World Omni Auto Receivables Trust 2022-C
09/27/2024 | Press release | Distributed by Public on 09/27/2024 05:33
Asset Backed Issuer Distribution Report Form 10 D
World Omni Auto Receivables Trust 2022-C
Monthly Servicer Certificate
August 31, 2024
| Dates Covered | ||||||||||
| Collections Period | 08/01/24 - 08/31/24 | |||||||||
| Interest Accrual Period | 08/15/24 - 09/15/24 | |||||||||
| 30/360 Days | 30 | |||||||||
| Actual/360 Days | 32 | |||||||||
| Distribution Date | 09/16/24 | |||||||||
| Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||
| Pool Balance at 07/31/24 | 417,017,094.51 | 23,359 | ||||||||
| Yield Supplement Overcollateralization Amount 07/31/24 | 29,089,019.19 | 0 | ||||||||
| Receivables Balance 07/31/24 | 446,106,113.70 | 23,359 | ||||||||
| Principal Payments | 18,138,280.17 | 419 | ||||||||
| Defaulted Receivables | 868,117.70 | 37 | ||||||||
| Repurchased Accounts | 0.00 | 0 | ||||||||
| Yield Supplement Overcollateralization Amount at 08/31/24 | 27,322,077.40 | 0 | ||||||||
| Pool Balance at 08/31/24 | 399,777,638.43 | 22,903 | ||||||||
| Pool Statistics | $ Amount | # of Accounts | ||||||||
| Pool Factor | 38.02 | % | ||||||||
| Prepayment ABS Speed | 1.27 | % | ||||||||
| Aggregate Starting Principal Balance | 1,123,484,105.00 | 42,981 | ||||||||
| Delinquent Receivables: | ||||||||||
| Past Due 31-60 days | 7,751,334.25 | 300 | ||||||||
| Past Due 61-90 days | 3,305,932.52 | 127 | ||||||||
| Past Due 91-120 days | 555,423.40 | 23 | ||||||||
| Past Due 121+ days | 0.00 | 0 | ||||||||
| Total | 11,612,690.17 | 450 | ||||||||
| Total 31+ Delinquent as % Aggregate Ending Principal Balance | 2.72 | % | ||||||||
| Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.90 | % | ||||||||
| Delinquency Trigger Occurred | NO | |||||||||
| Recoveries | 511,717.02 | |||||||||
| Aggregate Net Losses/(Gains) - August 2024 | 356,400.68 | |||||||||
| Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||
| Current Net Losses/(Gains) Ratio | 0.96 | % | ||||||||
| Prior Net Losses/(Gains) Ratio | 0.41 | % | ||||||||
| Second Prior Net Losses/(Gains) Ratio | 0.12 | % | ||||||||
| Third Prior Net Losses/(Gains) Ratio | -0.30 | % | ||||||||
| Four Month Average | 0.30 | % | ||||||||
| Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.52 | % | ||||||||
| Overcollateralization Target Amount | 5,081,353.05 | |||||||||
| Actual Overcollateralization | 5,081,353.05 | |||||||||
| Weighted Average Contract Rate | 4.61 | % | ||||||||
| Weighted Average Contract Rate, Yield Adjusted | 8.79 | % | ||||||||
| Weighted Average Remaining Term | 41.14 | |||||||||
| Flow of Funds | $ Amount | |||||||||
| Collections | 20,378,770.06 | |||||||||
| Investment Earnings on Cash Accounts | 25,700.13 | |||||||||
| Servicing Fee | (371,755.09 | ) | ||||||||
| Transfer to Collection Account | - | |||||||||
| Available Funds | 20,032,715.10 | |||||||||
| Distributions of Available Funds | ||||||||||
| (1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||
| (2) Class A Interest | 1,120,201.60 | |||||||||
| (3) Noteholders' First Priority Principal Distributable Amount | - | |||||||||
| (4) Class B Interest | 103,442.92 | |||||||||
