World Omni Auto Receivables Trust 2023-D

06/28/2024 | Press release | Distributed by Public on 06/28/2024 05:26

Asset Backed Issuer Distribution Report Form 10 D

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 %