I. ORIGINAL DEAL PARAMETERS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cut off Date:
|
|
|
October 9, 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Closing Date:
|
|
November 13, 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dollars
|
|
|
Units
|
|
|
WAC
|
|
|
WARM
|
|
|
|
|
|
Original Pool Balance:
|
|
|
$
|
1,822,501,735.44
|
|
|
|
70,494
|
|
|
|
5.63
|
%
|
|
58.50
|
|
|
|
|
|
Original Adj. Pool Balance:
|
|
|
$
|
1,669,736,114.95
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount
|
|
|
% of Pool
|
|
|
Note Rate
|
|
|
|
|
|
|
Final Payment Date
|
|
Class A-1 Notes
|
Fixed
|
|
|
$
|
293,000,000.00
|
|
|
|
16.077
|
%
|
|
5.63400
|
%
|
|
|
|
|
|
November 15, 2024
|
|
Class A-2-A Notes
|
Fixed
|
|
|
$
|
352,420,000.00
|
|
|
|
19.337
|
%
|
|
5.80000
|
%
|
|
|
|
|
|
January 15, 2027
|
|
Class A-2-B Notes
|
Floating
|
|
|
$
|
275,000,000.00
|
|
|
|
15.089
|
%
|
|
SOFR + 0.63
|
%
|
|
|
|
|
|
January 15, 2027
|
|
Class A-3 Notes
|
Fixed
|
|
|
$
|
552,420,000.00
|
|
|
|
30.311
|
%
|
|
5.54000
|
%
|
|
|
|
|
|
October 16, 2028
|
|
Class A-4 Notes
|
Fixed
|
|
|
$
|
75,000,000.00
|
|
|
|
4.115
|
%
|
|
5.55000
|
%
|
|
|
|
|
|
December 17, 2029
|
|
Class B Notes
|
Fixed
|
|
|
$
|
30,060,000.00
|
|
|
|
1.649
|
%
|
|
6.01000
|
%
|
|
|
|
|
|
December 17, 2029
|
|
Class C Notes
|
Fixed
|
|
|
$
|
50,100,000.00
|
|
|
|
2.749
|
%
|
|
|
6.24000
|
%
|
|
|
|
|
|
June 17, 2030
|
|
Total Securities
|
|
|
$
|
1,628,000,000.00
|
|
|
|
89.328
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization
|
|
|
$
|
41,736,114.95
|
|
|
|
2.290
|
%
|
|
|
|
|
|
|
|
|
|
|
|
YSOA
|
|
|
$
|
152,765,620.49
|
|
|
|
8.382
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Original Pool Balance
|
|
|
$
|
1,822,501,735.44
|
|
|
|
100.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
II. POOL BALANCE AND PORTFOLIO INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Period
|
|
|
Ending of Period
|
|
|
Change
|
|
|
|
|
|
Balance
|
|
|
Note Factor
|
|
|
Balance
|
|
|
Note Factor
|
|
|
|
|
|
Class A-1 Notes
|
|
|
$
|
-
|
|
|
|
-
|
|
|
$
|
-
|
|
|
|
-
|
|
|
$
|
-
|
|
Class A-2-A Notes
|
|
|
$
|
321,465,228.18
|
|
|
|
0.9121651
|
|
|
$
|
297,929,647.45
|
|
|
|
0.8453823
|
|
|
$
|
23,535,580.73
|
|
Class A-2-B Notes
|
|
|
$
|
250,845,405.34
|
|
|
|
0.9121651
|
|
|
$
|
232,480,145.98
|
|
|
|
0.8453823
|
|
|
$
|
18,365,259.36
|
|
Class A-3 Notes
|
|
|
$
|
552,420,000.00
|
|
|
|
1.0000000
|
|
|
$
|
552,420,000.00
|
|
|
|
1.0000000
|
|
|
$
|
-
|
|
Class A-4 Notes
|
|
|
$
|
75,000,000.00
|
|
|
|
1.0000000
|
|
|
$
|
75,000,000.00
|
|
|
|
1.0000000
|
|
|
$
|
-
|
|
Class B Notes
|
|
|
$
|
30,060,000.00
|
|
|
|
1.0000000
|
|
|
$
|
30,060,000.00
|
|
|
|
1.0000000
|
|
|
$
|
-
|
|
Class C Notes
|
|
|
$
|
50,100,000.00
|
|
|
|
1.0000000
|
|
|
$
|
50,100,000.00
|
|
|
|
1.0000000
|
|
|
$
|
-
|
|
Total Securities
|
|
|
$
|
1,279,890,633.52
|
|
|
|
0.7861736
|
|
|
$
|
1,237,989,793.43
|
|
|
|
0.7604360
|
|
|
$
|
41,900,840.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Avg. Coupon (WAC)
|
|
|
5.67
|
%
|
|
|
|
|
|
5.68
|
%
|
|
|
|
|
|
|
|
Weighted Avg. Remaining Maturity (WARM)
|
|
|
51.16
|
|
|
|
|
|
|
|
50.28
|
|
|
|
|
|
|
|
|
|
Pool Receivables Balance
|
|
|
$
|
1,445,616,793.36
|
|
|
|
|
|
|
$
|
1,399,257,715.13
|
|
|
|
|
|
|
|
|
|
Remaining Number of Receivables
|
|
|
64,050
|
|
|
|
|
|
|
|
63,095
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Pool Balance
|
|
|
$
|
1,329,982,716.97
|
|
|
|
|
|
|
$
|
1,288,081,876.88
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
III. COLLECTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal:
|
Principal Collections
|
|
|
$
|
44,460,519.16
|
|
