Exhibit 99.1
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-1 Owner Trust |
||||||||
Collection Period: November 1, 2023 through November 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
34 |
Determination Date: 12/18/2023 |
Actual/360 Days |
|
30 |
Record Date: 12/20/2023 |
30/360 Days |
|
30 |
Payment Date: 12/21/2023 |
ORIGINAL DEAL PARAMETERS
|
|
|
|
Dollar Amount |
|
|
|
|
Number of Receivables |
|
|
|
||
Total Portfolio Balance |
|
|
|
$ |
1,619,466,674.78 |
|
|
|
|
|
92,282 |
|
|
|
|
|
Accrual Basis |
|
Dollar Amount |
|
|
% of Pool |
|
|
Interest Rate |
|
|
Final Scheduled |
|||
Class A-1 Notes |
|
Actual/360 |
|
$ |
329,000,000.00 |
|
|
|
20.32 |
% |
|
|
0.122 |
% |
|
February 22, 2022 |
Class A-2 Notes |
|
30/360 |
|
$ |
549,000,000.00 |
|
|
|
33.90 |
% |
|
|
0.160 |
% |
|
July 21, 2023 |
Class A-3 Notes |
|
30/360 |
|
$ |
549,000,000.00 |
|
|
|
33.90 |
% |
|
|
0.270 |
% |
|
April 21, 2025 |
Class A-4 Notes |
|
30/360 |
|
$ |
151,950,000.00 |
|
|
|
9.38 |
% |
|
|
0.420 |
% |
|
January 21, 2028 |
Certificates |
|
30/360 |
|
$ |
40,516,674.78 |
|
|
|
2.50 |
% |
|
|
0.000 |
% |
|
|
Total Securities Balance |
|
|
|
$ |
1,619,466,674.78 |
|
|
|
|
|
|
|
|
|
||
Total Note Balance |
|
|
|
$ |
1,578,950,000.00 |
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Reserve Account Initial Deposit |
|
|
|
$ |
4,048,666.69 |
|
|
|
|
|
|
|
|
|
||
Yield Supplement Account Deposit |
|
|
|
$ |
39,342,699.93 |
|
|
|
|
|
|
|
|
|
||
COLLECTIONS
Interest Collections |
|
|
|
|
|
|
|
|
|
|
|
|
Simple Interest Collections |
|
$ |
614,341.56 |
|
|
|
|
|
|
|
||
Interest Related to Repurchased Receivables |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Interest Advance for simple Interest - Net * |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Total Interest Collections |
|
$ |
614,341.56 |
|
|
|
|
|
|
|
||
* Advances are reimbursed (including non-recoverable advances of $0.00): |
||||
(i) from subsequent payments, liquidation proceeds and servicer repurchase payments in respect of the related obligor, and |
||||
(ii) to the extent amounts in clause (i) are insufficient, generally from interest (with respect to interest advances). |
||||
|
|
|
|
|
Principal Collections |
|
|
|
|
|
|
|
|
|
|
|
|
Principal Collections |
|
$ |
15,857,581.57 |
|
|
|
|
|
|
|
||
Prepayments in Full |
|
$ |
3,523,640.34 |
|
|
|
|
|
|
|
||
Liquidation Proceeds |
|
$ |
22,241.34 |
|
|
|
|
|
|
|
||
Principal Related to Repurchased Receivables |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Recoveries from Prior Month Charge Offs |
|
$ |
56,875.42 |
|
|
|
|
|
|
|
||
Total Principal Collections |
|
$ |
19,460,338.67 |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest and Principal Collections |
|
$ |
20,074,680.23 |
|
|
|
|
|
|
|
||
Yield Supplement Deposit |
|
$ |
375,957.98 |
|
|
|
|
|
|
|
||
Collection Account Investment Earnings |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Available Amount |
|
|
|
$ |
20,450,638.21 |
|
|
|
|
|
|
|
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-1 Owner Trust |
||||||||
Collection Period: November 1, 2023 through November 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
34 |
Determination Date: 12/18/2023 |
Actual/360 Days |
|
30 |
Record Date: 12/20/2023 |
30/360 Days |
|
30 |
Payment Date: 12/21/2023 |
DISTRIBUTIONS
Note Percentage |
|
|
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|||