| (5) Noteholders' Second Priority Principal Distributable Amount | - | |||||||||
| (6) Class C Interest | 55,350.58 | |||||||||
| (7) Noteholders' Third Priority Principal Distributable Amount | 12,158,103.03 | |||||||||
| (8) Required Reserve Account | - | |||||||||
| (9) Noteholders' Principal Distributable Amount | 5,081,353.05 | |||||||||
| (10) Asset Representation Reviewer Amounts (in excess of 1) | - | |||||||||
| (11) Distribution to Certificateholders | 1,514,263.92 | |||||||||
| Total Distributions of Available Funds | 20,032,715.10 | |||||||||
| Servicing Fee | 371,755.09 | |||||||||
| Unpaid Servicing Fee | - | |||||||||
| Change in amount of the unpaid servicing fee from the prior period | - |
| Note Balances & Note Factors | $ Amount | |||||||||
| Original Class A | 966,300,000.00 | |||||||||
| Original Class B | 30,350,000.00 | |||||||||
| Original Class C | 15,130,000.00 | |||||||||
| Total Class A, B, & C | ||||||||||
| Note Balance @ 08/15/24 | 411,935,741.46 | |||||||||
| Principal Paid | 17,239,456.08 | |||||||||
| Note Balance @ 09/16/24 | 394,696,285.38 | |||||||||
| Class A-1 | ||||||||||
| Note Balance @ 08/15/24 | 0.00 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Note Balance @ 09/16/24 | 0.00 | |||||||||
| Note Factor @ 09/16/24 | 0.0000000 | % | ||||||||
| Class A-2 | ||||||||||
| Note Balance @ 08/15/24 | 14,855,741.46 | |||||||||
| Principal Paid | 14,855,741.46 | |||||||||
| Note Balance @ 09/16/24 | 0.00 | |||||||||
| Note Factor @ 09/16/24 | 0.0000000 | % | ||||||||
| Class A-3 | ||||||||||
| Note Balance @ 08/15/24 | 252,900,000.00 | |||||||||
| Principal Paid | 2,383,714.62 | |||||||||
| Note Balance @ 09/16/24 | 250,516,285.38 | |||||||||
| Note Factor @ 09/16/24 | 99.0574478 | % | ||||||||
| Class A-4 | ||||||||||
| Note Balance @ 08/15/24 | 98,700,000.00 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Note Balance @ 09/16/24 | 98,700,000.00 | |||||||||
| Note Factor @ 09/16/24 | 100.0000000 | % | ||||||||
| Class B | ||||||||||
| Note Balance @ 08/15/24 | 30,350,000.00 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Note Balance @ 09/16/24 | 30,350,000.00 | |||||||||
| Note Factor @ 09/16/24 | 100.0000000 | % | ||||||||
| Class C | ||||||||||
| Note Balance @ 08/15/24 | 15,130,000.00 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Note Balance @ 09/16/24 | 15,130,000.00 | |||||||||
| Note Factor @ 09/16/24 | 100.0000000 | % | ||||||||
| Interest & Principal Payments | $ Amount | |||||||||
| Total Interest Paid | 1,278,995.10 | |||||||||
| Total Principal Paid | 17,239,456.08 | |||||||||
| Total Paid | 18,518,451.18 | |||||||||
| Class A-1 | ||||||||||
| Coupon | 2.96900 | % | ||||||||
| Interest Paid | 0.00 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Total Paid to A-1 Holders | 0.00 | |||||||||
| Class A-2 | ||||||||||
| Coupon | 3.73000 | % | ||||||||
| Interest Paid | 46,176.60 | |||||||||
| Principal Paid | 14,855,741.46 | |||||||||
| Total Paid to A-2 Holders | 14,901,918.06 | |||||||||
| Class A-3 | ||||||||||
| Coupon | 3.66000 | % | ||||||||
| Interest Paid | 771,345.00 | |||||||||
| Principal Paid | 2,383,714.62 | |||||||||
