World Omni Auto Receivables Trust 2023-A

11/29/2023 | Press release | Distributed by Public on 11/29/2023 06:19

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2023-A
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 09/30/23 739,249,699.01 36,337
Yield Supplement Overcollateralization Amount 09/30/23 71,095,571.79 0
Receivables Balance 09/30/23 810,345,270.80 36,337
Principal Payments 29,853,619.32 794
Defaulted Receivables 814,136.47 29
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 10/31/23 67,540,191.24 0
Pool Balance at 10/31/23 712,137,323.77 35,514
Pool Statistics $ Amount # of Accounts
Pool Factor 69.81 %
Prepayment ABS Speed 1.65 %
Aggregate Starting Principal Balance 1,116,806,264.43 45,522
Delinquent Receivables:
Past Due 31-60 days 7,809,421.10 313
Past Due 61-90 days 1,662,523.21 63
Past Due 91-120 days 414,801.49 21
Past Due 121+ days 0.00 0
Total 9,886,745.80 397
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.27 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.27 %
Delinquency Trigger Occurred NO
Recoveries 514,338.61
Aggregate Net Losses/(Gains) - October 2023 299,797.86
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.44 %
Prior Net Losses/(Gains) Ratio 0.46 %
Second Prior Net Losses/(Gains) Ratio 0.37 %
Third Prior Net Losses/(Gains) Ratio 0.30 %
Four Month Average 0.39 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.15 %
Overcollateralization Target Amount 6,409,235.91
Actual Overcollateralization 6,409,235.91
Weighted Average Contract Rate 5.68 %
Weighted Average Contract Rate, Yield Adjusted 10.29 %
Weighted Average Remaining Term 53.35
Flow of Funds $ Amount
Collections 34,191,634.96
Investment Earnings on Cash Accounts 27,224.38
Servicing Fee (675,287.73 )
Transfer to Collection Account -
Available Funds 33,543,571.61
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 2,886,660.12
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 126,714.08
(5) Noteholders' Second Priority Principal Distributable Amount 5,339,127.95
(6) Class C Interest 65,772.00
(7) Noteholders' Third Priority Principal Distributable Amount 15,120,000.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 6,409,235.91
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 3,596,061.55
Total Distributions of Available Funds 33,543,571.61
Servicing Fee 675,287.73
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 962,280,000.00
Original Class B 30,230,000.00
Original Class C 15,120,000.00
Total Class A, B, & C
Note Balance @ 10/16/23 732,596,451.72
Principal Paid 26,868,363.86
Note Balance @ 11/15/23 705,728,087.86
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 @ 10/16/23 217,226,553.58
Principal Paid 18,842,293.84
Note Balance @ 11/15/23 198,384,259.74
Note Factor @ 11/15/23 76.8216619 %
Class A-2b
Note Balance @ 10/16/23 92,529,898.14
Principal Paid 8,026,070.02
Note Balance @ 11/15/23 84,503,828.12
Note Factor @ 11/15/23 76.8216619 %
Class A-3
Note Balance @ 10/16/23 279,880,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 279,880,000.00
Note Factor @ 11/15/23 100.0000000 %
Class A-4
Note Balance @ 10/16/23 97,610,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 97,610,000.00
Note Factor @ 11/15/23 100.0000000 %
Class B
Note Balance @ 10/16/23 30,230,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 30,230,000.00
Note Factor @ 11/15/23 100.0000000 %
Class C
Note Balance @ 10/16/23 15,120,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 15,120,000.00
Note Factor @ 11/15/23 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 3,079,146.20
Total Principal Paid 26,868,363.86
Total Paid 29,947,510.06
Class A-1
Coupon 4.86700 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.18000 %
Interest Paid 937,694.62
Principal Paid 18,842,293.84
Total Paid to A-2a Holders 19,779,988.46
Class A-2b
SOFR Rate 5.32031 %
Coupon 5.75031 %
Interest Paid 443,396.33
Principal Paid 8,026,070.02
Total Paid to A-2b Holders 8,469,466.35
Class A-3
Coupon 4.83000 %
Interest Paid 1,126,517.00
Principal Paid 0.00
Total Paid to A-3 Holders 1,126,517.00
Class A-4
Coupon 4.66000 %
Interest Paid 379,052.17
Principal Paid 0.00
Total Paid to A-4 Holders 379,052.17
Class B
Coupon 5.03000 %
Interest Paid 126,714.08
Principal Paid 0.00
Total Paid to B Holders 126,714.08
Class C
Coupon 5.22000 %
Interest Paid 65,772.00
Principal Paid 0.00
Total Paid to C Holders 65,772.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 3.0558302
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 26.6649106
Total Distribution Amount 29.7207408
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 3.6310975
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 72.9642729
Total A-2a Distribution Amount 76.5953704
A-2b Interest Distribution Amount 4.0308757
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 72.9642729
Total A-2b Distribution Amount 76.9951486
A-3 Interest Distribution Amount 4.0250000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 4.0250000
A-4 Interest Distribution Amount 3.8833334
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 3.8833334
B Interest Distribution Amount 4.1916666
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 4.1916666
C Interest Distribution Amount 4.3500000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 4.3500000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 198.72
Noteholders' Third Priority Principal Distributable Amount 562.74
Noteholders' Principal Distributable Amount 238.54
Account Balances $ Amount
Reserve Account
Balance as of 10/16/23 5,038,175.22
Investment Earnings 22,499.26
Investment Earnings Paid (22,499.26 )
Deposit/(Withdrawal) -
Balance as of 11/15/23 5,038,175.22
Change -
Required Reserve Amount 5,038,175.22
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 5,004,849.52 4,848,579.31 4,910,639.51
Number of Extensions 169 160 168
Ratio of extensions to Beginning of Period Receivables Balance 0.62 % 0.58 % 0.56 %