World Omni Auto Receivables Trust 2022-C

10/29/2024 | Press release | Distributed by Public on 10/29/2024 05:08

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2022-C
Monthly Servicer Certificate
September 30, 2024
Dates Covered
Collections Period 09/01/24 - 09/30/24
Interest Accrual Period 09/16/24 - 10/14/24
30/360 Days 30
Actual/360 Days 29
Distribution Date 10/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 08/31/24 399,777,638.43 22,903
Yield Supplement Overcollateralization Amount 08/31/24 27,322,077.40 0
Receivables Balance 08/31/24 427,099,715.83 22,903
Principal Payments 18,235,629.75 435
Defaulted Receivables 653,826.08 30
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 09/30/24 25,609,414.75 0
Pool Balance at 09/30/24 382,600,845.25 22,438
Pool Statistics $ Amount # of Accounts
Pool Factor 36.33 %
Prepayment ABS Speed 1.29 %
Aggregate Starting Principal Balance 1,123,484,105.00 42,981
Delinquent Receivables:
Past Due 31-60 days 8,159,744.46 322
Past Due 61-90 days 2,730,440.35 105
Past Due 91-120 days 663,690.27 29
Past Due 121+ days 0.00 0
Total 11,553,875.08 456
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.83 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.83 %
Delinquency Trigger Occurred NO
Recoveries 431,512.78
Aggregate Net Losses/(Gains) - September 2024 222,313.30
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.62 %
Prior Net Losses/(Gains) Ratio 0.96 %
Second Prior Net Losses/(Gains) Ratio 0.41 %
Third Prior Net Losses/(Gains) Ratio 0.12 %
Four Month Average 0.53 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.54 %
Overcollateralization Target Amount 5,081,353.05
Actual Overcollateralization 5,081,353.05
Weighted Average Contract Rate 4.63 %
Weighted Average Contract Rate, Yield Adjusted 8.79 %
Weighted Average Remaining Term 40.34
Flow of Funds $ Amount
Collections 20,306,915.35
Investment Earnings on Cash Accounts 23,881.70
Servicing Fee (355,916.43 )
Transfer to Collection Account -
Available Funds 19,974,880.62
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 1,066,754.67
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 103,442.92
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 55,350.58
(7) Noteholders' Third Priority Principal Distributable Amount 12,095,440.13
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,081,353.05
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 1,572,539.27
Total Distributions of Available Funds 19,974,880.62
Servicing Fee 355,916.43
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 966,300,000.00
Original Class B 30,350,000.00
Original Class C 15,130,000.00
Total Class A, B, & C
Note Balance @ 09/16/24 394,696,285.38
Principal Paid 17,176,793.18
Note Balance @ 10/15/24 377,519,492.20
Class A-1
Note Balance @ 09/16/24 0.00
Principal Paid 0.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class A-2
Note Balance @ 09/16/24 0.00
Principal Paid 0.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class A-3
Note Balance @ 09/16/24 250,516,285.38
Principal Paid 17,176,793.18
Note Balance @ 10/15/24 233,339,492.20
Note Factor @ 10/15/24 92.2655169 %
Class A-4
Note Balance @ 09/16/24 98,700,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 98,700,000.00
Note Factor @ 10/15/24 100.0000000 %
Class B
Note Balance @ 09/16/24 30,350,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 30,350,000.00
Note Factor @ 10/15/24 100.0000000 %
Class C
Note Balance @ 09/16/24 15,130,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 15,130,000.00
Note Factor @ 10/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 1,225,548.17
Total Principal Paid 17,176,793.18
Total Paid 18,402,341.35
Class A-1
Coupon 2.96900 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 3.73000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 3.66000 %
Interest Paid 764,074.67
Principal Paid 17,176,793.18
Total Paid to A-3 Holders 17,940,867.85
Class A-4
Coupon 3.68000 %
Interest Paid 302,680.00
Principal Paid 0.00
Total Paid to A-4 Holders 302,680.00
Class B
Coupon 4.09000 %
Interest Paid 103,442.92
Principal Paid 0.00
Total Paid to B Holders 103,442.92
Class C
Coupon 4.39000 %
Interest Paid 55,350.58
Principal Paid 0.00
Total Paid to C Holders 55,350.58
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 1.2112793
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 16.9768064
Total Distribution Amount 18.1880857
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-2 Interest Distribution Amount 0.0000000
A-2 Interest Carryover Shortfall 0.0000000
A-2 Principal Distribution Amount 0.0000000
Total A-2 Distribution Amount 0.0000000
A-3 Interest Distribution Amount 3.0212522
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 67.9193087
Total A-3 Distribution Amount 70.9405609
A-4 Interest Distribution Amount 3.0666667
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 3.0666667
B Interest Distribution Amount 3.4083334
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 3.4083334
C Interest Distribution Amount 3.6583331
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 3.6583331
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 704.17
Noteholders' Principal Distributable Amount 295.83
Account Balances $ Amount
Reserve Account
Balance as of 09/16/24 5,058,901.50
Investment Earnings 20,956.19
Investment Earnings Paid (20,956.19 )
Deposit/(Withdrawal) -
Balance as of 10/15/24 5,058,901.50
Change -
Required Reserve Amount 5,058,901.50
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 2,929,331.51 $ 3,377,169.14 $ 3,589,679.64
Number of Extensions 119 136 139
Ratio of extensions to Beginning of Period Receivables Balance 0.69 % 0.76 % 0.77 %