Certificate Percentage |
|
|
0.00 |
% |
|
|
|
Amount Due |
|
|
Amount Paid |
|
|
Shortfall |
|
|||
Total Servicing Fee |
|
|
1.00 |
% |
|
|
|
$ |
252,699.05 |
|
|
$ |
252,699.05 |
|
|
$ |
0.00 |
|
Trustee Fees |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Asset Representations Reviewer Fees (Accrued & Unpaid) |
|
|
|
|
$ |
0.00 |
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest - Class A-1 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Interest - Class A-2 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Interest - Class A-3 Notes |
|
|
|
|
|
|
$ |
24,923.74 |
|
|
$ |
24,923.74 |
|
|
$ |
0.00 |
|
|
Interest - Class A-4 Notes |
|
|
|
|
|
|
$ |
53,182.50 |
|
|
$ |
53,182.50 |
|
|
$ |
0.00 |
|
|
Total Monthly Interest |
|
|
|
|
|
|
$ |
78,106.24 |
|
|
$ |
78,106.24 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Principal - Class A-1 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Class A-2 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Class A-3 Notes |
|
|
|
|
|
|
$ |
19,467,820.60 |
|
|
$ |
19,467,820.60 |
|
|
$ |
0.00 |
|
|
Principal - Class A-4 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Total Monthly Principal |
|
|
|
|
|
|
$ |
19,467,820.60 |
|
|
$ |
19,467,820.60 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest - Certificates |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Certificates |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
|
|
Available to Deposit |
|
|
Reserve Deposit |
|
|
Reserve Draw |
|
|
Excess Released |
|
|
Released to Seller |
|
|||||
Reserve Account Deposit |
|
$ |
652,012.32 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
652,012.32 |
|
Noteholder/Certificateholder Distributions |
|
Fee |
|
|
Interest |
|
|
Interest |
|
|
Principal |
|
|
Principal |
|
|
Amount |
|
||||||
Servicing Fee |
|
$ |
0.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
252,699.05 |
|
||||
Trustee Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.00 |
|
|||||
Asset Representation Reviewer Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.00 |
|
|||||||
Class A-1 Notes |
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Class A-2 Notes |
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Class A-3 Notes |
|
|
|
|
$ |
0.05 |
|
|
$ |
0.00 |
|
|
$ |
35.46 |
|
|
$ |
0.00 |
|
|
$ |
19,492,744.34 |
|
|
Class A-4 Notes |
|
|
|
|
$ |
0.35 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
53,182.50 |
|
|
Certificates |
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
2
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-1 Owner Trust |
||||||||
Collection Period: November 1, 2023 through November 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
34 |
Determination Date: 12/18/2023 |
Actual/360 Days |
|
30 |
Record Date: 12/20/2023 |
30/360 Days |
|
30 |
Payment Date: 12/21/2023 |
POOL DATA
|
|
Proceeding Month |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
Carryover Shortfall |
|
|
Beginning of Period |
|
|
End of Period |
|
|||||||||||||||
|
|
Interest |
|
|
Principal |
|
|
Balance |
|
|
Note Factor |
|
|
Balance |
|
|
Note Factor |
|
||||||
Class A-1 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
Class A-2 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
Class A-3 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
110,772,184.55 |
|
|
|
0.2017708 |
|
|
$ |
91,304,363.95 |
|
|
|
0.1663103 |
|
