Exhibit 99.1
World Omni Auto Receivables Trust 2023-B | |||
Monthly Servicer Certificate | |||
August 31, 2025 | |||
Dates Covered | |||
Collections Period | 08/01/25 - 08/31/25 | ||
Interest Accrual Period | 08/15/25 - 09/14/25 | ||
30/360 Days | 30 | ||
Actual/360 Days | 31 | ||
Distribution Date | 09/15/25 |
Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||||
Pool Balance at 07/31/25 | 339,833,798.50 | 20,040 | ||||||||||
Yield Supplement Overcollateralization Amount 07/31/25 | 21,569,741.36 | 0 | ||||||||||
Receivables Balance 07/31/25 | 361,403,539.86 | 20,040 | ||||||||||
Principal Payments | 17,133,121.07 | 493 | ||||||||||
Defaulted Receivables | 613,523.50 | 33 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 08/31/25 | 20,035,275.01 | 0 | ||||||||||
Pool Balance at 08/31/25 | 323,621,620.28 | 19,514 | ||||||||||
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 29.55 | % | ||||||||||
Prepayment ABS Speed | 1.31 | % | ||||||||||
Aggregate Starting Principal Balance | 1,162,826,061.02 | 44,579 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 6,583,287.09 | 257 | ||||||||||
Past Due 61-90 days | 2,556,929.04 | 96 | ||||||||||
Past Due 91-120 days | 399,609.30 | 18 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 9,539,825.43 | 371 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 2.78 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.86 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 382,349.96 | |||||||||||
Aggregate Net Losses/(Gains) - August 2025 | 231,173.54 | |||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | 0.77 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | 0.06 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | 0.09 | % | ||||||||||
Third Prior Net Losses/(Gains) Ratio | 0.25 | % | ||||||||||
Four Month Average | 0.29 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.63 | % | ||||||||||
Overcollateralization Target Amount | 5,232,239.66 | |||||||||||
Actual Overcollateralization | 5,232,239.66 | |||||||||||
Weighted Average Contract Rate | 5.84 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 10.13 | % | ||||||||||
Weighted Average Remaining Term | 36.59 | |||||||||||
Flow of Funds | $ Amount | |||||||||||
Collections | 19,257,181.84 | |||||||||||
Investment Earnings on Cash Accounts | 11,862.44 | |||||||||||
Servicing Fee | (301,169.62 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 18,967,874.66 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||||
(2) Class A Interest | 1,118,006.22 | |||||||||||
(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 | 10,979,938.56 | |||||||||||
(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 | 1,442,487.47 | |||||||||||
Total Distributions of Available Funds | 18,967,874.66 | |||||||||||
Servicing Fee | 301,169.62 | |||||||||||
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 @ 08/15/25 | 334,601,558.84 | |||||||||||
Principal Paid | 16,212,178.22 | |||||||||||
Note Balance @ 09/15/25 | 318,389,380.62 | |||||||||||
Class A-1 | ||||||||||||
Note Balance @ 08/15/25 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 0.00 | |||||||||||
Note Factor @ 09/15/25 | 0.0000000 | % | ||||||||||
Class A-2a | ||||||||||||
Note Balance @ 08/15/25 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 0.00 | |||||||||||
Note Factor @ 09/15/25 | 0.0000000 | % | ||||||||||
Class A-2b | ||||||||||||
Note Balance @ 08/15/25 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 0.00 | |||||||||||
Note Factor @ 09/15/25 | 0.0000000 | % | ||||||||||
Class A-3 | ||||||||||||
Note Balance @ 08/15/25 | 187,971,558.84 | |||||||||||
Principal Paid | 16,212,178.22 | |||||||||||
Note Balance @ 09/15/25 | 171,759,380.62 | |||||||||||
Note Factor @ 09/15/25 | 57.7925238 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 08/15/25 | 99,500,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 99,500,000.00 | |||||||||||
Note Factor @ 09/15/25 | 100.0000000 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 08/15/25 | 31,390,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 31,390,000.00 | |||||||||||
Note Factor @ 09/15/25 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 08/15/25 | 15,740,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 15,740,000.00 | |||||||||||
Note Factor @ 09/15/25 | 100.0000000 | % | ||||||||||
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 1,313,208.97 | |||||||||||
Total Principal Paid | 16,212,178.22 | |||||||||||
Total Paid | 17,525,387.19 | |||||||||||
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 | 4.34270 | % | ||||||||||
Coupon | 5.05270 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-2b Holders | 0.00 | |||||||||||
Class A-3 | ||||||||||||
Coupon | 4.66000 | % | ||||||||||
Interest Paid | 729,956.22 | |||||||||||
Principal Paid | 16,212,178.22 | |||||||||||
Total Paid to A-3 Holders | 16,942,134.44 | |||||||||||
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 | 1.2580679 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 15.5314354 | |||||||||||
Total Distribution Amount | 16.7895033 | |||||||||||
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 | 2.4561111 | |||||||||||
A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-3 Principal Distribution Amount | 54.5497248 | |||||||||||
Total A-3 Distribution Amount | 57.0058359 | |||||||||||
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 | 677.26 | |||||||||||
Noteholders' Principal Distributable Amount | 322.74 |
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 08/15/25 | 2,616,119.83 | |||||||||||
Investment Earnings | 9,437.77 | |||||||||||
Investment Earnings Paid | (9,437.77 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 09/15/25 | 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 | $ | 2,728,950.67 | $ | 2,706,198.22 | $ | 1,762,008.26 | ||||||
Number of Extensions | 116 | 115 | 77 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.76 | % | 0.71 | % | 0.44 | % |