Capital One Prime Auto Receivables Trust 2022-2
01/15/2025 | Press release | Distributed by Public on 01/15/2025 11:36
Asset Backed Issuer Distribution Report (Form 10 D)
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2022-2
Statement to Securityholders
Determination Date: January 10, 2025
| Payment Date | 1/15/2025 |
| Collection Period Start | 12/1/2024 |
| Collection Period End | 12/31/2024 |
| Interest Period Start | 12/16/2024 |
| Interest Period End | 1/14/2025 |
| Cut-Off Date Net Pool Balance | $ | 2,066,663,591.84 |
| Cut-Off Date Adjusted Pool Balance | $ | 1,899,113,714.12 |
I. DEAL SUMMARY
|
Beginning Note Balance |
Principal Payment | Ending Note Balance | Note Factor | Final Scheduled Payment Date | ||||
| Class A-1 Notes | $ | - | $ | - | $ | - | - | Aug-23 |
| Class A-2a Notes | $ | - | $ | - | $ | - | - | Sep-25 |
| Class A-2b Notes | $ | - | $ | - | $ | - | - | Sep-25 |
| Class A-3 Notes | $ | 433,094,395.96 | $ | 32,172,587.91 | $ | 400,921,808.05 | 0.634571 | May-27 |
| Class A-4 Notes | $ | 160,110,000.00 | $ | - | $ | 160,110,000.00 | 1.000000 | Dec-27 |
| Class B Notes | $ | 19,000,000.00 | $ | - | $ | 19,000,000.00 | 1.000000 | Jan-28 |
| Class C Notes | $ | 19,000,000.00 | $ | - | $ | 19,000,000.00 | 1.000000 | Feb-28 |
| Class D Notes | $ | 19,000,000.00 | $ | - | $ | 19,000,000.00 | 1.000000 | Nov-28 |
| Total Notes | $ | 650,204,395.96 | $ | 32,172,587.91 | $ | 618,031,808.05 |
| Beginning Balance | Ending Balance | Pool Factor | |||
| Net Pool Balance | $ | 704,302,254.95 | $ | 669,249,104.87 | 0.323831 |
| YSOC Amount | $ | 49,350,074.70 | $ | 46,469,512.53 | |
| Adjusted Pool Balance | $ | 654,952,180.25 | $ | 622,779,592.34 | |
| Overcollateralization Amount (Adjusted Pool Balance - Note Balance) | $ | 4,747,784.29 | $ | 4,747,784.29 | |
| Reserve Account Balance | $ | 4,747,784.29 | $ | 4,747,784.29 |
|
Beginning Note Balance |
Interest Rate | Accrual Methodology | Interest Payment | |||
| Class A-1 Notes | $ | - | 2.87200% | ACT/360 | $ | - |
| Class A-2a Notes | $ | - | 3.74000% | 30/360 | $ | - |
| Class A-2b Notes | $ | - | 5.24757% | ACT/360 | $ | - |
| Class A-3 Notes | $ | 433,094,395.96 | 3.66000% | 30/360 | $ | 1,320,937.91 |
| Class A-4 Notes | $ | 160,110,000.00 | 3.69000% | 30/360 | $ | 492,338.25 |
| Class B Notes | $ | 19,000,000.00 | 4.27000% | 30/360 | $ | 67,608.33 |
| Class C Notes | $ | 19,000,000.00 | 4.67000% | 30/360 | $ | 73,941.67 |
| Class D Notes | $ | 19,000,000.00 | 5.40000% | 30/360 | $ | 85,500.00 |
| Total Notes | $ | 650,204,395.96 | $ | 2,040,326.16 |
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||
| Net Pool Balance | $ | 704,302,254.95 | $ | 669,249,104.87 |
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 654,952,180.25 | $ | 622,779,592.34 |
| Number of Receivables Outstanding | 56,620 | 55,498 | ||
| Weighted Average Contract Rate | 3.57 | % | 3.57 | % |
| Weighted Average Remaining Term (months) | 32.4 | 31.5 |
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | ||
| a. Collections | ||
| Interest Collections | $ | 2,060,650.74 |
| Principal Collections | $ | 34,689,775.62 |
| Liquidation Proceeds | $ | 245,469.88 |
| b. Repurchase Price | $ | - |
| c. Optional Purchase Price | $ | - |
| d. Reserve Account Excess Amount | $ | - |
| Total Available Funds | $ | 36,995,896.24 |
| Reserve Account Draw Amount | $ | - |
| Total Funds Available for Distribution | $ | 36,995,896.24 |
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | ||||||
| Servicing Fee | $ | 586,918.55 | $ | 586,918.55 | $ | - | $ | - | $ | 36,408,977.69 |
| Interest - Class A-1 Notes | $ | - | $ | - | $ | - | $ | - | $ | 36,408,977.69 |
| Interest - Class A-2a Notes | $ | - | $ | - | $ | - | $ | - | $ | 36,408,977.69 |
| Interest - Class A-2b Notes | $ | - | $ | - | $ | - | $ | - | $ | 36,408,977.69 |
| Interest - Class A-3 Notes | $ | 1,320,937.91 | $ | 1,320,937.91 | $ | - | $ | - | $ | 35,088,039.78 |
| Interest - Class A-4 Notes | $ | 492,338.25 | $ | 492,338.25 | $ | - | $ | - | $ | 34,595,701.53 |
| First Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 34,595,701.53 |
