World Omni Auto Receivables Trust 2022-B

03/28/2024 | Press release | Distributed by Public on 03/28/2024 05:52

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2022-B
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 01/31/24 445,671,408.01 24,148
Yield Supplement Overcollateralization Amount 01/31/24 32,574,213.45 0
Receivables Balance 01/31/24 478,245,621.46 24,148
Principal Payments 18,935,895.44 508
Defaulted Receivables 915,206.01 40
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 02/29/24 30,628,746.69 0
Pool Balance at 02/29/24 427,765,773.32 23,600
Pool Statistics $ Amount # of Accounts
Pool Factor 42.29 %
Prepayment ABS Speed 1.29 %
Aggregate Starting Principal Balance 1,083,969,917.66 44,920
Delinquent Receivables:
Past Due 31-60 days 8,306,943.78 342
Past Due 61-90 days 2,168,359.51 87
Past Due 91-120 days 475,920.10 20
Past Due 121+ days 0.00 0
Total 10,951,223.39 449
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.39 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.58 %
Delinquency Trigger Occurred NO
Recoveries 499,331.41
Aggregate Net Losses/(Gains) - February 2024 415,874.60
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 1.04 %
Prior Net Losses/(Gains) Ratio 0.36 %
Second Prior Net Losses/(Gains) Ratio 0.59 %
Third Prior Net Losses/(Gains) Ratio 0.63 %
Four Month Average 0.66 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.43 %
Overcollateralization Target Amount 4,915,858.40
Actual Overcollateralization 4,915,858.40
Weighted Average Contract Rate 4.36 %
Weighted Average Contract Rate, Yield Adjusted 8.60 %
Weighted Average Remaining Term 43.03
Flow of Funds $ Amount
Collections 21,164,749.04
Investment Earnings on Cash Accounts 23,556.24
Servicing Fee (398,538.02 )
Transfer to Collection Account -
Available Funds 20,789,767.26
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 1,101,583.16
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 87,516.67
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 44,987.50
(7) Noteholders' Third Priority Principal Distributable Amount 12,989,776.29
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 4,915,858.40
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 1,650,045.24
Total Distributions of Available Funds 20,789,767.26
Servicing Fee 398,538.02
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 938,920,000.00
Original Class B 29,500,000.00
Original Class C 14,750,000.00
Total Class A, B, & C
Note Balance @ 02/15/24 440,755,549.61
Principal Paid 17,905,634.69
Note Balance @ 03/15/24 422,849,914.92
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 28,409,884.74
Principal Paid 12,533,944.28
Note Balance @ 03/15/24 15,875,940.46
Note Factor @ 03/15/24 6.4067556 %
Class A-2b
Note Balance @ 02/15/24 12,175,664.87
Principal Paid 5,371,690.41
Note Balance @ 03/15/24 6,803,974.46
Note Factor @ 03/15/24 6.4067556 %
Class A-3
Note Balance @ 02/15/24 266,000,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 266,000,000.00
Note Factor @ 03/15/24 100.0000000 %
Class A-4
Note Balance @ 02/15/24 89,920,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 89,920,000.00
Note Factor @ 03/15/24 100.0000000 %
Class B
Note Balance @ 02/15/24 29,500,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 29,500,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 14,750,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 14,750,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 1,234,087.33
Total Principal Paid 17,905,634.69
Total Paid 19,139,722.02
Class A-1
Coupon 1.54800 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 2.77000 %
Interest Paid 65,579.48
Principal Paid 12,533,944.28
Total Paid to A-2a Holders 12,599,523.76
Class A-2b
One-Month SOFR 5.32471 %
Coupon 5.89471 %
Interest Paid 57,816.34
Principal Paid 5,371,690.41
Total Paid to A-2b Holders 5,429,506.75
Class A-3
Coupon 3.25000 %
Interest Paid 720,416.67
Principal Paid 0.00
Total Paid to A-3 Holders 720,416.67
Class A-4
Coupon 3.44000 %
Interest Paid 257,770.67
Principal Paid 0.00
Total Paid to A-4 Holders 257,770.67
Class B
Coupon 3.56000 %
Interest Paid 87,516.67
Principal Paid 0.00
Total Paid to B Holders 87,516.67
Class C
Coupon 3.66000 %
Interest Paid 44,987.50
Principal Paid 0.00
Total Paid to C Holders 44,987.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 1.2552126
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 18.2121451
Total Distribution Amount 19.4673577
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 0.2646468
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 50.5808889
Total A-2a Distribution Amount 50.8455357
A-2b Interest Distribution Amount 0.5444100
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 50.5808890
Total A-2b Distribution Amount 51.1252990
A-3 Interest Distribution Amount 2.7083333
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 2.7083333
A-4 Interest Distribution Amount 2.8666667
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 2.8666667
B Interest Distribution Amount 2.9666668
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 2.9666668
C Interest Distribution Amount 3.0500000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 3.0500000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 725.46
Noteholders' Principal Distributable Amount 274.54
Account Balances $ Amount
Reserve Account
Balance as of 02/15/24 4,915,858.40
Investment Earnings 20,490.03
Investment Earnings Paid (20,490.03 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 4,915,858.40
Change -
Required Reserve Amount 4,915,858.40
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 3,371,030.82 $ 3,612,179.69 4,239,227.64
Number of Extensions 129 136 159
Ratio of extensions to Beginning of Period Receivables Balance 0.70 % 0.73 % 0.82 %