Ford Credit Auto Owner Trust 2022-A
09/20/2024 | Press release | Distributed by Public on 09/20/2024 08:11
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 32 |
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 | $ | 1,146,189,073.03 | 34,997 | 56.9 months | |
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||
| Original Securities: | |||||
| Class A-1 Notes | $ | 182,190,000.00 | 0.23886 | % | February 15, 2023 |
| Class A-2 Notes | $ | 361,420,000.00 | 0.73 | % | September 15, 2024 |
| Class A-3 Notes | $ | 361,420,000.00 | 1.29 | % | June 15, 2026 |
| Class A-4 Notes | $ | 95,040,000.00 | 1.56 | % | May 15, 2027 |
| Class B Notes | $ | 31,560,000.00 | 1.91 | % | July 15, 2027 |
| Class C Notes | $ | 21,020,000.00 | 2.14 | % | July 15, 2029 |
| Total | $ | 1,052,650,000.00 | |||
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 709,195.68 |
| Principal: | ||
| Principal Collections | $ | 11,958,161.93 |
| Prepayments in Full | $ | 4,951,217.14 |
| Liquidation Proceeds | $ | 155,161.81 |
| Recoveries | $ | 56,472.12 |
| Sub Total | $ | 17,121,013.00 |
| Collections | $ | 17,830,208.68 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 77,044.28 |
| Purchase Amounts Related to Interest | $ | 185.54 |
| Sub Total | $ | 77,229.82 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 17,907,438.50 |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 32 |
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 | $ | 17,907,438.50 |
| Servicing Fee | $ | 270,461.99 | $ | 270,461.99 | $ | 0.00 | $ | 0.00 | $ | 17,636,976.51 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 17,636,976.51 |
| Interest - Class A-2 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 17,636,976.51 |
| Interest - Class A-3 Notes | $ | 141,254.04 | $ | 141,254.04 | $ | 0.00 | $ | 0.00 | $ | 17,495,722.47 |
| Interest - Class A-4 Notes | $ | 123,552.00 | $ | 123,552.00 | $ | 0.00 | $ | 0.00 | $ | 17,372,170.47 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 17,372,170.47 |
| Interest - Class B Notes | $ | 50,233.00 | $ | 50,233.00 | $ | 0.00 | $ | 0.00 | $ | 17,321,937.47 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 17,321,937.47 |
| Interest - Class C Notes | $ | 37,485.67 | $ | 37,485.67 | $ | 0.00 | $ | 0.00 | $ | 17,284,451.80 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 17,284,451.80 |
| Regular Principal Payment | $ | 15,663,625.33 | $ | 15,663,625.33 | $ | 0.00 | $ | 0.00 | $ | 1,620,826.47 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,620,826.47 |
| Residual Released to Depositor | $ | 0.00 | $ | 1,620,826.47 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 17,907,438.50 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 15,663,625.33 | ||||||||
| Total | $ | 15,663,625.33 |
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-2 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-3 Notes | $ | 15,663,625.33 | $ | 43.34 | $ | 141,254.04 | $ | 0.39 | $ | 15,804,879.37 | $ | 43.73 |
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 123,552.00 | $ | 1.30 | $ | 123,552.00 | $ | 1.30 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 50,233.00 | $ | 1.59 | $ | 50,233.00 | $ | 1.59 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 37,485.67 | $ | 1.78 | $ | 37,485.67 | $ | 1.78 |
| Total | $ | 15,663,625.33 | $ | 14.88 | $ | 352,524.71 | $ | 0.33 | $ | 16,016,150.04 | $ | 15.21 |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 32 |
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-2 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-3 Notes | $ | 131,399,107.79 | 0.3635635 | $ | 115,735,482.46 | 0.3202243 |
| Class A-4 Notes | $ | 95,040,000.00 | 1.0000000 | $ | 95,040,000.00 | 1.0000000 |
| Class B Notes | $ | 31,560,000.00 | 1.0000000 | $ | 31,560,000.00 | 1.0000000 |
| Class C Notes | $ | 21,020,000.00 | 1.0000000 | $ | 21,020,000.00 | 1.0000000 |
| Total | $ | 279,019,107.79 | 0.2650635 | $ | 263,355,482.46 | 0.2501833 |
| Pool Information | ||||
| Weighted Average APR | 2.605 | % | 2.609 | % |
| Weighted Average Remaining Term | 31.56 | 30.78 | ||
| Number of Receivables Outstanding | 18,253 | 17,721 | ||
| Pool Balance | $ | 324,554,383.60 | $ | 307,234,604.71 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 302,308,963.68 | $ | 286,385,541.67 |
| Pool Factor | 0.2831596 | 0.2680488 |
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 2,631,648.59 |
| Yield Supplement Overcollateralization Amount | $ | 20,849,063.04 |
| Targeted Overcollateralization Amount | $ | 43,879,122.25 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 43,879,122.25 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 2,631,648.59 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 2,631,648.59 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 2,631,648.59 |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 32 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 40 | $ | 178,193.73 | ||
| (Recoveries) | 36 | $ | 56,472.12 | ||
| Net Loss for Current Collection Period | $ | 121,721.61 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.4501% | ||||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.0665 | % | |||
| Second Prior Collection Period | 0.2022 | % | |||
| Prior Collection Period | (0.0180) | % | |||
| Current Collection Period | 0.4624 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.1783 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 1,149 | $ | 4,692,425.87 | ||
| (Cumulative Recoveries) | $ | 1,136,920.95 | |||
| Cumulative Net Loss for All Collection Periods | $ | 3,555,504.92 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.3102 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 4,083.92 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,094.43 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 1.24 | % | 174 | $ | 3,810,164.05 |
| 61-90 Days Delinquent | 0.19 | % | 24 | $ | 596,061.28 |
| 91-120 Days Delinquent | 0.02 | % | 3 | $ | 74,640.90 |
| Over 120 Days Delinquent | 0.11 | % | 10 | $ | 326,242.96 |
| Total Delinquent Receivables | 1.56 | % | 211 | $ | 4,807,109.19 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 9 | $ | 264,665.13 | ||
| Total Repossessed Inventory | 12 | $ | 425,547.95 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.1598 | % | |||
| Prior Collection Period | 0.2356 | % | |||
| Current Collection Period | 0.2088 | % | |||
| Three Month Average | 0.2014 | % | |||
| 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 | 0.3245 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 32 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 57 | $1,402,775.38 |
| 2 Months Extended | 86 | $2,075,608.87 |
| 3+ Months Extended | 15 | $373,314.01 |
| Total Receivables Extended | 158 | $3,851,698.26 |
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 |
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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