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%