Exhibit 99.1
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-4 Owner Trust |
Collection Period: December 1, 2022 through December 31, 2022 |
Deal Age |
|
14 |
Determination Date: 01/17/2023 |
Actual/360 Days |
|
33 |
Record Date: 01/22/2023 |
30/360 Days |
|
30 |
Payment Date: 01/23/2023 |
ORIGINAL DEAL PARAMETERS
|
|
|
|
Dollar Amount |
|
|
|
|
Number of Receivables |
|
|
|
||
Total Portfolio Balance |
|
|
|
$ |
1,619,491,676.76 |
|
|
|
|
|
85,623 |
|
|
|
|
|
Accrual Basis |
|
Dollar Amount |
|
|
% of Pool |
|
|
Interest Rate |
|
|
Final Scheduled |
|||
Class A-1 Notes |
|
Actual/360 |
|
$ |
315,000,000.00 |
|
|
|
19.45 |
% |
|
|
0.143 |
% |
|
November 21, 2022 |
Class A-2 Notes |
|
30/360 |
|
$ |
574,300,000.00 |
|
|
|
35.46 |
% |
|
|
0.390 |
% |
|
May 21, 2024 |
Class A-3 Notes |
|
30/360 |
|
$ |
574,300,000.00 |
|
|
|
35.46 |
% |
|
|
0.880 |
% |
|
January 21, 2026 |
Class A-4 Notes |
|
30/360 |
|
$ |
115,348,000.00 |
|
|
|
7.12 |
% |
|
|
1.140 |
% |
|
June 21, 2028 |
Certificates |
|
30/360 |
|
$ |
40,543,676.76 |
|
|
|
2.50 |
% |
|
|
0.000 |
% |
|
|
Total Securities Balance |
|
|
|
$ |
1,619,491,676.76 |
|
|
|
|
|
|
|
|
|
||
Total Note Balance |
|
|
|
$ |
1,578,948,000.00 |
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Reserve Account Initial Deposit |
|
|
|
$ |
4,048,729.19 |
|
|
|
|
|
|
|
|
|
||
Yield Supplement Account Deposit |
|
|
|
$ |
56,090,072.69 |
|
|
|
|
|
|
|
|
|
COLLECTIONS
Interest Collections |
|
|
|
|
|
|
|
|
|
|
|
|
Simple Interest Collections |
|
$ |
1,996,678.67 |
|
|
|
|
|
|
|
||
Interest Related to Repurchased Receivables |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Interest Advance for simple Interest - Net * |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Total Interest Collections |
|
$ |
1,996,678.67 |
|
|
|
|
|
|
|
* Advances are reimbursed (including non-recoverable advances of $0.00): |
(i) from subsequent payments, liquidation proceeds and servicer repurchase payments in respect of the related obligor, and |
(ii) to the extent amounts in clause (i) are insufficient, generally from interest (with respect to interest advances). |
Principal Collections |
|
|
|
|
|
|
|
|
|
|
|
|
Principal Collections |
|
$ |
31,029,019.04 |
|
|
|
|
|
|
|
||
Prepayments in Full |
|
$ |
7,870,108.47 |
|
|
|
|
|
|
|
||
Liquidation Proceeds |
|
$ |
129,876.82 |
|
|
|
|
|
|
|
||
Principal Related to Repurchased Receivables |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Recoveries from Prior Month Charge Offs |
|
$ |
46,253.10 |
|
|
|
|
|
|
|
||
Total Principal Collections |
|
$ |
39,075,257.43 |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest and Principal Collections |
|
$ |
41,071,936.10 |
|
|
|
|
|
|
|
||
Yield Supplement Deposit |
|
$ |
1,687,892.28 |
|
|
|
|
|
|
|
||
Collection Account Investment Earnings |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Available Amount |
|
|
|
$ |
42,759,828.38 |
|
|
|
|
|
|
|
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-4 Owner Trust |
Collection Period: December 1, 2022 through December 31, 2022 |
Deal Age |
|
14 |
Determination Date: 01/17/2023 |
Actual/360 Days |
|
33 |
Record Date: 01/22/2023 |
30/360 Days |
|
30 |
Payment Date: 01/23/2023 |
DISTRIBUTIONS
Note Percentage |
|
|
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|||
Certificate Percentage |
|
|
0.00 |
% |
|
|
|
Amount Due |
|
|
Amount Paid |
