EX-99.1 2 tm2529279d30_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

World Omni Auto Receivables Trust 2023-C

Monthly Servicer Certificate

September 30, 2025

 

Dates Covered          
Collections Period   09/01/25 - 09/30/25         
Interest Accrual Period   09/15/25 - 10/14/25         
30/360 Days   30         
Actual/360 Days   30         
Distribution Date   10/15/25         
              
Collateral Pool Balance Data  $ Amount  # of Accounts     
Pool Balance at 08/31/25   376,937,252.29   21,465     
Yield Supplement Overcollateralization Amount 08/31/25   26,499,181.04   0     
Receivables Balance 08/31/25   403,436,433.33   21,465     
Principal Payments   19,197,005.34   484     
Defaulted Receivables   740,309.73   33     
Repurchased Accounts   0.00   0     
Yield Supplement Overcollateralization Amount at 09/30/25   24,633,069.25   0     
Pool Balance at 09/30/25   358,866,049.01   20,948     
              
Pool Statistics  $ Amount  # of Accounts     
Pool Factor   32.96%        
Prepayment ABS Speed   1.41%        
Aggregate Starting Principal Balance   1,163,498,581.79   43,008     
              
Delinquent Receivables:             
Past Due 31-60 days   7,774,098.46   314     
Past Due 61-90 days   2,638,744.29   99     
Past Due 91-120 days   426,996.02   22     
Past Due 121+ days   0.00   0     
Total   10,839,838.77   435     
              
Total 31+ Delinquent as % Aggregate Ending Principal Balance   2.83%        
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.80%        
Delinquency Trigger Occurred   NO         
              
Recoveries   603,320.01         
Aggregate Net Losses/(Gains) - September 2025   136,989.72         
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):             
Current Net Losses/(Gains) Ratio   0.41%        
Prior Net Losses/(Gains) Ratio   0.19%        
Second Prior Net Losses/(Gains) Ratio   0.65%        
Third Prior Net Losses/(Gains) Ratio   0.21%        
Four Month Average   0.37%        
              
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   0.68%        
              
Overcollateralization Target Amount   5,206,702.45         
Actual Overcollateralization   5,206,702.45         
Weighted Average Contract Rate   6.12%        
Weighted Average Contract Rate, Yield Adjusted   10.74%        
Weighted Average Remaining Term   38.19         
              
Flow of Funds  $ Amount         
Collections   21,902,276.67         
Investment Earnings on Cash Accounts   11,418.04         
Servicing Fee   (336,197.03)        
Transfer to Collection Account   -         
Available Funds   21,577,497.68         
              
Distributions of Available Funds             
    (1)  Asset Representation Reviewer Amounts (up to $150,000 per year)   -         
    (2)  Class A Interest   1,385,879.03         
    (3)  Noteholders' First Priority Principal Distributable Amount   -         
    (4)  Class B Interest   139,360.00         
    (5)  Noteholders' Second Priority Principal Distributable Amount   -         
    (6)  Class C Interest   71,859.58         
    (7)  Noteholders' Third Priority Principal Distributable Amount   12,864,500.83         
    (8)  Required Reserve Account   -         
    (9)  Noteholders' Principal Distributable Amount   5,206,702.45         
   (10)  Asset Representation Reviewer Amounts (in excess of 1)   -         
   (11)  Distribution to Certificateholders   1,909,195.79         
              
Total Distributions of Available Funds   21,577,497.68         
              
Servicing Fee   336,197.03         
Unpaid Servicing Fee   -         
Change in amount of the unpaid servicing fee from the prior period   -         

 

 

 

 

Note Balances & Note Factors  $ Amount         
Original Class A   991,900,000.00         
Original Class B   31,200,000.00         
Original Class C   15,650,000.00         
              
Total Class A, B, & C             
Note Balance @ 09/15/25   371,730,549.84         
Principal Paid   18,071,203.28         
Note Balance @ 10/15/25   353,659,346.56         
              
Class A-1             
Note Balance @ 09/15/25   0.00         
Principal Paid   0.00         
Note Balance @ 10/15/25   0.00         
Note Factor @ 10/15/25   0.0000000%        
              
Class A-2a             
Note Balance @ 09/15/25   0.00         
Principal Paid   0.00         
Note Balance @ 10/15/25   0.00         
Note Factor @ 10/15/25   0.0000000%        
              
