Exhibit 20
WORLD OMNI FINANCIAL CORP.
WORLD OMNI MASTER OWNER TRUST
SERIES 2003-VFN-A, 2003-VFN-B and 2004-1 SUPPLEMENTS
CERTIFICATE DATE AS OF : November 15, 2004
POOL BALANCE: | Month of: October , 2004 | |||
Pool Balance, beginning of month | $ | 458,985,150.65 | ||
Pool Balance, end of month | $ | 451,505,087.04 | ||
Pool Balance, average | $ | 456,194,799.07 | ||
Required Pool Balance, end of month | $ | 451,505,087.04 | ||
COLLECTIONS & SERIES ALLOCATIONS | Month of: October , 2004 | |||
Series Allocable Principal Collections | ||||
Series 2003-VFN-A | $ | 25,744,828.37 | ||
Series 2003-VFN-B | $ | 9,843,610.85 | ||
Series 2004-1 | $ | 275,501,320.53 | ||
| $ | 311,089,759.75 | |||
Series Allocable Non-Principal Collections | ||||
Series 2003-VFN-A | $ | 120,675.63 | ||
Series 2003-VFN-B | $ | 46,140.69 | ||
Series 2004-1 | $ | 1,291,377.65 | ||
| $ | 1,458,193.97 | |||
Series Allocable Miscellaneous Payments | ||||
Series 2003-VFN-A | $ | — | ||
Series 2003-VFN-B | $ | — | ||
Series 2004-1 | $ | — | ||
| $ | — | |||
Investment Proceeds | ||||
Series 2003-VFN-A | $ | 890.28 | ||
Series 2003-VFN-B | $ | 345.77 | ||
Series 2004-1 | $ | 7,030.78 | ||
| $ | 8,266.83 | |||
CONTROLLED DEPOSIT AMOUNT FOR COLLECTION PERIOD | Month of: October , 2004 | |||
2003-VFN-A | $ | 0.00 | ||
2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
ALLOCATION PERCENTAGES FOR COLLECTION PERIOD | First day of: October , 2004 | |||
Series Allocation Percentages | ||||
Series 2003-VFN-A | 8.28 | % | ||
Series 2003-VFN-B | 3.16 | % | ||
Series 2004-1 | 88.56 | % | ||
Floating Allocation Percentages | ||||
Series 2003-VFN-A | 89.51 | % | ||
Series 2003-VFN-B | 89.51 | % | ||
Series 2004-1 | 86.11 | % | ||
Principal Allocation Percentages | ||||
Series 2003-VFN-A | 0.00 | % | ||
Series 2003-VFN-B | 0.00 | % | ||
Series 2004-1 | 0.00 | % | ||
Page 1 of 5
ALLOCATIONS OF SERIES ALLOCABLE AMOUNTS WITHIN SERIES | Month of: October , 2004 | ||
Series 2003-VFN-A | |||
Series Allocable Principal Collections | |||
Excess Certificateholder Collections: | $ | 283,460.21 | |
Noteholder Collections: | $ | 23,044,431.42 | |
Additional Noteholder Collections: | $ | 2,416,936.73 | |
| $ | 25,744,828.36 | ||
Series Allocable Non-Principal Collections | |||
Excess Certificateholder Collections: | $ | 1,328.68 | |
Noteholder Collections: | $ | 108,017.86 | |
Additional Noteholder Collections: | $ | 11,329.09 | |
| $ | 120,675.63 | ||
Series 2003-VFN-B | |||
Series Allocable Principal Collections | |||
Excess Certificateholder Collections: | $ | 108,381.84 | |
Noteholder Collections: | $ | 8,811,106.13 | |
Additional Noteholder Collections: | $ | 924,122.87 | |
| $ | 9,843,610.84 | ||
Series Allocable Non-Principal Collections | |||
Excess Certificateholder Collections: | $ | 508.03 | |
Noteholder Collections: | $ | 41,300.95 | |
Additional Noteholder Collections: | $ | 4,331.71 | |
| $ | 46,140.69 | ||
Series 2004-1 | |||
Series Allocable Principal Collections | |||
Excess Certificateholder Collections: | $ | 3,033,372.80 | |
Noteholder Collections: | $ | 237,222,088.25 | |
Additional Noteholder Collections: | $ | 35,245,859.48 | |
| $ | 275,501,320.53 | ||
Series Allocable Non-Principal Collections | |||
Excess Certificateholder Collections: | $ | 14,218.55 | |
Noteholder Collections: | $ | 1,111,948.58 | |
