World Omni Auto Receivables Trust 2023-A

07/29/2024 | Press release | Distributed by Public on 07/29/2024 05:12

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2023-A
Monthly Servicer Certificate
June 30, 2024
Dates Covered
Collections Period 06/01/24 - 06/30/24
Interest Accrual Period 06/17/24 - 07/14/24
30/360 Days 30
Actual/360 Days 28
Distribution Date 07/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 05/31/24 546,279,498.38 29,277
Yield Supplement Overcollateralization Amount 05/31/24 46,863,301.17 0
Receivables Balance 05/31/24 593,142,799.55 29,277
Principal Payments 22,198,024.46 1,192
Defaulted Receivables 781,801.37 33
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 06/30/24 44,436,502.50 0
Pool Balance at 06/30/24 525,726,471.22 28,052
Pool Statistics $ Amount # of Accounts
Pool Factor 51.05 %
Prepayment ABS Speed 1.41 %
Aggregate Starting Principal Balance 1,116,806,264.43 45,522
Delinquent Receivables:
Past Due 31-60 days 8,497,562.91 339
Past Due 61-90 days 2,924,510.43 112
Past Due 91-120 days 388,764.73 17
Past Due 121+ days 0.00 0
Total 11,810,838.07 468
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.07 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.58 %
Delinquency Trigger Occurred NO
Recoveries 613,230.86
Aggregate Net Losses/(Gains) - June 2024 168,570.51
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 0.39 %
Second Prior Net Losses/(Gains) Ratio 0.47 %
Third Prior Net Losses/(Gains) Ratio 0.41 %
Four Month Average 0.40 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.36 %
Overcollateralization Target Amount 5,038,175.22
Actual Overcollateralization 5,038,175.22
Weighted Average Contract Rate 5.75 %
Weighted Average Contract Rate, Yield Adjusted 10.28 %
Weighted Average Remaining Term 47.84
Flow of Funds $ Amount
Collections 25,462,721.76
Investment Earnings on Cash Accounts 25,792.65
Servicing Fee (494,285.67 )
Transfer to Collection Account -
Available Funds 24,994,228.74
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 2,022,528.44
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 126,714.08
(5) Noteholders' Second Priority Principal Distributable Amount 394,851.94
(6) Class C Interest 65,772.00
(7) Noteholders' Third Priority Principal Distributable Amount 15,120,000.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,038,175.22
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 2,226,187.06
Total Distributions of Available Funds 24,994,228.74
Servicing Fee 494,285.67
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 962,280,000.00
Original Class B 30,230,000.00
Original Class C 15,120,000.00
Total Class A, B, & C
Note Balance @ 06/17/24 541,241,323.16
Principal Paid 20,553,027.16
Note Balance @ 07/15/24 520,688,296.00
Class A-1
Note Balance @ 06/17/24 0.00
Principal Paid 0.00
Note Balance @ 07/15/24 0.00
Note Factor @ 07/15/24 0.0000000 %
Class A-2a
Note Balance @ 06/17/24 83,032,689.80
Principal Paid 14,413,463.32
Note Balance @ 07/15/24 68,619,226.48
Note Factor @ 07/15/24 26.5718814 %
Class A-2b
Note Balance @ 06/17/24 35,368,633.36
Principal Paid 6,139,563.84
Note Balance @ 07/15/24 29,229,069.52
Note Factor @ 07/15/24 26.5718814 %
Class A-3
Note Balance @ 06/17/24 279,880,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 279,880,000.00
Note Factor @ 07/15/24 100.0000000 %
Class A-4
Note Balance @ 06/17/24 97,610,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 97,610,000.00
Note Factor @ 07/15/24 100.0000000 %
Class B
Note Balance @ 06/17/24 30,230,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 30,230,000.00
Note Factor @ 07/15/24 100.0000000 %
Class C
Note Balance @ 06/17/24 15,120,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 15,120,000.00
Note Factor @ 07/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 2,215,014.52
Total Principal Paid 20,553,027.16
Total Paid 22,768,041.68
Class A-1
Coupon 4.86700 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.18000 %
Interest Paid 358,424.44
Principal Paid 14,413,463.32
Total Paid to A-2a Holders 14,771,887.76
Class A-2b
SOFR Rate 5.33303 %
Coupon 5.76303 %
Interest Paid 158,534.83
Principal Paid 6,139,563.84
Total Paid to A-2b Holders 6,298,098.67
Class A-3
Coupon 4.83000 %
Interest Paid 1,126,517.00
Principal Paid 0.00
Total Paid to A-3 Holders 1,126,517.00
Class A-4
Coupon 4.66000 %
Interest Paid 379,052.17
Principal Paid 0.00
Total Paid to A-4 Holders 379,052.17
Class B
Coupon 5.03000 %
Interest Paid 126,714.08
Principal Paid 0.00
Total Paid to B Holders 126,714.08
Class C
Coupon 5.22000 %
Interest Paid 65,772.00
Principal Paid 0.00
Total Paid to C Holders 65,772.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 2.1982419
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 20.3973950
Total Distribution Amount 22.5956369
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 1.3879509
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 55.8142167
Total A-2a Distribution Amount 57.2021676
A-2b Interest Distribution Amount 1.4412257
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 55.8142167
Total A-2b Distribution Amount 57.2554424
A-3 Interest Distribution Amount 4.0250000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 4.0250000
A-4 Interest Distribution Amount 3.8833334
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 3.8833334
B Interest Distribution Amount 4.1916666
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 4.1916666
C Interest Distribution Amount 4.3500000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 4.3500000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 19.21
Noteholders' Third Priority Principal Distributable Amount 735.66
Noteholders' Principal Distributable Amount 245.13
Account Balances $ Amount
Reserve Account
Balance as of 06/17/24 5,038,175.22
Investment Earnings 21,716.14
Investment Earnings Paid (21,716.14 )
Deposit/(Withdrawal) -
Balance as of 07/15/24 5,038,175.22
Change -
Required Reserve Amount 5,038,175.22
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 3,698,381.91 4,398,044.38 3,740,346.37
Number of Extensions 124 159 123
Ratio of extensions to Beginning of Period Receivables Balance 0.62 % 0.71 % 0.58 %