Exhibit 99.1
World Omni Auto Receivables Trust 2019-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 | 127,676,313.45 | 11,775 | ||||||||||
Yield Supplement Overcollateralization Amount 09/30/22 | 2,825,850.85 | 0 | ||||||||||
Receivables Balance 09/30/22 | 130,502,164.30 | 11,775 | ||||||||||
Principal Payments | 7,210,881.71 | 245 | ||||||||||
Defaulted Receivables | 135,992.65 | 9 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 10/31/22 | 2,573,682.06 | 0 | ||||||||||
Pool Balance at 10/31/22 | 120,581,607.88 | 11,521 | ||||||||||
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 14.00 | % | ||||||||||
Prepayment ABS Speed | 1.08 | % | ||||||||||
Aggregate Starting Principal Balance | 879,483,109.18 | 36,170 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 1,582,746.63 | 103 | ||||||||||
Past Due 61-90 days | 514,552.57 | 28 | ||||||||||
Past Due 91-120 days | 138,703.51 | 8 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 2,236,002.71 | 139 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 1.82 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.53 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 109,626.98 | |||||||||||
Aggregate Net Losses/(Gains) - October 2022 | 26,365.67 | |||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | 0.24 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | -0.29 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | -0.03 | % | ||||||||||
Third Prior Net Losses/(Gains) Ratio | 0.00 | % | ||||||||||
Four Month Average | -0.02 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.78 | % | ||||||||||
Overcollateralization Target Amount | 4,150,650.57 | |||||||||||
Actual Overcollateralization | 4,150,650.57 | |||||||||||
Weighted Average Contract Rate | 4.40 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 6.42 | % | ||||||||||
Weighted Average Remaining Term | 26.59 | |||||||||||
Flow of Funds | $ Amount | |||||||||||
Collections | 7,792,472.22 | |||||||||||
Investment Earnings on Cash Accounts | 5,586.86 | |||||||||||
Servicing Fee | (108,751.80 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 7,689,307.28 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||||
(2) Class A Interest | 189,404.97 | |||||||||||
(3) Noteholders' First Priority Principal Distributable Amount | - | |||||||||||
(4) Class B Interest | 59,345.00 | |||||||||||
(5) Noteholders' Second Priority Principal Distributable Amount | - | |||||||||||
(6) Class C Interest | 31,436.25 | |||||||||||
(7) Noteholders' Third Priority Principal Distributable Amount | 2,944,055.00 | |||||||||||
(8) Required Reserve Account | - | |||||||||||
(9) Noteholders' Principal Distributable Amount | 4,150,650.57 | |||||||||||
(10) Asset Representation Reviewer Amounts (in excess of 1) | - | |||||||||||
(11) Distribution to Certificateholders | 314,415.49 | |||||||||||
(12) Collection Account Redeposits | - | |||||||||||
Total Distributions of Available Funds | 7,689,307.28 | |||||||||||
Servicing Fee | 108,751.80 | |||||||||||
Unpaid Servicing Fee | - | |||||||||||
Change in amount of the unpaid servicing fee from the prior period | - |
Note Balances & Note Factors | $ Amount | |||||||||||
Original Class A | 790,700,000.00 | |||||||||||
Original Class B | 24,900,000.00 | |||||||||||
Original Class C | 12,450,000.00 | |||||||||||
Total Class A, B, & C | ||||||||||||
Note Balance @ 10/17/22 | 123,525,662.88 | |||||||||||
Principal Paid | 7,094,705.57 | |||||||||||
Note Balance @ 11/15/22 | 116,430,957.31 | |||||||||||
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-2 | ||||||||||||
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 | 4,355,662.88 | |||||||||||
Principal Paid | 4,355,662.88 | |||||||||||
Note Balance @ 11/15/22 | 0.00 | |||||||||||
Note Factor @ 11/15/22 | 0.0000000 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 10/17/22 | 81,820,000.00 | |||||||||||
Principal Paid | 2,739,042.69 | |||||||||||
Note Balance @ 11/15/22 | 79,080,957.31 | |||||||||||
