Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 18 | |
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 | $ | 1,471,280,949.11 | | | 45,366 | | | 54.6 months |
| | | | | |
| Dollar Amount | | Note Interest Rate | | Final Scheduled Payment Date |
| Original Securities | | | | | |
| Class A-1 Notes | $ | 254,320,000.00 | | | 4.594 | % | | December 15, 2023 |
| Class A-2a Notes | $ | 300,340,000.00 | | | 5.37 | % | | August 15, 2025 |
| Class A-2b Notes | $ | 160,000,000.00 | | | 6.09002 | % | * | August 15, 2025 |
| Class A-3 Notes | $ | 460,340,000.00 | | | 5.27 | % | | May 15, 2027 |
| Class A-4 Notes | $ | 75,000,000.00 | | | 5.30 | % | | March 15, 2028 |
| Class B Notes | $ | 39,480,000.00 | | | 5.98 | % | | June 15, 2028 |
| Class C Notes | $ | 26,300,000.00 | | | 6.46 | % | | May 15, 2030 |
| Total | $ | 1,315,780,000.00 | | | | | |
| | | * 30-day average SOFR + 0.76% |
II. AVAILABLE FUNDS
| | | | | |
| Interest: | |
| Interest Collections | $ | 2,677,241.15 | |
| |
| Principal: | |
| Principal Collections | $ | 23,010,380.24 | |
| Prepayments in Full | $ | 11,169,935.19 | |
| Liquidation Proceeds | $ | 355,123.03 | |
| Recoveries | $ | 85,221.63 | |
| Sub Total | $ | 34,620,660.09 | |
| Collections | $ | 37,297,901.24 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 132,625.35 | |
| Purchase Amounts Related to Interest | $ | 800.39 | |
| Sub Total | $ | 133,425.74 | |
| |
| Clean-up Call | $ | 0.00 | |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $ | 37,431,326.98 | |
Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 18 | |
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 | | | $ | 37,431,326.98 | |
| Servicing Fee | $ | 652,062.43 | | | $ | 652,062.43 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 36,779,264.55 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 36,779,264.55 | |
| Interest - Class A-2a Notes | $ | 208,667.57 | | | $ | 208,667.57 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 36,570,596.98 | |
| Interest - Class A-2b Notes | $ | 126,068.39 | | | $ | 126,068.39 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 36,444,528.59 | |
| Interest - Class A-3 Notes | $ | 2,021,659.83 | | | $ | 2,021,659.83 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,422,868.76 | |
| Interest - Class A-4 Notes | $ | 331,250.00 | | | $ | 331,250.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,091,618.76 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,091,618.76 | |
| Interest - Class B Notes | $ | 196,742.00 | | | $ | 196,742.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,894,876.76 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,894,876.76 | |
| Interest - Class C Notes | $ | 141,581.67 | | | $ | 141,581.67 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,753,295.09 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,753,295.09 | |
| Regular Principal Payment | $ | 30,641,513.14 | | | $ | 30,641,513.14 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 3,111,781.95 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 3,111,781.95 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 3,111,781.95 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 37,431,326.98 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 30,641,513.14 | |
| Total | | | | | | | | | $ | 30,641,513.14 | |
| | | | | | | | | |
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 | $ | 19,991,467.30 | | | $ | 66.56 | | | $ | 208,667.57 | | | $ | 0.69 | | | $ | 20,200,134.87 | | | $ | 67.25 | |
| Class A-2b Notes | $ | 10,650,045.84 | | | $ | 66.56 | | | $ | 126,068.39 | | | $ | 0.79 | | | $ | 10,776,114.23 | | | $ | 67.35 | |
| Class A-3 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 2,021,659.83 | | | $ | 4.39 | | | $ | 2,021,659.83 | | | $ | 4.39 | |
| Class A-4 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 331,250.00 | | | $ | 4.42 | | | $ | 331,250.00 | | | $ | 4.42 | |
| Class B Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 196,742.00 | | | $ | 4.98 | | | $ | 196,742.00 | | | $ | 4.98 | |
| Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 141,581.67 | | | $ | 5.38 | | | $ | 141,581.67 | | | $ | 5.38 | |
| Total | $ | 30,641,513.14 | | | $ | 23.29 | | | $ | 3,025,969.46 | | | $ | 2.30 | | | $ | 33,667,482.60 | | | $ | 25.59 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 18 | |
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 | $ | 46,629,625.68 | | | 0.1552561 | | $ | 26,638,158.38 | | | 0.0886933 |
| Class A-2b Notes | $ | 24,840,980.57 | | | 0.1552561 | | $ | 14,190,934.73 | | | 0.0886933 |
| Class A-3 Notes | $ | 460,340,000.00 | | | 1.0000000 | | $ | 460,340,000.00 | | | 1.0000000 |
| Class A-4 Notes | $ | 75,000,000.00 | | | 1.0000000 | | $ | 75,000,000.00 | | | 1.0000000 |
| Class B Notes | $ | 39,480,000.00 | | | 1.0000000 | | $ | 39,480,000.00 | | | 1.0000000 |
| Class C Notes | $ | 26,300,000.00 | | | 1.0000000 | | $ | 26,300,000.00 | | | 1.0000000 |
| Total | $ | 672,590,606.25 | | | 0.5111725 | | $ | 641,949,093.11 | | | 0.4878848 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 3.971 | % | | 3.992 | % |
| Weighted Average Remaining Term | 41.39 | | 40.64 |
| Number of Receivables Outstanding | 31,444 | | 30,694 |
| Pool Balance | $ | 782,474,918.21 | | | $ | 747,598,767.55 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 706,696,146.89 | | | $ | 675,531,491.49 | |
| Pool Factor | 0.5318324 | | 0.5081278 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,947,367.68 | |
| Yield Supplement Overcollateralization Amount | $ | 72,067,276.06 | |
| Targeted Overcollateralization Amount | $ | 105,649,674.44 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 105,649,674.44 | |
| |
VII. RECONCILIATION OF RESERVE ACCOUNT
| | | | | |
| Beginning Reserve Account Balance | $ | 3,947,367.68 | |
| Reserve Account Deposits Made | $ | 0.00 | |
| Reserve Account Draw Amount | $ | 0.00 | |
| Ending Reserve Account Balance | $ | 3,947,367.68 | |
| Change in Reserve Account Balance | $ | 0.00 | |
| Specified Reserve Balance | $ | 3,947,367.68 | |
| |
Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 18 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 72 | | $ | 208,086.85 | |
| (Recoveries) | | | 43 | | $ | 85,221.63 | |
| Net Loss for Current Collection Period | | | | | $ | 122,865.22 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 0.1884 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 0.7305 | % |
| Second Prior Collection Period | | 0.5926 | % |
| Prior Collection Period | | | | | 0.4014 | % |
| Current Collection Period | | | | | 0.1927 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.4793 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 1,153 | | $ | 5,687,339.87 | |
| (Cumulative Recoveries) | | | | | $ | 540,959.49 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 5,146,380.38 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.3498 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 4,932.65 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 4,463.47 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 1.20 | % | | 248 | | $ | 8,973,090.18 | |
| 61-90 Days Delinquent | 0.19 | % | | 43 | | $ | 1,419,757.46 | |
| 91-120 Days Delinquent | 0.06 | % | | 11 | | $ | 457,497.28 | |
| Over 120 Days Delinquent | 0.08 | % | | 13 | | $ | 586,025.61 | |
| Total Delinquent Receivables | 1.53 | % | | 315 | | $ | 11,436,370.53 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 15 | | $ | 601,752.84 | |
| Total Repossessed Inventory | | | 28 | | $ | 1,161,109.83 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.1709 | % |
| Prior Collection Period | | | | | 0.1717 | % |
| Current Collection Period | | | | | 0.2183 | % |
| Three Month Average | | | | | 0.1870 | % |
| | | | | |
| 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 | | | | | 0.3295 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 18 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 89 | $2,963,452.95 |
| 2 Months Extended | | | 136 | $4,620,437.77 |
| 3+ Months Extended | | | 25 | $904,799.01 |
| | | | |
| Total Receivables Extended | 250 | $8,488,689.73 |
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