Honda Auto Receivables 2022-1 Owner Trust
04/23/2024 | Press release | Distributed by Public on 04/23/2024 04:04
Asset-Backed Issuer Distribution Report - Form 10-D
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2022-1 Owner Trust |
|
Collection Period: March 1, 2024 through March 31, 2024 |
|
Deal Age |
26 |
Determination Date: 04/10/2024 |
|
Actual/360 Days |
31 |
Record Date: 04/14/2024 |
|
30/360 Days |
30 |
Payment Date: 04/15/2024 |
ORIGINAL DEAL PARAMETERS
|
Dollar Amount |
Number of Receivables |
||
|
Total Portfolio Balance |
$ |
1,619,433,199.26 |
77,478 |
|
Accrual Basis |
Dollar Amount |
% of Pool |
Interest Rate |
Final Scheduled |
||||
|
Class A-1 Notes |
Actual/360 |
$ |
389,000,000.00 |
24.02 |
% |
0.570 |
% |
March 15, 2023 |
|
Class A-2 Notes |
30/360 |
$ |
531,800,000.00 |
32.84 |
% |
1.440 |
% |
October 15, 2024 |
|
Class A-3 Notes |
30/360 |
$ |
531,800,000.00 |
32.84 |
% |
1.880 |
% |
May 15, 2026 |
|
Class A-4 Notes |
30/360 |
$ |
126,348,000.00 |
7.80 |
% |
2.040 |
% |
December 15, 2028 |
|
Certificates |
30/360 |
$ |
40,485,199.26 |
2.50 |
% |
0.000 |
% |
|
|
Total Securities Balance |
$ |
1,619,433,199.26 |
||||||
|
Total Note Balance |
$ |
1,578,948,000.00 |
||||||
|
Reserve Account Initial Deposit |
$ |
4,048,583.00 |
||||||
|
Yield Supplement Account Deposit |
$ |
89,148,168.76 |
COLLECTIONS
|
Interest Collections |
||
|
Simple Interest Collections |
$ |
1,110,069.75 |
|
Interest Related to Repurchased Receivables |
$ |
0.00 |
|
Interest Advance for simple Interest - Net * |
$ |
0.00 |
|
Total Interest Collections |
$ |
1,110,069.75 |
|
* 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 |
$ |
24,022,830.47 |
|
Prepayments in Full |
$ |
7,720,537.98 |
|
Liquidation Proceeds |
$ |
18,848.94 |
|
Principal Related to Repurchased Receivables |
$ |
0.00 |
|
Recoveries from Prior Month Charge Offs |
$ |
31,793.70 |
|
Total Principal Collections |
$ |
31,794,011.09 |
|
Total Interest and Principal Collections |
$ |
32,904,080.84 |
|
Yield Supplement Deposit |
$ |
1,593,815.30 |
|
Collection Account Investment Earnings |
$ |
0.00 |
|
Total Available Amount |
$ |
34,497,896.14 |
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2022-1 Owner Trust |
|
Collection Period: March 1, 2024 through March 31, 2024 |
|
Deal Age |
26 |
Determination Date: 04/10/2024 |
|
Actual/360 Days |
31 |
Record Date: 04/14/2024 |
|
30/360 Days |
30 |
Payment Date: 04/15/2024 |
DISTRIBUTIONS
|
Note Percentage |
100.00 |
% |
||||||
|
Certificate Percentage |
0.00 |
% |
Amount Due |
Amount Paid |
Shortfall |
|||
|
Total Servicing Fee |
1.00 |
% |
$ |
490,711.18 |
$ |
490,711.18 |
$ |
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 |
$ |
661,165.01 |
$ |
661,165.01 |
$ |
0.00 |
||
|
Interest - Class A-4 Notes |
$ |
214,791.60 |
$ |
214,791.60 |
$ |
0.00 |
||
|
Total Monthly Interest |
$ |
875,956.61 |
$ |
875,956.61 |
$ |
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 |
$ |
31,831,462.76 |
$ |
31,831,462.76 |
$ |
0.00 |
||
|
Principal - Class A-4 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
|
Total Monthly Principal |
$ |
31,831,462.76 |
$ |
31,831,462.76 |
$ |
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 |
$ |
1,299,765.59 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
1,299,765.59 |
|
Noteholder/Certificateholder Distributions |
Fee |
Interest |
Interest |
Principal |
Principal |
Amount |
||||
|
Servicing Fee |
$ |
0.30 |
$ |
490,711.18 |
||||||
|
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 |
$ |
1.24 |
$ |
0.00 |
$ |
59.86 |
$ |
0.00 |
$ |
32,492,627.77 |
|
Class A-4 Notes |
$ |
1.70 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
214,791.60 |
|
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 2022-1 Owner Trust |
|
Collection Period: March 1, 2024 through March 31, 2024 |
|
Deal Age |
26 |
Determination Date: 04/10/2024 |
|
Actual/360 Days |
31 |
Record Date: 04/14/2024 |
|
30/360 Days |
30 |
Payment Date: 04/15/2024 |
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 |
$ |
422,020,221.14 |
0.7935694 |
$ |
