06/28/2024 | Press release | Distributed by Public on 06/28/2024 05:26
World Omni Auto Receivables Trust 2023-D
Monthly Servicer Certificate
May 31, 2024
Dates Covered | ||||||||||||
Collections Period | 05/01/24 - 05/31/24 | |||||||||||
Interest Accrual Period | 05/15/24 - 06/16/24 | |||||||||||
30/360 Days | 30 | |||||||||||
Actual/360 Days | 33 | |||||||||||
Distribution Date | 06/17/24 | |||||||||||
Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||||
Pool Balance at 04/30/24 | 806,768,824.00 | 37,550 | ||||||||||
Yield Supplement Overcollateralization Amount 04/30/24 | 85,695,858.72 | 0 | ||||||||||
Receivables Balance 04/30/24 | 892,464,682.72 | 37,550 | ||||||||||
Principal Payments | 33,136,304.45 | 1,016 | ||||||||||
Defaulted Receivables | 1,226,621.92 | 45 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 05/31/24 | 81,278,479.12 | 0 | ||||||||||
Pool Balance at 05/31/24 | 776,823,277.23 | 36,489 | ||||||||||
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 76.66 | % | ||||||||||
Prepayment ABS Speed | 1.73 | % | ||||||||||
Aggregate Starting Principal Balance | 1,119,368,245.46 | 42,446 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 6,967,750.89 | 267 | ||||||||||
Past Due 61-90 days | 1,875,767.25 | 73 | ||||||||||
Past Due 91-120 days | 284,727.78 | 17 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 9,128,245.92 | 357 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 1.06 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.25 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 745,824.11 | |||||||||||
Aggregate Net Losses/(Gains) - May 2024 | 480,797.81 | |||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | 0.65 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | 0.44 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | 0.49 | % | ||||||||||
Third Prior Net Losses/(Gains) Ratio | 0.56 | % | ||||||||||
Four Month Average | 0.54 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.19 | % | ||||||||||
Overcollateralization Target Amount | 8,933,467.69 | |||||||||||
Actual Overcollateralization | 8,933,467.69 | |||||||||||
Weighted Average Contract Rate | 6.20 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 11.22 | % | ||||||||||
Weighted Average Remaining Term | 53.73 | |||||||||||
Flow of Funds | $ Amount | |||||||||||
Collections | 38,456,346.84 | |||||||||||
Investment Earnings on Cash Accounts | 16,597.25 | |||||||||||
Servicing Fee | (743,720.57 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 37,729,223.52 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||||
(2) Class A Interest | 3,761,554.41 | |||||||||||
(3) Noteholders' First Priority Principal Distributable Amount | - | |||||||||||
(4) Class B Interest | 153,556.50 | |||||||||||
(5) Noteholders' Second Priority Principal Distributable Amount | 5,647,705.29 | |||||||||||
(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 | 8,933,467.69 | |||||||||||
(10) Asset Representation Reviewer Amounts (in excess of 1) | - | |||||||||||
(11) Distribution to Certificateholders | 4,134,460.13 | |||||||||||
Total Distributions of Available Funds | 37,729,223.52 | |||||||||||
Servicing Fee | 743,720.57 | |||||||||||
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 @ 05/15/24 | 797,490,982.52 | |||||||||||
Principal Paid | 29,601,172.98 | |||||||||||
Note Balance @ 06/17/24 | 767,889,809.54 | |||||||||||
Class A-1 | ||||||||||||
Note Balance @ 05/15/24 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 0.00 | |||||||||||
Note Factor @ 06/17/24 | 0.0000000 | % | ||||||||||
Class A-2a | ||||||||||||
Note Balance @ 05/15/24 | 186,525,491.26 | |||||||||||
Principal Paid | 14,800,586.49 | |||||||||||
Note Balance @ 06/17/24 | 171,724,904.77 | |||||||||||
Note Factor @ 06/17/24 | 90.9078374 | % | ||||||||||
Class A-2b | ||||||||||||
Note Balance @ 05/15/24 | 186,525,491.26 | |||||||||||
Principal Paid | 14,800,586.49 | |||||||||||
Note Balance @ 06/17/24 | 171,724,904.77 | |||||||||||
Note Factor @ 06/17/24 | 90.9078374 | % | ||||||||||
Class A-3 | ||||||||||||
Note Balance @ 05/15/24 | 317,800,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 317,800,000.00 | |||||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 05/15/24 | 61,560,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 61,560,000.00 | |||||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 05/15/24 | 30,060,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 30,060,000.00 | |||||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 05/15/24 | 15,020,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 15,020,000.00 | |||||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||||
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 3,993,590.41 | |||||||||||
Total Principal Paid | 29,601,172.98 | |||||||||||
Total Paid | 33,594,763.39 | |||||||||||
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 | 918,638.04 | |||||||||||
Principal Paid | 14,800,586.49 | |||||||||||
Total Paid to A-2a Holders | 15,719,224.53 | |||||||||||
Class A-2b | ||||||||||||
SOFR Rate | 5.32371 | % | ||||||||||
Coupon | 5.90371 | % | ||||||||||
Interest Paid | 1,009,426.37 | |||||||||||
Principal Paid | 14,800,586.49 | |||||||||||
Total Paid to A-2b Holders | 15,810,012.86 | |||||||||||
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 | 3.9962279 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 29.6207227 | |||||||||||
Total Distribution Amount | 33.6169506 | |||||||||||
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 | 4.8630918 | |||||||||||
A-2a Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-2a Principal Distribution Amount | 78.3514372 | |||||||||||
Total A-2a Distribution Amount | 83.2145290 | |||||||||||
A-2b Interest Distribution Amount | 5.3437076 | |||||||||||
A-2b Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-2b Principal Distribution Amount | 78.3514372 | |||||||||||
Total A-2b Distribution Amount | 83.6951448 | |||||||||||
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 | 0.00 | |||||||||||
Noteholders' Second Priority Principal Distributable Amount | 190.79 | |||||||||||
Noteholders' Third Priority Principal Distributable Amount | 507.41 | |||||||||||
Noteholders' Principal Distributable Amount | 301.80 | |||||||||||
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 05/15/24 | 2,504,634.24 | |||||||||||
Investment Earnings | 11,157.57 | |||||||||||
Investment Earnings Paid | (11,157.57 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 06/17/24 | 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 | $ | 5,208,512.13 | 4,479,185.38 | 4,969,377.45 | ||||||||
Number of Extensions | 159 | 146 | 151 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.58 | % | 0.48 | % | 0.52 | % |