Ford Credit Auto Owner Trust 2024-B
12/18/2024 | Press release | Distributed by Public on 12/18/2024 09:00
Asset Backed Issuer Distribution Report (Form 10 D)
Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | November 2024 |
| Payment Date | 12/16/2024 |
| Transaction Month | 6 |
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 | $1,999,478,618.95 | 53,438 | 57.0 months | |||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | ||||
| Original Securities | ||||||
| Class A-1 Notes | $ | 350,000,000.00 | 5.507 | % | July 15, 2025 | |
| Class A-2a Notes | $ | 323,350,000.00 | 5.40 | % | April 15, 2027 | |
| Class A-2b Notes | $ | 330,000,000.00 | 5.20563 | % | * | April 15, 2027 |
| Class A-3 Notes | $ | 653,300,000.00 | 5.10 | % | April 15, 2029 | |
| Class A-4 Notes | $ | 93,350,000.00 | 4.96 | % | May 15, 2030 | |
| Class B Notes | $ | 55,260,000.00 | 5.23 | % | May 15, 2030 | |
| Class C Notes | $ | 36,830,000.00 | 0.00 | % | December 15, 2031 | |
| Total | $ | 1,842,090,000.00 | ||||
| * 30-day average SOFR + 0.40% |
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 6,410,278.64 |
| Principal: | ||
| Principal Collections | $ | 35,697,157.08 |
| Prepayments in Full | $ | 15,418,345.11 |
| Liquidation Proceeds | $ | 449,470.24 |
| Recoveries | $ | 8,827.53 |
| Sub Total | $ | 51,573,799.96 |
| Collections | $ | 57,984,078.60 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 87,291.68 |
| Purchase Amounts Related to Interest | $ | 544.60 |
| Sub Total | $ | 87,836.28 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $58,071,914.88 |
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | November 2024 |
| Payment Date | 12/16/2024 |
| Transaction Month | 6 |
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 | $ | 58,071,914.88 |
| Servicing Fee | $ | 1,427,075.46 | $ | 1,427,075.46 | $ | 0.00 | $ | 0.00 | $ | 56,644,839.42 |
| Interest - Class A-1 Notes | $ | 335,482.46 | $ | 335,482.46 | $ | 0.00 | $ | 0.00 | $ | 56,309,356.96 |
| Interest - Class A-2a Notes | $ | 1,455,075.00 | $ | 1,455,075.00 | $ | 0.00 | $ | 0.00 | $ | 54,854,281.96 |
| Interest - Class A-2b Notes | $ | 1,479,266.53 | $ | 1,479,266.53 | $ | 0.00 | $ | 0.00 | $ | 53,375,015.43 |
| Interest - Class A-3 Notes | $ | 2,776,525.00 | $ | 2,776,525.00 | $ | 0.00 | $ | 0.00 | $ | 50,598,490.43 |
| Interest - Class A-4 Notes | $ | 385,846.67 | $ | 385,846.67 | $ | 0.00 | $ | 0.00 | $ | 50,212,643.76 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 50,212,643.76 |
| Interest - Class B Notes | $ | 240,841.50 | $ | 240,841.50 | $ | 0.00 | $ | 0.00 | $ | 49,971,802.26 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 49,971,802.26 |
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 49,971,802.26 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 49,971,802.26 |
| Regular Principal Payment | $ | 70,744,966.84 | $ | 49,971,802.26 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Residual Released to Depositor | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 58,071,914.88 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 49,971,802.26 | ||||||||
| Total | $ | 49,971,802.26 | ||||||||
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 | $ | 49,971,802.26 | $ | 142.78 | $ | 335,482.46 | $ | 0.96 | $ | 50,307,284.72 | $ | 143.74 |
| Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 1,455,075.00 | $ | 4.50 | $ | 1,455,075.00 | $ | 4.50 |
| Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 1,479,266.53 | $ | 4.48 | $ | 1,479,266.53 | $ | 4.48 |
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 2,776,525.00 | $ | 4.25 | $ | 2,776,525.00 | $ | 4.25 |
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 385,846.67 | $ | 4.13 | $ | 385,846.67 | $ | 4.13 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 240,841.50 | $ | 4.36 | $ | 240,841.50 | $ | 4.36 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 49,971,802.26 | $ | 27.13 | $ | 6,673,037.16 | $ | 3.62 | $ | 56,644,839.42 | $ | 30.75 |
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | November 2024 |
