Ford Credit Auto Owner Trust 2019-B

03/21/2023 | Press release | Distributed by Public on 03/21/2023 09:31

Asset-Backed Issuer Distribution Report - Form 10-D


Ford Credit Auto Owner Trust 2019-B
Monthly Investor Report
Collection Period February 2023
Payment Date 3/15/2023
Transaction Month 45
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://www.sec.gov) under the registration number 333-225949 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
I. ORIGINAL DEAL PARAMETERS
Dollar Amount # of Receivables Weighted Avg Remaining Term at Cutoff
Initial Pool Balance $ 1,142,066,659.36 40,029 56.6 months
Dollar Amount Note Interest Rate Final Scheduled Payment Date
Original Securities
Class A-1 Notes $ 203,000,000.00 2.38663 % July 15, 2020
Class A-2a Notes $ 220,000,000.00 2.35 % February 15, 2022
Class A-2b Notes $ 126,020,000.00 4.82786 % * February 15, 2022
Class A-3 Notes $ 346,060,000.00 2.23 % October 15, 2023
Class A-4 Notes $ 105,020,000.00 2.24 % October 15, 2024
Class B Notes $ 31,580,000.00 2.40 % November 15, 2024
Class C Notes $ 21,060,000.00 2.58 % December 15, 2025
Total $ 1,052,740,000.00
* One-month LIBOR + 0.24%
II. AVAILABLE FUNDS
Interest:
Interest Collections $ 305,322.00
Principal:
Principal Collections $ 7,181,580.02
Prepayments in Full $ 2,418,524.22
Liquidation Proceeds $ 56,830.18
Recoveries $ 42,356.50
Sub Total $ 9,699,290.92
Collections $ 10,004,612.92
Purchase Amounts:
Purchase Amounts Related to Principal $ 177,244.54
Purchase Amounts Related to Interest $ 504.47
Sub Total $ 177,749.01
Clean-up Call $ 0.00
Reserve Account Draw Amount $ 0.00
Available Funds - Total $ 10,182,361.93
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Ford Credit Auto Owner Trust 2019-B
Monthly Investor Report
Collection Period February 2023
Payment Date 3/15/2023
Transaction Month 45
III. DISTRIBUTIONS
Calculated Amount Amount Paid Shortfall Carryover Shortfall Remaining Available Funds
Trustee and Other Fees/Expenses $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 10,182,361.93
Servicing Fee $ 105,068.83 $ 105,068.83 $ 0.00 $ 0.00 $ 10,077,293.10
Interest - Class A-1 Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 10,077,293.10
Interest - Class A-2a Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 10,077,293.10
Interest - Class A-2b Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 10,077,293.10
Interest - Class A-3 Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 10,077,293.10
Interest - Class A-4 Notes $ 82,968.56 $ 82,968.56 $ 0.00 $ 0.00 $ 9,994,324.54
First Priority Principal Payment $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 9,994,324.54
Interest - Class B Notes $ 63,160.00 $ 63,160.00 $ 0.00 $ 0.00 $ 9,931,164.54
Second Priority Principal Payment $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 9,931,164.54
Interest - Class C Notes $ 45,279.00 $ 45,279.00 $ 0.00 $ 0.00 $ 9,885,885.54
Reserve Account Deposit $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 9,885,885.54
Regular Principal Payment $ 9,167,635.00 $ 9,167,635.00 $ 0.00 $ 0.00 $ 718,250.54
Additional Trustee and Other Fees/Expenses $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 718,250.54
Residual Released to Depositor $ 0.00 $ 718,250.54 $ 0.00 $ 0.00 $ 0.00
Total $ 10,182,361.93
Principal Payment:
First Priority Principal Payment $ 0.00
Second Priority Principal Payment $ 0.00
Regular Principal Payment $ 9,167,635.00
Total $ 9,167,635.00
IV. NOTEHOLDER PAYMENTS
Noteholder Principal Payments Noteholder Interest Payments Total Payment
Per $1,000 of Per $1,000 of Per $1,000 of
Original Actual Original Balance Actual Original Balance Actual Original Balance
Class A-1 Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Class A-2a Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Class A-2b Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Class A-3 Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Class A-4 Notes $ 9,167,635.00 $ 87.29 $ 82,968.56 $ 0.79 $ 9,250,603.56 $ 88.08
Class B Notes $ 0.00 $ 0.00 $ 63,160.00 $ 2.00 $ 63,160.00 $ 2.00
Class C Notes $ 0.00 $ 0.00 $ 45,279.00 $ 2.15 $ 45,279.00 $ 2.15
Total $ 9,167,635.00 $ 8.71 $ 191,407.56 $ 0.18 $ 9,359,042.56 $ 8.89
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Ford Credit Auto Owner Trust 2019-B
Monthly Investor Report
Collection Period February 2023
Payment Date 3/15/2023
Transaction Month 45

