Exhibit 99.1

 

World Omni Auto Receivables Trust 2023-B
Monthly Servicer Certificate
June 30, 2025

 

Dates Covered            
Collections Period   06/01/25 - 06/30/25           
Interest Accrual Period   06/16/25 - 07/14/25           
30/360 Days   30           
Actual/360 Days   29           
Distribution Date   07/15/25           

 

Collateral Pool Balance Data   $ Amount    # of Accounts      
Pool Balance at 05/31/25   373,773,011.04    21,110      
Yield Supplement Overcollateralization Amount 05/31/25   24,864,001.10    0      
Receivables Balance 05/31/25   398,637,012.14    21,110      
Principal Payments   17,838,026.24    485      
Defaulted Receivables   467,331.18    23      
Repurchased Accounts   0.00    0      
Yield Supplement Overcollateralization Amount at 06/30/25   23,212,607.31    0      
Pool Balance at 06/30/25   357,119,047.41    20,602      
                
Pool Statistics   $ Amount    # of Accounts      
Pool Factor   32.71%          
Prepayment ABS Speed   1.29%          
Aggregate Starting Principal Balance   1,162,826,061.02    44,579      
                
Delinquent Receivables:               
Past Due 31-60 days   7,542,879.86    311      
Past Due 61-90 days   2,202,067.96    85      
Past Due 91-120 days   207,304.71    14      
Past Due 121+ days   0.00    0      
Total   9,952,252.53    410      
                
Total 31+ Delinquent as % Aggregate Ending Principal Balance   2.62%          
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.63%          
Delinquency Trigger Occurred   NO           
                
Recoveries   437,630.10           
Aggregate Net Losses/(Gains) - June 2025   29,701.08           
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):               
Current Net Losses/(Gains) Ratio   0.09%          
Prior Net Losses/(Gains) Ratio   0.25%          
Second Prior Net Losses/(Gains) Ratio   0.10%          
Third Prior Net Losses/(Gains) Ratio   0.37%          
Four Month Average   0.20%          
                
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   0.61%          
                
Overcollateralization Target Amount   5,232,239.66           
Actual Overcollateralization   5,232,239.66           
Weighted Average Contract Rate   5.82%          
Weighted Average Contract Rate, Yield Adjusted   10.13%          
Weighted Average Remaining Term   38.28           
                
Flow of Funds   $ Amount           
Collections   20,202,894.03           
Investment Earnings on Cash Accounts   11,635.63           
Servicing Fee   (332,197.51)          
Transfer to Collection Account   -           
Available Funds   19,882,332.15           
                
Distributions of Available Funds               
    (1)  Asset Representation Reviewer Amounts (up to $150,000 per year)   -           
    (2)  Class A Interest   1,249,803.50           
    (3)  Noteholders' First Priority Principal Distributable Amount   -           
    (4)  Class B Interest   127,914.25           
    (5)  Noteholders' Second Priority Principal Distributable Amount   -           
    (6)  Class C Interest   67,288.50           
    (7)  Noteholders' Third Priority Principal Distributable Amount   11,421,723.97           
    (8)  Required Reserve Account   -           
    (9)  Noteholders' Principal Distributable Amount   5,232,239.66           
   (10)  Asset Representation Reviewer Amounts (in excess of 1)   -           
   (11)  Distribution to Certificateholders   1,783,362.27           
                
Total Distributions of Available Funds   19,882,332.15           
                
Servicing Fee   332,197.51           
Unpaid Servicing Fee   -           
Change in amount of the unpaid servicing fee from the prior period   -           

 

 

 

 

Note Balances & Note Factors   $ Amount           
Original Class A   996,700,000.00           
Original Class B   31,390,000.00           
Original Class C   15,740,000.00           
                
Total Class A, B, & C               
Note Balance @ 06/16/25   368,540,771.38           
Principal Paid   16,653,963.63           
Note Balance @ 07/15/25   351,886,807.75           
                
Class A-1               
Note Balance @ 06/16/25   0.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   0.00           
Note Factor @ 07/15/25   0.0000000%          
                
Class A-2a               
Note Balance @ 06/16/25   0.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   0.00           
Note Factor @ 07/15/25   0.0000000%          
                
