World Omni Auto Receivables Trust 2023-A

10/29/2024 | Press release | Distributed by Public on 10/29/2024 05:12

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2023-A
Monthly Servicer Certificate
September 30, 2024
Dates Covered
Collections Period 09/01/24 - 09/30/24
Interest Accrual Period 09/16/24 - 10/14/24
30/360 Days 30
Actual/360 Days 29
Distribution Date 10/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 08/31/24 482,502,250.67 25,082
Yield Supplement Overcollateralization Amount 08/31/24 39,509,320.86 0
Receivables Balance 08/31/24 522,011,571.53 25,082
Principal Payments 21,448,896.47 1,182
Defaulted Receivables 715,460.91 36
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 09/30/24 37,217,937.23 0
Pool Balance at 09/30/24 462,629,276.92 23,864
Pool Statistics $ Amount # of Accounts
Pool Factor 44.76 %
Prepayment ABS Speed 1.45 %
Aggregate Starting Principal Balance 1,116,806,264.43 45,522
Delinquent Receivables:
Past Due 31-60 days 7,800,421.81 317
Past Due 61-90 days 2,609,357.86 93
Past Due 91-120 days 778,264.32 25
Past Due 121+ days 0.00 0
Total 11,188,043.99 435
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.24 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.68 %
Delinquency Trigger Occurred NO
Recoveries 430,939.35
Aggregate Net Losses/(Gains) - September 2024 284,521.56
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 0.46 %
Second Prior Net Losses/(Gains) Ratio 0.39 %
Third Prior Net Losses/(Gains) Ratio 0.34 %
Four Month Average 0.46 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.42 %
Overcollateralization Target Amount 5,038,175.22
Actual Overcollateralization 5,038,175.22
Weighted Average Contract Rate 5.77 %
Weighted Average Contract Rate, Yield Adjusted 10.28 %
Weighted Average Remaining Term 45.57
Flow of Funds $ Amount
Collections 24,379,823.98
Investment Earnings on Cash Accounts 24,591.97
Servicing Fee (435,009.64 )
Transfer to Collection Account -
Available Funds 23,969,406.31
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 1,746,797.64
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 126,714.08
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 65,772.00
(7) Noteholders' Third Priority Principal Distributable Amount 14,834,798.53
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,038,175.22
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 2,157,148.84
Total Distributions of Available Funds 23,969,406.31
Servicing Fee 435,009.64
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 962,280,000.00
Original Class B 30,230,000.00
Original Class C 15,120,000.00
Total Class A, B, & C
Note Balance @ 09/16/24 477,464,075.45
Principal Paid 19,872,973.75
Note Balance @ 10/15/24 457,591,101.70
Class A-1
Note Balance @ 09/16/24 0.00
Principal Paid 0.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class A-2a
Note Balance @ 09/16/24 38,306,868.47
Principal Paid 13,936,554.26
Note Balance @ 10/15/24 24,370,314.21
Note Factor @ 10/15/24 9.4370795 %
Class A-2b
Note Balance @ 09/16/24 16,317,206.98
Principal Paid 5,936,419.49
Note Balance @ 10/15/24 10,380,787.49
Note Factor @ 10/15/24 9.4370795 %
Class A-3
Note Balance @ 09/16/24 279,880,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 279,880,000.00
Note Factor @ 10/15/24 100.0000000 %
Class A-4
Note Balance @ 09/16/24 97,610,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 97,610,000.00
Note Factor @ 10/15/24 100.0000000 %
Class B
Note Balance @ 09/16/24 30,230,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 30,230,000.00
Note Factor @ 10/15/24 100.0000000 %
Class C
Note Balance @ 09/16/24 15,120,000.00
Principal Paid 0.00
Note Balance @ 10/15/24 15,120,000.00
Note Factor @ 10/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 1,939,283.72
Total Principal Paid 19,872,973.75
Total Paid 21,812,257.47
Class A-1
Coupon 4.86700 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 5.18000 %
Interest Paid 165,357.98
Principal Paid 13,936,554.26
Total Paid to A-2a Holders 14,101,912.24
Class A-2b
SOFR Rate 5.34207 %
Coupon 5.77207 %
Interest Paid 75,870.49
Principal Paid 5,936,419.49
Total Paid to A-2b Holders 6,012,289.98
Class A-3
Coupon 4.83000 %
Interest Paid 1,126,517.00
Principal Paid 0.00
Total Paid to A-3 Holders 1,126,517.00
Class A-4
Coupon 4.66000 %
Interest Paid 379,052.17
Principal Paid 0.00
Total Paid to A-4 Holders 379,052.17
Class B
Coupon 5.03000 %
Interest Paid 126,714.08
Principal Paid 0.00
Total Paid to B Holders 126,714.08
Class C
Coupon 5.22000 %
Interest Paid 65,772.00
Principal Paid 0.00
Total Paid to C Holders 65,772.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 1.9245990
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 19.7224911
Total Distribution Amount 21.6470901
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 0.6403268
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 53.9674499
Total A-2a Distribution Amount 54.6077767
A-2b Interest Distribution Amount 0.6897317
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 53.9674499
Total A-2b Distribution Amount 54.6571816
A-3 Interest Distribution Amount 4.0250000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 4.0250000
A-4 Interest Distribution Amount 3.8833334
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 3.8833334
B Interest Distribution Amount 4.1916666
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 4.1916666
C Interest Distribution Amount 4.3500000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 4.3500000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 746.48
Noteholders' Principal Distributable Amount 253.52
Account Balances $ Amount
Reserve Account
Balance as of 09/16/24 5,038,175.22
Investment Earnings 20,870.33
Investment Earnings Paid (20,870.33 )
Deposit/(Withdrawal) -
Balance as of 10/15/24 5,038,175.22
Change -
Required Reserve Amount 5,038,175.22
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 2,602,805.39 4,025,604.33 3,511,627.40
Number of Extensions 93 132 129
Ratio of extensions to Beginning of Period Receivables Balance 0.50 % 0.74 % 0.62 %