Additional Noteholder Collections: | $ | 165,210.52 | |
| $ | 1,291,377.65 | ||
MONTHLY DISTRIBUTIONS | Paid on: November 15, 2004 | ||
Principal Distributions to Investors | |||
Series 2003-VFN-A | $ | — | |
Series 2003-VFN-B | $ | — | |
Series 2004-1 | $ | — | |
Principal Distributions to Investors - $ per thousand | |||
Series 2003-VFN-A | $ | 0.00000000 | |
Series 2003-VFN-B | $ | 0.00000000 | |
Series 2004-1 | $ | 0.00000000 | |
Monthly Interest to Investors | |||
Series 2003-VFN-A | $ | 79,823.40 | |
Series 2003-VFN-B | $ | 30,312.00 | |
Series 2004-1 | $ | 584,694.44 | |
Monthly Interest to Investors - $ per thousand | |||
Series 2003-VFN-A | $ | 2.34774711 | |
Series 2003-VFN-B | $ | 2.33169233 | |
Series 2004-1 Class A | $ | 1.67055556 | |
Rated Variable Funding Increased Cost Amounts | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Noteholder Monthly Servicing Fee | |||
Series 2003-VFN-A | $ | 28,333.33 | |
Series 2003-VFN-B | $ | 10,833.33 | |
Series 2004-1 | $ | 291,666.67 | |
Reserve Fund Deposit Amount | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
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MONTHLY DISTRIBUTIONS (Cont.) | Paid on: November 15, 2004 | ||
Investor Default Amount | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
Monthly Dilution Amount | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
Noteholder Charge-Off Reversal Amount | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
Investor Default Amount and Monthly Dilution Amount Not Previously Reinstated | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
Carry-Over Amount | |||
Series 2004-1 | $ | 0.00 | |
Unrated Variable Funding Increased Cost Amounts | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Previously waived servicing fee | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
Deposits to Principal Funding Account | |||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
Collections Released to Cert. during Collection Period | $ | 311,162,103.01 | |
Excess Distributed to Cert. on Payment Date | $ | 368,454.37 | |
FUNDED AND INVESTED AMOUNTS: | Last day of: October , 2004 | ||
SERIES 2003-VFN-A SUPPLEMENT | |||
Initial Funded Amount | $ | 200,000,000.00 | |
Incremental Funded Amounts (Cumulative) | $ | 125,000,000.00 | |
Principal Distributed to Investors (Cumulative) | $ | 291,000,000.00 | |
Unreimbursed Investor Charge Offs (Cumulative) | $ | 0.00 | |
Funded Amount | $ | 34,000,000.00 | |
Series Excess Funding Amount | $ | 261,145.78 | |
Principal Funding Account Balance | $ | 0.00 | |
Invested Amount | $ | 33,738,854.22 | |
SERIES 2003-VFN-B SUPPLEMENT | |||
Initial Funded Amount | $ | 100,000,000.00 | |
Incremental Funded Amounts (Cumulative) | $ | 35,000,000.00 | |
Principal Distributed to Investors (Cumulative) | $ | 122,000,000.00 | |
Unreimbursed Investor Charge Offs (Cumulative) | $ | 0.00 | |
Funded Amount | $ | 13,000,000.00 | |
Series Excess Funding Amount | $ | 99,849.86 | |
Principal Funding Account Balance | $ | 0.00 | |
Invested Amount | $ | 12,900,150.14 | |
SERIES 2004-1 SUPPLEMENT | |||
Initial Invested Amount | $ | 350,000,000.00 | |
Principal Distributed to Investors (Cumulative) | $ | 0.00 | |
Principal Funding Account Balance | $ | 0.00 | |
Unreimbursed Investor Charge Offs (Cumulative) | $ | 0.00 | |
Series Excess Funding Amount | $ | 2,794,580.92 | |
