Exhibit 99.1
NISSAN AUTO LEASE TRUST 2020-B
Servicers Report
Collection Period Start | 1-Dec-22 | Distribution Date | 17-Jan-23 | |||
Collection Period End | 31-Dec-22 | 30/360 Days | 30 | |||
Beg. of Interest Period | 15-Dec-22 | Actual/360 Days | 33 | |||
End of Interest Period | 17-Jan-23 |
SUMMARY | ||||||||||||||||||||
Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | ||||||||||||||||
Total Portfolio |
1,526,947,713.40 | 351,624,009.36 | 312,095,372.88 | 0.2043917 | ||||||||||||||||
Total Securities |
1,526,947,713.40 | 351,624,009.36 | 312,095,372.88 | 0.2043917 | ||||||||||||||||
Class A-1 Notes |
0.182500 | % | 162,400,000.00 | 0.00 | 0.00 | 0.0000000 | ||||||||||||||
Class A-2a Notes |
0.340000 | % | 537,600,000.00 | 0.00 | 0.00 | 0.0000000 | ||||||||||||||
Class A-2b Notes |
0.000000 | % | 0.00 | 0.00 | 0.00 | 0.0000000 | ||||||||||||||
Class A-3 Notes |
0.430000 | % | 479,400,000.00 | 4,076,295.96 | 0.00 | 0.0000000 | ||||||||||||||
Class A-4 Notes |
0.490000 | % | 95,600,000.00 | 95,600,000.00 | 60,147,659.48 | 0.6291596 | ||||||||||||||
Certificates |
0.000000 | % | 251,947,713.40 | 251,947,713.40 | 251,947,713.40 | 1.0000000 | ||||||||||||||
Principal Payment Due | Interest Payment | Principal per $1000 Face Amount | Interest per $1000 Face Amount |
|||||||||||||||||
Class A-1 Notes |
0.00 | 0.00 | 0.0000000 | 0.0000000 | ||||||||||||||||
Class A-2a Notes |
0.00 | 0.00 | 0.0000000 | 0.0000000 | ||||||||||||||||
Class A-2b Notes |
0.00 | 0.00 | 0.0000000 | 0.0000000 | ||||||||||||||||
Class A-3 Notes |
4,076,295.96 | 1,460.67 | 8.5029119 | 0.0030469 | ||||||||||||||||
Class A-4 Notes |
35,452,340.52 | 39,036.67 | 370.8403820 | 0.4083334 | ||||||||||||||||
Certificates |
0.00 | 0.00 | 0.0000000 | 0.0000000 | ||||||||||||||||
Total Securities |
39,528,636.48 | 40,497.34 |
I. COLLECTIONS |
||||||||||||||||||||
Lease Payments: ( Lease SUBI) |
||||||||||||||||||||
Monthly Principal |
5,072,255.03 | |||||||||||||||||||
Monthly Interest |
2,282,035.96 | |||||||||||||||||||
|
|
|||||||||||||||||||
Total Monthly Payments |
7,354,290.99 | |||||||||||||||||||
Interest Rate Cap Payments |
0.00 | |||||||||||||||||||
Advances: |
||||||||||||||||||||
Aggregate Monthly Payment Advances |
|
328,051.99 | ||||||||||||||||||
Aggregate Sales Proceeds Advance |
|
1,726,013.21 | ||||||||||||||||||
|
|
|||||||||||||||||||
Total Advances |
2,054,065.20 | |||||||||||||||||||
Vehicle Disposition Proceeds: |
||||||||||||||||||||
Repurchase Payments |
0.00 | |||||||||||||||||||
Recoveries |
0.00 | |||||||||||||||||||
Net Liquidation Proceeds (includes Reallocation Payments and Net Auction Proceeds) |
|
41,288,302.53 | ||||||||||||||||||
Excess Wear and Tear and Excess Mileage |
|
17,447.56 | ||||||||||||||||||
Remaining Payoffs |
0.00 | |||||||||||||||||||
Net Insurance Proceeds |
593,418.50 | |||||||||||||||||||
Residual Value Surplus |
411,934.40 | |||||||||||||||||||
|
|
|||||||||||||||||||
Total Collections |
51,719,459.18 | |||||||||||||||||||
Vehicle Disposition Activity for the current month - Terminated and Sold (included in Vehicle Disposition Proceeds) |
Reallocation Payments and Net Auction Proceeds |
Net Insurance Sales |
Lease Payoffs | Count | ||||||||||||||||
Early Termination |
445,609.00 | 21 | ||||||||||||||||||
Involuntary Repossession |
86,977.00 | 4 | ||||||||||||||||||
Voluntary Repossession |
| | ||||||||||||||||||
