Exhibit 99.1

 

Hyundai Auto Receivables Trust 2020-A 

Monthly Servicing Report

 

 

Collection Period           December 2022
Distribution Date           01/17/23
Transaction Month                                          33
30/360 Days           30
Actual/360 Days           33

 

I. ORIGINAL DEAL PARAMETERS

 

Cut off Date:      March 17, 2020               
Closing Date:      April 29, 2020               
                     
        Dollars    Units    WAC    WARM   
Original Pool Balance:      $1,238,223,758.71    54,503    3.54%   58.44   
Original Adj. Pool Balance:      $1,182,894,632.77                    
                             
        Amount    % of Pool    Note Rate     Final Payment Date
   Class A-1 Notes Fixed      $241,670,000.00    19.517%   1.19763%      May 17, 2021  
   Class A-2 Notes Fixed      $404,520,000.00    32.669%   1.51000%      April 17, 2023  
   Class A-3 Notes Fixed      $374,520,000.00    30.247%   1.41000%      November 15, 2024  
   Class A-4 Notes Fixed      $75,850,000.00    6.126%   1.72000%      June 15, 2026  
   Class B Notes Fixed      $21,290,000.00    1.719%   2.57000%      June 15, 2026  
   Class C Notes  Fixed      $35,490,000.00    2.866%   3.41000%      December 15, 2026  
Total Securities      $1,153,340,000.00    93.145%              
                             
   Overcollateralization      $29,554,632.77    2.387%              
   YSOA      $55,329,125.94    4.468%              
Total Original Pool Balance      $1,238,223,758.71    100.00%              
                             

 

II. POOL BALANCE AND PORTFOLIO INFORMATION

 

       Beginning of Period    Ending of Period  Change  
         Balance      Note Factor      Balance      Note Factor    
   Class A-1 Notes      $-    -   $-    -  $- 
   Class A-2 Notes      $-    -   $-    -  $- 
   Class A-3 Notes      $145,178,302.82    0.3876383   $128,581,674.73    0.3433239  $16,596,628.09 
   Class A-4 Notes      $75,850,000.00    1.0000000   $75,850,000.00    1.0000000  $- 
   Class B Notes      $21,290,000.00    1.0000000   $21,290,000.00    1.0000000  $- 
   Class C Notes      $35,490,000.00    1.0000000   $35,490,000.00    1.0000000  $- 
Total Securities      $277,808,302.82    0.2408729   $261,211,674.73    0.2264828  $16,596,628.09 
                             
Weighted Avg. Coupon (WAC)       3.17%        3.16%         
Weighted Avg. Remaining Maturity (WARM)   28.95         28.09          
Pool Receivables Balance      $325,114,645.10        $307,698,252.72          
Remaining Number of Receivables       30,181         29,579          
                             
Adjusted Pool Balance      $313,295,141.80        $296,698,513.71          
                             

 

III. COLLECTIONS

 

Principal:   
     Principal Collections  $16,977,710.39 
     Repurchased Contract Proceeds Related to Principal  $- 
     Recoveries/Liquidation Proceeds  $283,171.50 
Total Principal Collections  $17,260,881.89 
      
Interest:     
     Interest Collections  $863,560.22 
     Late Fees & Other Charges  $51,669.87 
     Interest on Repurchase Principal  $- 
Total Interest Collections  $915,230.09 
      
Collection Account Interest  $53,528.81 
Reserve Account Interest  $39,577.79 
Servicer Advances  $- 
      
Total Collections  $18,269,218.58 
2020A Report 1 of 4 

 

Hyundai Auto Receivables Trust 2020-A 

Monthly Servicing Report

 

 

Collection Period           December 2022
Distribution Date           01/17/23
Transaction Month                                          33
30/360 Days           30
Actual/360 Days           33

 

IV. DISTRIBUTIONS

 

     Total Collections                $18,269,218.58 
     Reserve Account Release                $- 
     Reserve Account Draw                $- 
Total Available for Distribution                $18,269,218.58 
      Amount Due  

Interest Pymt Due
but unpaid from

prior periods

    Amount Paid             
1.  Servicing Fee @1.00%:                             
     Servicing Fee Due 1.00%  $270,928.87   $    -   $270,928.87           270,928.87 
     Collection Account Interest                          $53,528.81 
     Late Fees & Other Charges                          $51,669.87 
Total due to Servicer                          $376,127.55 
                              
2.  Class A Noteholders Interest:                             
     Class A-1 Notes    $-        $-             
     Class A-2 Notes    $-        $-             
     Class A-3 Notes    $170,584.51        $170,584.51             
     Class A-4 Notes    $108,718.33        $108,718.33             
                              
          Total Class A interest:    $279,302.84        $279,302.84           279,302.84 
                              
3.  First Priority Principal Distribution:  $-        $-           0.00 
                              
4.   Class B Noteholders Interest:  $45,596.08        $45,596.08           45,596.08 
                              
5.  Second Priority Principal Distribution:  $-        $-           0.00 
                              
6.   Class C Noteholders Interest:  $100,850.75        $100,850.75           100,850.75 
                              
          Available Funds Remaining:                   $17,467,341.36 
                              
7.   Regular Principal Distribution Amount:                         16,596,628.09 
                              
     Distributable Amount        Paid Amount             
     Class A-1 Notes              $-             
     Class A-2 Notes              $-             
     Class A-3 Notes              $16,596,628.09             
     Class A-4 Notes              $-             
          Class A Notes Total:    $16,596,628.09        $16,596,628.09             
          Class B Notes Total:    $-        $-             
          Class C Notes Total:    $-        $-             
               Total Noteholders Principal    $16,596,628.09        $16,596,628.09             
                              