Class A-2b             
Note Balance @ 09/15/25   0.00         
Principal Paid   0.00         
Note Balance @ 10/15/25   0.00         
Note Factor @ 10/15/25   0.0000000%        
              
Class A-3             
Note Balance @ 09/15/25   240,880,549.84         
Principal Paid   18,071,203.28         
Note Balance @ 10/15/25   222,809,346.56         
Note Factor @ 10/15/25   70.4424112%        
              
Class A-4             
Note Balance @ 09/15/25   84,000,000.00         
Principal Paid   0.00         
Note Balance @ 10/15/25   84,000,000.00         
Note Factor @ 10/15/25   100.0000000%        
              
Class B             
Note Balance @ 09/15/25   31,200,000.00         
Principal Paid   0.00         
Note Balance @ 10/15/25   31,200,000.00         
Note Factor @ 10/15/25   100.0000000%        
              
Class C             
Note Balance @ 09/15/25   15,650,000.00         
Principal Paid   0.00         
Note Balance @ 10/15/25   15,650,000.00         
Note Factor @ 10/15/25   100.0000000%        
              
Interest & Principal Payments  $ Amount         
Total Interest Paid   1,597,098.61         
Total Principal Paid   18,071,203.28         
Total Paid   19,668,301.89         
              
Class A-1             
Coupon   5.60700%        
Interest Paid   0.00         
Principal Paid   0.00         
Total Paid to A-1 Holders   0.00         
              
Class A-2a             
Coupon   5.57000%        
Interest Paid   0.00         
Principal Paid   0.00         
Total Paid to A-2a Holders   0.00         
              
Class A-2b             
SOFR Rate   4.37208%        
Coupon   4.78208%        
Interest Paid   0.00         
Principal Paid   0.00         
Total Paid to A-2b Holders   0.00         
              
Class A-3             
Coupon   5.15000%        
Interest Paid   1,033,779.03         
Principal Paid   18,071,203.28         
Total Paid to A-3 Holders   19,104,982.31         
              
Class A-4             
Coupon   5.03000%        
Interest Paid   352,100.00         
Principal Paid   0.00         
Total Paid to A-4 Holders   352,100.00         
              
Class B             
Coupon   5.36000%        
Interest Paid   139,360.00         
Principal Paid   0.00         
Total Paid to B Holders   139,360.00         
              
Class C             
Coupon   5.51000%        
Interest Paid   71,859.58         
Principal Paid   0.00         
Total Paid to C Holders   71,859.58         

 

 

 

 

Distribution per $1,000 of Notes  Total         
Total Interest Distribution Amount   1.5375197         
Total Interest Carryover Shortfall   0.0000000         
Total Principal Distribution Amount   17.3970669         
Total Distribution Amount   18.9345866         
              
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   3.2683498         
A-3 Interest Carryover Shortfall   0.0000000         
A-3 Principal Distribution Amount   57.1331119         
Total A-3 Distribution Amount   60.4014617         
              
A-4 Interest Distribution Amount   4.1916667         
A-4 Interest Carryover Shortfall   0.0000000         
A-4 Principal Distribution Amount   0.0000000         
Total A-4 Distribution Amount   4.1916667         
              
B Interest Distribution Amount   4.4666667         
B Interest Carryover Shortfall   0.0000000         
B Principal Distribution Amount   0.0000000         
Total B Distribution Amount   4.4666667         
              
C Interest Distribution Amount   4.5916665         
C Interest Carryover Shortfall   0.0000000         
C Principal Distribution Amount   0.0000000         
Total C Distribution Amount   4.5916665         
              
Noteholders' First Priority Principal Distributable Amount   0.00         
Noteholders' Second Priority Principal Distributable Amount   0.00         
Noteholders' Third Priority Principal Distributable Amount   711.88         
Noteholders' Principal Distributable Amount   288.12         
              
Account Balances  $ Amount         
Reserve Account             
Balance as of 09/15/25   2,603,351.22         
Investment Earnings   8,803.69         
Investment Earnings Paid   (8,803.69)        
Deposit/(Withdrawal)   -         
Balance as of 10/15/25   2,603,351.22         
Change   -         
              
Required Reserve Amount   2,603,351.22         
              
Other Servicing Information  Current Month  Prior Month  Two Months Prior 
Principal Balance of Receivables extended during the Collection Period  $2,215,187.24   2,404,688.16   2,709,989.13 
Number of Extensions   89   92   106 
Ratio of extensions to Beginning of Period Receivables Balance   0.55%  0.57%  0.61%