World Omni Auto Receivables Trust 2023-D

09/27/2024 | Press release | Distributed by Public on 09/27/2024 05:52

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2023-D
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 07/31/24 720,164,574.23 34,871
Yield Supplement Overcollateralization Amount 07/31/24 73,141,396.86 0
Receivables Balance 07/31/24 793,305,971.09 34,871
Principal Payments 30,231,370.40 706
Defaulted Receivables 1,110,858.17 30
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 08/31/24 69,314,408.60 0
Pool Balance at 08/31/24 692,649,333.92 34,135
Pool Statistics $ Amount # of Accounts
Pool Factor 68.07 %
Prepayment ABS Speed 1.66 %
Aggregate Starting Principal Balance 1,119,368,245.46 42,446
Delinquent Receivables:
Past Due 31-60 days 7,435,705.91 296
Past Due 61-90 days 2,802,822.53 104
Past Due 91-120 days 530,800.24 19
Past Due 121+ days 0.00 0
Total 10,769,328.68 419
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.41 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.44 %
Delinquency Trigger Occurred NO
Recoveries 883,157.63
Aggregate Net Losses/(Gains) - August 2024 227,700.54
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.34 %
Prior Net Losses/(Gains) Ratio 0.22 %
Second Prior Net Losses/(Gains) Ratio 0.47 %
Third Prior Net Losses/(Gains) Ratio 0.65 %
Four Month Average 0.42 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.26 %
Overcollateralization Target Amount 7,965,467.34
Actual Overcollateralization 7,965,467.34
Weighted Average Contract Rate 6.21 %
Weighted Average Contract Rate, Yield Adjusted 11.22 %
Weighted Average Remaining Term 51.47
Flow of Funds $ Amount
Collections 35,246,664.34
Investment Earnings on Cash Accounts 16,485.77
Servicing Fee (661,088.31 )
Transfer to Collection Account -
Available Funds 34,602,061.80
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 3,299,339.72
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 153,556.50
(5) Noteholders' Second Priority Principal Distributable Amount 4,213,347.71
(6) Class C Interest 78,479.50
(7) Noteholders' Third Priority Principal Distributable Amount 15,020,000.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 7,965,467.34
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 3,871,871.03
Total Distributions of Available Funds 34,602,061.80
Servicing Fee 661,088.31
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 954,260,000.00
Original Class B 30,060,000.00
Original Class C 15,020,000.00
Total Class A, B, & C
Note Balance @ 08/15/24 711,882,681.63
Principal Paid 27,198,815.05
Note Balance @ 09/16/24 684,683,866.58
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 @ 08/15/24 143,721,340.81
Principal Paid 13,599,407.53
Note Balance @ 09/16/24 130,121,933.28
Note Factor @ 09/16/24 68.8840303 %
Class A-2b
Note Balance @ 08/15/24 143,721,340.82
Principal Paid 13,599,407.52
Note Balance @ 09/16/24 130,121,933.30
Note Factor @ 09/16/24 68.8840303 %
Class A-3
Note Balance @ 08/15/24 317,800,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 317,800,000.00
Note Factor @ 09/16/24 100.0000000 %
Class A-4
Note Balance @ 08/15/24 61,560,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 61,560,000.00
Note Factor @ 09/16/24 100.0000000 %
Class B
Note Balance @ 08/15/24 30,060,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 30,060,000.00
Note Factor @ 09/16/24 100.0000000 %
Class C
Note Balance @ 08/15/24 15,020,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 15,020,000.00
Note Factor @ 09/16/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 3,531,375.72
Total Principal Paid 27,198,815.05
Total Paid 30,730,190.77
Class A-1
Coupon 5.66800 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.91000 %
Interest Paid 707,827.60
Principal Paid 13,599,407.53
Total Paid to A-2a Holders 14,307,235.13
Class A-2b
SOFR Rate 5.35353 %
Coupon 5.93353 %
Interest Paid 758,022.12
Principal Paid 13,599,407.52
Total Paid to A-2b Holders 14,357,429.64
Class A-3
Coupon 5.79000 %
Interest Paid 1,533,385.00
Principal Paid 0.00
Total Paid to A-3 Holders 1,533,385.00
Class A-4
Coupon 5.85000 %
Interest Paid 300,105.00
Principal Paid 0.00
Total Paid to A-4 Holders 300,105.00
Class B
Coupon 6.13000 %
Interest Paid 153,556.50
Principal Paid 0.00
Total Paid to B Holders 153,556.50
Class C
Coupon 6.27000 %
Interest Paid 78,479.50
Principal Paid 0.00
Total Paid to C Holders 78,479.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 3.5337080
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 27.2167781
Total Distribution Amount 30.7504861
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 3.7471022
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 71.9926285
Total A-2a Distribution Amount 75.7397307
A-2b Interest Distribution Amount 4.0128222
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 71.9926285
Total A-2b Distribution Amount 76.0054507
A-3 Interest Distribution Amount 4.8250000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 4.8250000
A-4 Interest Distribution Amount 4.8750000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 4.8750000
B Interest Distribution Amount 5.1083333
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 5.1083333
C Interest Distribution Amount 5.2250000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 5.2250000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 154.91
Noteholders' Third Priority Principal Distributable Amount 552.23
Noteholders' Principal Distributable Amount 292.86
Account Balances $ Amount
Reserve Account
Balance as of 08/15/24 2,504,634.24
Investment Earnings 11,149.67
Investment Earnings Paid (11,149.67 )
Deposit/(Withdrawal) -
Balance as of 09/16/24 2,504,634.24
Change -
Required Reserve Amount 2,504,634.24
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 4,874,426.51 6,724,899.27 5,464,961.22
Number of Extensions 178 214 171
Ratio of extensions to Beginning of Period Receivables Balance 0.61 % 0.81 % 0.64 %