World Omni Auto Receivables Trust 2022-B

04/29/2024 | Press release | Distributed by Public on 04/29/2024 05:12

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2022-B

Monthly Servicer Certificate

March 31, 2024

Dates Covered
Collections Period 03/01/24 - 03/31/24
Interest Accrual Period 03/15/24 - 04/14/24
30/360 Days 30
Actual/360 Days 31
Distribution Date 04/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 02/29/24 427,765,773.32 23,600
Yield Supplement Overcollateralization Amount 02/29/24 30,628,746.69 0
Receivables Balance 02/29/24 458,394,520.01 23,600
Principal Payments 18,146,621.08 457
Defaulted Receivables 560,750.48 27
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 03/31/24 28,803,235.26 0
Pool Balance at 03/31/24 410,883,913.19 23,116
Pool Statistics $ Amount # of Accounts
Pool Factor 40.56 %
Prepayment ABS Speed 1.23 %
Aggregate Starting Principal Balance 1,083,969,917.66 44,920
Delinquent Receivables:
Past Due 31-60 days 7,136,333.35 282
Past Due 61-90 days 2,165,847.49 94
Past Due 91-120 days 398,938.49 17
Past Due 121+ days 0.00 0
Total 9,701,119.33 393
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.21 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.58 %
Delinquency Trigger Occurred NO
Recoveries 459,125.19
Aggregate Net Losses/(Gains) - March 2024 101,625.29
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.27 %
Prior Net Losses/(Gains) Ratio 1.04 %
Second Prior Net Losses/(Gains) Ratio 0.36 %
Third Prior Net Losses/(Gains) Ratio 0.59 %
Four Month Average 0.57 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.44 %
Overcollateralization Target Amount 4,915,858.40
Actual Overcollateralization 4,915,858.40
Weighted Average Contract Rate 4.37 %
Weighted Average Contract Rate, Yield Adjusted 8.60 %
Weighted Average Remaining Term 42.23
Flow of Funds $ Amount
Collections 20,179,085.91
Investment Earnings on Cash Accounts 24,939.37
Servicing Fee (381,995.43 )
Transfer to Collection Account -
Available Funds 19,822,029.85
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 1,049,335.71
(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 11,966,001.73
(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 1,758,329.84
Total Distributions of Available Funds 19,822,029.85
Servicing Fee 381,995.43
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 @ 03/15/24 422,849,914.92
Principal Paid 16,881,860.13
Note Balance @ 04/15/24 405,968,054.79
Class A-1
Note Balance @ 03/15/24 0.00
Principal Paid 0.00
Note Balance @ 04/15/24 0.00
Note Factor @ 04/15/24 0.0000000 %
Class A-2a
Note Balance @ 03/15/24 15,875,940.46
Principal Paid 11,817,302.09
Note Balance @ 04/15/24 4,058,638.37
Note Factor @ 04/15/24 1.6378686 %
Class A-2b
Note Balance @ 03/15/24 6,803,974.46
Principal Paid 5,064,558.04
Note Balance @ 04/15/24 1,739,416.42
Note Factor @ 04/15/24 1.6378686 %
Class A-3
Note Balance @ 03/15/24 266,000,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 266,000,000.00
Note Factor @ 04/15/24 100.0000000 %
Class A-4
Note Balance @ 03/15/24 89,920,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 89,920,000.00
Note Factor @ 04/15/24 100.0000000 %
Class B
Note Balance @ 03/15/24 29,500,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 29,500,000.00
Note Factor @ 04/15/24 100.0000000 %
Class C
Note Balance @ 03/15/24 14,750,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 14,750,000.00
Note Factor @ 04/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 1,181,839.88
Total Principal Paid 16,881,860.13
Total Paid 18,063,700.01
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 36,646.96
Principal Paid 11,817,302.09
Total Paid to A-2a Holders 11,853,949.05
Class A-2b
One-Month SOFR 5.31864 %
Coupon 5.88864 %
Interest Paid 34,501.41
Principal Paid 5,064,558.04
Total Paid to A-2b Holders 5,099,059.45
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 1.2020707
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 17.1708455
Total Distribution Amount 18.3729162
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 0.1478893
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 47.6888704
Total A-2a Distribution Amount 47.8367597
A-2b Interest Distribution Amount 0.3248720
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 47.6888704
Total A-2b Distribution Amount 48.0137424
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 708.81
Noteholders' Principal Distributable Amount 291.19
Account Balances $ Amount
Reserve Account
Balance as of 03/15/24 4,915,858.40
Investment Earnings 21,897.72
Investment Earnings Paid (21,897.72 )
Deposit/(Withdrawal) -
Balance as of 04/15/24 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 $ 3,271,189.11 $ 3,371,030.82 3,612,179.69
Number of Extensions 123 129 136
Ratio of extensions to Beginning of Period Receivables Balance 0.71 % 0.70 % 0.73 %