Exhibit 99.1
Hyundai Auto Receivables Trust 2019-B
Monthly Servicing Report
Collection Period | December 2022 | |||||
Distribution Date | 01/17/23 | |||||
Transaction Month | 38 | |||||
30/360 Days | 30 | |||||
Actual/360 Days | 33 |
I. ORIGINAL DEAL PARAMETERS
Cut off Date: | September 13, 2019 | ||||||||||||||||||||
Closing Date: | November 6, 2019 | ||||||||||||||||||||
Dollars | Units | WAC | WARM | ||||||||||||||||||
Original Pool Balance: | $ | 1,165,566,589.33 | 57,644 | 3.91 | % | 56.21 | |||||||||||||||
Original Adj. Pool Balance: | $ | 1,125,945,908.68 | |||||||||||||||||||
Amount | % of Pool | Note Rate | Final Payment Date | ||||||||||||||||||
Class A-1 Notes | Fixed | $ | 247,000,000.00 | 21.191 | % | 1.90713 | % | October 15, 2020 | |||||||||||||
Class A-2 Notes | Fixed | $ | 348,000,000.00 | 29.857 | % | 1.93000 | % | July 15, 2022 | |||||||||||||
Class A-3 Notes | Fixed | $ | 348,000,000.00 | 29.857 | % | 1.94000 | % | February 15, 2024 | |||||||||||||
Class A-4 Notes | Fixed | $ | 100,750,000.00 | 8.644 | % | 2.00000 | % | April 15, 2025 | |||||||||||||
Class B Notes | Fixed | $ | 20,260,000.00 | 1.738 | % | 2.21000 | % | April 15, 2025 | |||||||||||||
Class C Notes | Fixed | $ | 33,800,000.00 | 2.900 | % | 2.40000 | % | June 15, 2026 | |||||||||||||
Total Securities | $ | 1,097,810,000.00 | 94.187 | % | |||||||||||||||||
Overcollateralization | $ | 28,135,908.68 | 2.414 | % | |||||||||||||||||
YSOA | $ | 39,620,680.65 | 3.399 | % | |||||||||||||||||
Total Original Pool Balance | $ | 1,165,566,589.33 | 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 | $ | - | - | $ | - | - | $ | - | ||||||||||||||
Class A-4 Notes | $ | 90,279,920.96 | 0.8960786 | $ | 77,756,593.38 | 0.7717776 | $ | 12,523,327.58 | ||||||||||||||
Class B Notes | $ | 20,260,000.00 | 1.0000000 | $ | 20,260,000.00 | 1.0000000 | $ | - | ||||||||||||||
Class C Notes | $ | 33,800,000.00 | 1.0000000 | $ | 33,800,000.00 | 1.0000000 | $ | - | ||||||||||||||
Total Securities | $ | 144,339,920.96 | 0.1314799 | $ | 131,816,593.38 | 0.1200723 | $ | 12,523,327.58 | ||||||||||||||
Weighted Avg. Coupon (WAC) | 3.76 | % | 3.77 | % | ||||||||||||||||||
Weighted Avg. Remaining Maturity (WARM) | 22.37 | 21.59 | ||||||||||||||||||||
Pool Receivables Balance | $ | 182,730,038.80 | $ | 169,796,965.10 | ||||||||||||||||||
Remaining Number of Receivables | 24,785 | 24,092 | ||||||||||||||||||||
Adjusted Pool Balance | $ | 178,118,298.22 | $ | 165,594,970.64 | ||||||||||||||||||
III. COLLECTIONS
Principal: | ||||
Principal Collections | $ | 12,742,696.36 | ||
Repurchased Contract Proceeds Related to Principal | $ | - | ||
Recoveries/Liquidation Proceeds | $ | 81,030.61 | ||
Total Principal Collections | $ | 12,823,726.97 | ||
Interest: | ||||
Interest Collections | $ | 576,177.18 | ||
Late Fees & Other Charges | $ | 28,932.73 | ||
Interest on Repurchase Principal | $ | - | ||
Total Interest Collections | $ | 605,109.91 | ||
Collection Account Interest | $ | 40,984.86 | ||
Reserve Account Interest | $ | 9,443.57 | ||
Servicer Advances | $ | - | ||
Total Collections | $ | 13,479,265.31 |
2019B Report | 1 of 4 |
Hyundai Auto Receivables Trust 2019-B
Monthly Servicing Report
Collection Period | December 2022 | |||||
Distribution Date | 01/17/23 | |||||
Transaction Month | 38 | |||||
30/360 Days | 30 | |||||
Actual/360 Days | 33 |
IV. DISTRIBUTIONS
Total Collections | $ | 13,479,265.31 | |||||||||||||||||||
