WORLD OMNI FINANCIAL CORP.
WORLD OMNI MASTER OWNER TRUST
2003-VFN-A, 2003-VFN-B, 2000-1 and 2001-1 SUPPLEMENTS
CERTIFICATE DATE AS OF : May 15, 2003
Pool Balance, beginning of month $639,052,321.94
Pool Balance, end of month $616,856,537.02
Pool Balance, average $627,376,113.29
Required Pool Balance, end of month $616,856,537.02
COLLECTIONS & SERIES ALLOCATIONS Month of:
April , 2003
Series Allocable Principal Collections
Series 2003-VFN-A $120,468,331.67
Series 2003-VFN-B $ 48,864,785.83
Series 2001-1 $174,792,440.18
$344,125,557.68
Series Allocable Non-Principal Collections
Series 2003-VFN-A $ 709,643.55
Series 2003-VFN-B $ 285,368.91
Series 2001-1 $ 950,124.24
$ 1,945,136.70
Series Allocable Miscellaneous Payments
Series 2003-VFN-A $ -
Series 2003-VFN-B $ -
Series 2001-1 $ -
$ -
Investment Proceeds
Series 2003-VFN-A $ 11,818.08
Series 2003-VFN-B $ 4,819.64
Series 2000-1 $ (74,546.82)
Series 2001-1 $ 17,589.15
$ (40,319.95)
CONTROLLED DEPOSIT AMOUNT FOR COLLECTION PERIOD Month of:
April , 2003
2003-VFN-A $ 0.00
2003-VFN-B $ 0.00
Series 2001-1 Class A $ 0.00
Series 2001-1 Class B $ 0.00
ALLOCATION PERCENTAGES FOR COLLECTION PERIOD First day of:
April , 2003
Series Allocation Percentages
Series 2003-VFN-A 41.38%
Series 2003-VFN-B 17.24%
Series 2001-1 41.38%
Floating Allocation Percentages
Series 2003-VFN-A 92.00%
Series 2003-VFN-B 92.00%
Series 2001-1 92.00%
Principal Allocation Percentages
Series 2003-VFN-A 0.00%
Series 2003-VFN-B 0.00%
Series 2001-1 0.00%
ALLOCATIONS OF SERIES ALLOCABLE AMOUNTS WITHIN SERIES Month of:
April , 2003
Series 2003-VFN-A
Series Allocable Principal Collections
Excess Certificateholder Collections: $ 0.00
Noteholder Collections: $107,724,875.75
Additional Noteholder Collections: $ 12,743,455.92
$120,468,331.67
Series Allocable Non-Principal Collections
Excess Certificateholder Collections: $ 0.00
Noteholder Collections: $ 651,999.03
Additional Noteholder Collections: $ 57,644.52
$ 709,643.55
Series 2003-VFN-B
Series Allocable Principal Collections
Excess Certificateholder Collections: $ 0.00
Noteholder Collections: $ 43,727,653.67
Additional Noteholder Collections: $ 5,137,132.16
$ 48,864,785.83
Series Allocable Non-Principal Collections
Excess Certificateholder Collections: $ 0.00
Noteholder Collections: $ 262,194.24
Additional Noteholder Collections: $ 23,174.67
$ 285,368.91
Series 2001-1
Series Allocable Principal Collections
Excess Certificateholder Collections: $ 0.00
Noteholder Collections: $156,475,106.29
Additional Noteholder Collections: $ 18,317,333.89
$174,792,440.18
Series Allocable Non-Principal Collections
Excess Certificateholder Collections: $ 0.00
Noteholder Collections: $ 872,896.11
Additional Noteholder Collections: $ 77,228.13
$ 950,124.24
Paid on:
MONTHLY DISTRIBUTIONS May 15, 2003
Principal Distributions to Investors
Series 2003-VFN-A $115,000,000.00
Series 2003-VFN-B $ 50,000,000.00
Series 2001-1 Class A $ -
Series 2001-1 Class B $ -
Principal Distributions to Investors - $ per thousand
Series 2003-VFN-A $ 1,000.00000000
Series 2003-VFN-B $ 1,000.00000000
Series 2001-1 Class A $ 0.00000000
Series 2001-1 Class B $ 0.00000000
Monthly Interest to Investors
Series 2003-VFN-A $ 245,367.98
Series 2003-VFN-B $ 106,152.21
Series 2001-1 Class A $ 332,400.00
Series 2001-1 Class B $ 34,116.67
Monthly Interest to Investors - $ per thousand
Series 2003-VFN-A $ 1.32631341
Series 2003-VFN-B $ 1.41536283
Series 2001-1 Class A $ 1.20000000
Series 2001-1 Class B $ 1.48333333
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 $ 202,733.84
Series 2003-VFN-B $ 84,472.43
Series 2001-1 $ 202,733.84
Reserve Fund Deposit Amount
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
MONTHLY DISTRIBUTIONS (Cont.) Paid on:
May 15, 2003
Investor Default Amount
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
Monthly Dilution Amount
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
Noteholder Charge-Off Reversal Amount
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 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 2001-1 $ 0.00
Carry-Over Amount
Series 2001-1 Class A $ 0.00
Series 2001-1 Class B $ 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 2001-1 $ 0.00
Deposits to Princpal Funding Account
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
Collections Released to Cert. during Collection Period $344,135,122.35
