Exhibit 99.1

 

World Omni Auto Receivables Trust 2023-C

Monthly Servicer Certificate

May 31, 2026

 

Dates Covered            
Collections Period   05/01/26 - 05/31/26           
Interest Accrual Period   05/15/26 - 06/14/26           
30/360 Days   30           
Actual/360 Days   31           
Distribution Date   06/15/26           
                
Collateral Pool Balance Data   $ Amount    # of Accounts      
Pool Balance at 04/30/26   247,765,873.63    16,861      
Yield Supplement Overcollateralization Amount 04/30/26   14,203,742.19    0      
Receivables Balance 04/30/26   261,969,615.82    16,861      
Principal Payments   13,922,831.77    701      
Defaulted Receivables   443,618.24    21      
Repurchased Accounts   0.00    0      
Yield Supplement Overcollateralization Amount at 05/31/26   13,083,527.39    0      
Pool Balance at 05/31/26   234,519,638.42    16,139      
                
Pool Statistics   $ Amount    # of Accounts      
Pool Factor   21.28%          
Prepayment ABS Speed   1.28%          
Aggregate Starting Principal Balance   1,163,498,581.79    43,008      
                
Delinquent Receivables:               
Past Due 31-60 days   6,434,478.81    298      
Past Due 61-90 days   1,922,612.16    88      
Past Due 91-120 days   367,439.25    19      
Past Due 121+ days   0.00    0      
Total   8,724,530.22    405      
                
Total 31+ Delinquent as % Aggregate Ending Principal Balance   3.52%          
Total 61+ Delinquent as % Aggregate Ending Principal Balance   0.92%          
Delinquency Trigger Occurred   NO           
                
Recoveries   398,712.31           
Aggregate Net Losses/(Gains) - May 2026   44,905.93           
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):               
Current Net Losses/(Gains) Ratio   0.21%          
Prior Net Losses/(Gains) Ratio   0.15%          
Second Prior Net Losses/(Gains) Ratio   0.16%          
Third Prior Net Losses/(Gains) Ratio   1.44%          
Four Month Average   0.49%          
                
Cumulative Net Loss as a % of Aggregate Starting Principal Balance   0.78%          
                
Overcollateralization Target Amount   5,206,702.45           
Actual Overcollateralization   5,206,702.45           
Weighted Average Contract Rate   6.29%          
Weighted Average Contract Rate, Yield Adjusted   10.74%          
Weighted Average Remaining Term   31.78           
                
Flow of Funds   $ Amount           
Collections   15,661,210.69           
Investment Earnings on Cash Accounts   9,363.34           
Servicing Fee   (218,308.01)          
Transfer to Collection Account   -           
Available Funds   15,452,266.02           
                
Distributions of Available Funds               
(1)    Asset Representation Reviewer Amounts (up to $150,000 per year)   -           
(2)    Class A Interest   831,518.53           
(3)    Noteholders' First Priority Principal Distributable Amount   -           
(4)    Class B Interest   139,360.00           
(5)    Noteholders' Second Priority Principal Distributable Amount   -           
(6)    Class C Interest   71,859.58           
(7)    Noteholders' Third Priority Principal Distributable Amount   8,039,532.76           
(8)    Required Reserve Account   -           
(9)    Noteholders' Principal Distributable Amount   5,206,702.45           
(10)  Asset Representation Reviewer Amounts (in excess of 1)   -           
(11)  Distribution to Certificateholders   1,163,292.70           
                
Total Distributions of Available Funds   15,452,266.02           
                
Servicing Fee   218,308.01           
Unpaid Servicing Fee   -           
Change in amount of the unpaid servicing fee from the prior period   -           

 

 

 

 

Note Balances & Note Factors   $ Amount           
Original Class A   991,900,000.00           
Original Class B   31,200,000.00           
Original Class C   15,650,000.00           
                
Total Class A, B, & C               
Note Balance @ 05/15/26   242,559,171.18           
Principal Paid   13,246,235.21           
Note Balance @ 06/15/26   229,312,935.97           
                
Class A-1               
Note Balance @ 05/15/26   0.00           
Principal Paid   0.00           
Note Balance @ 06/15/26   0.00           
Note Factor @ 06/15/26   0.0000000%          
                
Class A-2a               
Note Balance @ 05/15/26   0.00           
Principal Paid   0.00           
Note Balance @ 06/15/26   0.00           
Note Factor @ 06/15/26   0.0000000%          
                
