World Omni Auto Receivables Trust 2022-B

06/28/2024 | Press release | Distributed by Public on 06/28/2024 05:10

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2022-B

Monthly Servicer Certificate

May 31, 2024

Dates Covered
Collections Period 05/01/24 - 05/31/24
Interest Accrual Period 05/15/24 - 06/16/24
30/360 Days 30
Actual/360 Days 33
Distribution Date 06/17/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 04/30/24 393,383,595.66 22,625
Yield Supplement Overcollateralization Amount 04/30/24 26,987,602.31 0
Receivables Balance 04/30/24 420,371,197.97 22,625
Principal Payments 19,210,692.44 460
Defaulted Receivables 442,667.89 27
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 05/31/24 23,771,107.49 0
Pool Balance at 05/31/24 376,946,730.15 22,138
Pool Statistics $ Amount # of Accounts
Pool Factor 36.97 %
Prepayment ABS Speed 1.25 %
Aggregate Starting Principal Balance 1,083,969,917.66 44,920
Delinquent Receivables:
Past Due 31-60 days 7,558,199.52 306
Past Due 61-90 days 2,139,681.65 86
Past Due 91-120 days 345,556.95 16
Past Due 121+ days 0.00 0
Total 10,043,438.12 408
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.51 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.62 %
Delinquency Trigger Occurred NO
Recoveries 335,131.10
Aggregate Net Losses/(Gains) - May 2024 107,536.79
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.31 %
Prior Net Losses/(Gains) Ratio 0.27 %
Second Prior Net Losses/(Gains) Ratio 0.27 %
Third Prior Net Losses/(Gains) Ratio 1.04 %
Four Month Average 0.47 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.46 %
Overcollateralization Target Amount 4,915,858.40
Actual Overcollateralization 4,915,858.40
Weighted Average Contract Rate 4.40 %
Weighted Average Contract Rate, Yield Adjusted 8.37 %
Weighted Average Remaining Term 40.59
Flow of Funds $ Amount
Collections 21,067,829.91
Investment Earnings on Cash Accounts 24,895.20
Servicing Fee (350,309.33 )
Transfer to Collection Account -
Available Funds 20,742,415.78
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 946,493.71
(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 11,521,007.11
(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 3,226,552.39
Total Distributions of Available Funds 20,742,415.78
Servicing Fee 350,309.33
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 @ 05/15/24 388,467,737.26
Principal Paid 16,436,865.51
Note Balance @ 06/17/24 372,030,871.75
Class A-1
Note Balance @ 05/15/24 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-2a
Note Balance @ 05/15/24 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-2b
Note Balance @ 05/15/24 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-3
Note Balance @ 05/15/24 254,297,737.26
Principal Paid 16,436,865.51
Note Balance @ 06/17/24 237,860,871.75
Note Factor @ 06/17/24 89.4213804 %
Class A-4
Note Balance @ 05/15/24 89,920,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 89,920,000.00
Note Factor @ 06/17/24 100.0000000 %
Class B
Note Balance @ 05/15/24 29,500,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 29,500,000.00
Note Factor @ 06/17/24 100.0000000 %
Class C
Note Balance @ 05/15/24 14,750,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 14,750,000.00
Note Factor @ 06/17/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 1,078,997.88
Total Principal Paid 16,436,865.51
Total Paid 17,515,863.39
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 5.32371 %
Coupon 5.89371 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2b Holders 0.00
Class A-3
Coupon 3.25000 %
Interest Paid 688,723.04
Principal Paid 16,436,865.51
Total Paid to A-3 Holders 17,125,588.55
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 1.0974683
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 16.7182334
Total Distribution Amount 17.8157017
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 2.5891844
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 61.7927275
Total A-3 Distribution Amount 64.3819119
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 700.92
Noteholders' Principal Distributable Amount 299.08
Account Balances $ Amount
Reserve Account
Balance as of 05/15/24 4,915,858.40
Investment Earnings 21,899.02
Investment Earnings Paid (21,899.02 )
Deposit/(Withdrawal) -
Balance as of 06/17/24 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 $ 2,518,686.00 $ 2,989,538.42 3,271,189.11
Number of Extensions 100 122 123
Ratio of extensions to Beginning of Period Receivables Balance 0.60 % 0.68 % 0.71 %