06/28/2024 | Press release | Distributed by Public on 06/28/2024 05:18
World Omni Auto Receivables Trust 2023-A
Monthly Servicer Certificate
May 31, 2024
Dates Covered | ||||||||||
Collections Period | 05/01/24 - 05/31/24 | |||||||||
Interest Accrual Period | 05/15/24 - 06/16/24 | |||||||||
30/360 Days | 30 | |||||||||
Actual/360 Days | 33 | |||||||||
Distribution Date | 06/17/24 |
Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||
Pool Balance at 04/30/24 | 569,231,315.10 | 30,488 | ||||||||
Yield Supplement Overcollateralization Amount 04/30/24 | 49,554,734.66 | 0 | ||||||||
Receivables Balance 04/30/24 | 618,786,049.76 | 30,488 | ||||||||
Principal Payments | 24,805,408.01 | 1,178 | ||||||||
Defaulted Receivables | 837,842.20 | 33 | ||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||
Yield Supplement Overcollateralization Amount at 05/31/24 | 46,863,301.17 | 0 | ||||||||
Pool Balance at 05/31/24 | 546,279,498.38 | 29,277 |
Pool Statistics | $ Amount | # of Accounts | ||||||||
Pool Factor | 53.11 | % | ||||||||
Prepayment ABS Speed | 1.56 | % | ||||||||
Aggregate Starting Principal Balance | 1,116,806,264.43 | 45,522 | ||||||||
Delinquent Receivables: | ||||||||||
Past Due 31-60 days | 7,656,919.26 | 318 | ||||||||
Past Due 61-90 days | 2,258,112.76 | 90 | ||||||||
Past Due 91-120 days | 444,027.52 | 18 | ||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||
Total | 10,359,059.54 | 426 | ||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 1.75 | % | ||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.46 | % | ||||||||
Delinquency Trigger Occurred | NO | |||||||||
Recoveries | 638,275.40 | |||||||||
Aggregate Net Losses/(Gains) - May 2024 | 199,566.80 | |||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||
Current Net Losses/(Gains) Ratio | 0.39 | % | ||||||||
Prior Net Losses/(Gains) Ratio | 0.47 | % | ||||||||
Second Prior Net Losses/(Gains) Ratio | 0.41 | % | ||||||||
Third Prior Net Losses/(Gains) Ratio | 0.79 | % | ||||||||
Four Month Average | 0.52 | % | ||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.34 | % | ||||||||
Overcollateralization Target Amount | 5,038,175.22 | |||||||||
Actual Overcollateralization | 5,038,175.22 | |||||||||
Weighted Average Contract Rate | 5.74 | % | ||||||||
Weighted Average Contract Rate, Yield Adjusted | 10.28 | % | ||||||||
Weighted Average Remaining Term | 48.49 |
Flow of Funds | $ Amount | |||||||||
Collections | 28,373,088.55 | |||||||||
Investment Earnings on Cash Accounts | 26,621.70 | |||||||||
Servicing Fee | (515,655.04 | ) | ||||||||
Transfer to Collection Account | - | |||||||||
Available Funds | 27,884,055.21 | |||||||||
Distributions of Available Funds | ||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||
(2) Class A Interest | 2,155,785.82 | |||||||||
(3) Noteholders' First Priority Principal Distributable Amount | - | |||||||||
(4) Class B Interest | 126,714.08 | |||||||||
(5) Noteholders' Second Priority Principal Distributable Amount | 2,708,734.88 | |||||||||
(6) Class C Interest | 65,772.00 | |||||||||
(7) Noteholders' Third Priority Principal Distributable Amount | 15,120,000.00 | |||||||||
(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 | 2,668,873.21 | |||||||||
Total Distributions of Available Funds | 27,884,055.21 | |||||||||
Servicing Fee | 515,655.04 | |||||||||
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 @ 05/15/24 | 564,108,233.26 | |||||||||
Principal Paid | 22,866,910.10 | |||||||||
Note Balance @ 06/17/24 | 541,241,323.16 | |||||||||