Class A-2b               
Note Balance @ 05/15/26   0.00           
Principal Paid   0.00           
Note Balance @ 06/15/26   0.00           
Note Factor @ 06/15/26   0.0000000%          
                
Class A-3               
Note Balance @ 05/15/26   111,709,171.18           
Principal Paid   13,246,235.21           
Note Balance @ 06/15/26   98,462,935.97           
Note Factor @ 06/15/26   31.1296035%          
                
Class A-4               
Note Balance @ 05/15/26   84,000,000.00           
Principal Paid   0.00           
Note Balance @ 06/15/26   84,000,000.00           
Note Factor @ 06/15/26   100.0000000%          
                
Class B               
Note Balance @ 05/15/26   31,200,000.00           
Principal Paid   0.00           
Note Balance @ 06/15/26   31,200,000.00           
Note Factor @ 06/15/26   100.0000000%          
                
Class C               
Note Balance @ 05/15/26   15,650,000.00           
Principal Paid   0.00           
Note Balance @ 06/15/26   15,650,000.00           
Note Factor @ 06/15/26   100.0000000%          
                
Interest & Principal Payments   $ Amount           
Total Interest Paid   1,042,738.11           
Total Principal Paid   13,246,235.21           
Total Paid   14,288,973.32           
                
Class A-1               
Coupon   5.60700%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-1 Holders   0.00           
                
Class A-2a               
Coupon   5.57000%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-2a Holders   0.00           
                
Class A-2b               
SOFR Rate   3.64285%          
Coupon   4.05285%          
Interest Paid   0.00           
Principal Paid   0.00           
Total Paid to A-2b Holders   0.00           
                
Class A-3               
Coupon   5.15000%          
Interest Paid   479,418.53           
Principal Paid   13,246,235.21           
Total Paid to A-3 Holders   13,725,653.74           
                
Class A-4               
Coupon   5.03000%          
Interest Paid   352,100.00           
Principal Paid   0.00           
Total Paid to A-4 Holders   352,100.00           
                
Class B               
Coupon   5.36000%          
Interest Paid   139,360.00           
Principal Paid   0.00           
Total Paid to B Holders   139,360.00           
                
Class C               
Coupon   5.51000%          
Interest Paid   71,859.58           
Principal Paid   0.00           
Total Paid to C Holders   71,859.58           

 

 

 

 

Distribution per $1,000 of Notes   Total            
Total Interest Distribution Amount   1.0038393           
Total Interest Carryover Shortfall   0.0000000           
Total Principal Distribution Amount   12.7520917           
Total Distribution Amount   13.7559310           
                
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   1.5157083           
A-3 Interest Carryover Shortfall   0.0000000           
A-3 Principal Distribution Amount   41.8787076           
Total A-3 Distribution Amount   43.3944159           
                
A-4 Interest Distribution Amount   4.1916667           
A-4 Interest Carryover Shortfall   0.0000000           
A-4 Principal Distribution Amount   0.0000000           
Total A-4 Distribution Amount   4.1916667           
                
B Interest Distribution Amount   4.4666667           
B Interest Carryover Shortfall   0.0000000           
B Principal Distribution Amount   0.0000000           
Total B Distribution Amount   4.4666667           
                
C Interest Distribution Amount   4.5916665           
C Interest Carryover Shortfall   0.0000000           
C Principal Distribution Amount   0.0000000           
Total C Distribution Amount   4.5916665           
                
Noteholders' First Priority Principal Distributable Amount   0.00           
Noteholders' Second Priority Principal Distributable Amount   0.00           
Noteholders' Third Priority Principal Distributable Amount   606.93           
Noteholders' Principal Distributable Amount   393.07           
                
Account Balances   $ Amount           
Reserve Account               
Balance as of 05/15/26   2,603,351.22           
Investment Earnings   7,739.21           
Investment Earnings Paid   (7,739.21)          
Deposit/(Withdrawal)   -           
Balance as of 06/15/26   2,603,351.22           
Change   -           
                
Required Reserve Amount   2,603,351.22           
                
Other Servicing Information   Current Month    Prior Month    Two Months Prior 
Principal Balance of Receivables extended during the Collection Period  $1,683,296.04    1,552,297.60    1,854,257.73 
Number of Extensions   77    71    88 
Ratio of extensions to Beginning of Period Receivables Balance   0.64%   0.56%   0.63%