EX-99.1 2 tm2517558d34_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

World Omni Auto Receivables Trust 2023-D      
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   495,074,820.98    26,957      
Yield Supplement Overcollateralization Amount 04/30/25   43,764,013.97    0      
Receivables Balance 04/30/25   538,838,834.95    26,957      
Principal Payments   24,872,871.22    1,544      
Defaulted Receivables   1,093,162.11    40      
Repurchased Accounts   0.00    0      
Yield Supplement Overcollateralization Amount at 05/31/25   41,029,519.23    0      
Pool Balance at 05/31/25   471,843,282.39    25,373      
                
Pool Statistics   $ Amount    # of Accounts      
Pool Factor   45.82%          
Prepayment ABS Speed   1.65%          
Aggregate Starting Principal Balance   1,119,368,245.46    42,446      
                
Delinquent Receivables:               
Past Due 31-60 days   8,030,458.14    329      
Past Due 61-90 days   2,310,783.69    85      
Past Due 91-120 days   323,333.51    17      
Past Due 121+ days   0.00    0      
 Total   10,664,575.34    431      
                
Total 31+ Delinquent as % Aggregate Ending Principal Balance   2.08%          
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.51%          
Delinquency Trigger Occurred   NO           
                
Recoveries   842,960.29           
Aggregate Net Losses/(Gains) - May 2025   250,201.82           
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):               
Current Net Losses/(Gains) Ratio   0.56%          
Prior Net Losses/(Gains) Ratio   0.46%          
Second Prior Net Losses/(Gains) Ratio   0.47%          
Third Prior Net Losses/(Gains) Ratio   0.67%          
Four Month Average   0.54%          
                
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   0.57%          
                
Overcollateralization Target Amount   5,426,197.75           
Actual Overcollateralization   5,426,197.75           
Weighted Average Contract Rate   6.30%          
Weighted Average Contract Rate, Yield Adjusted   11.21%          
Weighted Average Remaining Term   45.00           
                
Flow of Funds   $ Amount           
Collections   28,488,889.92           
Investment Earnings on Cash Accounts   12,360.15           
Servicing Fee   (449,032.36)          
Transfer to Collection Account   -           
Available Funds   28,052,217.71           
                
Distributions of Available Funds               
    (1)  Asset Representation Reviewer Amounts (up to $150,000 per year)   -           
    (2)  Class A Interest   2,135,190.86           
    (3)  Noteholders' First Priority Principal Distributable Amount   -           
    (4)  Class B Interest   153,556.50           
    (5)  Noteholders' Second Priority Principal Distributable Amount   2,518,178.15           
    (6)  Class C Interest   78,479.50           
    (7)  Noteholders' Third Priority Principal Distributable Amount   15,020,000.00           
    (8)  Required Reserve Account   -           
    (9)  Noteholders' Principal Distributable Amount   5,426,197.75           
   (10)  Asset Representation Reviewer Amounts (in excess of 1)   -           
   (11)  Distribution to Certificateholders   2,720,614.95           
                
Total Distributions of Available Funds   28,052,217.71           
                
Servicing Fee   449,032.36           
Unpaid Servicing Fee   -           
Change in amount of the unpaid servicing fee from the prior period   -           

 

 

 

 

Note Balances & Note Factors   $ Amount           
Original Class A   954,260,000.00           
Original Class B   30,060,000.00           
Original Class C   15,020,000.00           
                
Total Class A, B, & C               
Note Balance @ 05/15/25   489,381,460.54           
Principal Paid   22,964,375.90           
Note Balance @ 06/16/25   466,417,084.64           
                
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   32,470,730.23           
Principal Paid   11,482,187.95           
Note Balance @ 06/16/25   20,988,542.28           
Note Factor @ 06/16/25   11.1109276%          
                
Class A-2b               
Note Balance @ 05/15/25   32,470,730.31           
Principal Paid   11,482,187.95           
Note Balance @ 06/16/25   20,988,542.36           
Note Factor @ 06/16/25   11.1109277%          
                
Class A-3               
Note Balance @ 05/15/25   317,800,000.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   317,800,000.00           
Note Factor @ 06/16/25   100.0000000%          
                
Class A-4               
Note Balance @ 05/15/25   61,560,000.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   61,560,000.00           
Note Factor @ 06/16/25   100.0000000%          
                
