Ford Credit Auto Owner Trust 2022-D
01/22/2025 | Press release | Distributed by Public on 01/22/2025 08:53
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| Collection Period | December 2024 |
| Payment Date | 1/15/2025 |
| Transaction Month | 26 |
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 | 5.35757 | % | * | 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 | $ | 1,866,961.01 |
| Principal: | ||
| Principal Collections | $ | 18,777,814.31 |
| Prepayments in Full | $ | 7,526,128.51 |
| Liquidation Proceeds | $ | 451,155.49 |
| Recoveries | $ | 22,268.44 |
| Sub Total | $ | 26,777,366.75 |
| Collections | $ | 28,644,327.76 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 170,558.14 |
| Purchase Amounts Related to Interest | $ | 766.55 |
| Sub Total | $ | 171,324.69 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $28,815,652.45 |
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Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| Collection Period | December 2024 |
| Payment Date | 1/15/2025 |
| Transaction Month | 26 |
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 | $ | 28,815,652.45 |
| Servicing Fee | $ | 448,864.26 | $ | 448,864.26 | $ | 0.00 | $ | 0.00 | $ | 28,366,788.19 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 28,366,788.19 |
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 28,366,788.19 |
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 28,366,788.19 |
| Interest - Class A-3 Notes | $ | 1,397,854.47 | $ | 1,397,854.47 | $ | 0.00 | $ | 0.00 | $ | 26,968,933.72 |
| Interest - Class A-4 Notes | $ | 331,250.00 | $ | 331,250.00 | $ | 0.00 | $ | 0.00 | $ | 26,637,683.72 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 26,637,683.72 |
| Interest - Class B Notes | $ | 196,742.00 | $ | 196,742.00 | $ | 0.00 | $ | 0.00 | $ | 26,440,941.72 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 26,440,941.72 |
| Interest - Class C Notes | $ | 141,581.67 | $ | 141,581.67 | $ | 0.00 | $ | 0.00 | $ | 26,299,360.05 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 26,299,360.05 |
| Regular Principal Payment | $ | 24,367,122.82 | $ | 24,367,122.82 | $ | 0.00 | $ | 0.00 | $ | 1,932,237.23 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,932,237.23 |
| Residual Released to Depositor | $ | 0.00 | $ | 1,932,237.23 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 28,815,652.45 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 24,367,122.82 | ||||||||
| Total | $ | 24,367,122.82 | ||||||||
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 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-3 Notes | $ | 24,367,122.82 | $ | 52.93 | $ | 1,397,854.47 | $ | 3.04 | $ | 25,764,977.29 | $ | 55.97 |
| 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 | $ | 24,367,122.82 | $ | 18.52 | $ | 2,067,428.14 | $ | 1.57 | $ | 26,434,550.96 | $ | 20.09 |
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Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| Collection Period | December 2024 |
| Payment Date | 1/15/2025 |
| Transaction Month | 26 |
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 | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-2b Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-3 Notes | $ | 318,297,033.71 | 0.6914390 | $ | 293,929,910.89 | 0.6385061 |
| 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 | $ | 459,077,033.71 | 0.3489011 | $ | 434,709,910.89 | 0.3303819 |
| Pool Information | ||||
| Weighted Average APR | 4.136 | % | 4.169 | % |
| Weighted Average Remaining Term | 35.49 | 34.79 | ||
| Number of Receivables Outstanding | 25,480 | 24,813 | ||
| Pool Balance | $ | 538,637,113.32 | $ | 511,002,046.90 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 489,525,007.28 | $ | 464,743,358.46 |
| Pool Factor | 0.3661008 | 0.3473178 | ||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,367.68 |
| Yield Supplement Overcollateralization Amount | $ | 46,258,688.44 |
| Targeted Overcollateralization Amount | $ | 76,292,136.01 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 76,292,136.01 |
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 |
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Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| Collection Period | December 2024 |
| Payment Date | 1/15/2025 |
| Transaction Month | 26 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 76 | $ | 709,409.97 | ||
| (Recoveries) | 58 | $ | 22,268.44 | ||
| Net Loss for Current Collection Period | $ | 687,141.53 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 1.5308 | % | |||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.2837 | % | |||
| Second Prior Collection Period | 1.1983 | % | |||
| Prior Collection Period | 0.8019 | % | |||
| Current Collection Period | 1.5711 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.9638 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 1,733 | $ | 9,355,717.22 | ||
| (Cumulative Recoveries) | $ | 1,318,177.16 | |||
| Cumulative Net Loss for All Collection Periods | $ | 8,037,540.06 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.5463 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 5,398.57 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 4,637.93 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 1.71 | % | 301 | $ | 8,760,001.80 |
| 61-90 Days Delinquent | 0.27 | % | 48 | $ | 1,380,692.70 |
| 91-120 Days Delinquent | 0.08 | % | 12 | $ | 430,076.66 |
| Over 120 Days Delinquent | 0.17 | % | 23 | $ | 844,633.27 |
| Total Delinquent Receivables | 2.23 | % | 384 | $ | 11,415,404.43 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 13 | $ | 560,338.75 | ||
| Total Repossessed Inventory | 20 | $ | 910,857.06 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.3330 | % | |||
| Prior Collection Period | 0.3807 | % | |||
| Current Collection Period | 0.3345 | % | |||
| Three Month Average | 0.3494 | % | |||
| 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 | 0.5196 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2022-D
Monthly Investor Report
| Collection Period | December 2024 |
| Payment Date | 1/15/2025 |
| Transaction Month | 26 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 102 | $3,036,298.07 |
| 2 Months Extended | 169 | $5,298,247.34 |
| 3+ Months Extended | 34 | $862,966.37 |
| Total Receivables Extended | 305 | $9,197,511.78 |
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
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