|
|
Shortfall |
|
|||
Total Servicing Fee |
|
|
1.00 |
% |
|
|
|
$ |
815,682.28 |
|
|
$ |
815,682.28 |
|
|
$ |
0.00 |
|
Trustee Fees |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Asset Representations Reviewer Fees (Accrued & Unpaid) |
|
|
|
|
$ |
0.00 |
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest - Class A-1 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Interest - Class A-2 Notes |
|
|
|
|
|
|
$ |
80,803.79 |
|
|
$ |
80,803.79 |
|
|
$ |
0.00 |
|
|
Interest - Class A-3 Notes |
|
|
|
|
|
|
$ |
421,153.33 |
|
|
$ |
421,153.33 |
|
|
$ |
0.00 |
|
|
Interest - Class A-4 Notes |
|
|
|
|
|
|
$ |
109,580.60 |
|
|
$ |
109,580.60 |
|
|
$ |
0.00 |
|
|
Total Monthly Interest |
|
|
|
|
|
|
$ |
611,537.72 |
|
|
$ |
611,537.72 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Principal - Class A-1 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Class A-2 Notes |
|
|
|
|
|
|
$ |
39,250,733.94 |
|
|
$ |
39,250,733.94 |
|
|
$ |
0.00 |
|
|
Principal - Class A-3 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Class A-4 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Total Monthly Principal |
|
|
|
|
|
|
$ |
39,250,733.94 |
|
|
$ |
39,250,733.94 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest - Certificates |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Certificates |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
|
Available to Deposit |
|
|
Reserve Deposit |
|
|
Reserve Draw |
|
|
Excess Released |
|
|
Released to Seller |
|
|||||
Reserve Account Deposit |
|
$ |
2,081,874.44 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
2,081,874.44 |
|
Noteholder/Certificateholder Distributions |
|
Fee |
|
|
Interest |
|
|
Interest |
|
|
Principal |
|
|
Principal |
|
|
Amount |
|
||||||
Servicing Fee |
|
$ |
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
815,682.28 |
|
||||
Trustee Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.00 |
|
|||||
Asset Representation Reviewer Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.00 |
|
|||||||
Class A-1 Notes |
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Class A-2 Notes |
|
|
|
|
$ |
0.14 |
|
|
$ |
0.00 |
|
|
$ |
68.35 |
|
|
$ |
0.00 |
|
|
$ |
39,331,537.73 |
|
|
Class A-3 Notes |
|
|
|
|
$ |
0.73 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
421,153.33 |
|
|
Class A-4 Notes |
|
|
|
|
$ |
0.95 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
109,580.60 |
|
|
Certificates |
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
2
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-4 Owner Trust |
Collection Period: December 1, 2022 through December 31, 2022 |
Deal Age |
|
14 |
Determination Date: 01/17/2023 |
Actual/360 Days |
|
33 |
Record Date: 01/22/2023 |
30/360 Days |
|
30 |
Payment Date: 01/23/2023 |
POOL DATA
|
|
Proceeding Month |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
Carryover Shortfall |
|
|
Beginning of Period |
|
|
End of Period |
|
|||||||||||||||
|
|
Interest |
|
|
Principal |
|
|
Balance |
|
|
Note Factor |
|
|
Balance |
|
|
Note Factor |
|
||||||
Class A-1 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
Class A-2 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
248,627,057.41 |
|
|
|
0.4329219 |
|
|
$ |
209,376,323.47 |
|
|
|
0.3645766 |
|
Class A-3 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
574,300,000.00 |
|
|
|
1.0000000 |
|
|
$ |
574,300,000.00 |