| Interest - Class B Notes | $ | 67,608.33 | $ | 67,608.33 | $ | - | $ | - | $ | 34,528,093.20 |
| Second Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 34,528,093.20 |
| Interest - Class C Notes | $ | 73,941.67 | $ | 73,941.67 | $ | - | $ | - | $ | 34,454,151.53 |
| Third Allocation of Principal | $ | 8,424,803.62 | $ | 8,424,803.62 | $ | - | $ | - | $ | 26,029,347.91 |
| Interest - Class D Notes | $ | 85,500.00 | $ | 85,500.00 | $ | - | $ | - | $ | 25,943,847.91 |
| Fourth Allocation of Principal | $ | 19,000,000.00 | $ | 19,000,000.00 | $ | - | $ | - | $ | 6,943,847.91 |
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 6,943,847.91 |
| Regular Principal Distribution Amount | $ | 4,747,784.29 | $ | 4,747,784.29 | $ | - | $ | - | $ | 2,196,063.62 |
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 2,196,063.62 |
| Remaining Funds to Certificates | $ | 2,196,063.62 | $ | 2,196,063.62 | $ | - | $ | - | $ | - |
| Total | $ | 36,995,896.24 | $ | 36,995,896.24 | $ | - | $ | - |
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | ||
| Beginning Period YSOC Amount | $ | 49,350,074.70 |
| Increase/(Decrease) | $ | (2,880,562.17) |
| Ending YSOC Amount | $ | 46,469,512.53 |
| Overcollateralization: | Beginning of Period | End of Period | ||
| Adjusted Pool Balance | $ | 654,952,180.25 | $ | 622,779,592.34 |
| Note Balance | $ | 650,204,395.96 | $ | 618,031,808.05 |
| Overcollateralization (Adjusted Pool Balance - Note Balance) | $ | 4,747,784.29 | $ | 4,747,784.29 |
| Target Overcollateralization Amount | $ | 4,747,784.29 | $ | 4,747,784.29 |
| Overcollateralization Shortfall | $ | - | $ | - |
VI. RESERVE ACCOUNT
| Specified Reserve Account Balance | $ | 4,747,784.29 |
| Beginning Reserve Account Balance | $ | 4,747,784.29 |
| Reserve Account Deposit Amount | $ | - |
| Reserve Account Draw Amount | $ | - |
| Reserve Account Excess Amount | $ | - |
| Ending Reserve Account Balance | $ | 4,747,784.29 |
VII. NET LOSS AND DELINQUENT RECEIVABLES
| Net Loss: | % of EOP Net Pool Balance | # of Receivables | Amount | |
| Defaulted Receivables during Collection Period (Principal Balance) | 0.05% | 23 | $ | 363,374.46 |
|
Liquidation Proceeds of Defaulted Receivables1
|
0.04% | 210 | $ | 245,469.88 |
| Monthly Net Losses (Liquidation Proceeds) | $ | 117,904.58 | ||
| Net Losses as % of Average Pool Balance (annualized) | ||||
| Third Preceding Collection Period | 0.26 | % | ||
| Second Preceding Collection Period | 0.27 | % | ||
| Preceding Collection Period | 0.39 | % | ||
| Current Collection Period | 0.21 | % | ||
| Four-Month Average Net Loss Ratio | 0.28 | % | ||
| Cumulative Net Losses for All Periods | $ | 5,544,222.53 | ||
| Cumulative Net Loss Ratio | 0.27 | % | ||
|
1 Liquidation Proceeds include all proceeds on a receivable after it has been charged-off.
|
||||
| Delinquent Receivables: | % of EOP Net Pool Balance | # of Receivables | Principal Balance | |
| 30-59 Days Delinquent | 0.51% | 209 | $ | 3,406,018.28 |
| 60-89 Days Delinquent | 0.20% | 73 | $ | 1,307,017.69 |
| 90-119 Days Delinquent | 0.05% | 21 | $ | 358,583.32 |
| 120+ Days Delinquent | 0.00% | 0 | $ | - |
| Total Delinquent Receivables | 0.76% | 303 | $ | 5,071,619.29 |
| Repossession Inventory: | # of Receivables | Principal Balance | ||
| Repossessed in the Current Collection Period | 7 | $ | 162,388.10 | |
| Total Repossessed Inventory | 15 | $ | 350,952.17 | |
| 60+ Delinquency Percentage: | # of Receivables | Amount | ||
| 60+ Day Delinquent Receivables | 94 | $ | 1,665,601.01 | |
| 60+ Delinquencies as % of EOP Net Pool Balance | ||||
| Third Preceding Collection Period | 0.16 | % | ||
| Second Preceding Collection Period | 0.16 | % | ||
| Preceding Collection Period | 0.19 | % | ||
| Current Collection Period | 0.25 | % | ||
| Delinquency Trigger | 4.50 | % | ||
| Current Delinquency Percentage Exceeds Delinquency Trigger? (Yes/No) | No |
VIII. TEMPORARY FORBEARANCE
The table below presents accounts which received a short-term payment extension in the month of December 2024.
| Month-End Balance | # of Receivables | |||
| ($MM) | (%) | (#) | (%) | |
| Total Extensions | 0.97 | 0.14% | 56 | 0.10% |