EX-99.1 2 tm2517558d31_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

World Omni Auto Receivables Trust 2023-A            
Monthly Servicer Certificate            
May 31, 2025            
             
Dates Covered            
Collections Period   05/01/25 - 05/31/25           
Interest Accrual Period   05/15/25 - 06/15/25           
30/360 Days   30           
Actual/360 Days   32           
Distribution Date   06/16/25           
                
Collateral Pool Balance Data   $ Amount    # of Accounts      
Pool Balance at 04/30/25   340,122,619.37    19,067      
Yield Supplement Overcollateralization Amount 04/30/25   22,286,833.43    0      
Receivables Balance 04/30/25   362,409,452.80    19,067      
Principal Payments   16,613,492.57    412      
Defaulted Receivables   689,332.21    30      
Repurchased Accounts   0.00    0      
Yield Supplement Overcollateralization Amount at 05/31/25   20,788,541.96    0      
Pool Balance at 05/31/25   324,318,086.06    18,625      
                
Pool Statistics   $ Amount    # of Accounts      
Pool Factor   30.90%          
Prepayment ABS Speed   1.35%          
Aggregate Starting Principal Balance   1,116,806,264.43    45,522      
                
Delinquent Receivables:               
Past Due 31-60 days   6,033,125.26    230      
Past Due 61-90 days   1,488,928.99    59      
Past Due 91-120 days   375,275.75    16      
Past Due 121+ days   0.00    0      
 Total   7,897,330.00    305      
                
Total 31+ Delinquent as % Aggregate Ending Principal Balance   2.29%          
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.54%          
Delinquency Trigger Occurred   NO           
                
Recoveries   704,574.06           
Aggregate Net Losses/(Gains) - May 2025   (15,241.85)          
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):               
Current Net Losses/(Gains) Ratio   -0.05%          
Prior Net Losses/(Gains) Ratio   -0.11%          
Second Prior Net Losses/(Gains) Ratio   0.55%          
Third Prior Net Losses/(Gains) Ratio   0.88%          
Four Month Average   0.32%          
                
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   0.61%          
                
Overcollateralization Target Amount   5,038,175.22           
Actual Overcollateralization   5,038,175.22           
Weighted Average Contract Rate   5.86%          
Weighted Average Contract Rate, Yield Adjusted   10.03%          
Weighted Average Remaining Term   38.89           
                
Flow of Funds   $ Amount           
Collections   19,059,237.96           
Investment Earnings on Cash Accounts   20,535.00           
Servicing Fee   (302,007.88)          
Transfer to Collection Account   -           
Available Funds   18,777,765.08           
                
Distributions of Available Funds               
    (1)  Asset Representation Reviewer Amounts (up to $150,000 per year)   -           
    (2)  Class A Interest   1,152,353.06           
    (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   10,766,358.09           
    (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   1,628,392.63           
                
Total Distributions of Available Funds   18,777,765.08           
                
Servicing Fee   302,007.88           
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 @ 05/15/25   335,084,444.15           
Principal Paid   15,804,533.31           
Note Balance @ 06/16/25   319,279,910.84           
                
Class A-1               
Note Balance @ 05/15/25   0.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   0.00           
Note Factor @ 06/16/25   0.0000000%          
                
Class A-2a               
Note Balance @ 05/15/25   0.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   0.00           
Note Factor @ 06/16/25   0.0000000%          
                
Class A-2b               
Note Balance @ 05/15/25   0.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   0.00           
Note Factor @ 06/16/25   0.0000000%          
                
Class A-3               
Note Balance @ 05/15/25   192,124,444.15           
Principal Paid   15,804,533.31           
Note Balance @ 06/16/25   176,319,910.84           
Note Factor @ 06/16/25   62.9983960%          
                
Class A-4               
Note Balance @ 05/15/25   97,610,000.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   97,610,000.00           
Note Factor @ 06/16/25   100.0000000%          
                
Class B               
Note Balance @ 05/15/25   30,230,000.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   30,230,000.00           
Note Factor @ 06/16/25   100.0000000%          
                
Class C               
Note Balance @ 05/15/25   15,120,000.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   15,120,000.00           
Note Factor @ 06/16/25   100.0000000%          
                
Interest & Principal Payments   $ Amount           
Total Interest Paid   1,344,839.14           
Total Principal Paid   15,804,533.31           
Total Paid   17,149,372.45           
                
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   0.00           
Principal Paid   0.00           
Total Paid to A-2a Holders   0.00           
                
Class A-2b               
SOFR Rate   4.33228%          
Coupon   4.76228%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-2b Holders   0.00           
                
Class A-3               
Coupon   4.83000%          
Interest Paid   773,300.89           
Principal Paid   15,804,533.31           
Total Paid to A-3 Holders   16,577,834.20           
                
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   1.3346557           
Total Interest Carryover Shortfall   0.0000000           
Total Principal Distribution Amount   15.6848578           
Total Distribution Amount   17.0195135           
                
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   0.0000000           
A-2a Interest Carryover Shortfall   0.0000000           
A-2a  Principal Distribution Amount   0.0000000           
Total A-2a  Distribution Amount   0.0000000           
                
A-2b  Interest Distribution Amount   0.0000000           
A-2b Interest Carryover Shortfall   0.0000000           
A-2b  Principal Distribution Amount   0.0000000           
Total A-2b  Distribution Amount   0.0000000           
                
A-3 Interest Distribution Amount   2.7629730           
A-3 Interest Carryover Shortfall   0.0000000           
A-3 Principal Distribution Amount   56.4689628           
Total A-3 Distribution Amount   59.2319358           
                
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   681.22           
Noteholders' Principal Distributable Amount   318.78           
                
Account Balances   $ Amount           
Reserve Account               
Balance as of 05/15/25   5,038,175.22           
Investment Earnings   18,193.21           
Investment Earnings Paid   (18,193.21)          
Deposit/(Withdrawal)   -           
Balance as of 06/16/25   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  $1,902,339.45    1,966,317.02    2,129,791.17 
Number of Extensions   76    78    81 
Ratio of extensions to Beginning of Period Receivables Balance   0.52%   0.52%   0.53%