World Omni Auto Receivables Trust 2022-B

09/27/2024 | Press release | Distributed by Public on 09/27/2024 05:29

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2022-B
Monthly Servicer Certificate
August 31, 2024
Dates Covered
Collections Period 08/01/24 - 08/31/24
Interest Accrual Period 08/15/24 - 09/15/24
30/360 Days 30
Actual/360 Days 32
Distribution Date 09/16/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 07/31/24 345,269,582.74 21,111
Yield Supplement Overcollateralization Amount 07/31/24 20,852,419.48 0
Receivables Balance 07/31/24 366,122,002.22 21,111
Principal Payments 15,808,172.43 405
Defaulted Receivables 672,547.59 30
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 08/31/24 19,508,047.98 0
Pool Balance at 08/31/24 330,133,234.22 20,676
Pool Statistics $ Amount # of Accounts
Pool Factor 32.26 %
Prepayment ABS Speed 1.23 %
Aggregate Starting Principal Balance 1,083,969,917.66 44,920
Delinquent Receivables:
Past Due 31-60 days 7,769,278.31 337
Past Due 61-90 days 2,434,059.55 97
Past Due 91-120 days 555,622.02 24
Past Due 121+ days 0.00 0
Total 10,758,959.88 458
Total 31+ Delinquent as % Aggregate Ending Principal Balance 3.08 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.86 %
Delinquency Trigger Occurred NO
Recoveries 587,405.11
Aggregate Net Losses/(Gains) - August 2024 85,142.48
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.28 %
Prior Net Losses/(Gains) Ratio 0.39 %
Second Prior Net Losses/(Gains) Ratio 0.39 %
Third Prior Net Losses/(Gains) Ratio 0.31 %
Four Month Average 0.34 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.49 %
Overcollateralization Target Amount 4,915,858.40
Actual Overcollateralization 4,915,858.40
Weighted Average Contract Rate 4.46 %
Weighted Average Contract Rate, Yield Adjusted 8.36 %
Weighted Average Remaining Term 38.29
Flow of Funds $ Amount
Collections 17,767,829.16
Investment Earnings on Cash Accounts 24,585.20
Servicing Fee (305,101.67 )
Transfer to Collection Account -
Available Funds 17,487,312.69
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 816,184.92
(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 10,220,490.12
(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 1,402,275.08
Total Distributions of Available Funds 17,487,312.69
Servicing Fee 305,101.67
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 @ 08/15/24 340,353,724.34
Principal Paid 15,136,348.52
Note Balance @ 09/16/24 325,217,375.82
Class A-1
Note Balance @ 08/15/24 0.00
Principal Paid 0.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class A-2a
Note Balance @ 08/15/24 0.00
Principal Paid 0.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class A-2b
Note Balance @ 08/15/24 0.00
Principal Paid 0.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class A-3
Note Balance @ 08/15/24 206,183,724.34
Principal Paid 15,136,348.52
Note Balance @ 09/16/24 191,047,375.82
Note Factor @ 09/16/24 71.8223217 %
Class A-4
Note Balance @ 08/15/24 89,920,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 89,920,000.00
Note Factor @ 09/16/24 100.0000000 %
Class B
Note Balance @ 08/15/24 29,500,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 29,500,000.00
Note Factor @ 09/16/24 100.0000000 %
Class C
Note Balance @ 08/15/24 14,750,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 14,750,000.00
Note Factor @ 09/16/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 948,689.09
Total Principal Paid 15,136,348.52
Total Paid 16,085,037.61
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 0.00
Principal Paid 0.00
Total Paid to A-2a Holders 0.00
Class A-2b
One-Month SOFR 5.35353 %
Coupon 5.92353 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2b Holders 0.00
Class A-3
Coupon 3.25000 %
Interest Paid 558,414.25
Principal Paid 15,136,348.52
Total Paid to A-3 Holders 15,694,762.77
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 0.9649288
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 15.3954540
Total Distribution Amount 16.3603828
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 0.0000000
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 0.0000000
Total A-2a Distribution Amount 0.0000000
A-2b Interest Distribution Amount 0.0000000
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 0.0000000
Total A-2b Distribution Amount 0.0000000
A-3 Interest Distribution Amount 2.0993017
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 56.9035659
Total A-3 Distribution Amount 59.0028676
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 675.23
Noteholders' Principal Distributable Amount 324.77
Account Balances $ Amount
Reserve Account
Balance as of 08/15/24 4,915,858.40
Investment Earnings 21,883.52
Investment Earnings Paid (21,883.52 )
Deposit/(Withdrawal) -
Balance as of 09/16/24 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 $ 2,530,955.70 $ 3,882,632.86 3,720,434.40
Number of Extensions 112 160 154
Ratio of extensions to Beginning of Period Receivables Balance 0.69 % 1.01 % 0.93 %