|
|
|
1.0000000 |
|
Class A-4 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
115,348,000.00 |
|
|
|
1.0000000 |
|
|
$ |
115,348,000.00 |
|
|
|
1.0000000 |
|
Certificates |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
40,543,676.76 |
|
|
|
1.0000000 |
|
|
$ |
40,543,676.76 |
|
|
|
1.0000000 |
|
Total Securities |
|
|
|
|
|
|
|
$ |
978,818,734.17 |
|
|
|
0.6043987 |
|
|
$ |
939,568,000.23 |
|
|
|
0.5801623 |
|
||
Total Notes |
|
|
|
|
|
|
|
$ |
938,275,057.41 |
|
|
|
0.5942406 |
|
|
$ |
899,024,323.47 |
|
|
|
0.5693818 |
|
Portfolio Information |
|
Original |
|
|
Prior Month |
|
|
Current Month |
|
|||
Weighted Average Coupon (WAC) |
|
|
2.53 |
% |
|
|
2.43 |
% |
|
|
2.42 |
% |
Weighted Average Remaining Maturity (WAM) |
|
|
48.66 |
|
|
|
37.26 |
|
|
|
36.41 |
|
Weighted Average Original Maturity (WAOM) |
|
|
60.41 |
|
|
|
|
|
|
|
||
Remaining Number of Receivables |
|
|
85,623 |
|
|
|
67,659 |
|
|
|
66,184 |
|
Portfolio Receivable Balance |
|
$ |
1,619,491,676.76 |
|
|
$ |
978,818,734.17 |
|
|
$ |
939,568,000.23 |
|
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Account Activity |
|
|
|
|
|
Amount |
|
|
Gross Principal Balance on Defaulted Receivables |
|
|
|
|
|
$ |
351,606.43 |
|
Liquidation Proceeds |
|
|
|
|
|
$ |
129,876.82 |
|
Recoveries on Previously Defaulted Contracts |
|
|
|
|
|
$ |
46,253.10 |
|
Aggregate Net Losses for Collection Period |
|
|
|
|
|
$ |
175,476.51 |
|
Net Loss Rate for Collection Period's Average Balance (annualized) |
|
|
|
|
0.22 |
% |
||
Cumulative Net Losses for all Periods |
|
|
|
|
|
$ |
1,203,696.11 |
|
Delinquent Receivables |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
||||
31-60 Days Delinquent |
|
|
366 |
|
|
|
0.55 |
% |
|
$ |
5,254,009.62 |
|
|
|
0.56 |
% |
61-90 Days Delinquent |
|
|
84 |
|
|
|
0.13 |
% |
|
$ |
1,217,793.56 |
|
|
|
0.13 |
% |
91-120 Days Delinquent |
|
|
25 |
|
|
|
0.04 |
% |
|
$ |
381,495.73 |
|
|
|
0.04 |
% |
121 Days or More Delinquent |
|
|
0 |
|
|
|
0.00 |
% |
|
$ |
0.00 |
|
|
|
0.00 |
% |
Repossession Activity |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
||||
Vehicles Repossessed During Collection Period |
|
|
13 |
|
|
|
0.02 |
% |
|
$ |
215,701.25 |
|
|
|
0.02 |
% |
Total Accumulated Repossessed Vehicles in Inventory |
|
|
24 |
|
|
|
0.04 |
% |
|
$ |
467,147.48 |
|
|
|
0.05 |
% |
3
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-4 Owner Trust |
Collection Period: December 1, 2022 through December 31, 2022 |
Deal Age |
|
14 |
Determination Date: 01/17/2023 |
Actual/360 Days |
|
33 |
Record Date: 01/22/2023 |
30/360 Days |
|
30 |
Payment Date: 01/23/2023 |
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Ratios |
|
|
|
|
|
|
|
|
Ratio of Net Losses to the Pool Balance as of Each Collection Period |
|
|||||||
Third Preceding Collection Period |
|
|
|
|
|
|
0.14 |
% |
Second Preceding Collection Period |
|
|
|
|
|
|
0.14 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.17 |
% |
Current Collection Period |
|
|
|
|
|
|
0.22 |
% |
Four Month Average |
|
|
|
|
|
|
0.17 |
% |
Ratio of Number of Contracts Delinquent 61 Days or More to the Outstanding Number of Receivables (includes repossessions in inventory) |
|
|
|
|||||
Second Preceding Collection Period |
|
|
|
|
|
|
0.20 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.21 |
% |
Current Collection Period |
|
|
|
|
|
|
0.20 |
% |
Three Month Average |