Reserve Account Release | $ | - | |||||||||||||||||||
Reserve Account Draw | $ | - | |||||||||||||||||||
Total Available for Distribution | $ | 13,479,265.31 | |||||||||||||||||||
Amount Due | Interest Pymt Due but unpaid from prior periods | Amount Paid | |||||||||||||||||||
1. Servicing Fee @1.00%: | |||||||||||||||||||||
Servicing Fee Due | 1.00 | % | $ | 152,275.03 | $ | - | $ | 152,275.03 | 152,275.03 | ||||||||||||
Collection Account Interest | $ | 40,984.86 | |||||||||||||||||||
Late Fees & Other Charges | $ | 28,932.73 | |||||||||||||||||||
Total due to Servicer | $ | 222,192.62 | |||||||||||||||||||
2. Class A Noteholders Interest: | |||||||||||||||||||||
Class A-1 Notes | $ | - | $ | - | |||||||||||||||||
Class A-2 Notes | $ | - | $ | - | |||||||||||||||||
Class A-3 Notes | $ | - | $ | - | |||||||||||||||||
Class A-4 Notes | $ | 150,466.53 | $ | 150,466.53 | |||||||||||||||||
Total Class A interest: | $ | 150,466.53 | $ | 150,466.53 | 150,466.53 | ||||||||||||||||
3. First Priority Principal Distribution: | $ | - | $ | - | 0.00 | ||||||||||||||||
4. Class B Noteholders Interest: | $ | 37,312.17 | $ | 37,312.17 | 37,312.17 | ||||||||||||||||
5. Second Priority Principal Distribution: | $ | - | $ | - | 0.00 | ||||||||||||||||
6. Class C Noteholders Interest: | $ | 67,600.00 | $ | 67,600.00 | 67,600.00 | ||||||||||||||||
Available Funds Remaining: | $ | 13,001,693.99 | |||||||||||||||||||
7. Regular Principal Distribution Amount: | 12,523,327.58 | ||||||||||||||||||||
Distributable Amount | Paid Amount | ||||||||||||||||||||
Class A-1 Notes | $ | - | |||||||||||||||||||
Class A-2 Notes | $ | - | |||||||||||||||||||
Class A-3 Notes | $ | - | |||||||||||||||||||
Class A-4 Notes | $ | 12,523,327.58 | |||||||||||||||||||
Class A Notes Total: | $ | 12,523,327.58 | $ | 12,523,327.58 | |||||||||||||||||
Class B Notes Total: | $ | - | $ | - | |||||||||||||||||
Class C Notes Total: | $ | - | $ | - | |||||||||||||||||
Total Noteholders Principal | $ | 12,523,327.58 | $ | 12,523,327.58 | |||||||||||||||||
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 | 478,366.41 | ||||||||||||||||||||
V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
Beginning Period Required Amount | $ | 4,611,740.58 | ||
Beginning Period Amount | $ | 4,611,740.58 | ||
Current Period Amortization | $ | 409,746.12 | ||
Ending Period Required Amount | $ | 4,201,994.46 | ||
Ending Period Amount | $ | 4,201,994.46 | ||
Next Distribution Date Required Amount | $ | 3,816,576.11 | ||
2019B Report | 2 of 4 |
Hyundai Auto Receivables Trust 2019-B
Monthly Servicing Report
Collection Period | December 2022 | |||||
Distribution Date | 01/17/23 | |||||
Transaction Month | 38 | |||||
30/360 Days | 30 | |||||
Actual/360 Days | 33 |
VI. RESERVE ACCOUNT
Reserve Percentage of Initial Adjusted Pool Balance | 0.25 | % | ||
Beginning Period Required Amount | $ | 2,814,864.77 | ||
Beginning Period Amount | $ | 2,814,864.77 | ||
Current Period Release to Collection Account | $ | - | ||
Current Period Deposit | $ | - | ||
Current Period Release to Depositor | $ | - | ||
Ending Period Required Amount (0.25% of APB of cut-off date) | $ | 2,814,864.77 | ||
Ending Period Amount | $ | 2,814,864.77 |
VII. OVERCOLLATERALIZATION
Overcollateralization Target | 3.00 | % | ||||||||||||||||||
Overcollateralization Floor | 3.00 | % | ||||||||||||||||||
Beginning | Ending | Target | ||||||||||||||||||
Overcollateralization Amount | $ | 33,778,377.26 | $ | 33,778,377.26 | $ | 33,778,377.26 | ||||||||||||||