Full Termination |
2,240,570.30 | 98 | ||||||||||||||||||
Bankruptcty |
| | ||||||||||||||||||
Insurance Payoff |
593,418.50 | 25 | ||||||||||||||||||
Customer Payoff |
5,398,924.41 | 341 | ||||||||||||||||||
Grounding Dealer Payoff |
33,429,872.84 | 1,972 | ||||||||||||||||||
Dealer Purchase |
| | ||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total |
2,773,156.30 | 593,418.50 | 38,828,797.25 | 2,461 | ||||||||||||||||
II. COLLATERAL POOL BALANCE DATA |
|
|||||||||||||||||||
Number | Book Amount | Discount Rate |
Securitization Value |
|||||||||||||||||
Pool Balance - Beginning of Period |
22,796 | 413,476,669.84 | 7.00000 | % | 351,624,009.36 | |||||||||||||||
Total Depreciation Received |
(6,533,027.37 | ) | (5,134,891.27 | ) | ||||||||||||||||
Principal Amount of Gross Losses |
(32 | ) | (542,703.22 | ) | (471,081.84 | ) | ||||||||||||||
Repurchase / Reallocation |
0 | 0.00 | 0.00 | |||||||||||||||||
Early Terminations |
(6 | ) | (154,202.08 | ) | (127,995.32 | ) | ||||||||||||||
Scheduled Terminations |
(2,437 | ) | (41,270,133.45 | ) | (33,794,668.05 | ) | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Pool Balance - End of Period |
20,321 | 364,976,603.72 | 312,095,372.88 | |||||||||||||||||
Remaining Pool Balance |
||||||||||||||||||||
Lease Payment |
32,222,019.12 | |||||||||||||||||||
Residual Value |
279,873,353.76 | |||||||||||||||||||
|
|
|||||||||||||||||||
Total |
312,095,372.88 |
NISSAN AUTO LEASE TRUST 2020-B
Servicers Report
III. DISTRIBUTIONS |
||||
Total Collections |
51,719,459.18 | |||
Reserve Amounts Available for Distribution |
0.00 | |||
|
|
|||
Total Available for Distribution |
51,719,459.18 | |||
1. Amounts due Indenture Trustee as Compensation or Indemnity |
0.00 | |||
2. Reimbursement of Payment Advance |
366,138.32 | |||
3. Reimbursement of Sales Proceeds Advance |
1,557,009.73 | |||
4. Servicing Fee: |
||||
Servicing Fee Due |
293,020.01 | |||
Servicing Fee Paid |
293,020.01 | |||
Servicing Fee Shortfall |
0.00 | |||
|
|
|||
Total Trustee, Advances and Servicing Fee Paid |
2,216,168.06 | |||
5. Interest: |
||||
Class A-1 Notes Monthly Interest |
||||
Class A-1 Notes Interest Carryover Shortfall |
0.00 | |||
Class A-1 Notes Interest on Interest Carryover Shortfall |
0.00 | |||
Class A-1 Notes Monthly Available Interest Distribution Amount |
0.00 | |||
Class A-1 Notes Monthly Interest Paid |
0.00 | |||
Chg in Class A-1 Notes Int. Carryover Shortfall |
0.00 | |||
Class A-2a Notes Monthly Interest |
||||
Class A-2a Notes Interest Carryover Shortfall |
0.00 | |||
Class A-2a Notes Interest on Interest Carryover Shortfall |
0.00 | |||
Class A-2a Notes Monthly Available Interest Distribution Amount |
0.00 | |||
Class A-2a Notes Monthly Interest Paid |
0.00 | |||
Chg in Class A-2a Notes Int. Carryover Shortfall |
0.00 | |||
Class A-2b Notes Monthly Interest |
||||
Class A-2b Notes Interest Carryover Shortfall |
0.00 | |||
Class A-2b Notes Interest on Interest Carryover Shortfall |
0.00 | |||
Class A-2b Notes Monthly Available Interest Distribution Amount |
0.00 | |||
Class A-2b Notes Monthly Interest Paid |
0.00 | |||
Chg in Class A-2b Notes Int. Carryover Shortfall |
0.00 | |||
Class A-3 Notes Monthly Interest |
||||
Class A-3 Notes Interest Carryover Shortfall |
0.00 | |||
Class A-3 Notes Interest on Interest Carryover Shortfall |
0.00 | |||
Class A-3 Notes Monthly Available Interest Distribution Amount |
