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