EXHIBIT 99.1
WORLD OMNI FINANCIAL CORP.
WORLD OMNI MASTER OWNER TRUST
SERIES 2003-VFN-A, 2003-VFN-B and 2004-1 SUPPLEMENTS
CERTIFICATE DATE AS OF : December 31, 2004
POOL BALANCE: | For the Year ended: December, 2004 | ||
Pool Balance, beginning of period | $ | 529,272,634.84 | |
Pool Balance, end of period | $ | 521,470,378.04 | |
Pool Balance, average | $ | 487,544,698.48 | |
Required Pool Balance, end of period | $ | 460,523,036.30 | |
COLLECTIONS & SERIES ALLOCATIONS | For the Period ended: December, 2004 | ||
Series Allocable Principal Collections | |||
Series 2003-VFN-A | $ | 525,478,616.66 | |
Series 2003-VFN-B | $ | 208,323,700.06 | |
Series 2004-1 | $ | 3,001,086,860.34 | |
| $ | 3,734,889,177.06 | ||
Series Allocable Non-Principal Collections | |||
Series 2003-VFN-A | $ | 2,726,329.54 | |
Series 2003-VFN-B | $ | 1,085,150.44 | |
Series 2004-1 | $ | 13,895,226.80 | |
| $ | 17,706,706.78 | ||
Series Allocable Miscellaneous Payments | |||
Series 2003-VFN-A | $ | — | |
Series 2003-VFN-B | $ | — | |
Series 2004-1 | $ | — | |
| $ | — | ||
Investment Proceeds | |||
Series 2003-VFN-A | $ | 11,944.17 | |
Series 2003-VFN-B | $ | 4,699.69 | |
Series 2004-1 | $ | 80,269.25 | |
| $ | 96,913.11 | ||
CONTROLLED DEPOSIT AMOUNT FOR COLLECTION PERIOD | For the Period ended: December, 2004 | ||
Series 2003-VFN-A | $ | 0.00 | |
Series 2003-VFN-B | $ | 0.00 | |
Series 2004-1 | $ | 0.00 | |
Page 1 of 8
ALLOCATION PERCENTAGES FOR COLLECTION PERIOD | Calculated as of: December, 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 | 87.33 | % | ||
Series 2003-VFN-B | 87.33 | % | ||
Series 2004-1 | 84.00 | % | ||
Principal Allocation Percentages | ||||
Series 2003-VFN-A | 0.00 | % | ||
Series 2003-VFN-B | 0.00 | % | ||
Series 2004-1 | 0.00 | % | ||
ALLOCATIONS OF SERIES ALLOCABLE AMOUNTS WITHIN SERIES | For the Period ended: December, 2004 | |||
Series 2003-VFN-A | ||||
Series Allocable Principal Collections | ||||
Excess Certificateholder Collections: | $ | 31,616,343.91 | ||
Noteholder Collections: | $ | 436,554,334.74 | ||
Additional Noteholder Collections: | $ | 57,307,938.01 | ||
| $ | 525,478,616.66 | |||
Series Allocable Non-Principal Collections | ||||
Excess Certificateholder Collections: | $ | 187,163.61 | ||
Noteholder Collections: | $ | 2,255,988.79 | ||
Additional Noteholder Collections: | $ | 283,177.14 | ||
| $ | 2,726,329.54 | |||
Series 2003-VFN-B | ||||
Series Allocable Principal Collections | ||||
Excess Certificateholder Collections: | $ | 12,808,495.10 | ||
Noteholder Collections: | $ | 172,727,291.37 | ||
Additional Noteholder Collections: | $ | 22,787,913.59 | ||
| $ | 208,323,700.06 | |||
Series Allocable Non-Principal Collections | ||||
Excess Certificateholder Collections: | $ | 76,110.98 | ||
Noteholder Collections: | $ | 896,235.14 | ||
Additional Noteholder Collections: | $ | 112,804.31 | ||
| $ | 1,085,150.43 | |||
Series 2004-1 | ||||
Series Allocable Principal Collections | ||||
Excess Certificateholder Collections: | $ | 85,637,944.42 | ||
Noteholder Collections: | $ | 2,509,716,829.35 | ||
Additional Noteholder Collections: | $ | 405,732,086.57 | ||
| $ | 3,001,086,860.34 | |||
Series Allocable Non-Principal Collections | ||||
Excess Certificateholder Collections: | $ | 403,256.75 | ||
Noteholder Collections: | $ | 11,602,572.05 | ||
Additional Noteholder Collections: | $ | 1,889,398.00 | ||
| $ | 13,895,226.80 | |||
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MONTHLY DISTRIBUTIONS | For the Period ended: December, 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 | $ | 991,276.24 | |