8.  Required Deposit to Reserve Account                   0.00 
                              
9.  Trustee Expenses and Asset Representations Reviewer Expenses                    0.00 
                              
10.  Remaining Available Collections Released to Certificateholder                    870,713.27 
                              
                              
V.  YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
                              
Beginning Period Required Amount                  $11,819,503.30 
Beginning Period Amount                $11,819,503.30 
Current Period Amortization                $819,764.29 
Ending Period Required Amount                $10,999,739.01 
Ending Period Amount                $10,999,739.01 
Next Distribution Date Required Amount                $10,212,321.92 
2020A Report 2 of 4 

 

Hyundai Auto Receivables Trust 2020-A 

Monthly Servicing Report

 

 

Collection Period           December 2022
Distribution Date           01/17/23
Transaction Month                                          33
30/360 Days           30
Actual/360 Days           33

 

VI.  RESERVE ACCOUNT              
                          
Reserve Percentage of Initial Adjusted Pool Balance   1.00%
Beginning Period Required Amount  $11,828,946.33 
Beginning Period Amount  $11,828,946.33 
Current Period Release to Collection Account  $- 
Current Period Deposit  $- 
Current Period Release to Depositor  $- 
Ending Period Required Amount (1.00% of APB of cut-off date)  $11,828,946.33 
Ending Period Amount  $11,828,946.33 
                          
                          
VII.  OVERCOLLATERALIZATION                         
                          
Overcollateralization Target   3.00%                    
Overcollateralization Floor   3.00%                    
             Beginning   Ending   Target 
Overcollateralization Amount            $35,486,838.98   $35,486,838.98   $35,486,838.98 
Overcollateralization as a % of Original Adjusted Pool             3.00%   3.00%   3.00%
Overcollateralization as a % of Current Adjusted Pool             11.33%   11.96%   11.96%
                          

 

VIII.  DELINQUENCY AND NET LOSS ACTIVITY               
                          
Delinquent Receivables       Units Percent   Units   Dollars Percent   Amount 
     Current        98.12%   29,022    97.70%  $300,613,543.87 
     30 - 60 Days        1.42%   419    1.75%  $5,381,891.25 
     61 - 90 Days        0.34%   102    0.40%  $1,243,637.70 
     91-120 Days        0.11%   34    0.14%  $423,189.65 
     121 + Days        0.01%   2    0.01%  $35,990.25 
     Total             29,579        $307,698,252.72 
                          
Delinquent Receivables 30+ Days Past Due                         
     Current Period        1.88%   557    2.30%  $7,084,708.85 
     1st Preceding Collection Period        1.81%   546    2.16%  $7,031,404.63 
     2nd Preceding Collection Period        1.73%   533    2.02%  $6,918,847.03 
     3rd Preceding Collection Period        1.80%   564    2.06%  $7,418,264.39 
     Four-Month Average        1.81%        2.14%     
                          
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance   0.55%     
    Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)   No      
                          
Repossession in Current Period28        $440,047.72 
Repossession Inventory58        $839,080.22 
                          
Current Charge-Offs            
     Gross Principal of Charge-Offs         $438,681.99 
     Recoveries                      $(283,171.50)
     Net Loss                      $155,510.49 
                          
Ratio of Current Net Loss to Beginning Pool Balance (annualized)    0.57%
                          
Average Pool Balance for Current Period   $316,406,448.91 
                          
Ratio of Current Net Loss to Average Pool Balance (annualized)      
      Current Period    0.59%
      1st Preceding Collection Period    1.19%
      2nd Preceding Collection Period    0.42%
      3rd Preceding Collection Period    0.31%
      Four-Month Average    0.63%
                          
Cumulative Charge-Offs   

Change in units from

prior period

   Cumulative Units   Cumulative Amount 
     Gross Principal of Charge-Offs   37    1,584   $23,254,114.41 
     Recoveries   35    1,191   $(11,795,030.28)
     Net Loss            $11,459,084.13 
Cumulative Net Loss as a % of Initial Pool Balance            0.93%
                          
Net Loss for Receivables that have experienced a Net Loss *  26    1,286   $11,484,482.01 
Average Net Loss for Receivables that have experienced a Net Loss           $8,930.39 
                          
Principal Balance of Extensions           $1,360,584.00 
Number of Extensions            97 

 

* Excludes receivables with recovered amounts equal to or in excess of principal charge-offs due to the recovery of assessments, such as interest and fees.

2020A Report 3 of 4 

 

Hyundai Auto Receivables Trust 2020-A 

Monthly Servicing Report

 

 

Collection Period           December 2022
Distribution Date           01/17/23
Transaction Month                                          33
30/360 Days           30
Actual/360 Days           33

 

IX.  CREDIT RISK RETENTION INFORMATION
 
There were no material changes in the retained interest in the transaction.
2020A Report 4 of 4