Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 28 | |
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 | $ | 1,146,189,073.03 | | | 34,997 | | | 56.9 months |
| | | | | |
| Dollar Amount | | Note Interest Rate | | Final Scheduled Payment Date |
| Original Securities: | | | | | |
| Class A-1 Notes | $ | 182,190,000.00 | | | 0.23886 | % | | February 15, 2023 |
| Class A-2 Notes | $ | 361,420,000.00 | | | 0.73 | % | | September 15, 2024 |
| Class A-3 Notes | $ | 361,420,000.00 | | | 1.29 | % | | June 15, 2026 |
| Class A-4 Notes | $ | 95,040,000.00 | | | 1.56 | % | | May 15, 2027 |
| Class B Notes | $ | 31,560,000.00 | | | 1.91 | % | | July 15, 2027 |
| Class C Notes | $ | 21,020,000.00 | | | 2.14 | % | | July 15, 2029 |
| | | | | |
| Total | $ | 1,052,650,000.00 | | | | | |
| | | |
II. AVAILABLE FUNDS
| | | | | |
| Interest: | |
| Interest Collections | $ | 893,115.03 | |
| |
| Principal: | |
| Principal Collections | $ | 13,847,689.96 | |
| Prepayments in Full | $ | 5,784,564.44 | |
| Liquidation Proceeds | $ | 184,558.04 | |
| Recoveries | $ | 82,825.79 | |
| Sub Total | $ | 19,899,638.23 | |
| Collections | $ | 20,792,753.26 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 163,564.32 | |
| Purchase Amounts Related to Interest | $ | 800.08 | |
| Sub Total | $ | 164,364.40 | |
| |
| Clean-up Call | $ | 0.00 | |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $ | 20,957,117.66 | |
Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 28 | |
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 | | | $ | 20,957,117.66 | |
| Servicing Fee | $ | 332,399.63 | | | $ | 332,399.63 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,624,718.03 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,624,718.03 | |
| Interest - Class A-2 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,624,718.03 | |
| Interest - Class A-3 Notes | $ | 213,357.48 | | | $ | 213,357.48 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,411,360.55 | |
| Interest - Class A-4 Notes | $ | 123,552.00 | | | $ | 123,552.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,287,808.55 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,287,808.55 | |
| Interest - Class B Notes | $ | 50,233.00 | | | $ | 50,233.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,237,575.55 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,237,575.55 | |
| Interest - Class C Notes | $ | 37,485.67 | | | $ | 37,485.67 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,200,089.88 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,200,089.88 | |
| Regular Principal Payment | $ | 18,166,113.18 | | | $ | 18,166,113.18 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,033,976.70 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,033,976.70 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 2,033,976.70 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| | | | | | | | | |
| Total | | | $ | 20,957,117.66 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 18,166,113.18 | |
| Total | | | | | | | | | $ | 18,166,113.18 | |
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-2 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Class A-3 Notes | $ | 18,166,113.18 | | | $ | 50.26 | | | $ | 213,357.48 | | | $ | 0.59 | | | $ | 18,379,470.66 | | | $ | 50.85 | |
| Class A-4 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 123,552.00 | | | $ | 1.30 | | | $ | 123,552.00 | | | $ | 1.30 | |
| Class B Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 50,233.00 | | | $ | 1.59 | | | $ | 50,233.00 | | | $ | 1.59 | |
| Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 37,485.67 | | | $ | 1.78 | | | $ | 37,485.67 | | | $ | 1.78 | |
| Total | $ | 18,166,113.18 | | | $ | 17.26 | | | $ | 424,628.15 | | | $ | 0.40 | | | $ | 18,590,741.33 | | | $ | 17.66 | |
Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 28 | |
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-2 Notes | $ | 0.00 | | | 0.0000000 | | $ | 0.00 | | | 0.0000000 |
| Class A-3 Notes | $ | 198,472,076.13 | | | 0.5491452 | | $ | 180,305,962.95 | | | 0.4988821 |
| Class A-4 Notes | $ | 95,040,000.00 | | | 1.0000000 | | $ | 95,040,000.00 | | | 1.0000000 |
