World Omni Auto Receivables Trust 2022-B

11/27/2024 | Press release | Distributed by Public on 11/27/2024 06:11

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2022-B

Monthly Servicer Certificate

October 31, 2024

Dates Covered
Collections Period 10/01/24 - 10/31/24
Interest Accrual Period 10/15/24 - 11/14/24
30/360 Days 30
Actual/360 Days 31
Distribution Date 11/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 09/30/24 314,929,165.59 20,274
Yield Supplement Overcollateralization Amount 09/30/24 18,190,533.82 0
Receivables Balance 09/30/24 333,119,699.41 20,274
Principal Payments 15,634,734.66 389
Defaulted Receivables 646,455.56 26
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 10/31/24 16,954,718.52 0
Pool Balance at 10/31/24 299,883,790.67 19,859
Pool Statistics $ Amount # of Accounts
Pool Factor 29.23 %
Prepayment ABS Speed 1.28 %
Aggregate Starting Principal Balance 1,083,969,917.66 44,920
Delinquent Receivables:
Past Due 31-60 days 7,129,521.64 323
Past Due 61-90 days 2,510,317.39 111
Past Due 91-120 days 468,254.26 24
Past Due 121+ days 0.00 0
Total 10,108,093.29 458
Total 31+ Delinquent as % Aggregate Ending Principal Balance 3.19 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.94 %
Delinquency Trigger Occurred NO
Recoveries 522,109.28
Aggregate Net Losses/(Gains) - October 2024 124,346.28
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.45 %
Prior Net Losses/(Gains) Ratio 0.99 %
Second Prior Net Losses/(Gains) Ratio 0.28 %
Third Prior Net Losses/(Gains) Ratio 0.39 %
Four Month Average 0.53 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.53 %
Overcollateralization Target Amount 4,915,858.40
Actual Overcollateralization 4,915,858.40
Weighted Average Contract Rate 4.50 %
Weighted Average Contract Rate, Yield Adjusted 8.36 %
Weighted Average Remaining Term 36.75
Flow of Funds $ Amount
Collections 17,389,399.18
Investment Earnings on Cash Accounts 22,063.91
Servicing Fee (277,599.75 )
Transfer to Collection Account -
Available Funds 17,133,863.34
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 734,012.96
(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 10,129,516.52
(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 1,221,971.29
Total Distributions of Available Funds 17,133,863.34
Servicing Fee 277,599.75
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 @ 10/15/24 310,013,307.19
Principal Paid 15,045,374.92
Note Balance @ 11/15/24 294,967,932.27
Class A-1
Note Balance @ 10/15/24 0.00
Principal Paid 0.00
Note Balance @ 11/15/24 0.00
Note Factor @ 11/15/24 0.0000000 %
Class A-2a
Note Balance @ 10/15/24 0.00
Principal Paid 0.00
Note Balance @ 11/15/24 0.00
Note Factor @ 11/15/24 0.0000000 %
Class A-2b
Note Balance @ 10/15/24 0.00
Principal Paid 0.00
Note Balance @ 11/15/24 0.00
Note Factor @ 11/15/24 0.0000000 %
Class A-3
Note Balance @ 10/15/24 175,843,307.19
Principal Paid 15,045,374.92
Note Balance @ 11/15/24 160,797,932.27
Note Factor @ 11/15/24 60.4503505 %
Class A-4
Note Balance @ 10/15/24 89,920,000.00
Principal Paid 0.00
Note Balance @ 11/15/24 89,920,000.00
Note Factor @ 11/15/24 100.0000000 %
Class B
Note Balance @ 10/15/24 29,500,000.00
Principal Paid 0.00
Note Balance @ 11/15/24 29,500,000.00
Note Factor @ 11/15/24 100.0000000 %
Class C
Note Balance @ 10/15/24 14,750,000.00
Principal Paid 0.00
Note Balance @ 11/15/24 14,750,000.00
Note Factor @ 11/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 866,517.13
Total Principal Paid 15,045,374.92
Total Paid 15,911,892.05
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 5.00981 %
Coupon 5.57981 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2b Holders 0.00
Class A-3
Coupon 3.25000 %
Interest Paid 476,242.29
Principal Paid 15,045,374.92
Total Paid to A-3 Holders 15,521,617.21
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 0.8813503
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 15.3029231
Total Distribution Amount 16.1842734
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 1.7903845
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 56.5615598
Total A-3 Distribution Amount 58.3519443
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 673.26
Noteholders' Principal Distributable Amount 326.74
Account Balances $ Amount
Reserve Account
Balance as of 10/15/24 4,915,858.40
Investment Earnings 19,787.33
Investment Earnings Paid (19,787.33 )
Deposit/(Withdrawal) -
Balance as of 11/15/24 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 $ 5,541,317.09 $ 2,448,567.47 2,530,955.70
Number of Extensions 252 103 112
Ratio of extensions to Beginning of Period Receivables Balance 1.66 % 0.70 % 0.69 %