Repurchased Contract Proceeds Related to Principal
|
|
|
$
|
-
|
|
Recoveries/Liquidation Proceeds
|
|
|
$
|
661,953.58
|
|
Total Principal Collections
|
|
|
$
|
45,122,472.74
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest:
|
Interest Collections
|
|
|
$
|
6,752,017.44
|
|
Late Fees & Other Charges
|
|
|
$
|
59,573.58
|
|
Interest on Repurchase Principal
|
|
|
$
|
-
|
|
Total Interest Collections
|
|
|
$
|
6,811,591.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collection Account Interest
|
|
|
$
|
204,568.90
|
|
Reserve Account Interest
|
|
|
$
|
17,918.62
|
|
Servicer Advances
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Collections
|
|
|
$
|
52,156,551.28
|
|
IV. DISTRIBUTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Collections
|
|
$
|
52,156,551.28
|
|
Reserve Account Release
|
|
$
|
-
|
|
Reserve Account Draw
|
|
$
|
-
|
|
Total Available for Distribution
|
|
$
|
52,156,551.28
|
|
|
|
|
|
Amount Due
|
|
|
Interest Pymt Due
but unpaid from prior
periods
|
|
|
Amount Paid
|
|
|
|
|
|
|
1. Servicing Fee @1.00%:
|
Servicing Fee Due
|
1.00
|
%
|
$
|
1,204,680.66
|
|
|
$
|
-
|
|
|
$
|
1,204,680.66
|
|
|
|
|
1,204,680.66
|
|
Collection & Reserve Account Interest
|
|
$
|
222,487.52
|
|
Late Fees & Other Charges
|
|
$
|
59,573.58
|
|
Total due to Servicer
|
|
$
|
1,486,741.76
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2. Class A Noteholders Interest:
|
Class A-1 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
Class A-2-A Notes
|
|
|
$
|
1,553,748.60
|
|
|
|
|
|
|
$
|
1,553,748.60
|
|
|
|
|
|
|
Class A-2-B Notes
|
|
|
$
|
1,163,398.97
|
|
|
|
|
|
|
$
|
1,163,398.97
|
|
|
|
|
|
|
Class A-3 Notes
|
|
|
$
|
2,550,339.00
|
|
|
|
|
|
|
$
|
2,550,339.00
|
|
|
|
|
|
|
Class A-4 Notes
|
|
|
$
|
346,875.00
|
|
|
|
|
|
|
$
|
346,875.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Class A interest:
|
|
|
$
|
5,614,361.57
|
|
|
|
|
|
|
$
|
5,614,361.57
|
|
|
|
|
5,614,361.57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. First Priority Principal Distribution:
|
|
|
$
|
0.00
|
|
|
|
|
|
|
$
|
0.00
|
|
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4. Class B Noteholders Interest:
|
|
|
$
|
150,550.50
|
|
|
|
|
|
|
$
|
150,550.50
|
|
|
|
|
150,550.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5. Second Priority Principal Distribution:
|
|
|
$
|
0.00
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6. Class C Noteholders Interest:
|
|
|
$
|
260,520.00
|
|
|
|
|
|
|
$
|
260,520.00
|
|
|
|
|
260,520.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available Funds Remaining:
|
|
$
|
44,644,377.45
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7. Regular Principal Distribution Amount:
|
|
|
41,900,840.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributable Amount
|
|
|
|
|
|
|
Paid Amount
|
|
|
|
|
|
|
Class A-1 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
Class A-2-A Notes
|
|
|
$
|
23,535,580.73
|
|
|
|
|
|
|
Class A-2-B Notes
|
|
|
$
|
18,365,259.36
|
|
|
|
|
|
|
Class A-3 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
Class A-4 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
Class A Notes Total:
|
|
|
$
|
41,900,840.09
|
|
|
|
|
|
|
$
|
41,900,840.09
|
|
|
|
|
|
|
Class B Notes Total:
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
Class C Notes Total:
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
Total Noteholders Principal
|
|
|
$
|
41,900,840.09
|
|
|
|
|
|
|
$
|
41,900,840.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8. Required Deposit to Reserve Account
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9. Trustee Expenses and Asset Representations Reviewer Expenses
|