Class A-2b               
Note Balance @ 06/16/25   0.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   0.00           
Note Factor @ 07/15/25   0.0000000%          
                
Class A-3               
Note Balance @ 06/16/25   221,910,771.38           
Principal Paid   16,653,963.63           
Note Balance @ 07/15/25   205,256,807.75           
Note Factor @ 07/15/25   69.0635289%          
                
Class A-4               
Note Balance @ 06/16/25   99,500,000.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   99,500,000.00           
Note Factor @ 07/15/25   100.0000000%          
                
Class B               
Note Balance @ 06/16/25   31,390,000.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   31,390,000.00           
Note Factor @ 07/15/25   100.0000000%          
                
Class C               
Note Balance @ 06/16/25   15,740,000.00           
Principal Paid   0.00           
Note Balance @ 07/15/25   15,740,000.00           
Note Factor @ 07/15/25   100.0000000%          
                
Interest & Principal Payments   $ Amount           
Total Interest Paid   1,445,006.25           
Total Principal Paid   16,653,963.63           
Total Paid   18,098,969.88           
                
Class A-1               
Coupon   5.31600%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-1 Holders   0.00           
                
Class A-2a               
Coupon   5.25000%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-2a Holders   0.00           
                
Class A-2b               
SOFR Rate   4.30385%          
Coupon   5.01385%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-2b Holders   0.00           
                
Class A-3               
Coupon   4.66000%          
Interest Paid   861,753.50           
Principal Paid   16,653,963.63           
Total Paid to A-3 Holders   17,515,717.13           
                
Class A-4               
Coupon   4.68000%          
Interest Paid   388,050.00           
Principal Paid   0.00           
Total Paid to A-4 Holders   388,050.00           
                
Class B               
Coupon   4.89000%          
Interest Paid   127,914.25           
Principal Paid   0.00           
Total Paid to B Holders   127,914.25           

 

 

 

 

Class C               
Coupon   5.13000%          
Interest Paid   67,288.50           
Principal Paid   0.00           
Total Paid to C Holders   67,288.50           
                
Distribution per $1,000 of Notes    Total            
Total Interest Distribution Amount   1.3843310           
Total Interest Carryover Shortfall   0.0000000           
Total Principal Distribution Amount   15.9546704           
Total Distribution Amount   17.3390014           
                
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   2.8995744           
A-3 Interest Carryover Shortfall   0.0000000           
A-3 Principal Distribution Amount   56.0362168           
Total A-3 Distribution Amount   58.9357912           
                
A-4 Interest Distribution Amount   3.9000000           
A-4 Interest Carryover Shortfall   0.0000000           
A-4 Principal Distribution Amount   0.0000000           
Total A-4 Distribution Amount   3.9000000           
                
B Interest Distribution Amount   4.0750000           
B Interest Carryover Shortfall   0.0000000           
B Principal Distribution Amount   0.0000000           
Total B Distribution Amount   4.0750000           
                
C Interest Distribution Amount   4.2750000           
C Interest Carryover Shortfall   0.0000000           
C Principal Distribution Amount   0.0000000           
Total C Distribution Amount   4.2750000           
                
Noteholders' First Priority Principal Distributable Amount   0.00           
Noteholders' Second Priority Principal Distributable Amount   0.00           
Noteholders' Third Priority Principal Distributable Amount   685.83           
Noteholders' Principal Distributable Amount   314.17           
                
Account Balances   $ Amount           
Reserve Account               
Balance as of 06/16/25   2,616,119.83           
Investment Earnings   9,141.98           
Investment Earnings Paid   (9,141.98)          
Deposit/(Withdrawal)   -           
Balance as of 07/15/25   2,616,119.83           
Change   -           
                
Required Reserve Amount   2,616,119.83           
                
Other Servicing Information   Current Month    Prior Month    Two Months Prior 
Principal Balance of Receivables extended during the Collection Period  $1,762,008.26   $1,988,881.86   $2,550,606.15 
Number of Extensions   77    81    99 
Ratio of extensions to Beginning of Period Receivables Balance   0.44%   0.48%   0.58%