World Omni Auto Receivables Trust 2023-D

07/29/2024 | Press release | Distributed by Public on 07/29/2024 05:14

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2023-D
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 05/31/24 776,823,277.23 36,489
Yield Supplement Overcollateralization Amount 05/31/24 81,278,479.12 0
Receivables Balance 05/31/24 858,101,756.35 36,489
Principal Payments 30,807,514.66 802
Defaulted Receivables 1,012,906.57 37
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 06/30/24 77,251,347.14 0
Pool Balance at 06/30/24 749,029,987.98 35,650
Pool Statistics $ Amount # of Accounts
Pool Factor 73.82 %
Prepayment ABS Speed 1.61 %
Aggregate Starting Principal Balance 1,119,368,245.46 42,446
Delinquent Receivables:
Past Due 31-60 days 8,384,026.96 323
Past Due 61-90 days 2,136,231.49 76
Past Due 91-120 days 303,203.61 20
Past Due 121+ days 0.00 0
Total 10,823,462.06 419
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.31 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.30 %
Delinquency Trigger Occurred NO
Recoveries 679,300.00
Aggregate Net Losses/(Gains) - June 2024 333,606.57
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.47 %
Prior Net Losses/(Gains) Ratio 0.65 %
Second Prior Net Losses/(Gains) Ratio 0.44 %
Third Prior Net Losses/(Gains) Ratio 0.49 %
Four Month Average 0.51 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.22 %
Overcollateralization Target Amount 8,613,844.86
Actual Overcollateralization 8,613,844.86
Weighted Average Contract Rate 6.20 %
Weighted Average Contract Rate, Yield Adjusted 11.22 %
Weighted Average Remaining Term 53.00
Flow of Funds $ Amount
Collections 35,716,199.60
Investment Earnings on Cash Accounts 16,320.65
Servicing Fee (715,084.80 )
Transfer to Collection Account -
Available Funds 35,017,435.45
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 3,469,002.00
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 153,556.50
(5) Noteholders' Second Priority Principal Distributable Amount 3,839,821.56
(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 8,613,844.86
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 3,842,731.03
Total Distributions of Available Funds 35,017,435.45
Servicing Fee 715,084.80
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 @ 06/17/24 767,889,809.54
Principal Paid 27,473,666.42
Note Balance @ 07/15/24 740,416,143.12
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 @ 06/17/24 171,724,904.77
Principal Paid 13,736,833.21
Note Balance @ 07/15/24 157,988,071.56
Note Factor @ 07/15/24 83.6358240 %
Class A-2b
Note Balance @ 06/17/24 171,724,904.77
Principal Paid 13,736,833.21
Note Balance @ 07/15/24 157,988,071.56
Note Factor @ 07/15/24 83.6358240 %
Class A-3
Note Balance @ 06/17/24 317,800,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 317,800,000.00
Note Factor @ 07/15/24 100.0000000 %
Class A-4
Note Balance @ 06/17/24 61,560,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 61,560,000.00
Note Factor @ 07/15/24 100.0000000 %
Class B
Note Balance @ 06/17/24 30,060,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 30,060,000.00
Note Factor @ 07/15/24 100.0000000 %
Class C
Note Balance @ 06/17/24 15,020,000.00
Principal Paid 0.00
Note Balance @ 07/15/24 15,020,000.00
Note Factor @ 07/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 3,701,038.00
Total Principal Paid 27,473,666.42
Total Paid 31,174,704.42
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 845,745.16
Principal Paid 13,736,833.21
Total Paid to A-2a Holders 14,582,578.37
Class A-2b
SOFR Rate 5.33303 %
Coupon 5.91303 %
Interest Paid 789,766.84
Principal Paid 13,736,833.21
Total Paid to A-2b Holders 14,526,600.05
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 3.7034823
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 27.4918110
Total Distribution Amount 31.1952933
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 4.4772110
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 72.7201335
Total A-2a Distribution Amount 77.1973445
A-2b Interest Distribution Amount 4.1808726
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 72.7201335
Total A-2b Distribution Amount 76.9010061
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 7.00
Noteholders' Second Priority Principal Distributable Amount 139.76
Noteholders' Third Priority Principal Distributable Amount 546.71
Noteholders' Principal Distributable Amount 313.53
Account Balances $ Amount
Reserve Account
Balance as of 06/17/24 2,504,634.24
Investment Earnings 10,795.77
Investment Earnings Paid (10,795.77 )
Deposit/(Withdrawal) -
Balance as of 07/15/24 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 $ 5,464,961.22 5,208,512.13 4,479,185.38
Number of Extensions 171 159 146
Ratio of extensions to Beginning of Period Receivables Balance 0.64 % 0.58 % 0.48 %