WORLD OMNI FINANCIAL CORP.
WORLD OMNI MASTER OWNER TRUST
SERIES 2003-VFN-A, 2003-VFN-B and 2001-1 SUPPLEMENTS
CERTIFICATE DATE AS OF : September 15, 2003
WOMOT Series 2001-1 automatic extension of the Amortization Period Commencement Date was terminated on August 29, 2003.
The Amortization Period shall begin on the close of business on September 30, 2003.
Month of:
POOL BALANCE: August , 2003
Pool Balance, beginning of month $496,170,819.83
Pool Balance, end of month $465,808,657.50
Pool Balance, average $473,228,702.94
Required Pool Balance, end of month $465,808,657.50
COLLECTIONS & SERIES ALLOCATIONS Month of:
August , 2003
Series Allocable Principal Collections
Series 2003-VFN-A $ 66,076,354.55
Series 2003-VFN-B $ 26,740,228.90
Series 2001-1 $232,265,309.28
$325,081,892.73
Series Allocable Non-Principal Collections
Series 2003-VFN-A $ 341,018.46
Series 2003-VFN-B $ 137,813.05
Series 2001-1 $ 1,054,247.98
$ 1,533,079.49
Series Allocable Miscellaneous Payments
Series 2003-VFN-A $ -
Series 2003-VFN-B $ -
Series 2001-1 $ -
$ -
Investment Proceeds
Series 2003-VFN-A $ 3,617.26
Series 2003-VFN-B $ 1,465.52
Series 2001-1 $ 13,937.28
$ 19,020.06
CONTROLLED DEPOSIT AMOUNT FOR COLLECTION PERIOD Month of:
August , 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:
August , 2003
Series Allocation Percentages
Series 2003-VFN-A 22.55%
Series 2003-VFN-B 9.11%
Series 2001-1 68.34%
Floating Allocation Percentages
Series 2003-VFN-A 84.27%
Series 2003-VFN-B 84.27%
Series 2001-1 84.27%
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:
August , 2003
Series 2003-VFN-A
Series Allocable Principal Collections
Excess Certificateholder Collections: $ 218,604.35
Noteholder Collections: $ 54,970,534.70
Additional Noteholder Collections: $ 10,887,215.50
$ 66,076,354.55
Series Allocable Non-Principal Collections
Excess Certificateholder Collections: $ 1,100.64
Noteholder Collections: $ 286,920.63
Additional Noteholder Collections: $ 52,997.19
$ 341,018.46
Series 2003-VFN-B
Series Allocable Principal Collections
Excess Certificateholder Collections: $ 88,469.83
Noteholder Collections: $ 22,249,478.75
Additional Noteholder Collections: $ 4,402,280.31
$ 26,740,228.90
Series Allocable Non-Principal Collections
Excess Certificateholder Collections: $ 444.80
Noteholder Collections: $ 115,953.03
Additional Noteholder Collections: $ 21,415.22
$ 137,813.05
Series 2001-1
Series Allocable Principal Collections
Excess Certificateholder Collections: $ 771,066.57
Noteholder Collections: $195,948,656.36
Additional Noteholder Collections: $ 35,545,586.35
$232,265,309.28
Series Allocable Non-Principal Collections
Excess Certificateholder Collections: $ 3,406.00
Noteholder Collections: $ 888,581.39
Additional Noteholder Collections: $ 162,260.59
$ 1,054,247.98
Paid on:
MONTHLY DISTRIBUTIONS September 15, 2003
Principal Distributions to Investors
Series 2003-VFN-A $ -
Series 2003-VFN-B $ -
Series 2001-1 Class A $ -
Series 2001-1 Class B $ -
Principal Distributions to Investors - $ per thousand
Series 2003-VFN-A $ 0.00000000
Series 2003-VFN-B $ 0.00000000
Series 2001-1 Class A $ 0.00000000
Series 2001-1 Class B $ 0.00000000
Monthly Interest to Investors
Series 2003-VFN-A $ 123,049.11
Series 2003-VFN-B $ 48,262.50
Series 2001-1 Class A $ 295,774.44
Series 2001-1 Class B $ 31,292.78
Monthly Interest to Investors - $ per thousand
Series 2003-VFN-A $ 1.66282577
Series 2003-VFN-B $ 1.60874994
Series 2001-1 Class A $ 1.06777778
Series 2001-1 Class B $ 1.36055556
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 $ 78,579.18
Series 2003-VFN-B $ 31,749.16
Series 2001-1 $ 238,118.71
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:
September 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 $324,895,060.24
Excess Distributed to Cert. on Payment Date $ 892,106.17
FUNDED AND INVESTED AMOUNTS: Last day of:
August , 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) $226,000,000.00
Unreimbursed Investor Charge Offs (Cumulative) $ 0.00
Funded Amount $ 74,000,000.00
Series Excess Funding Amount $ 2,802,785.89
Principal Funding Account Balance $ 0.00
Invested Amount $ 71,197,214.11
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) $ 95,000,000.00
Unreimbursed Investor Charge Offs (Cumulative) $ 0.00
Funded Amount $ 30,000,000.00
Series Excess Funding Amount $ 1,136,264.55
Principal Funding Account Balance $ 0.00
Invested Amount $ 28,863,735.45
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 $ 11,362,645.50
Invested Amount $265,637,354.50
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:
September 15, 2003
Series 2003-VFN-A
Reserve Fund Balance $ 370,000.00
Reserve Fund Deficiency Amount $ 0.00
Principal Funding Account Balance $ 0.00
Outstanding Principal Balance $ 74,000,000.00
Series 2003-VFN-B
Reserve Fund Balance $ 150,000.00
Reserve Fund Deficiency Amount $ 0.00
Principal Funding Account Balance $ 0.00
Outstanding Principal Balance $ 30,000,000.00
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. August , 2003
Pool Total Components of Excess Receivables:
Used Vehicles $ 31,909,170.20
Finance Hold Receivables (for Credit Reasons Only) $ 7,509,351.48
Delayed Payment Program $ 376,694.00
Pool Limits on Components of Excess Receivables:
Used Vehicles $116,452,164.38
Finance Hold Receivables $ 0.00
Delayed Payment Program $ 9,316,173.15
Total Excess Receivables $ 7,509,351.48
Overconcentration Amount $ 34,842,340.43
Ineligible Amount $ 0.00
Trust Incremental Subordinated Amount $ 42,351,691.91
POOL SERIES SUBORDINATED AMOUNTS As of:
August 31, 2003
Series Incremental Subordinated Amount
Series 2003-VFN-A $ 7,403,709.81
Series 2003-VFN-B $ 3,001,503.98
Series 2001-1 $ 30,015,039.78
Required Subordinated Amount
Series 2003-VFN-A $ 13,594,771.91
Series 2003-VFN-B $ 5,511,394.02
Series 2001-1 $ 55,113,940.17
Available Subordinated Amount
Series 2003-VFN-A $ 13,594,771.91
Series 2003-VFN-B $ 5,511,394.02
Series 2001-1 $ 55,113,940.17
CHARGE OFFS For Month of:
August , 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:
September 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:
September 15, 2003
Series 2003-VFN-A Estimated 1.4100000%
Series 2003-VFN-B Estimated 1.4000000%
Series 2001-1 Class A 1.2500000%
Series 2001-1 Class B 1.5900000%
MONTHLY PAYMENT RATE % Month of:
August , 2003
MONTHLY PAYMENT RATE % 68.69%