Ford Credit Auto Owner Trust 2022-B
09/20/2024 | Press release | Distributed by Public on 09/20/2024 08:17
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 27 |
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 | $ | 1,173,418,193.47 | 36,914 | 54.4 months | ||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | ||||
| Original Securities | ||||||
| Class A-1 Notes | $ | 203,160,000.00 | 2.038 | % | July 15, 2023 | |
| Class A-2a Notes | $ | 271,020,000.00 | 3.44 | % | February 15, 2025 | |
| Class A-2b Notes | $ | 100,000,000.00 | 5.95353 | % | * | February 15, 2025 |
| Class A-3 Notes | $ | 321,020,000.00 | 3.74 | % | September 15, 2026 | |
| Class A-4 Notes | $ | 104,800,000.00 | 3.93 | % | August 15, 2027 | |
| Class B Notes | $ | 31,580,000.00 | 4.51 | % | October 15, 2027 | |
| Class C Notes | $ | 21,050,000.00 | 4.85 | % | December 15, 2029 | |
| Total | $ | 1,052,630,000.00 | ||||
| * 30-day average SOFR + 0.60% |
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 1,005,034.13 |
| Principal: | ||
| Principal Collections | $ | 14,156,836.28 |
| Prepayments in Full | $ | 6,327,007.76 |
| Liquidation Proceeds | $ | 207,397.29 |
| Recoveries | $ | 61,139.99 |
| Sub Total | $ | 20,752,381.32 |
| Collections | $ | 21,757,415.45 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 0.00 |
| Purchase Amounts Related to Interest | $ | 0.00 |
| Sub Total | $ | 0.00 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 21,757,415.45 |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 27 |
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 | $ | 21,757,415.45 |
| Servicing Fee | $ | 337,642.69 | $ | 337,642.69 | $ | 0.00 | $ | 0.00 | $ | 21,419,772.76 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 21,419,772.76 |
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 21,419,772.76 |
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 21,419,772.76 |
| Interest - Class A-3 Notes | $ | 581,989.07 | $ | 581,989.07 | $ | 0.00 | $ | 0.00 | $ | 20,837,783.69 |
| Interest - Class A-4 Notes | $ | 343,220.00 | $ | 343,220.00 | $ | 0.00 | $ | 0.00 | $ | 20,494,563.69 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 20,494,563.69 |
| Interest - Class B Notes | $ | 118,688.17 | $ | 118,688.17 | $ | 0.00 | $ | 0.00 | $ | 20,375,875.52 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 20,375,875.52 |
| Interest - Class C Notes | $ | 85,077.08 | $ | 85,077.08 | $ | 0.00 | $ | 0.00 | $ | 20,290,798.44 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 20,290,798.44 |
| Regular Principal Payment | $ | 18,406,313.01 | $ | 18,406,313.01 | $ | 0.00 | $ | 0.00 | $ | 1,884,485.43 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,884,485.43 |
| Residual Released to Depositor | $ | 0.00 | $ | 1,884,485.43 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 21,757,415.45 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 18,406,313.01 | ||||||||
| Total | $ | 18,406,313.01 | ||||||||
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-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-3 Notes | $ | 18,406,313.01 | $ | 57.34 | $ | 581,989.07 | $ | 1.81 | $ | 18,988,302.08 | $ | 59.15 |
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 343,220.00 | $ | 3.28 | $ | 343,220.00 | $ | 3.28 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 118,688.17 | $ | 3.76 | $ | 118,688.17 | $ | 3.76 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 85,077.08 | $ | 4.04 | $ | 85,077.08 | $ | 4.04 |
| Total | $ | 18,406,313.01 | $ | 17.49 | $ | 1,128,974.32 | $ | 1.07 | $ | 19,535,287.33 | $ | 18.56 |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 27 |
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-2a Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-2b Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-3 Notes | $ | 186,734,460.02 | 0.5816910 | $ | 168,328,147.01 | 0.5243541 |
| Class A-4 Notes | $ | 104,800,000.00 | 1.0000000 | $ | 104,800,000.00 | 1.0000000 |
| Class B Notes | $ | 31,580,000.00 | 1.0000000 | $ | 31,580,000.00 | 1.0000000 |
| Class C Notes | $ | 21,050,000.00 | 1.0000000 | $ | 21,050,000.00 | 1.0000000 |
| Total | $ | 344,164,460.02 | 0.3269567 | $ | 325,758,147.01 | 0.3094707 |
| Pool Information | ||||
| Weighted Average APR | 2.976 | % | 2.984 | % |
| Weighted Average Remaining Term | 33.50 | 32.77 | ||
| Number of Receivables Outstanding | 20,846 | 20,219 | ||
| Pool Balance | $ | 405,171,230.22 | $ | 384,288,673.18 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 368,663,083.59 | $ | 349,943,532.23 |
| Pool Factor | 0.3452914 | 0.3274951 | ||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 2,631,579.30 |
| Yield Supplement Overcollateralization Amount | $ | 34,345,140.95 |
| Targeted Overcollateralization Amount | $ | 58,530,526.17 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 58,530,526.17 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 2,631,579.30 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 2,631,579.30 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 2,631,579.30 |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 27 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 47 | $ | 191,315.71 | ||
| (Recoveries) | 42 | $ | 61,139.99 | ||
| Net Loss for Current Collection Period | $ | 130,175.72 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.3855 | % | |||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.3275 | % | |||
| Second Prior Collection Period | 0.1906 | % | |||
| Prior Collection Period | 0.4196 | % | |||
| Current Collection Period | 0.3957 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.3334 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 1,162 | $ | 5,240,695.27 | ||
| (Cumulative Recoveries) | $ | 1,167,626.60 | |||
| Cumulative Net Loss for All Collection Periods | $ | 4,073,068.67 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.3471 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 4,510.06 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,505.22 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 1.25 | % | 177 | $ | 4,820,787.98 |
| 61-90 Days Delinquent | 0.16 | % | 27 | $ | 600,260.20 |
| 91-120 Days Delinquent | 0.06 | % | 5 | $ | 227,812.15 |
| Over 120 Days Delinquent | 0.14 | % | 15 | $ | 525,567.91 |
| Total Delinquent Receivables | 1.61 | % | 224 | $ | 6,174,428.24 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 13 | $ | 523,445.82 | ||
| Total Repossessed Inventory | 18 | $ | 714,883.99 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.2001 | % | |||
| Prior Collection Period | 0.2590 | % | |||
| Current Collection Period | 0.2325 | % | |||
| Three Month Average | 0.2305 | % | |||
| 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 | 0.3522 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2022-B
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 27 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 82 | $2,303,234.06 |
| 2 Months Extended | 100 | $2,862,702.42 |
| 3+ Months Extended | 19 | $525,549.58 |
| Total Receivables Extended | 201 | $5,691,486.06 |
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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