Note Factor @ 11/15/22 | 96.6523555 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 10/17/22 | 24,900,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 24,900,000.00 | |||||||||||
Note Factor @ 11/15/22 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 10/17/22 | 12,450,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 11/15/22 | 12,450,000.00 | |||||||||||
Note Factor @ 11/15/22 | 100.0000000 | % |
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 280,186.22 | |||||||||||
Total Principal Paid | 7,094,705.57 | |||||||||||
Total Paid | 7,374,891.79 | |||||||||||
Class A-1 | ||||||||||||
Coupon | 2.54330 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-1 Holders | 0.00 | |||||||||||
Class A-2 | ||||||||||||
Coupon | 2.63000 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-2 Holders | 0.00 | |||||||||||
Class A-3 | ||||||||||||
Coupon | 2.59000 | % | ||||||||||
Interest Paid | 9,400.97 | |||||||||||
Principal Paid | 4,355,662.88 | |||||||||||
Total Paid to A-3 Holders | 4,365,063.85 | |||||||||||
Class A-4 | ||||||||||||
Coupon | 2.64000 | % | ||||||||||
Interest Paid | 180,004.00 | |||||||||||
Principal Paid | 2,739,042.69 | |||||||||||
Total Paid to A-4 Holders | 2,919,046.69 | |||||||||||
Class B | ||||||||||||
Coupon | 2.86000 | % | ||||||||||
Interest Paid | 59,345.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to B Holders | 59,345.00 |
Class C | ||||||||||||
Coupon | 3.03000 | % | ||||||||||
Interest Paid | 31,436.25 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to C Holders | 31,436.25 | |||||||||||
Distribution per $1,000 of Notes | Total | |||||||||||
Total Interest Distribution Amount | 0.3383687 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 8.5679676 | |||||||||||
Total Distribution Amount | 8.9063363 | |||||||||||
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-2 Interest Distribution Amount | 0.0000000 | |||||||||||
A-2 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-2 Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-2 Distribution Amount | 0.0000000 | |||||||||||
A-3 Interest Distribution Amount | 0.0349556 | |||||||||||
A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-3 Principal Distribution Amount | 16.1956677 | |||||||||||
Total A-3 Distribution Amount | 16.2306233 | |||||||||||
A-4 Interest Distribution Amount | 2.2000000 | |||||||||||
A-4 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-4 Principal Distribution Amount | 33.4764445 | |||||||||||
Total A-4 Distribution Amount | 35.6764445 | |||||||||||
B Interest Distribution Amount | 2.3833333 | |||||||||||
B Interest Carryover Shortfall | 0.0000000 | |||||||||||
B Principal Distribution Amount | 0.0000000 | |||||||||||
Total B Distribution Amount | 2.3833333 | |||||||||||
C Interest Distribution Amount | 2.5250000 | |||||||||||
C Interest Carryover Shortfall | 0.0000000 | |||||||||||
C Principal Distribution Amount | 0.0000000 | |||||||||||
Total C Distribution Amount | 2.5250000 | |||||||||||
Noteholders' First Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Second Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Third Priority Principal Distributable Amount | 414.97 | |||||||||||
Noteholders' Principal Distributable Amount | 585.03 | |||||||||||
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 10/17/22 | 2,075,325.29 | |||||||||||
Investment Earnings | 4,963.78 | |||||||||||
Investment Earnings Paid | (4,963.78 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 11/15/22 | 2,075,325.29 | |||||||||||
Change | - | |||||||||||
Required Reserve Amount | 2,075,325.29 | |||||||||||
Other Servicing Information | Current Month | Prior Month | Two Months Prior | |||||||||
Principal Balance of Receivables extended during the Collection Period | $ | 1,094,324.23 | $ | 642,684.83 | $ | 517,647.75 | ||||||
Number of Extensions | 70 | 43 | 33 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.84 | % | 0.46 | % | 0.35 | % |