World Omni Auto Receivables Trust 2022-C

11/27/2024 | Press release | Distributed by Public on 11/27/2024 06:16

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2022-C
Monthly Servicer Certificate
October 31, 2024
Dates Covered
Collections Period 10/01/24 - 10/31/24
Interest Accrual Period 10/15/24 - 11/14/24
30/360 Days 30
Actual/360 Days 31
Distribution Date 11/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 09/30/24 382,600,845.25 22,438
Yield Supplement Overcollateralization Amount 09/30/24 25,609,414.75 0
Receivables Balance 09/30/24 408,210,260.00 22,438
Principal Payments 17,705,830.17 437
Defaulted Receivables 844,583.65 35
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 10/31/24 23,983,406.58 0
Pool Balance at 10/31/24 365,676,439.60 21,966
Pool Statistics $ Amount # of Accounts
Pool Factor 34.68 %
Prepayment ABS Speed 1.30 %
Aggregate Starting Principal Balance 1,123,484,105.00 42,981
Delinquent Receivables:
Past Due 31-60 days 8,485,907.49 330
Past Due 61-90 days 2,418,101.36 99
Past Due 91-120 days 681,440.13 29
Past Due 121+ days 0.00 0
Total 11,585,448.98 458
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.97 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.80 %
Delinquency Trigger Occurred NO
Recoveries 490,355.28
Aggregate Net Losses/(Gains) - October 2024 354,228.37
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 1.04 %
Prior Net Losses/(Gains) Ratio 0.62 %
Second Prior Net Losses/(Gains) Ratio 0.96 %
Third Prior Net Losses/(Gains) Ratio 0.41 %
Four Month Average 0.76 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.58 %
Overcollateralization Target Amount 5,081,353.05
Actual Overcollateralization 5,081,353.05
Weighted Average Contract Rate 4.65 %
Weighted Average Contract Rate, Yield Adjusted 8.79 %
Weighted Average Remaining Term 39.56
Flow of Funds $ Amount
Collections 19,737,685.72
Investment Earnings on Cash Accounts 23,000.14
Servicing Fee (340,175.22 )
Transfer to Collection Account -
Available Funds 19,420,510.64
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 1,014,365.45
(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 11,843,052.60
(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 1,322,946.04
Total Distributions of Available Funds 19,420,510.64
Servicing Fee 340,175.22
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 @ 10/15/24 377,519,492.20
Principal Paid 16,924,405.65
Note Balance @ 11/15/24 360,595,086.55
Class A-1
Note Balance @ 10/15/24 0.00
Principal Paid 0.00
Note Balance @ 11/15/24 0.00
Note Factor @ 11/15/24 0.0000000 %
Class A-2
Note Balance @ 10/15/24 0.00
Principal Paid 0.00
Note Balance @ 11/15/24 0.00
Note Factor @ 11/15/24 0.0000000 %
Class A-3
Note Balance @ 10/15/24 233,339,492.20
Principal Paid 16,924,405.65
Note Balance @ 11/15/24 216,415,086.55
Note Factor @ 11/15/24 85.5733834 %
Class A-4
Note Balance @ 10/15/24 98,700,000.00
Principal Paid 0.00
Note Balance @ 11/15/24 98,700,000.00
Note Factor @ 11/15/24 100.0000000 %
Class B
Note Balance @ 10/15/24 30,350,000.00
Principal Paid 0.00
Note Balance @ 11/15/24 30,350,000.00
Note Factor @ 11/15/24 100.0000000 %
Class C
Note Balance @ 10/15/24 15,130,000.00
Principal Paid 0.00
Note Balance @ 11/15/24 15,130,000.00
Note Factor @ 11/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 1,173,158.95
Total Principal Paid 16,924,405.65
Total Paid 18,097,564.60
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 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 3.66000 %
Interest Paid 711,685.45
Principal Paid 16,924,405.65
Total Paid to A-3 Holders 17,636,091.10
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 1.1595000
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 16.7273574
Total Distribution Amount 17.8868574
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 0.0000000
A-2 Interest Carryover Shortfall 0.0000000
A-2 Principal Distribution Amount 0.0000000
Total A-2 Distribution Amount 0.0000000
A-3 Interest Distribution Amount 2.8140983
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 66.9213351
Total A-3 Distribution Amount 69.7354334
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 699.76
Noteholders' Principal Distributable Amount 300.24
Account Balances $ Amount
Reserve Account
Balance as of 10/15/24 5,058,901.50
Investment Earnings 20,363.11
Investment Earnings Paid (20,363.11 )
Deposit/(Withdrawal) -
Balance as of 11/15/24 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 $ 5,898,558.25 $ 2,929,331.51 $ 3,377,169.14
Number of Extensions 237 119 136
Ratio of extensions to Beginning of Period Receivables Balance 1.44 % 0.69 % 0.76 %