World Omni Auto Receivables Trust 2022-D

03/28/2024 | Press release | Distributed by Public on 03/28/2024 05:57

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2022-D
Monthly Servicer Certificate
February 29, 2024
Dates Covered
Collections Period 02/01/24 - 02/29/24
Interest Accrual Period 02/15/24 - 03/14/24
30/360 Days 30
Actual/360 Days 29
Distribution Date 03/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 01/31/24 591,045,402.65 31,241
Yield Supplement Overcollateralization Amount 01/31/24 63,872,870.06 0
Receivables Balance 01/31/24 654,918,272.71 31,241
Principal Payments 22,916,757.47 1,250
Defaulted Receivables 1,175,809.93 50
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 02/29/24 60,649,451.89 0
Pool Balance at 02/29/24 570,176,253.42 29,941
Pool Statistics $ Amount # of Accounts
Pool Factor 54.54 %
Prepayment ABS Speed 1.33 %
Aggregate Starting Principal Balance 1,156,658,989.82 50,043
Delinquent Receivables:
Past Due 31-60 days 8,168,150.31 319
Past Due 61-90 days 2,416,085.72 97
Past Due 91-120 days 647,956.62 23
Past Due 121+ days 0.00 0
Total 11,232,192.65 439
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.78 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.49 %
Delinquency Trigger Occurred NO
Recoveries 621,263.18
Aggregate Net Losses/(Gains) - February 2024 554,546.75
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 1.02 %
Prior Net Losses/(Gains) Ratio 0.72 %
Second Prior Net Losses/(Gains) Ratio 0.61 %
Third Prior Net Losses/(Gains) Ratio 0.94 %
Four Month Average 0.82 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.41 %
Overcollateralization Target Amount 5,131,586.28
Actual Overcollateralization 5,131,586.28
Weighted Average Contract Rate 5.08 %
Weighted Average Contract Rate, Yield Adjusted 10.45 %
Weighted Average Remaining Term 49.25
Flow of Funds $ Amount
Collections 26,290,365.77
Investment Earnings on Cash Accounts 25,187.68
Servicing Fee (545,765.23 )
Transfer to Collection Account -
Available Funds 25,769,788.22
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 2,537,482.97
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest -
(5) Noteholders' Second Priority Principal Distributable Amount 189,740.61
(6) Class C Interest -
(7) Noteholders' Third Priority Principal Distributable Amount 15,360,000.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,131,586.28
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 2,550,978.36
Total Distributions of Available Funds 25,769,788.22
Servicing Fee 545,765.23
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 975,300,000.00
Original Class B 30,630,000.00
Original Class C 15,360,000.00
Total Class A, B, & C
Note Balance @ 02/15/24 585,725,994.03
Principal Paid 20,681,326.89
Note Balance @ 03/15/24 565,044,667.14
Class A-1
Note Balance @ 02/15/24 0.00
Principal Paid 0.00
Note Balance @ 03/15/24 0.00
Note Factor @ 03/15/24 0.0000000 %
Class A-2a
Note Balance @ 02/15/24 86,576,812.17
Principal Paid 13,436,719.05
Note Balance @ 03/15/24 73,140,093.12
Note Factor @ 03/15/24 31.5476592 %
Class A-2b
Note Balance @ 02/15/24 46,679,181.86
Principal Paid 7,244,607.84
Note Balance @ 03/15/24 39,434,574.02
Note Factor @ 03/15/24 31.5476592 %
Class A-3
Note Balance @ 02/15/24 306,860,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 306,860,000.00
Note Factor @ 03/15/24 100.0000000 %
Class A-4
Note Balance @ 02/15/24 99,620,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 99,620,000.00
Note Factor @ 03/15/24 100.0000000 %
Class B
Note Balance @ 02/15/24 30,630,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 30,630,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 15,360,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 15,360,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 2,537,482.97
Total Principal Paid 20,681,326.89
Total Paid 23,218,809.86
Class A-1
Coupon 4.42600 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.51000 %
Interest Paid 397,531.86
Principal Paid 13,436,719.05
Total Paid to A-2a Holders 13,834,250.91
Class A-2b
One-Month SOFR 5.32471 %
Coupon 6.17471 %
Interest Paid 232,185.61
Principal Paid 7,244,607.84
Total Paid to A-2b Holders 7,476,793.45
Class A-3
Coupon 5.61000 %
Interest Paid 1,434,570.50
Principal Paid 0.00
Total Paid to A-3 Holders 1,434,570.50
Class A-4
Coupon 5.70000 %
Interest Paid 473,195.00
Principal Paid 0.00
Total Paid to A-4 Holders 473,195.00
Class B
Coupon 0.00000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to B Holders 0.00
Class C
Coupon 0.00000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to C Holders 0.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 2.4845861
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 20.2502001
Total Distribution Amount 22.7347862
A-1 Interest Distribution Amount 0.0000000
A-1 Interest Carryover Shortfall 0.0000000
A-1 Principal Distribution Amount 0.0000000
Total A-1 Distribution Amount 0.0000000
A-2a Interest Distribution Amount 1.7146819
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 57.9568627
Total A-2a Distribution Amount 59.6715446
A-2b Interest Distribution Amount 1.8574849
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 57.9568627
Total A-2b Distribution Amount 59.8143476
A-3 Interest Distribution Amount 4.6750000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 4.6750000
A-4 Interest Distribution Amount 4.7500000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 4.7500000
B Interest Distribution Amount 0.0000000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.0000000
C Interest Distribution Amount 0.0000000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 0.0000000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 9.17
Noteholders' Third Priority Principal Distributable Amount 742.70
Noteholders' Principal Distributable Amount 248.13
Account Balances $ Amount
Reserve Account
Balance as of 02/15/24 5,106,453.81
Investment Earnings 21,166.87
Investment Earnings Paid (21,166.87 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 5,106,453.81
Change -
Required Reserve Amount 5,106,453.81
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 3,285,033.33 $ 4,489,387.44 $ 4,788,673.18
Number of Extensions 112 151 175
Ratio of extensions to Beginning of Period Receivables Balance 0.50 % 0.66 % 0.68 %