390,188,758.38 |
0.7337133 |
|
Class A-4 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
126,348,000.00 |
1.0000000 |
$ |
126,348,000.00 |
1.0000000 |
|
Certificates |
$ |
0.00 |
$ |
0.00 |
$ |
40,485,199.26 |
1.0000000 |
$ |
40,485,199.26 |
1.0000000 |
|
Total Securities |
$ |
588,853,420.40 |
0.3636170 |
$ |
557,021,957.64 |
0.3439611 |
||||
|
Total Notes |
$ |
548,368,221.14 |
0.3472997 |
$ |
516,536,758.38 |
0.3271398 |
|
Portfolio Information |
Original |
Prior Month |
Current Month |
|||
|
Weighted Average Coupon (WAC) |
2.50 |
% |
2.36 |
% |
2.36 |
% |
|
Weighted Average Remaining Maturity (WAM) |
51.13 |
28.21 |
27.34 |
|||
|
Weighted Average Original Maturity (WAOM) |
63.23 |
|||||
|
Remaining Number of Receivables |
77,478 |
51,647 |
50,541 |
|||
|
Portfolio Receivable Balance |
$ |
1,619,433,199.26 |
$ |
588,853,420.40 |
$ |
557,021,957.64 |
DELINQUENCY AND NET LOSS ACTIVITY
|
Net Loss and Delinquency Account Activity |
Amount |
|
|
Gross Principal Balance on Defaulted Receivables |
$ |
88,094.31 |
|
Liquidation Proceeds |
$ |
18,848.94 |
|
Recoveries on Previously Defaulted Contracts |
$ |
31,793.70 |
|
Aggregate Net Losses for Collection Period |
$ |
37,451.67 |
|
Net Loss Rate for Collection Period's Average Balance (annualized) |
0.08 |
% |
|
Cumulative Net Losses for all Periods |
$ |
1,965,663.08 |
|
Delinquent Receivables |
# Units |
% Unit |
Dollar Amount |
% Dollar |
|||
|
31-60 Days Delinquent |
253 |
0.50 |
% |
$ |
3,519,196.12 |
0.63 |
% |
|
61-90 Days Delinquent |
44 |
0.09 |
% |
$ |
584,622.43 |
0.10 |
% |
|
91-120 Days Delinquent |
6 |
0.01 |
% |
$ |
106,708.69 |
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 |
12 |
0.02 |
% |
$ |
221,689.21 |
0.04 |
% |
|
Total Accumulated Repossessed Vehicles in Inventory |
33 |
0.07 |
% |
$ |
609,736.35 |
0.11 |
% |
3
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2022-1 Owner Trust |
|
Collection Period: March 1, 2024 through March 31, 2024 |
|
Deal Age |
26 |
Determination Date: 04/10/2024 |
|
Actual/360 Days |
31 |
Record Date: 04/14/2024 |
|
30/360 Days |
30 |
Payment Date: 04/15/2024 |
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 |
0.18 |
% |
|
Second Preceding Collection Period |
0.27 |
% |
|
Preceding Collection Period |
0.15 |
% |
|
Current Collection Period |
0.08 |
% |
|
Four Month Average |
0.17 |
% |
|
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 |
0.16 |
% |
|
Current Collection Period |
0.16 |
% |
|
Three Month Average |
0.18 |
% |
|
Delinquency Trigger |
4.80% |
Delinquency Percentage exceeds Delinquency Trigger: |
No |
|
Delinquency Percentage - |
0.12% |
||
|
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 |
7 |
$ |
87,851.15 |
220 |
$ |
4,549,327.58 |
|
Liquidation Proceeds and Recoveries |
33 |
$ |
50,229.09 |
188 |
$ |
2,566,819.85 |
|
Net Loss Amount |
7 |
$ |
37,622.06 |
220 |
$ |
1,982,507.73 |
|
Net Loss % of Average |
0.08 |
% |
||||
|
Cumulative Net Loss % |
0.12 |
% |
||||
|
Average Net Loss of |
$ |
9,011.40 |
CREDIT ENHANCEMENT
|
Reconciliation of Reserve Account |
Reconciliation of Yield Supplement Account |
|||||
|
Beginning Reserve Account Balance |
$ |
4,048,583.00 |
Beginning Yield Supplement |
$ |
18,126,008.34 |
|
|
Investment Earnings |
$ |
17,825.07 |
Investment Earnings |
$ |
82,692.22 |
|
|
Excess Interest Deposited into the Reserve Account |
$ |
0.00 |
Additional Yield Supplement Amounts |
$ |
0.00 |
|
|
Investment Withdrawal to Seller |
$ |
(17,825.07 |
) |
Yield Supplement Withdrawal Amount |
$ |
1,593,815.30 |
|
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 |
$ |
4,048,583.00 |
Ending Yield Supplement Account Balance |
$ |
16,614,885.26 |
|
|
Reserve Account Required Amount |
$ |
4,048,583.00 |
4
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2022-1 Owner Trust |
|
Collection Period: March 1, 2024 through March 31, 2024 |
|
Deal Age |
26 |
Determination Date: 04/10/2024 |
|
Actual/360 Days |
31 |
Record Date: 04/14/2024 |
|
30/360 Days |
30 |
Payment Date: 04/15/2024 |
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