| Class B Notes | $ | 31,560,000.00 | | | 1.0000000 | | $ | 31,560,000.00 | | | 1.0000000 |
| Class C Notes | $ | 21,020,000.00 | | | 1.0000000 | | $ | 21,020,000.00 | | | 1.0000000 |
| Total | $ | 346,092,076.13 | | | 0.3287817 | | $ | 327,925,962.95 | | | 0.3115242 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 2.575 | % | | 2.582 | % |
| Weighted Average Remaining Term | 34.60 | | 33.83 |
| Number of Receivables Outstanding | 20,196 | | 19,693 |
| Pool Balance | $ | 398,879,550.23 | | | $ | 378,794,410.33 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 370,496,809.52 | | | $ | 352,029,419.24 | |
| Pool Factor | 0.3480050 | | 0.3304816 |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 2,631,648.59 | |
| Yield Supplement Overcollateralization Amount | $ | 26,764,991.09 | |
| Targeted Overcollateralization Amount | $ | 50,868,447.38 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 50,868,447.38 | |
VII. RECONCILIATION OF RESERVE ACCOUNT
| | | | | |
| Beginning Reserve Account Balance | $ | 2,631,648.59 | |
| Reserve Account Deposits Made | $ | 0.00 | |
| Reserve Account Draw Amount | $ | 0.00 | |
| Ending Reserve Account Balance | $ | 2,631,648.59 | |
| Change in Reserve Account Balance | $ | 0.00 | |
| Specified Reserve Balance | $ | 2,631,648.59 | |
Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 28 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES | | | | | | | | | | | | | | | | | | | | |
| | | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | | |
| Realized Loss (Charge-Offs) | | | | 40 | | $ | 104,763.14 | |
| (Recoveries) | | | | 37 | | $ | 82,825.79 | |
| Net Loss for Current Collection Period | | | | | | $ | 21,937.35 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | 0.0660% |
| | | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | | |
| | | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | | |
| Third Prior Collection Period | | | | | | 0.2641 | % |
| Second Prior Collection Period | | 0.2509 | % |
| Prior Collection Period | | | | | | 0.5564 | % |
| Current Collection Period | | | | | | 0.0677 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | | 0.2848 | % |
| | | | | | |
| Cumulative Loss: | | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | | 978 | | $ | 4,193,269.55 | |
| (Cumulative Recoveries) | | | | | | $ | 834,140.04 | |
| Cumulative Net Loss for All Collection Periods | | | | | | $ | 3,359,129.51 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | | 0.2931 | % |
| | | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | | $ | 4,287.60 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | | $ | 3,434.69 | |
| | | | | | |
| % of EOP Pool Balance | | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | | |
| 31-60 Days Delinquent | 1.08 | % | | | 163 | | $ | 4,109,818.66 | |
| 61-90 Days Delinquent | 0.16 | % | | | 21 | | $ | 588,474.59 | |
| 91-120 Days Delinquent | 0.02 | % | | | 2 | | $ | 80,346.03 | |
| Over 120 Days Delinquent | 0.06 | % | | | 8 | | $ | 237,851.19 | |
| Total Delinquent Receivables | 1.32 | % | | | 194 | | $ | 5,016,490.47 | |
|
| Repossession Inventory: | | | | | | |
| Repossessed in the Current Collection Period | | | | 4 | | $ | 82,052.92 | |
| Total Repossessed Inventory | | | | 11 | | $ | 294,964.54 | |
| | | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | | 0.2326 | % |
| Prior Collection Period | | | | | | 0.1634 | % |
| Current Collection Period | | | | | | 0.1574 | % |
| Three Month Average | | | | | | 0.1845 | % |
| | | | | | |
| 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 | | | | | | 0.2394 | % |
| Delinquency Trigger Occurred | | | | | | No |
Ford Credit Auto Owner Trust 2022-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2024 |
| Payment Date | 5/15/2024 |
| Transaction Month | 28 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 44 | $977,713.65 |
| 2 Months Extended | | | 73 | $2,059,666.92 |
| 3+ Months Extended | | | 22 | $685,747.89 |
| | | | |
| Total Receivables Extended | | 139 | $3,723,128.46 |
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 |
|
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer