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%