Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
15
|
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://www.sec.gov) under the registration number 333-258040 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
I. ORIGINAL DEAL PARAMETERS
|
Dollar Amount
|
# of Receivables
|
Weighted Avg Remaining Term at Cutoff
|
Initial Pool Balance
|
$
|
1,719,380,848.17
|
49,034
|
56.5 months
|
|
Dollar Amount
|
Note Interest Rate
|
Final Scheduled Payment Date
|
Original Securities
|
Class A-1 Notes
|
$
|
350,000,000.00
|
5.517
|
%
|
July 15, 2024
|
Class A-2a Notes
|
$
|
350,000,000.00
|
5.57
|
%
|
June 15, 2026
|
Class A-2b Notes
|
$
|
250,000,000.00
|
5.84353
|
%
|
*
|
June 15, 2026
|
Class A-3 Notes
|
$
|
479,000,000.00
|
5.23
|
%
|
May 15, 2028
|
Class A-4 Notes
|
$
|
71,000,000.00
|
5.06
|
%
|
February 15, 2029
|
Class B Notes
|
$
|
47,330,000.00
|
5.56
|
%
|
March 15, 2029
|
Class C Notes
|
$
|
31,610,000.00
|
5.71
|
%
|
December 15, 2030
|
Total
|
$
|
1,578,940,000.00
|
* 30-day average SOFR + 0.49%
|
II. AVAILABLE FUNDS
|
Interest:
|
Interest Collections
|
$
|
4,384,537.03
|
|
Principal:
|
Principal Collections
|
$
|
26,768,805.09
|
Prepayments in Full
|
$
|
13,781,484.16
|
Liquidation Proceeds
|
$
|
699,171.01
|
Recoveries
|
$
|
164,506.55
|
Sub Total
|
$
|
41,413,966.81
|
Collections
|
$
|
45,798,503.84
|
|
Purchase Amounts:
|
Purchase Amounts Related to Principal
|
$
|
233,890.35
|
Purchase Amounts Related to Interest
|
$
|
1,858.39
|
Sub Total
|
$
|
235,748.74
|
|
Clean-up Call
|
$
|
0.00
|
|
Reserve Account Draw Amount
|
$
|
0.00
|
|
Available Funds - Total
|
$
|
46,034,252.58
|
Page 1
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
15
|
III. DISTRIBUTIONS
|
Calculated Amount
|
Amount Paid
|
Shortfall
|
Carryover Shortfall
|
Remaining Available Funds
|
Trustee and Other Fees/Expenses
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
46,034,252.58
|
Servicing Fee
|
$
|
871,587.93
|
$
|
871,587.93
|
$
|
0.00
|
$
|
0.00
|
$
|
45,162,664.65
|
Interest - Class A-1 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
45,162,664.65
|
Interest - Class A-2a Notes
|
$
|
805,618.83
|
$
|
805,618.83
|
$
|
0.00
|
$
|
0.00
|
$
|
44,357,045.82
|
Interest - Class A-2b Notes
|
$
|
643,947.38
|
$
|
643,947.38
|
$
|
0.00
|
$
|
0.00
|
$
|
43,713,098.44
|
Interest - Class A-3 Notes
|
$
|
2,087,641.67
|
$
|
2,087,641.67
|
$
|
0.00
|
$
|
0.00
|
$
|
41,625,456.77
|
Interest - Class A-4 Notes
|
$
|
299,383.33
|
$
|
299,383.33
|
$
|
0.00
|
$
|
0.00
|
$
|
41,326,073.44
|
First Priority Principal Payment
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
41,326,073.44
|
Interest - Class B Notes
|
$
|
219,295.67
|
$
|
219,295.67
|
$
|
0.00
|
$
|
0.00
|
$
|
41,106,777.77
|
Second Priority Principal Payment
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
41,106,777.77
|
Interest - Class C Notes
|
$
|
150,410.92
|
$
|
150,410.92
|
$
|
0.00
|
$
|
0.00
|
$
|
40,956,366.85
|
Reserve Account Deposit
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
40,956,366.85
|
Regular Principal Payment
|
$
|
40,398,458.55
|
$
|
40,398,458.55
|
$
|
0.00
|
$
|
0.00
|
$
|
557,908.30
|
Additional Trustee and Other Fees/Expenses
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