|
|
|
|
|
|
0.21 |
% |
Delinquency Trigger |
|
4.80% |
|
Delinquency Percentage exceeds Delinquency Trigger: |
|
No |
||
Delinquency Percentage - |
|
0.17% |
|
|
|
|
|
|
Receivables that are 61 days or more delinquent as a percentage of Current Outstanding Balance of Receivables |
LOSS AND CUMULATIVE LOSS INFORMATION
|
|
Current Month |
|
|
Cumulative |
|
||||||||||
For Assets Experiencing a Loss: |
|
Units |
|
|
Amount |
|
|
Units |
|
|
Amount |
|
||||
Gross Principal |
|
22 |
|
|
$ |
339,397.12 |
|
|
|
143 |
|
|
$ |
2,377,978.17 |
|
|
Liquidation Proceeds and Recoveries |
|
34 |
|
|
$ |
161,735.01 |
|
|
|
117 |
|
|
$ |
1,162,188.79 |
|
|
Net Loss Amount |
|
22 |
|
|
$ |
177,662.11 |
|
|
|
143 |
|
|
$ |
1,215,789.38 |
|
|
Net Loss % of Average |
|
|
|
|
0.22 |
% |
|
|
|
|
|
|
||||
Cumulative Net Loss % |
|
|
|
|
|
|
|
|
|
|
0.08 |
% |
||||
Average Net Loss of |
|
|
|
|
|
|
|
|
|
$ |
8,502.02 |
|
CREDIT ENHANCEMENT
Reconciliation of Reserve Account |
|
|
|
|
Reconciliation of Yield Supplement Account |
|
||||
Beginning Reserve Account Balance |
|
$ |
4,048,729.19 |
|
|
Beginning Yield Supplement |
|
$ |
26,455,941.27 |
|
Investment Earnings |
|
$ |
13,591.21 |
|
|
Investment Earnings |
|
$ |
92,064.63 |
|
Excess Interest Deposited into the Reserve Account |
|
$ |
0.00 |
|
|
Additional Yield Supplement Amounts |
|
$ |
0.00 |
|
Investment Withdrawal to Seller |
|
$ |
(13,591.21 |
) |
|
Yield Supplement Withdrawal Amount |
|
$ |
1,687,892.28 |
|
Release of Reserve to Collection Account |
|
$ |
0.00 |
|
|
Investment Earnings Withdraw |
|
$ |
0.00 |
|
Release of Reserve to Seller |
|
$ |
0.00 |
|
|
Release of Yield Supplement Account Balance to Seller |
|
$ |
0.00 |
|
Ending Reserve Account Balance |
|
$ |
4,048,729.19 |
|
|
Ending Yield Supplement Account Balance |
|
$ |
24,860,113.62 |
|
|
|
|
|
|
|
|
|
|
||
Reserve Account Required Amount |
|
$ |
4,048,729.19 |
|
|
|
|
|
|
4
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-4 Owner Trust |
Collection Period: December 1, 2022 through December 31, 2022 |
Deal Age |
|
14 |
Determination Date: 01/17/2023 |
Actual/360 Days |
|
33 |
Record Date: 01/22/2023 |
30/360 Days |
|
30 |
Payment Date: 01/23/2023 |
REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
Is there any activity to report? |
|
|
|
|
|
|
|
No |
|
|
|
|
|
|
|
|
|
STATEMENT TO NOTEHOLDERS
Has there been a material change in practices with respect to charge-offs, collection and management of delinquent receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience? |
|
No |
||||||
|
|
|
|
|
|
|
|
|
Have there been any material modifications, extensions or waivers to receivables terms, fees, penalties or payments during the collection period? |
|
No |
||||||
|
|
|
|
|
|
|
|
|
Have there been any material breaches of representations, warranties or covenants contained in the receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
Has there been an issuance of notes or other securities backed by the receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
Has there been a material change in the underwriting, origination or acquisition of receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
SERVICER CERTIFICATION
I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. |
||
|
|
|
/s/ Paul C. Honda |
|
|
Paul C. Honda |
|
|
Vice President-Finance & Administration and Assistant Secretary |
|
|
5