World Omni Auto Receivables Trust 2023-A

05/29/2024 | Press release | Distributed by Public on 05/29/2024 05:44

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2023-A
Monthly Servicer Certificate
April 30, 2024
Dates Covered
Collections Period 04/01/24 - 04/30/24
Interest Accrual Period 04/15/24 - 05/14/24
30/360 Days 30
Actual/360 Days 30
Distribution Date 05/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 03/31/24 592,597,739.06 31,475
Yield Supplement Overcollateralization Amount 03/31/24 52,376,540.88 0
Receivables Balance 03/31/24 644,974,279.94 31,475
Principal Payments 25,521,876.79 962
Defaulted Receivables 666,353.39 25
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 04/30/24 49,554,734.66 0
Pool Balance at 04/30/24 569,231,315.10 30,488
Pool Statistics $ Amount # of Accounts
Pool Factor 55.41 %
Prepayment ABS Speed 1.56 %
Aggregate Starting Principal Balance 1,116,806,264.43 45,522
Delinquent Receivables:
Past Due 31-60 days 7,413,728.01 293
Past Due 61-90 days 2,152,343.99 84
Past Due 91-120 days 604,328.65 22
Past Due 121+ days 0.00 0
Total 10,170,400.65 399
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.64 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.45 %
Delinquency Trigger Occurred NO
Recoveries 412,168.88
Aggregate Net Losses/(Gains) - April 2024 254,184.51
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.47 %
Prior Net Losses/(Gains) Ratio 0.41 %
Second Prior Net Losses/(Gains) Ratio 0.79 %
Third Prior Net Losses/(Gains) Ratio 0.51 %
Four Month Average 0.55 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.32 %
Overcollateralization Target Amount 5,123,081.84
Actual Overcollateralization 5,123,081.84
Weighted Average Contract Rate 5.73 %
Weighted Average Contract Rate, Yield Adjusted 10.28 %
Weighted Average Remaining Term 49.18
Flow of Funds $ Amount
Collections 29,071,072.90
Investment Earnings on Cash Accounts 25,865.16
Servicing Fee (537,478.57 )
Transfer to Collection Account -
Available Funds 28,559,459.49
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 2,239,074.80
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 126,714.08
(5) Noteholders' Second Priority Principal Distributable Amount 2,913,044.31
(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 5,123,081.84
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 2,971,772.46
Total Distributions of Available Funds 28,559,459.49
Servicing Fee 537,478.57
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 @ 04/15/24 587,264,359.41
Principal Paid 23,156,126.15
Note Balance @ 05/15/24 564,108,233.26
Class A-1
Note Balance @ 04/15/24 0.00
Principal Paid 0.00
Note Balance @ 05/15/24 0.00
Note Factor @ 05/15/24 0.0000000 %
Class A-2a
Note Balance @ 04/15/24 115,307,806.25
Principal Paid 16,238,969.20
Note Balance @ 05/15/24 99,068,837.05
Note Factor @ 05/15/24 38.3630875 %
Class A-2b
Note Balance @ 04/15/24 49,116,553.16
Principal Paid 6,917,156.95
Note Balance @ 05/15/24 42,199,396.21
Note Factor @ 05/15/24 38.3630875 %
Class A-3
Note Balance @ 04/15/24 279,880,000.00
Principal Paid 0.00
Note Balance @ 05/15/24 279,880,000.00
Note Factor @ 05/15/24 100.0000000 %
Class A-4
Note Balance @ 04/15/24 97,610,000.00
Principal Paid 0.00
Note Balance @ 05/15/24 97,610,000.00
Note Factor @ 05/15/24 100.0000000 %
Class B
Note Balance @ 04/15/24 30,230,000.00
Principal Paid 0.00
Note Balance @ 05/15/24 30,230,000.00
Note Factor @ 05/15/24 100.0000000 %
Class C
Note Balance @ 04/15/24 15,120,000.00
Principal Paid 0.00
Note Balance @ 05/15/24 15,120,000.00
Note Factor @ 05/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 2,431,560.88
Total Principal Paid 23,156,126.15
Total Paid 25,587,687.03
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 497,745.36
Principal Paid 16,238,969.20
Total Paid to A-2a Holders 16,736,714.56
Class A-2b
SOFR Rate 5.33002 %
Coupon 5.76002 %
Interest Paid 235,760.27
Principal Paid 6,917,156.95
Total Paid to A-2b Holders 7,152,917.22
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 2.4131486
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 22.9807828
Total Distribution Amount 25.3939314
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 1.9274526
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 62.8832450
Total A-2a Distribution Amount 64.8106976
A-2b Interest Distribution Amount 2.1432752
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 62.8832450
Total A-2b Distribution Amount 65.0265202
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 125.80
Noteholders' Third Priority Principal Distributable Amount 652.96
Noteholders' Principal Distributable Amount 221.24
Account Balances $ Amount
Reserve Account
Balance as of 04/15/24 5,038,175.22
Investment Earnings 21,716.14
Investment Earnings Paid (21,716.14 )
Deposit/(Withdrawal) -
Balance as of 05/15/24 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 $ 3,740,346.37 4,141,159.29 3,512,841.55
Number of Extensions 123 143 129
Ratio of extensions to Beginning of Period Receivables Balance 0.58 % 0.62 % 0.50 %