Class A-1 | ||||||||||
Note Balance @ 05/15/24 | 0.00 | |||||||||
Principal Paid | 0.00 | |||||||||
Note Balance @ 06/17/24 | 0.00 | |||||||||
Note Factor @ 06/17/24 | 0.0000000 | % | ||||||||
Class A-2a | ||||||||||
Note Balance @ 05/15/24 | 99,068,837.05 | |||||||||
Principal Paid | 16,036,147.25 | |||||||||
Note Balance @ 06/17/24 | 83,032,689.80 | |||||||||
Note Factor @ 06/17/24 | 32.1533031 | % | ||||||||
Class A-2b | ||||||||||
Note Balance @ 05/15/24 | 42,199,396.21 | |||||||||
Principal Paid | 6,830,762.85 | |||||||||
Note Balance @ 06/17/24 | 35,368,633.36 | |||||||||
Note Factor @ 06/17/24 | 32.1533031 | % | ||||||||
Class A-3 | ||||||||||
Note Balance @ 05/15/24 | 279,880,000.00 | |||||||||
Principal Paid | 0.00 | |||||||||
Note Balance @ 06/17/24 | 279,880,000.00 | |||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||
Class A-4 | ||||||||||
Note Balance @ 05/15/24 | 97,610,000.00 | |||||||||
Principal Paid | 0.00 | |||||||||
Note Balance @ 06/17/24 | 97,610,000.00 | |||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||
Class B | ||||||||||
Note Balance @ 05/15/24 | 30,230,000.00 | |||||||||
Principal Paid | 0.00 | |||||||||
Note Balance @ 06/17/24 | 30,230,000.00 | |||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||
Class C | ||||||||||
Note Balance @ 05/15/24 | 15,120,000.00 | |||||||||
Principal Paid | 0.00 | |||||||||
Note Balance @ 06/17/24 | 15,120,000.00 | |||||||||
Note Factor @ 06/17/24 | 100.0000000 | % |
Interest & Principal Payments | $ Amount | |||||||||
Total Interest Paid | 2,348,271.90 | |||||||||
Total Principal Paid | 22,866,910.10 | |||||||||
Total Paid | 25,215,182.00 | |||||||||
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 | 427,647.15 | |||||||||
Principal Paid | 16,036,147.25 | |||||||||
Total Paid to A-2a Holders | 16,463,794.40 | |||||||||
Class A-2b | ||||||||||
SOFR Rate | 5.32371 | % | ||||||||
Coupon | 5.75371 | % | ||||||||
Interest Paid | 222,569.50 | |||||||||
Principal Paid | 6,830,762.85 | |||||||||
Total Paid to A-2b Holders | 7,053,332.35 | |||||||||
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 | 2.3304903 | |||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||
Total Principal Distribution Amount | 22.6937567 | |||||||||
Total Distribution Amount | 25.0242470 | |||||||||
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 | 1.6560066 | |||||||||
A-2a Interest Carryover Shortfall | 0.0000000 | |||||||||
A-2a Principal Distribution Amount | 62.0978441 | |||||||||
Total A-2a Distribution Amount | 63.7538507 | |||||||||
A-2b Interest Distribution Amount | 2.0233591 | |||||||||
A-2b Interest Carryover Shortfall | 0.0000000 | |||||||||
A-2b Principal Distribution Amount | 62.0978441 | |||||||||
Total A-2b Distribution Amount | 64.1212032 | |||||||||
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 | 118.46 | |||||||||
Noteholders' Third Priority Principal Distributable Amount | 661.22 | |||||||||
Noteholders' Principal Distributable Amount | 220.32 |
Account Balances | $ Amount | |||||||||
Reserve Account | ||||||||||
Balance as of 05/15/24 | 5,038,175.22 | |||||||||
Investment Earnings | 22,443.92 | |||||||||
Investment Earnings Paid | (22,443.92 | ) | ||||||||
Deposit/(Withdrawal) | - | |||||||||
Balance as of 06/17/24 | 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 | $ | 4,398,044.38 | 3,740,346.37 | 4,141,159.29 | ||||||||
Number of Extensions | 159 | 123 | 143 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.71 | % | 0.58 | % | 0.62 | % |