1,460.67 | |||
Class A-3 Notes Monthly Interest Paid |
1,460.67 | |||
Chg in Class A-3 Notes Int. Carryover Shortfall |
0.00 | |||
Class A-4 Monthly Interest |
||||
Class A-4 Notes Interest Carryover Shortfall |
0.00 | |||
Class A-4 Notes Interest on Interest Carryover Shortfall |
0.00 | |||
Class A-4 Notes Monthly Available Interest Distribution Amount |
39,036.67 | |||
Class A-4 Notes Monthly Interest Paid |
39,036.67 | |||
Chg in Class A-4 Notes Int. Carryover Shortfall |
0.00 | |||
Certificate Monthly Interest |
||||
Certificate Interest Carryover Shortfall |
0.00 | |||
Certificate Interest on Interest Carryover Shortfall |
0.00 | |||
Certificate Monthly Available Interest Distribution Amount |
0.00 | |||
Certificate Monthly Interest Paid |
0.00 | |||
Chg in Certificate Int. Carryover Shortfall |
0.00 | |||
Total Note and Certificate Monthly Interest |
||||
Total Note and Certificate Monthly Interest Due |
40,497.34 | |||
Total Note and Certificate Monthly Interest Paid |
40,497.34 | |||
Total Note and Certificate Interest Carryover Shortfall |
0.00 | |||
Chg in Total Note and Certificate Int. Carryover Shortfall |
0.00 | |||
Total Available for Principal Distribution |
49,462,793.78 | |||
6. Total Monthly Principal Paid on the Notes |
||||
Total Monthly Principal Paid on the Class A Notes |
39,528,636.48 | |||
Total Class A Noteholders Principal Carryover Shortfall |
0.00 | |||
Total Class A Noteholders Principal Distributable Amount |
39,528,636.48 | |||
Chg in Total Class A Noteholders Principal Carryover Shortfall |
0.00 | |||
7. Total Monthly Principal Paid on the Certificates |
0.00 | |||
Total Certificateholders Principal Carryover Shortfall |
0.00 | |||
Total Certificateholders Principal Distributable Amount |
0.00 | |||
Chg in Total Certificateholders Principal Carryover Shortfall |
0.00 | |||
Remaining Available Collections |
9,934,157.30 |
NISSAN AUTO LEASE TRUST 2020-B
Servicers Report
IV. RESERVE ACCOUNT |
||||||||||||
Initial Reserve Account Amount |
7,634,738.57 | |||||||||||
Required Reserve Account Amount |
7,634,738.57 | |||||||||||
Beginning Reserve Account Balance |
7,634,738.57 | |||||||||||
Additional Cash Infusion |
0.00 | |||||||||||
Reinvestment Income for the Period |
0.00 | |||||||||||
Reserve Fund Available for Distribution |
7,634,738.57 | |||||||||||
Reserve Fund Draw Amount |
0.00 | |||||||||||
Deposit of Remaining Available Collections |
9,934,157.30 | |||||||||||
Gross Reserve Account Balance |
17,568,895.87 | |||||||||||
Remaining Available Collections Released to Seller |
9,934,157.30 | |||||||||||
Total Ending Reserve Account Balance |
7,634,738.57 | |||||||||||
V. POOL STATISTICS | ||||||||||||
Weighted Average Remaining Maturity |
4.53 | |||||||||||
Monthly Prepayment Speed |
76 | % | ||||||||||
Lifetime Prepayment Speed |
61 | % | ||||||||||
$ | units | |||||||||||
Recoveries of Defaulted and Casualty Receivables |
775,104.53 | |||||||||||
Securitization Value of Defaulted Receivables and Casualty Receivables |
471,081.84 | 32 | ||||||||||
Aggregate Defaulted and Casualty Gain (Loss) |
304,022.69 | |||||||||||
Pool Balance at Beginning of Collection Period |
351,624,009.36 | |||||||||||
Net Loss Ratio |
||||||||||||
Current Collection Period |
0.0865 | % | ||||||||||
Preceding Collection Period |
0.0884 | % | ||||||||||
Second Preceding Collection Period |