| Total Paid to A-3 Holders | 3,155,059.62 | |||||||||
| Class A-4 | ||||||||||
| Coupon | 3.68000 | % | ||||||||
| Interest Paid | 302,680.00 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Total Paid to A-4 Holders | 302,680.00 | |||||||||
| Class B | ||||||||||
| Coupon | 4.09000 | % | ||||||||
| Interest Paid | 103,442.92 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Total Paid to B Holders | 103,442.92 | |||||||||
| Class C | ||||||||||
| Coupon | 4.39000 | % | ||||||||
| Interest Paid | 55,350.58 | |||||||||
| Principal Paid | 0.00 | |||||||||
| Total Paid to C Holders | 55,350.58 |
| Distribution per $1,000 of Notes | Total | |||||||||
| Total Interest Distribution Amount | 1.2641040 | |||||||||
| Total Interest Carryover Shortfall | 0.0000000 | |||||||||
| Total Principal Distribution Amount | 17.0387397 | |||||||||
| Total Distribution Amount | 18.3028437 | |||||||||
| 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-2 Interest Distribution Amount | 0.1141008 | |||||||||
| A-2 Interest Carryover Shortfall | 0.0000000 | |||||||||
| A-2 Principal Distribution Amount | 36.7080342 | |||||||||
| Total A-2 Distribution Amount | 36.8221350 | |||||||||
| A-3 Interest Distribution Amount | 3.0500000 | |||||||||
| A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||
| A-3 Principal Distribution Amount | 9.4255224 | |||||||||
| Total A-3 Distribution Amount | 12.4755224 | |||||||||
| A-4 Interest Distribution Amount | 3.0666667 | |||||||||
| A-4 Interest Carryover Shortfall | 0.0000000 | |||||||||
| A-4 Principal Distribution Amount | 0.0000000 | |||||||||
| Total A-4 Distribution Amount | 3.0666667 | |||||||||
| B Interest Distribution Amount | 3.4083334 | |||||||||
| B Interest Carryover Shortfall | 0.0000000 | |||||||||
| B Principal Distribution Amount | 0.0000000 | |||||||||
| Total B Distribution Amount | 3.4083334 | |||||||||
| C Interest Distribution Amount | 3.6583331 | |||||||||
| C Interest Carryover Shortfall | 0.0000000 | |||||||||
| C Principal Distribution Amount | 0.0000000 | |||||||||
| Total C Distribution Amount | 3.6583331 | |||||||||
| Noteholders' First Priority Principal Distributable Amount | 0.00 | |||||||||
| Noteholders' Second Priority Principal Distributable Amount | 0.00 | |||||||||
| Noteholders' Third Priority Principal Distributable Amount | 705.25 | |||||||||
| Noteholders' Principal Distributable Amount | 294.75 | |||||||||
| Account Balances | $ Amount | |||||||||
| Reserve Account | ||||||||||
| Balance as of 08/15/24 | 5,058,901.50 | |||||||||
| Investment Earnings | 22,520.29 | |||||||||
| Investment Earnings Paid | (22,520.29 | ) | ||||||||
| Deposit/(Withdrawal) | - | |||||||||
| Balance as of 09/16/24 | 5,058,901.50 | |||||||||
| Change | - | |||||||||
| Required Reserve Amount | 5,058,901.50 | |||||||||
| Other Servicing Information | Current Month | Prior Month | Two Months Prior | |||||||
| Principal Balance of Receivables extended during the Collection Period | $ | 3,377,169.14 | $ | 3,589,679.64 | $ | 3,648,997.96 | ||||
| Number of Extensions | 136 | 139 | 136 | |||||||
| Ratio of extensions to Beginning of Period Receivables Balance | 0.76 | % | 0.77 | % | 0.75 | % |