557,908.30
|
Residual Released to Depositor
|
$
|
0.00
|
$
|
557,908.30
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
Total
|
$
|
46,034,252.58
|
|
Principal Payment:
|
First Priority Principal Payment
|
$
|
0.00
|
Second Priority Principal Payment
|
$
|
0.00
|
Regular Principal Payment
|
$
|
40,398,458.55
|
Total
|
$
|
40,398,458.55
|
|
IV. NOTEHOLDER PAYMENTS
|
Noteholder Principal Payments
|
Noteholder Interest Payments
|
Total Payment
|
Per $1,000 of
|
Per $1,000 of
|
Per $1,000 of
|
Actual
|
Original Balance
|
Actual
|
Original Balance
|
Actual
|
Original Balance
|
Class A-1 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
Class A-2a Notes
|
$
|
23,565,767.49
|
$
|
67.33
|
$
|
805,618.83
|
$
|
2.30
|
$
|
24,371,386.32
|
$
|
69.63
|
Class A-2b Notes
|
$
|
16,832,691.06
|
$
|
67.33
|
$
|
643,947.38
|
$
|
2.58
|
$
|
17,476,638.44
|
$
|
69.91
|
Class A-3 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
2,087,641.67
|
$
|
4.36
|
$
|
2,087,641.67
|
$
|
4.36
|
Class A-4 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
299,383.33
|
$
|
4.22
|
$
|
299,383.33
|
$
|
4.22
|
Class B Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
219,295.67
|
$
|
4.63
|
$
|
219,295.67
|
$
|
4.63
|
Class C Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
150,410.92
|
$
|
4.76
|
$
|
150,410.92
|
$
|
4.76
|
Total
|
$
|
40,398,458.55
|
$
|
25.59
|
$
|
4,206,297.80
|
$
|
2.66
|
$
|
44,604,756.35
|
$
|
28.25
|
|
Page 2
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
15
|
V. NOTE BALANCE AND POOL INFORMATION
|
Beginning of Period
|
End of Period
|
Balance
|
Note Factor
|
Balance
|
Note Factor
|
Class A-1 Notes
|
$
|
0.00
|
0.0000000
|
$
|
0.00
|
0.0000000
|
Class A-2a Notes
|
$
|
173,562,404.44
|
0.4958926
|
$
|
149,996,636.95
|
0.4285618
|
Class A-2b Notes
|
$
|
123,973,146.03
|
0.4958926
|
$
|
107,140,454.97
|
0.4285618
|
Class A-3 Notes
|
$
|
479,000,000.00
|
1.0000000
|
$
|
479,000,000.00
|
1.0000000
|
Class A-4 Notes
|
$
|
71,000,000.00
|
1.0000000
|
$
|
71,000,000.00
|
1.0000000
|
Class B Notes
|
$
|
47,330,000.00
|
1.0000000
|
$
|
47,330,000.00
|
1.0000000
|
Class C Notes
|
$
|
31,610,000.00
|
1.0000000
|
$
|
31,610,000.00
|
1.0000000
|
Total
|
$
|
926,475,550.47
|
0.5867706
|
$
|
886,077,091.92
|
0.5611848
|
|
Pool Information
|
Weighted Average APR
|
5.003
|
%
|
5.024
|
%
|
Weighted Average Remaining Term
|
45.73
|
44.98
|
Number of Receivables Outstanding
|
36,489
|
35,391
|
Pool Balance
|
$
|
1,045,905,516.79
|
$
|
1,003,676,244.68
|
Adjusted Pool Balance (Pool Balance - YSOC Amount)
|
$
|
967,367,294.55
|
$
|
928,763,798.53
|
Pool Factor
|
0.6083036
|
0.5837428
|
|
VI. OVERCOLLATERALIZATION INFORMATION
|
Specified Reserve Balance
|
$
|
3,947,366.14
|
Yield Supplement Overcollateralization Amount
|
$
|
74,912,446.15
|
Targeted Overcollateralization Amount
|
$
|
117,599,152.76
|
Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance)
|
$
|
117,599,152.76
|
|
VII. RECONCILIATION OF RESERVE ACCOUNT
|
Beginning Reserve Account Balance
|
$
|
3,947,366.14
|
Reserve Account Deposits Made
|
$
|
0.00
|
Reserve Account Draw Amount
|
$
|
0.00
|
Ending Reserve Account Balance
|
$
|
3,947,366.14
|
Change in Reserve Account Balance
