Ford Credit Auto Owner Trust 2022-B
11/21/2024 | Press release | Distributed by Public on 11/21/2024 08:14
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 29 |
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 | $ | 1,173,418,193.47 | 36,914 | 54.4 months | ||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | ||||
| Original Securities | ||||||
| Class A-1 Notes | $ | 203,160,000.00 | 2.038 | % | July 15, 2023 | |
| Class A-2a Notes | $ | 271,020,000.00 | 3.44 | % | February 15, 2025 | |
| Class A-2b Notes | $ | 100,000,000.00 | 5.60981 | % | * | February 15, 2025 |
| Class A-3 Notes | $ | 321,020,000.00 | 3.74 | % | September 15, 2026 | |
| Class A-4 Notes | $ | 104,800,000.00 | 3.93 | % | August 15, 2027 | |
| Class B Notes | $ | 31,580,000.00 | 4.51 | % | October 15, 2027 | |
| Class C Notes | $ | 21,050,000.00 | 4.85 | % | December 15, 2029 | |
| Total | $ | 1,052,630,000.00 | ||||
| * 30-day average SOFR + 0.60% |
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 907,367.57 |
| Principal: | ||
| Principal Collections | $ | 13,514,246.12 |
| Prepayments in Full | $ | 5,804,774.05 |
| Liquidation Proceeds | $ | 299,525.79 |
| Recoveries | $ | 80,138.32 |
| Sub Total | $ | 19,698,684.28 |
| Collections | $ | 20,606,051.85 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 35,003.17 |
| Purchase Amounts Related to Interest | $ | 220.06 |
| Sub Total | $ | 35,223.23 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 20,641,275.08 |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 29 |
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 | $ | 20,641,275.08 |
| Servicing Fee | $ | 303,950.71 | $ | 303,950.71 | $ | 0.00 | $ | 0.00 | $ | 20,337,324.37 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 20,337,324.37 |
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 20,337,324.37 |
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 20,337,324.37 |
| Interest - Class A-3 Notes | $ | 471,109.52 | $ | 471,109.52 | $ | 0.00 | $ | 0.00 | $ | 19,866,214.85 |
| Interest - Class A-4 Notes | $ | 343,220.00 | $ | 343,220.00 | $ | 0.00 | $ | 0.00 | $ | 19,522,994.85 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 19,522,994.85 |
| Interest - Class B Notes | $ | 118,688.17 | $ | 118,688.17 | $ | 0.00 | $ | 0.00 | $ | 19,404,306.68 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 19,404,306.68 |
| Interest - Class C Notes | $ | 85,077.08 | $ | 85,077.08 | $ | 0.00 | $ | 0.00 | $ | 19,319,229.60 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 19,319,229.60 |
| Regular Principal Payment | $ | 17,629,679.21 | $ | 17,629,679.21 | $ | 0.00 | $ | 0.00 | $ | 1,689,550.39 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,689,550.39 |
| Residual Released to Depositor | $ | 0.00 | $ | 1,689,550.39 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 20,641,275.08 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 17,629,679.21 | ||||||||
| Total | $ | 17,629,679.21 | ||||||||
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-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-3 Notes | $ | 17,629,679.21 | $ | 54.92 | $ | 471,109.52 | $ | 1.47 | $ | 18,100,788.73 | $ | 56.39 |
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 343,220.00 | $ | 3.28 | $ | 343,220.00 | $ | 3.28 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 118,688.17 | $ | 3.76 | $ | 118,688.17 | $ | 3.76 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 85,077.08 | $ | 4.04 | $ | 85,077.08 | $ | 4.04 |
| Total | $ | 17,629,679.21 | $ | 16.75 | $ | 1,018,094.77 | $ | 0.97 | $ | 18,647,773.98 | $ | 17.72 |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 29 |
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-2a Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-2b Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-3 Notes | $ | 151,158,134.13 | 0.4708683 | $ | 133,528,454.92 | 0.4159506 |
| Class A-4 Notes | $ | 104,800,000.00 | 1.0000000 | $ | 104,800,000.00 | 1.0000000 |
| Class B Notes | $ | 31,580,000.00 | 1.0000000 | $ | 31,580,000.00 | 1.0000000 |
| Class C Notes | $ | 21,050,000.00 | 1.0000000 | $ | 21,050,000.00 | 1.0000000 |
| Total | $ | 308,588,134.13 | 0.2931592 | $ | 290,958,454.92 | 0.2764109 |
| Pool Information | ||||
| Weighted Average APR | 3.000 | % | 3.010 | % |
| Weighted Average Remaining Term | 32.03 | 31.28 | ||
| Number of Receivables Outstanding | 19,643 | 19,033 | ||
| Pool Balance | $ | 364,740,848.20 | $ | 344,805,214.80 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 332,480,301.97 | $ | 314,551,588.26 |
| Pool Factor | 0.3108362 | 0.2938468 | ||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 2,631,579.30 |
| Yield Supplement Overcollateralization Amount | $ | 30,253,626.54 |
| Targeted Overcollateralization Amount | $ | 53,846,759.88 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 53,846,759.88 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 2,631,579.30 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 2,631,579.30 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 2,631,579.30 |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 29 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 56 | $ | 282,084.27 | ||
| (Recoveries) | 44 | $ | 80,138.32 | ||
| Net Loss for Current Collection Period | $ | 201,945.95 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.6644 | % | |||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.4196 | % | |||
| Second Prior Collection Period | 0.3957 | % | |||
| Prior Collection Period | 0.2383 | % | |||
| Current Collection Period | 0.6831 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.4342 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 1,261 | $ | 5,603,628.37 | ||
| (Cumulative Recoveries) | $ | 1,254,226.88 | |||
| Cumulative Net Loss for All Collection Periods | $ | 4,349,401.49 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.3707 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 4,443.80 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,449.17 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 1.36 | % | 193 | $ | 4,698,099.68 |
| 61-90 Days Delinquent | 0.23 | % | 32 | $ | 810,029.61 |
| 91-120 Days Delinquent | 0.09 | % | 10 | $ | 311,195.62 |
| Over 120 Days Delinquent | 0.18 | % | 17 | $ | 615,384.78 |
| Total Delinquent Receivables | 1.87 | % | 252 | $ | 6,434,709.69 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 11 | $ | 315,188.10 | ||
| Total Repossessed Inventory | 19 | $ | 567,292.73 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.2325 | % | |||
| Prior Collection Period | 0.3105 | % | |||
| Current Collection Period | 0.3100 | % | |||
| Three Month Average | 0.2843 | % | |||
| 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 | 0.5036 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 29 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 62 | $1,639,894.00 |
| 2 Months Extended | 131 | $3,425,927.62 |
| 3+ Months Extended | 21 | $625,306.32 |
| Total Receivables Extended | 214 | $5,691,127.94 |
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 |
X. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
| Benchmark Transition Event: | N/A |
| Benchmark Replacement Date: | N/A |
| Unadjusted Benchmark Replacement: | N/A |
| Benchmark Replacement Adjustment: | N/A |
| Benchmark Replacement Conforming Changes: | N/A |
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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