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World Omni Auto Receivables Trust 2023-B

11/29/2023 | Press release | Distributed by Public on 11/29/2023 06:21

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2023-B

Monthly Servicer Certificate

October 31, 2023

Dates Covered
Collections Period 10/01/23 - 10/31/23
Interest Accrual Period 10/16/23 - 11/14/23
30/360 Days 30
Actual/360 Days 30
Distribution Date 11/15/23
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 09/30/23 834,491,199.39 38,828
Yield Supplement Overcollateralization Amount 09/30/23 84,222,017.95 0
Receivables Balance 09/30/23 918,713,217.34 38,828
Principal Payments 30,275,260.16 1,201
Defaulted Receivables 880,079.38 35
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 10/31/23 80,219,767.91 0
Pool Balance at 10/31/23 807,338,109.89 37,592
Pool Statistics $ Amount # of Accounts
Pool Factor 76.33 %
Prepayment ABS Speed 1.45 %
Aggregate Starting Principal Balance 1,162,826,061.02 44,579
Delinquent Receivables:
Past Due 31-60 days 8,362,839.76 336
Past Due 61-90 days 2,342,446.77 93
Past Due 91-120 days 702,987.20 24
Past Due 121+ days 0.00 0
Total 11,408,273.73 453
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.29 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.34 %
Delinquency Trigger Occurred NO
Recoveries 491,956.00
Aggregate Net Losses/(Gains) - October 2023 388,123.38
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.51 %
Prior Net Losses/(Gains) Ratio 0.36 %
Second Prior Net Losses/(Gains) Ratio 0.21 %
Third Prior Net Losses/(Gains) Ratio 0.35 %
Four Month Average 0.36 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.14 %
Overcollateralization Target Amount 9,284,388.26
Actual Overcollateralization 9,284,388.26
Weighted Average Contract Rate 5.65 %
Weighted Average Contract Rate, Yield Adjusted 10.38 %
Weighted Average Remaining Term 54.08
Flow of Funds $ Amount
Collections 35,058,430.85
Investment Earnings on Cash Accounts 16,942.32
Servicing Fee (765,594.35 )
Transfer to Collection Account -
Available Funds 34,309,778.82
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 3,308,320.84
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 127,914.25
(5) Noteholders' Second Priority Principal Distributable Amount 1,816,440.71
(6) Class C Interest 67,288.50
(7) Noteholders' Third Priority Principal Distributable Amount 15,740,000.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 9,284,388.26
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 3,965,426.26
Total Distributions of Available Funds 34,309,778.82
Servicing Fee 765,594.35
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 996,700,000.00
Original Class B 31,390,000.00
Original Class C 15,740,000.00
Total Class A, B, & C
Note Balance @ 10/16/23 824,894,550.60
Principal Paid 26,840,828.97
Note Balance @ 11/15/23 798,053,721.63
Class A-1
Note Balance @ 10/16/23 0.00
Principal Paid 0.00
Note Balance @ 11/15/23 0.00
Note Factor @ 11/15/23 0.0000000 %
Class A-2a
Note Balance @ 10/16/23 228,837,719.68
Principal Paid 16,118,513.48
Note Balance @ 11/15/23 212,719,206.20
Note Factor @ 11/15/23 92.4866114 %
Class A-2b
Note Balance @ 10/16/23 152,226,830.92
Principal Paid 10,722,315.49
Note Balance @ 11/15/23 141,504,515.43
Note Factor @ 11/15/23 92.4866114 %
Class A-3
Note Balance @ 10/16/23 297,200,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 297,200,000.00
Note Factor @ 11/15/23 100.0000000 %
Class A-4
Note Balance @ 10/16/23 99,500,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 99,500,000.00
Note Factor @ 11/15/23 100.0000000 %
Class B
Note Balance @ 10/16/23 31,390,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 31,390,000.00
Note Factor @ 11/15/23 100.0000000 %
Class C
Note Balance @ 10/16/23 15,740,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 15,740,000.00
Note Factor @ 11/15/23 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 3,503,523.59
Total Principal Paid 26,840,828.97
Total Paid 30,344,352.56
Class A-1
Coupon 5.31600 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.25000 %
Interest Paid 1,001,165.02
Principal Paid 16,118,513.48
Total Paid to A-2a Holders 17,119,678.50
Class A-2b
SOFR Rate 5.32031 %
Coupon 6.03031 %
Interest Paid 764,979.15
Principal Paid 10,722,315.49
Total Paid to A-2b Holders 11,487,294.64
Class A-3
Coupon 4.66000 %
Interest Paid 1,154,126.67
Principal Paid 0.00
Total Paid to A-3 Holders 1,154,126.67
Class A-4
Coupon 4.68000 %
Interest Paid 388,050.00
Principal Paid 0.00
Total Paid to A-4 Holders 388,050.00
Class B
Coupon 4.89000 %
Interest Paid 127,914.25
Principal Paid 0.00
Total Paid to B Holders 127,914.25
Class C
Coupon 5.13000 %
Interest Paid 67,288.50
Principal Paid 0.00
Total Paid to C Holders 67,288.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 3.3564120
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 25.7137934
Total Distribution Amount 29.0702054
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 4.3528914
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 70.0804934
Total A-2a Distribution Amount 74.4333848
A-2b Interest Distribution Amount 4.9998637
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 70.0804934
Total A-2b Distribution Amount 75.0803571
A-3 Interest Distribution Amount 3.8833333
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 3.8833333
A-4 Interest Distribution Amount 3.9000000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 3.9000000
B Interest Distribution Amount 4.0750000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 4.0750000
C Interest Distribution Amount 4.2750000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 4.2750000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 67.67
Noteholders' Third Priority Principal Distributable Amount 586.42
Noteholders' Principal Distributable Amount 345.91
Account Balances $ Amount
Reserve Account
Balance as of 10/16/23 2,616,119.83
Investment Earnings 11,682.95
Investment Earnings Paid (11,682.95 )
Deposit/(Withdrawal) -
Balance as of 11/15/23 2,616,119.83
Change -
Required Reserve Amount 2,616,119.83
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 4,762,860.48 $ 4,674,117.81 $ 5,125,475.22
Number of Extensions 154 159 171
Ratio of extensions to Beginning of Period Receivables Balance 0.52 % 0.49 % 0.52 %