Class B               
Note Balance @ 05/15/25   30,060,000.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   30,060,000.00           
Note Factor @ 06/16/25   100.0000000%          
                
Class C               
Note Balance @ 05/15/25   15,020,000.00           
Principal Paid   0.00           
Note Balance @ 06/16/25   15,020,000.00           
Note Factor @ 06/16/25   100.0000000%          
                
Interest & Principal Payments   $ Amount           
Total Interest Paid   2,367,226.86           
Total Principal Paid   22,964,375.90           
Total Paid   25,331,602.76           
                
Class A-1               
Coupon   5.66800%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-1 Holders   0.00           
                
Class A-2a               
Coupon   5.91000%          
Interest Paid   159,918.35           
Principal Paid   11,482,187.95           
Total Paid to A-2a Holders   11,642,106.30           
                
Class A-2b               
SOFR Rate   4.33228%          
Coupon   4.91228%          
Interest Paid   141,782.51           
Principal Paid   11,482,187.95           
Total Paid to A-2b Holders   11,623,970.46           
                
Class A-3               
Coupon   5.79000%          
Interest Paid   1,533,385.00           
Principal Paid   0.00           
Total Paid to A-3 Holders   1,533,385.00           
                
Class A-4               
Coupon   5.85000%          
Interest Paid   300,105.00           
Principal Paid   0.00           
Total Paid to A-4 Holders   300,105.00           
                
Class B               
Coupon   6.13000%          
Interest Paid   153,556.50           
Principal Paid   0.00           
Total Paid to B Holders   153,556.50           
                
Class C               
Coupon   6.27000%          
Interest Paid   78,479.50           
Principal Paid   0.00           
Total Paid to C Holders   78,479.50           

 

 

 

  

Distribution per $1,000 of Notes   Total            
Total Interest Distribution Amount   2.3687903           
Total Interest Carryover Shortfall   0.0000000           
Total Principal Distribution Amount   22.9795424           
Total Distribution Amount   25.3483327           
                
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   0.8465768           
A-2a Interest Carryover Shortfall   0.0000000           
A-2a  Principal Distribution Amount   60.7844783           
Total A-2a  Distribution Amount   61.6310551           
                
A-2b  Interest Distribution Amount   0.7505691           
A-2b Interest Carryover Shortfall   0.0000000           
A-2b  Principal Distribution Amount   60.7844783           
Total A-2b  Distribution Amount   61.5350474           
                
A-3 Interest Distribution Amount   4.8250000           
A-3 Interest Carryover Shortfall   0.0000000           
A-3 Principal Distribution Amount   0.0000000           
Total A-3 Distribution Amount   4.8250000           
                
A-4 Interest Distribution Amount   4.8750000           
A-4 Interest Carryover Shortfall   0.0000000           
A-4 Principal Distribution Amount   0.0000000           
Total A-4 Distribution Amount   4.8750000           
                
B Interest Distribution Amount   5.1083333           
B Interest Carryover Shortfall   0.0000000           
B Principal Distribution Amount   0.0000000           
Total B Distribution Amount   5.1083333           
                
C Interest Distribution Amount   5.2250000           
C Interest Carryover Shortfall   0.0000000           
C Principal Distribution Amount   0.0000000           
Total C Distribution Amount   5.2250000           
                
Noteholders' First Priority Principal Distributable Amount   0.00           
Noteholders' Second Priority Principal Distributable Amount   109.65           
Noteholders' Third Priority Principal Distributable Amount   654.06           
Noteholders' Principal Distributable Amount   236.29           
                
Account Balances   $ Amount           
Reserve Account               
Balance as of 05/15/25   2,504,634.24           
Investment Earnings   9,044.41           
Investment Earnings Paid   (9,044.41)          
Deposit/(Withdrawal)   -           
Balance as of 06/16/25   2,504,634.24           
Change   -           
                
Required Reserve Amount   2,504,634.24           
                
Other Servicing Information   Current Month    Prior Month    Two Months Prior 
Principal Balance of Receivables extended during the Collection Period  $2,862,184.42    2,864,410.39    2,790,100.99 
Number of Extensions   99    105    104 
Ratio of extensions to Beginning of Period Receivables Balance   0.53%   0.51%   0.47%