0.0567 | % | ||||||||||
Third Preceding Collection Period |
0.0612 | % | ||||||||||
Cumulative Net Losses for all Periods |
-0.7518 | % | (11,479,782.73 | ) | ||||||||
% of BOP Pool Balance | Amount | Number | ||||||||||
Delinquent Receivables: |
||||||||||||
31-60 Days Delinquent |
0.80 | % | 2,817,785.51 | 183 | ||||||||
61-90 Days Delinquent |
0.20 | % | 709,009.01 | 48 | ||||||||
91-120 Days Delinquent |
0.11 | % | 376,904.37 | 22 | ||||||||
More than 120 Days |
0.03 | % | 119,064.21 | 7 | ||||||||
|
|
|
|
|||||||||
Total Delinquent Receivables: |
1.11 | % | 4,022,763.10 | 260 | ||||||||
Amount | Number | |||||||||||
61+ Days Delinquencies as Percentage of Receivables |
||||||||||||
Current Collection Period |
0.34 | % | 0.34 | % | ||||||||
Preceding Collection Period |
0.31 | % | 0.31 | % | ||||||||
Second Preceding Collection Period |
0.27 | % | 0.26 | % | ||||||||
Third Preceding Collection Period |
0.20 | % | 0.20 | % | ||||||||
60 Day Delinquent Receivables |
1,395,099.03 | |||||||||||
Delinquency Percentage |
0.40 | % | ||||||||||
Delinquency Trigger |
4.40 | % | ||||||||||
Does the Delinquency Percentage exceed the Delinquency Trigger? |
No | |||||||||||
$ | units | |||||||||||
Aggregate Sales Performance of Auctioned Vehicles |
||||||||||||
Sales Proceeds |
2,686,179.30 | 119 | ||||||||||
Securitization Value |
2,341,533.04 | 119 | ||||||||||
|
|
|||||||||||
Aggregate Residual Value Surplus (Loss) |
344,646.26 | |||||||||||
$ | units | |||||||||||
Cumulative Sales Performance of Auctioned Vehicles |
||||||||||||
Cumulative Sales Proceeds |
46,703,265.36 | 1,987 | ||||||||||
Cumulative Securitization Value |
37,081,913.05 | 1,987 | ||||||||||
|
|
|||||||||||
Cumulative Residual Value Surplus (Loss) |
9,621,352.31 | |||||||||||
|
|
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VI. RECONCILIATION OF ADVANCES | ||||||||||||
Beginning Balance of Residual Advance |
2,123,817.39 | |||||||||||
Reimbursement of Outstanding Advance |
1,557,009.73 | |||||||||||
Additional Advances for current period |
1,726,013.21 | |||||||||||
|
|
|||||||||||
Ending Balance of Residual Advance |
2,292,820.87 | |||||||||||
|
|
|||||||||||
Beginning Balance of Payment Advance |
847,776.91 | |||||||||||
Reimbursement of Outstanding Payment Advance |
366,138.32 | |||||||||||
Additional Payment Advances for current period |
328,051.99 | |||||||||||
|
|
|||||||||||
Ending Balance of Payment Advance |
809,690.58 | |||||||||||
|
|
NISSAN AUTO LEASE TRUST 2020-B
Servicers Report
VII. STATEMENTS TO NOTEHOLDERS | ||||||||
1. Has there been any material change in practices with respect to charge-offs, collection and management of delinquent Leases, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience? |
NO | |||||||
2. Have there been any material modifications, extensions or waivers to Lease terms, fees, penalties or payments during the Collection Period? |
NO | |||||||
3. Have there been any material breaches of representations, warranties or covenants contained in the Leases? |
NO | |||||||
4. Has there been any new issuance of notes or other securities backed by the SUBI Assets? |
NO | |||||||
5. Has there been any material additions, removals or substitutions of SUBI Assets, or repurchases of SUBI Assets? |
NO | |||||||
6. Has there been any material change in the underwriting, origination or acquisition of Leases? |
NO |