Invested Amount | $ | 347,205,419.08 | |
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BALANCES AS OF PAYMENT DATE | As of: November 15, 2004 | ||
Series 2003-VFN-A | |||
Reserve Fund Balance | $ | 170,000.00 | |
Reserve Fund Deficiency Amount | $ | 0.00 | |
Principal Funding Account Balance | $ | 0.00 | |
Outstanding Principal Balance | $ | 34,000,000.00 | |
Series 2003-VFN-B | |||
Reserve Fund Balance | $ | 65,000.00 | |
Reserve Fund Deficiency Amount | $ | 0.00 | |
Principal Funding Account Balance | $ | 0.00 | |
Outstanding Principal Balance | $ | 13,000,000.00 | |
Series 2004-1 | |||
Reserve Fund Balance | $ | 1,750,000.00 | |
Reserve Fund Deficiency Amount | $ | 0.00 | |
Principal Funding Account Balance | $ | 0.00 | |
Outstanding Principal Balance, Class A | $ | 350,000,000.00 | |
TRUST INCREMENTAL SUBORDINATED AMOUNT To be used in the following month’s computations. | Last day of: October , 2004 | ||
Pool Total Components of Excess Receivables: | |||
Used Vehicles | $ | 30,228,662.86 | |
Finance Hold Receivables (for Credit Reasons Only) | $ | 0.00 | |
Delayed Payment Program | $ | 123,517.00 | |
Pool Limits on Components of Excess Receivables: | |||
Used Vehicles | $ | 112,876,271.76 | |
Finance Hold Receivables | $ | 0.00 | |
Delayed Payment Program | $ | 9,030,101.74 | |
Total Excess Receivables | $ | 0.00 | |
Overconcentration Amount | $ | 9,078,476.14 | |
Ineligible Amount | $ | 0.00 | |
Trust Incremental Subordinated Amount | $ | 9,078,476.14 | |
POOL SERIES SUBORDINATED AMOUNTS | As of: October 31, 2004 | ||
Series Incremental Subordinated Amount | |||
Series 2003-VFN-A | $ | 683,436.73 | |
Series 2003-VFN-B | $ | 261,314.05 | |
Series 2004-1 | $ | 7,313,613.45 | |
Required Subordinated Amount | |||
Series 2003-VFN-A | $ | 3,617,250.15 | |
Series 2003-VFN-B | $ | 1,383,066.23 | |
Series 2004-1 | $ | 52,430,701.80 | |
Available Subordinated Amount | |||
Series 2003-VFN-A | $ | 3,617,250.15 | |
Series 2003-VFN-B | $ | 1,383,066.23 | |
Series 2004-1 | $ | 52,430,701.80 | |
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CHARGE OFFS | For Month of: October , 2004 | |||
Defaulted Receivables | $ | 0.00 | ||
Investor/Noteholder Defaulted Amount | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Deficiency Amount | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Required Draw Amount | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Investor/Noteholder Charge-Off’s | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
INTEREST AND PRINCIPAL SHORTFALLS (CUMULATIVE) | As of: November 15, 2004 | |||
Interest Shortfalls as of Current Payment Date | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Change in Interest Shortfalls from Previous Payment Date | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Principal Shortfalls as of Current Payment Date | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Change in Principal Shortfalls from Previous Payment Date | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
INTEREST RATE FOR NEXT PAYMENT DATE | As of: November 15, 2004 | |||
Series 2003-VFN-A Estimated | 2.3800000 | % | ||
Series 2003-VFN-B Estimated | 2.3700000 | % | ||
Series 2004-1 | 2.1600000 | % | ||
MONTHLY PAYMENT RATE % | Month of: October , 2004 | |||
MONTHLY PAYMENT RATE % | 68.19 | % | ||
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