V. NOTE BALANCE AND POOL INFORMATION
Beginning of Period End of Period
Balance Note Factor Balance Note Factor
Class A-1 Notes $ 0.00 0.0000000 $ 0.00 0.0000000
Class A-2a Notes $ 0.00 0.0000000 $ 0.00 0.0000000
Class A-2b Notes $ 0.00 0.0000000 $ 0.00 0.0000000
Class A-3 Notes $ 0.00 0.0000000 $ 0.00 0.0000000
Class A-4 Notes $ 44,447,441.52 0.4232284 $ 35,279,806.52 0.3359342
Class B Notes $ 31,580,000.00 1.0000000 $ 31,580,000.00 1.0000000
Class C Notes $ 21,060,000.00 1.0000000 $ 21,060,000.00 1.0000000
Total $ 97,087,441.52 0.0922236 $ 87,919,806.52 0.0835152
Pool Information
Weighted Average APR 2.959 % 2.967 %
Weighted Average Remaining Term 20.84 20.10
Number of Receivables Outstanding 12,879 12,379
Pool Balance $ 126,082,594.08 $ 116,169,954.48
Adjusted Pool Balance (Pool Balance - YSOC Amount) $ 118,142,869.85 $ 108,975,234.85
Pool Factor 0.1103986 0.1017191

VI. OVERCOLLATERALIZATION INFORMATION
Specified Reserve Balance $ 2,631,928.54
Yield Supplement Overcollateralization Amount $ 7,194,719.63
Targeted Overcollateralization Amount $ 28,250,147.96
Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) $ 28,250,147.96

VII. RECONCILIATION OF RESERVE ACCOUNT
Beginning Reserve Account Balance $ 2,631,928.54
Reserve Account Deposits Made $ 0.00
Reserve Account Draw Amount $ 0.00
Ending Reserve Account Balance $ 2,631,928.54
Change in Reserve Account Balance $ 0.00
Specified Reserve Balance $ 2,631,928.54

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Ford Credit Auto Owner Trust 2019-B
Monthly Investor Report
Collection Period February 2023
Payment Date 3/15/2023
Transaction Month 45
VIII. NET LOSS AND DELINQUENT RECEIVABLES
# of Receivables Amount
Current Collection Period Loss:
Realized Loss (Charge-Offs) 35 $ 78,460.64
(Recoveries) 70 $ 42,356.50
Net Loss for Current Collection Period $ 36,104.14
Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) 0.3436 %
Prior and Current Collection Periods Average Loss:
Ratio of Net Loss to the Average Pool Balance (annualized)
Third Prior Collection Period 0.4152 %
Second Prior Collection Period 0.2931 %
Prior Collection Period 0.6833 %
Current Collection Period 0.3577 %
Four Month Average (Current and Prior Three Collection Periods) 0.4373 %
Cumulative Loss:
Cumulative Realized Loss (Charge-Offs) 2,225 $ 8,789,502.28
(Cumulative Recoveries) $ 2,877,076.45
Cumulative Net Loss for All Collection Periods $ 5,912,425.83
Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance 0.5177 %
Average Realized Loss for Receivables that have experienced a Realized Loss $ 3,950.34
Average Net Loss for Receivables that have experienced a Realized Loss $ 2,657.27
Recoveries on a small number of charged-off receivables were incorrectly applied or duplicated during the period from May 2019 through September 2022 due to a systems issue. As a result, the amounts in the "Cumulative Recoveries", "Cumulative Net Loss for All Collection Periods","Ratio of Cumulative Net Loss for All Collection Periods to Initial Pool Balance" and "Average Net Loss for Receivables that have experienced a Realized Loss" reflect the incorrectly applied or duplicated amounts, generally resulting in recoveries being overstated and net losses being understated. However, the incorrectly applied or duplicated amounts are not material, and if the recoveries had been correctly applied the "Ratio of Cumulative Net Loss for All Collection Periods to Initial Pool Balance" would have changed by less than 0.02%.
% of EOP Pool Balance # of Receivables Amount
Delinquent Receivables:
31-60 Days Delinquent 1.38 % 111 $ 1,602,518.76
61-90 Days Delinquent 0.38 % 26 $ 441,781.63
91-120 Days Delinquent 0.02 % 2 $ 28,321.87
Over 120 Days Delinquent 0.26 % 16 $ 301,899.51
Total Delinquent Receivables 2.04 % 155 $ 2,374,521.77
Repossession Inventory:
Repossessed in the Current Collection Period 5 $ 84,932.69
Total Repossessed Inventory 8 $ 117,226.99
Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables:
Second Prior Collection Period 0.2978%
Prior Collection Period 0.3261%
Current Collection Period 0.3554%
Three Month Average 0.3264%
Delinquency Trigger (61+ Delinquent Receivables)
Transaction Month Trigger
1-12 0.70%
13-24 1.40%
25-36 2.40%
37+ 3.70%
61+ Delinquent Receivables Balance to EOP Pool Balance 0.6645 %
Delinquency Trigger Occurred No
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Ford Credit Auto Owner Trust 2019-B
Monthly Investor Report
Collection Period February 2023
Payment Date 3/15/2023
Transaction Month 45

Receivables Granted Extensions in the Current Collection Period: # of Receivables Amount
1 Month Extended 29 $402,984.88
2 Months Extended 37 $571,980.88
3+ Months Extended 8 $122,164.87
Total Receivables Extended 74 $1,097,130.63

IX. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
No Activity to report
Most Recent Form ABS-15G for repurchase demand activity
Filed by: Ford Motor Credit Company LLC
CIK#: 0000038009
Date: February 3, 2023
X. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
Benchmark Transition Event: N/A
Benchmark Replacement Date: N/A
Unadjusted Benchmark Replacement: N/A
Benchmark Replacement Adjustment: N/A
Benchmark Replacement Conforming Changes: N/A
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer
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