Series 2003-VFN-B | $ | 386,127.09 | |
Series 2004-1 | $ | 5,541,917.11 | |
Monthly Interest to Investors - $ per thousand | |||
Series 2003-VFN-A | $ | 23.14263592 | |
Series 2003-VFN-B | $ | 23.16762568 | |
Series 2004-1 Class A | $ | 15.83404889 | |
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 | $ | 634,875.98 | |
Series 2003-VFN-B | $ | 252,803.51 | |
Series 2004-1 | $ | 3,183,945.20 | |
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.) | For the Period ended: December, 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 | $ | 3,735,006,888.49 | |
Excess Distributed to Cert. on Payment Date | $ | 6,694,963.39 | |
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FUNDED AND INVESTED AMOUNTS: | As of the last day of: December, 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 | $ | 0.00 | |
Principal Funding Account Balance | $ | 0.00 | |
Invested Amount | $ | 34,000,000.00 | |
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 | $ | 0.00 | |
Principal Funding Account Balance | $ | 0.00 | |
Invested Amount | $ | 13,000,000.00 | |
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 | $ | 0.00 | |
Invested Amount | $ | 350,000,000.00 | |
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BALANCES AS OF PAYMENT DATE | As of last day of: December, 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. | As of last day of: December, 2004 | ||
Pool Total Components of Excess Receivables: | |||
Used Vehicles | $ | 30,150,072.14 | |
Finance Hold Receivables (for Credit Reasons Only) | $ | 0.00 | |
Delayed Payment Program | $ | 71,273.00 | |
Pool Limits on Components of Excess Receivables: | |||
Used Vehicles | $ | 130,367,594.51 | |
Finance Hold Receivables | $ | 0.00 | |
Delayed Payment Program | $ | 10,429,407.56 | |
Total Excess Receivables | $ | 0.00 | |
Overconcentration Amount | $ | 6,339,305.05 | |
Ineligible Amount | $ | 0.00 | |
Trust Incremental Subordinated Amount | $ | 6,339,305.05 | |
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POOL SERIES SUBORDINATED AMOUNTS | As of last day of: December, 2004 | ||
Series Incremental Subordinated Amount | |||
Series 2003-VFN-A | $ | 1,096,271.63 | |
Series 2003-VFN-B | $ | 419,162.68 | |
Series 2004-1 | $ | 11,731,454.52 | |
Required Subordinated Amount | |||
Series 2003-VFN-A | $ | 4,052,793.37 | |
Series 2003-VFN-B | $ | 1,549,597.47 | |
Series 2004-1 | $ | 57,211,680.51 | |
Available Subordinated Amount | |||
Series 2003-VFN-A | $ | 4,052,793.37 | |
Series 2003-VFN-B | $ | 1,549,597.47 | |
Series 2004-1 | $ | 57,211,680.51 | |
CHARGE OFFS | For the Period ended: December, 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 | |
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INTEREST AND PRINCIPAL SHORTFALLS (CUMULATIVE) | For the Period ended: December, 2004 | |||
Interest Shortfalls, end of period | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Change in Interest Shortfalls, beginning of period | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Principal Shortfalls, end of period | ||||
Series 2003-VFN-A | $ | 0.00 | ||
Series 2003-VFN-B | $ | 0.00 | ||
Series 2004-1 | $ | 0.00 | ||
Change in Principal Shortfalls, beginning of period | ||||
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 last day of: December, 2004 | |||
Series 2003-VFN-A Estimated | 2.7700000 | % | ||
Series 2003-VFN-B Estimated | 2.7600000 | % | ||
Series 2004-1 | 2.5500000 | % | ||
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