|
$
|
0.00
|
Specified Reserve Balance
|
$
|
3,947,366.14
|
|
Page 3
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
15
|
VIII. NET LOSS AND DELINQUENT RECEIVABLES
|
# of Receivables
|
Amount
|
Current Collection Period Loss:
|
Realized Loss (Charge-Offs)
|
96
|
$
|
745,921.50
|
(Recoveries)
|
42
|
$
|
164,506.55
|
Net Loss for Current Collection Period
|
$
|
581,414.95
|
Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized)
|
0.6671
|
%
|
|
Prior and Current Collection Periods Average Loss:
|
|
Ratio of Net Loss to the Average Pool Balance (annualized)
|
Third Prior Collection Period
|
0.5838
|
%
|
Second Prior Collection Period
|
0.5295
|
%
|
Prior Collection Period
|
0.9987
|
%
|
Current Collection Period
|
0.6808
|
%
|
Four Month Average (Current and Prior Three Collection Periods)
|
0.6982
|
%
|
|
Cumulative Loss:
|
Cumulative Realized Loss (Charge-Offs)
|
1,119
|
$
|
7,181,872.47
|
(Cumulative Recoveries)
|
$
|
835,445.96
|
Cumulative Net Loss for All Collection Periods
|
$
|
6,346,426.51
|
Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance
|
0.3691
|
%
|
|
Average Realized Loss for Receivables that have experienced a Realized Loss
|
$
|
6,418.12
|
Average Net Loss for Receivables that have experienced a Realized Loss
|
$
|
5,671.52
|
|
% of EOP Pool Balance
|
# of Receivables
|
Amount
|
Delinquent Receivables:
|
31-60 Days Delinquent
|
1.06
|
%
|
276
|
$
|
10,611,764.30
|
61-90 Days Delinquent
|
0.19
|
%
|
45
|
$
|
1,915,469.39
|
91-120 Days Delinquent
|
0.05
|
%
|
11
|
$
|
453,271.95
|
Over 120 Days Delinquent
|
0.03
|
%
|
6
|
$
|
321,010.65
|
Total Delinquent Receivables
|
1.33
|
%
|
338
|
$
|
13,301,516.29
|
|
Repossession Inventory:
|
Repossessed in the Current Collection Period
|
18
|
$
|
792,229.49
|
Total Repossessed Inventory
|
42
|
$
|
1,852,108.02
|
|
Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables:
|
Second Prior Collection Period
|
0.1655
|
%
|
Prior Collection Period
|
0.1754
|
%
|
Current Collection Period
|
0.1752
|
%
|
Three Month Average
|
0.1720
|
%
|
|
Delinquency Trigger (61+ Delinquent Receivables)
|
Transaction Month
|
Trigger
|
1-12
|
0.80%
|
13-24
|
1.50%
|
25-36
|
2.60%
|
37+
|
4.40%
|
61+ Delinquent Receivables Balance to EOP Pool Balance
|
0.2680
|
%
|
Delinquency Trigger Occurred
|
No
|
Page 4
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
15
|
|
Receivables Granted Extensions in the Current Collection Period:
|
# of Receivables
|
Amount
|
|
1 Month Extended
|
91
|
$3,810,884.47
|
2 Months Extended
|
148
|
$6,027,984.20
|
3+ Months Extended
|
29
|
$951,593.48
|
|
Total Receivables Extended
|
268
|
$10,790,462.15
|
IX. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
|
No Activity to report
|
|
Most Recent Form ABS-15G for repurchase demand activity
|
|
Filed by: Ford Motor Credit Company LLC
|
CIK#: 0000038009
|
Date: February 5, 2024
|
|
X. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
|
Benchmark Transition Event:
|
N/A
|
|
Benchmark Replacement Date:
|
N/A
|
|
Unadjusted Benchmark Replacement:
|
N/A
|
|
Benchmark Replacement Adjustment:
|
N/A
|
|
Benchmark Replacement Conforming Changes:
|
N/A
|
|
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer
Page 5