World Omni Auto Receivables Trust 2023-B

07/29/2024 | Press release | Distributed by Public on 07/29/2024 05:13

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2023-B
Monthly Servicer Certificate
June 30, 2024
Dates Covered
Collections Period 06/01/24 - 06/30/24
Interest Accrual Period 06/17/24 - 07/14/24
30/360 Days 30
Actual/360 Days 28
Distribution Date 07/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 05/31/24 625,870,135.18 32,654
Yield Supplement Overcollateralization Amount 05/31/24 55,691,025.79 0
Receivables Balance 05/31/24 681,561,160.97 32,654
Principal Payments 25,137,356.72 630
Defaulted Receivables 1,049,473.16 36
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 06/30/24 52,831,298.73 0
Pool Balance at 06/30/24 602,543,032.36 31,988
Pool Statistics $ Amount # of Accounts
Pool Factor 56.36 %
Prepayment ABS Speed 1.42 %
Aggregate Starting Principal Balance 1,162,826,061.02 44,579
Delinquent Receivables:
Past Due 31-60 days 9,065,586.74 373
Past Due 61-90 days 3,425,043.75 133
Past Due 91-120 days 587,279.83 24
Past Due 121+ days 0.00 0
Total 13,077,910.32 530
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.00 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.61 %
Delinquency Trigger Occurred NO
Recoveries 551,245.37
Aggregate Net Losses/(Gains) - June 2024 498,227.79
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.88 %
Prior Net Losses/(Gains) Ratio 0.22 %
Second Prior Net Losses/(Gains) Ratio 0.01 %
Third Prior Net Losses/(Gains) Ratio 0.99 %
Four Month Average 0.53 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.39 %
Overcollateralization Target Amount 6,929,244.87
Actual Overcollateralization 6,929,244.87
Weighted Average Contract Rate 5.70 %
Weighted Average Contract Rate, Yield Adjusted 10.38 %
Weighted Average Remaining Term 47.95
Flow of Funds $ Amount
Collections 28,732,300.43
Investment Earnings on Cash Accounts 15,909.35
Servicing Fee (567,967.63 )
Transfer to Collection Account -
Available Funds 28,180,242.15
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 2,329,822.42
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 127,914.25
(5) Noteholders' Second Priority Principal Distributable Amount 389,596.27
(6) Class C Interest 67,288.50
(7) Noteholders' Third Priority Principal Distributable Amount 15,740,000.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 6,929,244.87
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 2,596,375.84
Total Distributions of Available Funds 28,180,242.15
Servicing Fee 567,967.63
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 996,700,000.00
Original Class B 31,390,000.00
Original Class C 15,740,000.00
Total Class A, B, & C
Note Balance @ 06/17/24 618,672,628.63
Principal Paid 23,058,841.14
Note Balance @ 07/15/24 595,613,787.49
Class A-1
Note Balance @ 06/17/24 0.00
Principal Paid 0.00
Note Balance @ 07/15/24 0.00
Note Factor @ 07/15/24 0.0000000 %
Class A-2a
Note Balance @ 06/17/24 104,996,878.82
Principal Paid 13,847,345.85
Note Balance @ 07/15/24 91,149,532.97
Note Factor @ 07/15/24 39.6302317 %
Class A-2b
Note Balance @ 06/17/24 69,845,749.81
Principal Paid 9,211,495.29
Note Balance @ 07/15/24 60,634,254.52
Note Factor @ 07/15/24 39.6302317 %
Class A-3
Note Balance @ 06/17/24 297,200,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 297,200,000.00
Note Factor @ 07/15/24 100.0000000 %
Class A-4
Note Balance @ 06/17/24 99,500,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 99,500,000.00
Note Factor @ 07/15/24 100.0000000 %
Class B
Note Balance @ 06/17/24 31,390,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 31,390,000.00
Note Factor @ 07/15/24 100.0000000 %
Class C
Note Balance @ 06/17/24 15,740,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 15,740,000.00
Note Factor @ 07/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 2,525,025.17
Total Principal Paid 23,058,841.14
Total Paid 25,583,866.31
Class A-1
Coupon 5.31600 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.25000 %
Interest Paid 459,361.34
Principal Paid 13,847,345.85
Total Paid to A-2a Holders 14,306,707.19
Class A-2b
SOFR Rate 5.33303 %
Coupon 6.04303 %
Interest Paid 328,284.41
Principal Paid 9,211,495.29
Total Paid to A-2b Holders 9,539,779.70
Class A-3
Coupon 4.66000 %
Interest Paid 1,154,126.67
Principal Paid 0.00
Total Paid to A-3 Holders 1,154,126.67
Class A-4
Coupon 4.68000 %
Interest Paid 388,050.00
Principal Paid 0.00
Total Paid to A-4 Holders 388,050.00
Class B
Coupon 4.89000 %
Interest Paid 127,914.25
Principal Paid 0.00
Total Paid to B Holders 127,914.25
Class C
Coupon 5.13000 %
Interest Paid 67,288.50
Principal Paid 0.00
Total Paid to C Holders 67,288.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 2.4190004
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 22.0906097
Total Distribution Amount 24.5096101
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 1.9972232
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 60.2058515
Total A-2a Distribution Amount 62.2030747
A-2b Interest Distribution Amount 2.1456497
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 60.2058516
Total A-2b Distribution Amount 62.3515013
A-3 Interest Distribution Amount 3.8833333
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 3.8833333
A-4 Interest Distribution Amount 3.9000000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 3.9000000
B Interest Distribution Amount 4.0750000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 4.0750000
C Interest Distribution Amount 4.2750000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 4.2750000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 16.90
Noteholders' Third Priority Principal Distributable Amount 682.60
Noteholders' Principal Distributable Amount 300.50
Account Balances $ Amount
Reserve Account
Balance as of 06/17/24 2,616,119.83
Investment Earnings 11,276.31
Investment Earnings Paid (11,276.31 )
Deposit/(Withdrawal) -
Balance as of 07/15/24 2,616,119.83
Change -
Required Reserve Amount 2,616,119.83
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 4,348,817.70 $ 4,432,139.38 $ 4,195,822.56
Number of Extensions 154 152 150
Ratio of extensions to Beginning of Period Receivables Balance 0.64 % 0.62 % 0.57 %