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 11/15/22 | 8,498,098.59 | |||||||||||
Change | - | |||||||||||
Required Reserve Amount | 8,498,098.59 |
Other Servicing Information | Current Month | Prior Month | Two Months Prior | |||||||||
Principal Balance of Receivables extended during the Collection Period | $ | 1,384,832.73 | $ | 773,101.75 | $ | 834,445.38 | ||||||
Number of Extensions | 73 | 38 | 44 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.50 | % | 0.27 | % | 0.28 | % |