Overcollateralization as a % of Original Adjusted Pool | 3.00 | % | 3.00 | % | 3.00 | % | ||||||||||||||
Overcollateralization as a % of Current Adjusted Pool | 18.96 | % | 20.40 | % | 20.40 | % | ||||||||||||||
VIII. DELINQUENCY AND NET LOSS ACTIVITY | ||||||||||||||||||||
Delinquent Receivables | Units Percent | Units | Dollars Percent | Amount | ||||||||||||||||
Current | 98.26 | % | 23,673 | 97.48 | % | $ | 165,516,791.62 | |||||||||||||
30 - 60 Days | 1.27 | % | 305 | 1.81 | % | $ | 3,069,084.59 | |||||||||||||
61 - 90 Days | 0.36 | % | 87 | 0.53 | % | $ | 900,577.70 | |||||||||||||
91-120 Days | 0.10 | % | 23 | 0.15 | % | $ | 262,580.85 | |||||||||||||
121 + Days | 0.02 | % | 4 | 0.03 | % | $ | 47,930.34 | |||||||||||||
Total | 24,092 | $ | 169,796,965.10 | |||||||||||||||||
Delinquent Receivables 30+ Days Past Due | ||||||||||||||||||||
Current Period | 1.74 | % | 419 | 2.52 | % | $ | 4,280,173.48 | |||||||||||||
1st Preceding Collection Period | 1.64 | % | 407 | 2.32 | % | $ | 4,237,741.36 | |||||||||||||
2nd Preceding Collection Period | 1.59 | % | 404 | 2.23 | % | $ | 4,362,653.50 | |||||||||||||
3rd Preceding Collection Period | 1.45 | % | 376 | 2.00 | % | $ | 4,177,263.64 | |||||||||||||
Four-Month Average | 1.60 | % | 2.27 | % | ||||||||||||||||
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance | 0.71 | % | ||||||||||||||||||
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N) | No | |||||||||||||||||||
Repossession in Current Period | 13 | $ | 138,869.63 | |||||||||||||||||
Repossession Inventory | 35 | $ | 418,043.16 | |||||||||||||||||
Current Charge-Offs | ||||||||||||||||||||
Gross Principal of Charge-Offs | $ | 190,377.34 | ||||||||||||||||||
Recoveries | $ | (81,030.61 | ) | |||||||||||||||||
Net Loss | $ | 109,346.73 | ||||||||||||||||||
Ratio of Current Net Loss to Beginning Pool Balance (annualized) | 0.72 | % | ||||||||||||||||||
Average Pool Balance for Current Period | $ | 176,263,501.95 | ||||||||||||||||||
Ratio of Current Net Loss to Average Pool Balance (annualized) | ||||||||||||||||||||
Current Period | 0.74 | % | ||||||||||||||||||
1st Preceding Collection Period | -0.64 | % | ||||||||||||||||||
2nd Preceding Collection Period | 0.90 | % | ||||||||||||||||||
3rd Preceding Collection Period | 0.73 | % | ||||||||||||||||||
Four-Month Average | 0.43 | % | ||||||||||||||||||
Cumulative Charge-Offs | Change
in units from prior period | Cumulative Units | Cumulative Amount | |||||||||||||||||
Gross Principal of Charge-Offs | 17 | 1,471 | $ | 21,326,021.57 | ||||||||||||||||
Recoveries | 8 | 1,158 | $ | (11,407,248.85 | ) | |||||||||||||||
Net Loss | $ | 9,918,772.72 | ||||||||||||||||||
Cumulative Net Loss as a % of Initial Pool Balance | 0.85 | % | ||||||||||||||||||
Net Loss for Receivables that have experienced a Net Loss * | 15 | 1,203 | $ | 9,926,075.86 | ||||||||||||||||
Average Net Loss for Receivables that have experienced a Net Loss | $ | 8,251.10 | ||||||||||||||||||
Principal Balance of Extensions | $ | 890,619.40 | ||||||||||||||||||
Number of Extensions | 87 |
* 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.
2019B Report | 3 of 4 |
Hyundai Auto Receivables Trust 2019-B
Monthly Servicing Report
Collection Period | December 2022 | |||||
Distribution Date | 01/17/23 | |||||
Transaction Month | 38 | |||||
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.
2019B Report | 4 of 4 |