Class A-4 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
151,950,000.00 |
|
|
|
1.0000000 |
|
|
$ |
151,950,000.00 |
|
|
|
1.0000000 |
|
Certificates |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
40,516,674.78 |
|
|
|
1.0000000 |
|
|
$ |
40,516,674.78 |
|
|
|
1.0000000 |
|
Total Securities |
|
|
|
|
|
|
|
$ |
303,238,859.33 |
|
|
|
0.1872461 |
|
|
$ |
283,771,038.73 |
|
|
|
0.1752250 |
|
||
Total Notes |
|
|
|
|
|
|
|
$ |
262,722,184.55 |
|
|
|
0.1663904 |
|
|
$ |
243,254,363.95 |
|
|
|
0.1540608 |
|
||
Portfolio Information |
|
Original |
|
|
Prior Month |
|
|
Current Month |
|
|||
Weighted Average Coupon (WAC) |
|
|
2.60 |
% |
|
|
2.43 |
% |
|
|
2.42 |
% |
Weighted Average Remaining Maturity (WAM) |
|
|
48.65 |
|
|
|
22.89 |
|
|
|
22.11 |
|
Weighted Average Original Maturity (WAOM) |
|
|
61.48 |
|
|
|
|
|
|
|
||
Remaining Number of Receivables |
|
|
92,282 |
|
|
|
36,115 |
|
|
|
34,999 |
|
Portfolio Receivable Balance |
|
$ |
1,619,466,674.78 |
|
|
$ |
303,238,859.33 |
|
|
$ |
283,771,038.73 |
|
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Account Activity |
|
|
|
|
|
Amount |
|
|
Gross Principal Balance on Defaulted Receivables |
|
|
|
|
|
$ |
86,598.69 |
|
Liquidation Proceeds |
|
|
|
|
|
$ |
22,241.34 |
|
Recoveries on Previously Defaulted Contracts |
|
|
|
|
|
$ |
56,875.42 |
|
Aggregate Net Losses for Collection Period |
|
|
|
|
|
$ |
7,481.93 |
|
Net Loss Rate for Collection Period's Average Balance (annualized) |
|
|
|
|
0.03 |
% |
||
Cumulative Net Losses for all Periods |
|
|
|
|
|
$ |
1,455,239.58 |
|
Delinquent Receivables |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
||||
31-60 Days Delinquent |
|
|
186 |
|
|
|
0.53 |
% |
|
$ |
1,885,433.82 |
|
|
|
0.66 |
% |
61-90 Days Delinquent |
|
|
55 |
|
|
|
0.16 |
% |
|
$ |
529,961.18 |
|
|
|
0.19 |
% |
91-120 Days Delinquent |
|
|
10 |
|
|
|
0.03 |
% |
|
$ |
61,217.32 |
|
|
|
0.02 |
% |
121 Days or More Delinquent |
|
|
0 |
|
|
|
0.00 |
% |
|
$ |
0.00 |
|
|
|
0.00 |
% |
Repossession Activity |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
||||
Vehicles Repossessed During Collection Period |
|
|
5 |
|
|
|
0.01 |
% |
|
$ |
50,261.85 |
|
|
|
0.02 |
% |
Total Accumulated Repossessed Vehicles in Inventory |
|
|
9 |
|
|
|
0.03 |
% |
|
$ |
99,060.74 |
|
|
|
0.03 |
% |
3
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-1 Owner Trust |
||||||||
Collection Period: November 1, 2023 through November 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
34 |
Determination Date: 12/18/2023 |
Actual/360 Days |
|
30 |
Record Date: 12/20/2023 |
30/360 Days |
|
30 |
Payment Date: 12/21/2023 |
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Ratios |
|
|
|
|
|
|
|
|
Ratio of Net Losses to the Pool Balance as of Each Collection Period |
|
|||||||
Third Preceding Collection Period |
|
|
|
|
|
|
-0.03 |
% |
Second Preceding Collection Period |
|
|
|
|
|
|
0.00 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.23 |
% |
Current Collection Period |
|
|
|
|
|
|
0.03 |
% |
Four Month Average |
|
|
|
|
|
|
0.06 |
% |
Ratio of Number of Contracts Delinquent 61 Days or More to the Outstanding Number of Receivables (includes repossessions in inventory) |
|
|
|
|||||
Second Preceding Collection Period |
|
|
|
|
|
|
0.21 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.21 |
% |
Current Collection Period |
|
|
|
|
|
|
0.21 |
% |
Three Month Average |
|
|
|
|
|
|
0.21 |
