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