Excess Distributed to Cert. on Payment Date $ 687,275.11
FUNDED AND INVESTED AMOUNTS: Last day of:
April , 2003
SERIES 2003-VFN-A SUPPLEMENT
Initial Funded Amount $200,000,000.00
Incremental Funded Amounts (Cumulative) $100,000,000.00
Principal Distributed to Investors (Cumulative) $115,000,000.00
Unreimbursed Investor Charge Offs (Cumulative) $ 0.00
Funded Amount $185,000,000.00
Series Excess Funding Amount $ 7,852,127.08
Principal Funding Account Balance $ 0.00
Invested Amount $177,147,872.92
SERIES 2003-VFN-B SUPPLEMENT
Initial Funded Amount $100,000,000.00
Incremental Funded Amounts (Cumulative) $ 25,000,000.00
Principal Distributed to Investors (Cumulative) $ 50,000,000.00
Unreimbursed Investor Charge Offs (Cumulative) $ 0.00
Funded Amount $ 75,000,000.00
Series Excess Funding Amount $ 3,183,294.76
Principal Funding Account Balance $ 0.00
Invested Amount $ 71,816,705.24
SERIES 2001-1 SUPPLEMENT CLASS A
Initial Invested Amount $277,000,000.00
Principal Distributed to Investors (Cumulative) $ 0.00
Principal Funding Account Balance $ 0.00
Unreimbursed Investor Charge Offs (Cumulative) $ 0.00
Series Excess Funding Amount $ 12,733,179.05
Invested Amount $264,266,820.95
SERIES 2001-1 SUPPLEMENT CLASS B
Initial Invested Amount $ 23,000,000.00
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 $ 23,000,000.00
BALANCES AS OF PAYMENT DATE As of:
May 15, 2003
Series 2003-VFN-A
Reserve Fund Balance $ 1,500,000.00
Reserve Fund Deficiency Amount $ 0.00
Principal Funding Account Balance $ 0.00
Outstanding Principal Balance $185,000,000.00
Series 2003-VFN-B
Reserve Fund Balance $ 625,000.00
Reserve Fund Deficiency Amount $ 0.00
Principal Funding Account Balance $ 0.00
Outstanding Principal Balance $ 75,000,000.00
Series 2001-1
Reserve Fund Balance $ 1,500,000.00
Reserve Fund Deficiency Amount $ 0.00
Principal Funding Account Balance $ 0.00
Outstanding Principal Balance, Class A $277,000,000.00
Outstanding Principal Balance, Class B $ 23,000,000.00
TRUST INCREMENTAL SUBORDINATED AMOUNT Last day of:
To be used in the following month's computations. April , 2003
Pool Total Components of Excess Receivables:
Used Vehicles $ 40,467,497.44
Finance Hold Receivables (for Credit Reasons Only) $ 5,071,289.75
Delayed Payment Program $ 0.00
Pool Limits on Components of Excess Receivables:
Used Vehicles $154,214,134.26
Finance Hold Receivables $ 0.00
Delayed Payment Program $ 12,337,130.74
Total Excess Receivables $ 5,071,289.75
Overconcentration Amount $ 22,800,914.23
Ineligible Amount $ 0.00
Trust Incremental Subordinated Amount $ 27,872,203.98
POOL SERIES SUBORDINATED AMOUNTS As of:
April 30, 2003
Series Incremental Subordinated Amount
Series 2003-VFN-A $ 10,930,294.06
Series 2003-VFN-B $ 4,431,200.29
Series 2001-1 $ 17,724,801.17
Required Subordinated Amount
Series 2003-VFN-A $ 26,334,456.92
Series 2003-VFN-B $ 10,676,131.18
Series 2001-1 $ 42,704,524.74
Available Subordinated Amount
Series 2003-VFN-A $ 26,334,456.92
Series 2003-VFN-B $ 10,676,131.18
Series 2001-1 $ 42,704,524.74
CHARGE OFFS For Month of:
April , 2003
Defaulted Receivables $ 0.00
Investor/Noteholder Defaulted Amount
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
Deficiency Amount
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
Required Draw Amount
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
Investor/Noteholder Charge-Off's
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 $ 0.00
INTEREST AND PRINCIPAL SHORTFALLS (CUMULATIVE) As of:
May 15, 2003
Interest Shortfalls as of Current Payment Date
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 Class A $ 0.00
Series 2001-1 Class B $ 0.00
Change in Interest Shortfalls from Previous Payment Date
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 Class A $ 0.00
Series 2001-1 Class B $ 0.00
Principal Shortfalls as of Current Payment Date
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 Class A $ 0.00
Series 2001-1 Class B $ 0.00
Change in Principal Shortfalls from Previous Payment Date
Series 2003-VFN-A $ 0.00
Series 2003-VFN-B $ 0.00
Series 2001-1 Class A $ 0.00
Series 2001-1 Class B $ 0.00
INTEREST RATE FOR NEXT PAYMENT DATE As of:
May 15, 2003
Series 2003-VFN-A Estimated 1.6000000%
Series 2003-VFN-B Estimated 1.5900000%
Series 2001-1 Class A 1.4400000%
Series 2001-1 Class B 1.7800000%
MONTHLY PAYMENT RATE % Month of:
April , 2003
MONTHLY PAYMENT RATE % 54.85%