% |
Delinquency Trigger |
|
4.80% |
|
Delinquency Percentage exceeds Delinquency Trigger: |
|
No |
||
Delinquency Percentage - |
|
0.21% |
|
|
|
|
|
|
Receivables that are 61 days or more delinquent as a percentage of Current Outstanding Balance of Receivables |
||||||||
LOSS AND CUMULATIVE LOSS INFORMATION
|
|
Current Month |
|
|
Cumulative |
|
||||||||||
For Assets Experiencing a Loss: |
|
Units |
|
|
Amount |
|
|
Units |
|
|
Amount |
|
||||
Gross Principal |
|
9 |
|
|
$ |
86,598.69 |
|
|
|
211 |
|
|
$ |
3,750,990.72 |
|
|
Liquidation Proceeds and Recoveries |
|
31 |
|
|
$ |
78,403.51 |
|
|
|
169 |
|
|
$ |
2,282,162.93 |
|
|
Net Loss Amount |
|
9 |
|
|
$ |
8,195.18 |
|
|
|
211 |
|
|
$ |
1,468,827.79 |
|
|
Net Loss % of Average |
|
|
|
|
0.03 |
% |
|
|
|
|
|
|
||||
Cumulative Net Loss % |
|
|
|
|
|
|
|
|
|
|
0.09 |
% |
||||
Average Net Loss of |
|
|
|
|
|
|
|
|
|
$ |
6,961.27 |
|
||||
CREDIT ENHANCEMENT
Reconciliation of Reserve Account |
|
|
|
|
Reconciliation of Yield Supplement Account |
|
||||
Beginning Reserve Account Balance |
|
$ |
4,048,666.69 |
|
|
Beginning Yield Supplement |
|
$ |
3,734,810.17 |
|
Investment Earnings |
|
$ |
17,419.54 |
|
|
Investment Earnings |
|
$ |
17,137.35 |
|
Excess Interest Deposited into the Reserve Account |
|
$ |
0.00 |
|
|
Additional Yield Supplement Amounts |
|
$ |
0.00 |
|
Investment Withdrawal to Seller |
|
$ |
(17,419.54 |
) |
|
Yield Supplement Withdrawal Amount |
|
$ |
375,957.98 |
|
Release of Reserve to Collection Account |
|
$ |
0.00 |
|
|
Investment Earnings Withdraw |
|
$ |
0.00 |
|
Release of Reserve to Seller |
|
$ |
0.00 |
|
|
Release of Yield Supplement Account Balance to Seller |
|
$ |
0.00 |
|
Ending Reserve Account Balance |
|
$ |
4,048,666.69 |
|
|
Ending Yield Supplement Account Balance |
|
$ |
3,375,989.54 |
|
|
|
|
|
|
|
|
|
|
||
Reserve Account Required Amount |
|
$ |
4,048,666.69 |
|
|
|
|
|
|
|
4
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-1 Owner Trust |
||||||||
Collection Period: November 1, 2023 through November 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
34 |
Determination Date: 12/18/2023 |
Actual/360 Days |
|
30 |
Record Date: 12/20/2023 |
30/360 Days |
|
30 |
Payment Date: 12/21/2023 |
REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
Is there any activity to report? |
|
|
|
|
|
|
|
No |
|
|
|
|
|
|
|
|
|
STATEMENT TO NOTEHOLDERS
Has there been a material change in practices with respect to charge-offs, collection and management of delinquent receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience? |
|
No |
||||||
|
|
|
|
|
|
|
|
|
Have there been any material modifications, extensions or waivers to receivables terms, fees, penalties or payments during the collection period? |
|
No |
||||||
|
|
|
|
|
|
|
|
|
Have there been any material breaches of representations, warranties or covenants contained in the receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
Has there been an issuance of notes or other securities backed by the receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
Has there been a material change in the underwriting, origination or acquisition of receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
SERVICER CERTIFICATION
I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. |
||
|
|
|
/s/ Paul C. Honda |
|
|
Paul C. Honda |
|
|
Vice President-Finance & Administration and Assistant Secretary |
|
|
5