Ford Credit Auto Owner Trust 2022-A
Ford Credit Auto Owner Trust 2022-A
21/11/2024 | Press release | Distributed by Public on 21/11/2024 15:00
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 34 |
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 | $ | 1,146,189,073.03 | 34,997 | 56.9 months | |
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||
| Original Securities: | |||||
| Class A-1 Notes | $ | 182,190,000.00 | 0.23886 | % | February 15, 2023 |
| Class A-2 Notes | $ | 361,420,000.00 | 0.73 | % | September 15, 2024 |
| Class A-3 Notes | $ | 361,420,000.00 | 1.29 | % | June 15, 2026 |
| Class A-4 Notes | $ | 95,040,000.00 | 1.56 | % | May 15, 2027 |
| Class B Notes | $ | 31,560,000.00 | 1.91 | % | July 15, 2027 |
| Class C Notes | $ | 21,020,000.00 | 2.14 | % | July 15, 2029 |
| Total | $ | 1,052,650,000.00 | |||
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 629,277.87 |
| Principal: | ||
| Principal Collections | $ | 11,316,276.21 |
| Prepayments in Full | $ | 4,753,391.20 |
| Liquidation Proceeds | $ | 104,303.21 |
| Recoveries | $ | 36,593.50 |
| Sub Total | $ | 16,210,564.12 |
| Collections | $ | 16,839,841.99 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 0.00 |
| Purchase Amounts Related to Interest | $ | 0.00 |
| Sub Total | $ | 0.00 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 16,839,841.99 |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 34 |
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 | $ | 16,839,841.99 |
| Servicing Fee | $ | 242,015.51 | $ | 242,015.51 | $ | 0.00 | $ | 0.00 | $ | 16,597,826.48 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 16,597,826.48 |
| Interest - Class A-2 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 16,597,826.48 |
| Interest - Class A-3 Notes | $ | 108,052.47 | $ | 108,052.47 | $ | 0.00 | $ | 0.00 | $ | 16,489,774.01 |
| Interest - Class A-4 Notes | $ | 123,552.00 | $ | 123,552.00 | $ | 0.00 | $ | 0.00 | $ | 16,366,222.01 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 16,366,222.01 |
| Interest - Class B Notes | $ | 50,233.00 | $ | 50,233.00 | $ | 0.00 | $ | 0.00 | $ | 16,315,989.01 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 16,315,989.01 |
| Interest - Class C Notes | $ | 37,485.67 | $ | 37,485.67 | $ | 0.00 | $ | 0.00 | $ | 16,278,503.34 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 16,278,503.34 |
| Regular Principal Payment | $ | 14,828,973.03 | $ | 14,828,973.03 | $ | 0.00 | $ | 0.00 | $ | 1,449,530.31 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,449,530.31 |
| Residual Released to Depositor | $ | 0.00 | $ | 1,449,530.31 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 16,839,841.99 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 14,828,973.03 | ||||||||
| Total | $ | 14,828,973.03 |
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-2 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-3 Notes | $ | 14,828,973.03 | $ | 41.03 | $ | 108,052.47 | $ | 0.30 | $ | 14,937,025.50 | $ | 41.33 |
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 123,552.00 | $ | 1.30 | $ | 123,552.00 | $ | 1.30 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 50,233.00 | $ | 1.59 | $ | 50,233.00 | $ | 1.59 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 37,485.67 | $ | 1.78 | $ | 37,485.67 | $ | 1.78 |
| Total | $ | 14,828,973.03 | $ | 14.09 | $ | 319,323.14 | $ | 0.30 | $ | 15,148,296.17 | $ | 14.39 |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 34 |
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-2 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-3 Notes | $ | 100,513,921.06 | 0.2781084 | $ | 85,684,948.03 | 0.2370786 |
| Class A-4 Notes | $ | 95,040,000.00 | 1.0000000 | $ | 95,040,000.00 | 1.0000000 |
| Class B Notes | $ | 31,560,000.00 | 1.0000000 | $ | 31,560,000.00 | 1.0000000 |
| Class C Notes | $ | 21,020,000.00 | 1.0000000 | $ | 21,020,000.00 | 1.0000000 |
| Total | $ | 248,133,921.06 | 0.2357231 | $ | 233,304,948.03 | 0.2216358 |
| Pool Information | ||||
| Weighted Average APR | 2.614 | % | 2.619 | % |
| Weighted Average Remaining Term | 30.01 | 29.26 | ||
| Number of Receivables Outstanding | 17,154 | 16,568 | ||
| Pool Balance | $ | 290,418,613.72 | $ | 274,055,202.31 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 270,911,740.41 | $ | 255,837,316.20 |
| Pool Factor | 0.2533776 | 0.2391012 |
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 2,631,648.59 |
| Yield Supplement Overcollateralization Amount | $ | 18,217,886.11 |
| Targeted Overcollateralization Amount | $ | 40,750,254.28 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 40,750,254.28 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 2,631,648.59 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 2,631,648.59 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 2,631,648.59 |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 34 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 46 | $ | 189,440.79 | ||
| (Recoveries) | 47 | $ | 36,593.50 | ||
| Net Loss for Current Collection Period | $ | 152,847.29 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.6316% | ||||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | (0.0180) | % | |||
| Second Prior Collection Period | 0.4624 | % | |||
| Prior Collection Period | 0.5454 | % | |||
| Current Collection Period | 0.6499 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.4099 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 1,233 | $ | 5,031,719.64 | ||
| (Cumulative Recoveries) | $ | 1,187,547.64 | |||
| Cumulative Net Loss for All Collection Periods | $ | 3,844,172.00 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.3354 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 4,080.88 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,117.74 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 1.50 | % | 178 | $ | 4,108,544.67 |
| 61-90 Days Delinquent | 0.20 | % | 26 | $ | 535,232.32 |
| 91-120 Days Delinquent | 0.07 | % | 6 | $ | 197,928.55 |
| Over 120 Days Delinquent | 0.13 | % | 12 | $ | 344,818.83 |
| Total Delinquent Receivables | 1.89 | % | 222 | $ | 5,186,524.37 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 6 | $ | 210,922.37 | ||
| Total Repossessed Inventory | 12 | $ | 388,409.56 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.2088 | % | |||
| Prior Collection Period | 0.2682 | % | |||
| Current Collection Period | 0.2656 | % | |||
| Three Month Average | 0.2475 | % | |||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||
| Transaction Month | Trigger | ||||
| 1-12 | 0.80% | ||||
| 13-24 | 1.50% | ||||
| 25-36 | 2.70% | ||||
| 37+ | 4.40% | ||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.3933 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 34 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 47 | $1,158,178.27 |
| 2 Months Extended | 81 | $1,872,553.94 |
| 3+ Months Extended | 18 | $319,433.74 |
| Total Receivables Extended | 146 | $3,350,165.95 |
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 |
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer
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