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10. Remaining Available Collections Released to Certificateholder
|
|
|
2,743,537.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Period Required Amount
|
|
$
|
115,634,076.39
|
|
Beginning Period Amount
|
|
$
|
115,634,076.39
|
|
Current Period Amortization
|
|
$
|
4,458,238.14
|
|
Ending Period Required Amount
|
|
$
|
111,175,838.25
|
|
Ending Period Amount
|
|
$
|
111,175,838.25
|
|
Next Distribution Date Required Amount
|
|
$
|
106,801,393.76
|
|
VI. RESERVE ACCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.25
|
%
|
Beginning Period Required Amount
|
|
|
$
|
4,174,340.29
|
|
Beginning Period Amount
|
|
|
$
|
4,174,340.29
|
|
Current Period Release to Collection Account
|
|
|
$
|
-
|
|
Current Period Deposit
|
|
|
$
|
-
|
|
Current Period Release to Depositor
|
|
|
$
|
-
|
|
Ending Period Required Amount (0.25% of APB of cut-off date)
|
|
|
$
|
4,174,340.29
|
|
Ending Period Amount
|
|
|
$
|
4,174,340.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
50,092,083.45
|
|
|
$
|
50,092,083.45
|
|
|
$
|
50,092,083.45
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
3.00
|
%
|
|
3.00
|
%
|
|
3.00
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
3.77
|
%
|
|
3.89
|
%
|
|
3.89
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.77
|
%
|
|
62,317
|
|
|
|
98.45
|
%
|
$
|
1,377,549,702.05
|
|
30 - 60 Days
|
|
|
0.95
|
%
|
|
597
|
|
|
|
1.17
|
%
|
$
|
16,400,645.58
|
|
61 - 90 Days
|
|
|
0.23
|
%
|
|
144
|
|
|
|
0.29
|
%
|
$
|
4,059,574.83
|
|
91-120 Days
|
|
|
0.06
|
%
|
|
37
|
|
|
|
0.09
|
%
|
$
|
1,247,792.67
|
|
121 + Days
|
|
|
0.00
|
%
|
|
0
|
|
|
|
0.00
|
%
|
$
|
-
|
|
Total
|
|
|
63,095
|
|
|
|
|
|
|
$
|
1,399,257,715.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.23
|
%
|
|
778
|
|
|
|
1.55
|
%
|
$
|
21,708,013.08
|
|
1st Preceding Collection Period
|
|
|
1.09
|
%
|
|
698
|
|
|
|
1.36
|
%
|
$
|
19,703,288.26
|
|
2nd Preceding Collection Period
|
|
|
1.00
|
%
|
|
647
|
|
|
|
1.27
|
%
|
$
|
18,925,876.19
|
|
3rd Preceding Collection Period
|
|
|
0.93
|
%
|
|
614
|
|
|
|
1.18
|
%
|
$
|
18,192,033.92
|
|
Four-Month Average
|
|
|
1.06
|
%
|
|
|
|
|
|
|
1.34
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.38
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
50
|
|
|
|
|
|
|
$
|
1,602,881.56
|
|
Repossession Inventory
|
|
|
92
|
|
|
|
|
|
|
$
|
2,941,636.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
1,898,559.07
|
|
Recoveries
|
|
|
$
|
(661,953.58
|
)
|
Net Loss
|
|
|
$
|
1,236,605.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
1.03
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
1,422,437,254.25
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
1.04
|
%
|
1st Preceding Collection Period
|
|
|
|
0.66
|
%
|
2nd Preceding Collection Period
|
|
|
|
1.17
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.97
|
%
|
Four-Month Average
|
|
|
|
0.96
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from
prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
77
|
|
|
|
391
|
|
|
$
|
10,023,643.34
|
|
Recoveries
|
|
|
39
|
|
|
|
210
|
|
|
$
|
(2,916,343.66
|
)
|
Net Loss
|
|
|
$
|
7,107,299.68
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.39
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
74
|
|
|
|
374
|
|
|
$
|
7,107,299.68
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
19,003.48
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
6,377,803.91
|
|
Number of Extensions
|
|
|
|
212
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excludes receivables with recovered amounts equal to or in excess of principal charge-offs due to the recovery of assessments, such as interest and fees.
|