| Payment Date | 12/16/2024 |
| Transaction Month | 6 |
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | |||||
| Balance | Note Factor | Balance | Note Factor | |||
| Class A-1 Notes | $ | 70,744,966.84 | 0.2021285 | $ | 20,773,164.58 | 0.0593519 |
| Class A-2a Notes | $ | 323,350,000.00 | 1.0000000 | $ | 323,350,000.00 | 1.0000000 |
| Class A-2b Notes | $ | 330,000,000.00 | 1.0000000 | $ | 330,000,000.00 | 1.0000000 |
| Class A-3 Notes | $ | 653,300,000.00 | 1.0000000 | $ | 653,300,000.00 | 1.0000000 |
| Class A-4 Notes | $ | 93,350,000.00 | 1.0000000 | $ | 93,350,000.00 | 1.0000000 |
| Class B Notes | $ | 55,260,000.00 | 1.0000000 | $ | 55,260,000.00 | 1.0000000 |
| Class C Notes | $ | 36,830,000.00 | 1.0000000 | $ | 36,830,000.00 | 1.0000000 |
| Total | $ | 1,562,834,966.84 | 0.8484032 | $ | 1,512,863,164.58 | 0.8212754 |
| Pool Information | ||||
| Weighted Average APR | 4.674 | % | 4.676 | % |
| Weighted Average Remaining Term | 53.08 | 52.30 | ||
| Number of Receivables Outstanding | 48,613 | 47,756 | ||
| Pool Balance | $ | 1,712,490,553.08 | $ | 1,660,388,078.51 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,580,932,005.63 | $ | 1,533,679,408.09 |
| Pool Factor | 0.8564685 | 0.8304105 | ||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 4,605,247.03 |
| Yield Supplement Overcollateralization Amount | $ | 126,708,670.42 |
| Targeted Overcollateralization Amount | $ | 163,550,646.69 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 147,524,913.93 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 4,605,247.03 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 4,605,247.03 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 4,605,247.03 |
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | November 2024 |
| Payment Date | 12/16/2024 |
| Transaction Month | 6 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 82 | $ | 450,210.46 | ||
| (Recoveries) | 5 | $ | 8,827.53 | ||
| Net Loss for Current Collection Period | $ | 441,382.93 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.3093 | % | |||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.1587 | % | |||
| Second Prior Collection Period | 0.1242 | % | |||
| Prior Collection Period | 0.2928 | % | |||
| Current Collection Period | 0.3141 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.2224 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 433 | $ | 1,434,224.67 | ||
| (Cumulative Recoveries) | $ | 9,212.53 | |||
| Cumulative Net Loss for All Collection Periods | $ | 1,425,012.14 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.0713 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 3,312.30 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,291.02 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 0.55 | % | 224 | $ | 9,071,651.93 |
| 61-90 Days Delinquent | 0.11 | % | 39 | $ | 1,791,726.63 |
| 91-120 Days Delinquent | 0.01 | % | 5 | $ | 177,768.38 |
| Over 120 Days Delinquent | 0.01 | % | 4 | $ | 235,616.84 |
| Total Delinquent Receivables | 0.68 | % | 272 | $ | 11,276,763.78 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 18 | $ | 833,950.07 | ||
| Total Repossessed Inventory | 30 | $ | 1,349,661.53 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.0564 | % | |||
| Prior Collection Period | 0.0926 | % | |||
| Current Collection Period | 0.1005 | % | |||
| Three Month Average | 0.0832 | % | |||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||
| Transaction Month | Trigger | ||||
| 1-12 | 0.80% | ||||
| 13-24 | 1.30% | ||||
| 25-36 | 2.40% | ||||
| 37+ | 4.75% | ||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.1328 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | November 2024 |
| Payment Date | 12/16/2024 |
| Transaction Month | 6 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 127 | $5,704,366.55 |
| 2 Months Extended | 229 | $10,431,023.51 |
| 3+ Months Extended | 42 | $1,988,266.72 |
| Total Receivables Extended | 398 | $18,123,656.78 |
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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