Capital One Prime Auto Receivables Trust 2022-1
03/17/2025 | Press release | Distributed by Public on 03/17/2025 09:15
Asset-Backed Issuer Distribution Report (Form 10-D)
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2022-1
Statement to Securityholders
Determination Date: March 12, 2025
| Payment Date | 3/17/2025 | ||||
| Collection Period Start | 2/1/2025 | ||||
| Collection Period End | 2/28/2025 | ||||
| Interest Period Start | 2/18/2025 | ||||
| Interest Period End | 3/16/2025 | ||||
| Cut-Off Date Net Pool Balance | $ | 2,025,808,403.15 | |||
| Cut-Off Date Adjusted Pool Balance | $ | 1,899,077,623.74 | |||
I. DEAL SUMMARY
|
Beginning Note Balance |
Principal Payment | Ending Note Balance | Note Factor | Final Scheduled Payment Date | |||||||||||||
| Class A-1 Notes | $ | - | $ | - | $ | - | - | May-23 | |||||||||
| Class A-2 Notes | $ | - | $ | - | $ | - | - | Jun-25 | |||||||||
| Class A-3 Notes | $ | 294,959,069.47 | $ | 28,424,965.12 | $ | 266,534,104.35 | 0.401897 | Apr-27 | |||||||||
| Class A-4 Notes | $ | 150,730,000.00 | $ | - | $ | 150,730,000.00 | 1.000000 | Sep-27 | |||||||||
| Class B Notes | $ | 18,990,000.00 | $ | - | $ | 18,990,000.00 | 1.000000 | Oct-27 | |||||||||
| Class C Notes | $ | 18,990,000.00 | $ | - | $ | 18,990,000.00 | 1.000000 | Dec-27 | |||||||||
| Class D Notes | $ | 18,980,000.00 | $ | - | $ | 18,980,000.00 | 1.000000 | Sep-28 | |||||||||
| Total Notes | $ | 502,649,069.47 | $ | 28,424,965.12 | $ | 474,224,104.35 | |||||||||||
| Beginning Balance | Ending Balance | Pool Factor | |||||||||||||||
| Net Pool Balance | $ | 535,224,700.54 | $ | 504,949,349.88 | 0.249258 | ||||||||||||
| YSOC Amount | $ | 27,827,937.01 | $ | 25,977,551.47 | |||||||||||||
| Adjusted Pool Balance | $ | 507,396,763.53 | $ | 478,971,798.41 | |||||||||||||
| Overcollateralization Amount (Adjusted Pool Balance - Note Balance) | $ | 4,747,694.06 | $ | 4,747,694.06 | |||||||||||||
| Reserve Account Balance | $ | 4,747,694.06 | $ | 4,747,694.06 | |||||||||||||
|
Beginning Note Balance |
Interest Rate | Accrual Methodology | Interest Payment | ||||||||||||||
| Class A-1 Notes | $ | - | 1.40500% | ACT/360 | $ | - | |||||||||||
| Class A-2 Notes | $ | - | 2.71000% | 30/360 | $ | - | |||||||||||
| Class A-3 Notes | $ | 294,959,069.47 | 3.17000% | 30/360 | $ | 779,183.54 | |||||||||||
| Class A-4 Notes | $ | 150,730,000.00 | 3.32000% | 30/360 | $ | 417,019.67 | |||||||||||
| Class B Notes | $ | 18,990,000.00 | 3.59000% | 30/360 | $ | 56,811.75 | |||||||||||
| Class C Notes | $ | 18,990,000.00 | 3.93000% | 30/360 | $ | 62,192.25 | |||||||||||
| Class D Notes | $ | 18,980,000.00 | 4.43000% | 30/360 | $ | 70,067.83 | |||||||||||
| Total Notes | $ | 502,649,069.47 | $ | 1,385,275.04 | |||||||||||||
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||||||
| Net Pool Balance | $ | 535,224,700.54 | $ | 504,949,349.88 | ||||
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 507,396,763.53 | $ | 478,971,798.41 | ||||
| Number of Receivables Outstanding | 50,359 | 49,122 | ||||||
| Weighted Average Contract Rate | 3.61 | % | 3.61 | % | ||||
| Weighted Average Remaining Term (months) | 28.7 | 27.8 | ||||||
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | |||||
| a. Collections | |||||
| Interest Collections | $ | 1,600,200.93 | |||
| Principal Collections | $ | 29,997,997.65 | |||
| Liquidation Proceeds | $ | 217,561.51 | |||
| b. Repurchase Price | $ | - | |||
| c. Optional Purchase Price | $ | - | |||
| d. Reserve Account Excess Amount | $ | - | |||
| Total Available Funds | $ | 31,815,760.09 | |||
| Reserve Account Draw Amount | $ | - | |||
| Total Funds Available for Distribution | $ | 31,815,760.09 | |||
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||
| Servicing Fee | $ | 446,020.58 | $ | 446,020.58 | $ | - | $ | - | $ | 31,369,739.51 | |||||||
| Interest - Class A-1 Notes | $ | - | $ | - | $ | - | $ | - | $ | 31,369,739.51 | |||||||
| Interest - Class A-2 Notes | $ | - | $ | - | $ | - | $ | - | $ | 31,369,739.51 | |||||||
| Interest - Class A-3 Notes | $ | 779,183.54 | $ | 779,183.54 | $ | - | $ | - | $ | 30,590,555.97 | |||||||
| Interest - Class A-4 Notes | $ | 417,019.67 | $ | 417,019.67 | $ | - | $ | - | $ | 30,173,536.30 | |||||||
| First Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 30,173,536.30 | |||||||
| Interest - Class B Notes | $ | 56,811.75 | $ | 56,811.75 | $ | - | $ | - | $ | 30,116,724.55 | |||||||
| Second Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 30,116,724.55 | |||||||
| Interest - Class C Notes | $ | 62,192.25 | $ | 62,192.25 | $ | - | $ | - | $ | 30,054,532.30 | |||||||
| Third Allocation of Principal | $ | 4,697,271.06 | $ | 4,697,271.06 | $ | - | $ | - | $ | 25,357,261.24 | |||||||
| Interest - Class D Notes | $ | 70,067.83 | $ | 70,067.83 | $ | - | $ | - | $ | 25,287,193.41 | |||||||
| Fourth Allocation of Principal | $ | 18,980,000.00 | $ | 18,980,000.00 | $ | - | $ | - | $ | 6,307,193.41 | |||||||
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 6,307,193.41 | |||||||
| Regular Principal Distribution Amount | $ | 4,747,694.06 | $ | 4,747,694.06 | $ | - | $ | - | $ | 1,559,499.35 | |||||||
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 1,559,499.35 | |||||||
| Remaining Funds to Certificates | $ | 1,559,499.35 | $ | 1,559,499.35 | $ | - | $ | - | $ | - | |||||||
| Total | $ | 31,815,760.09 | $ | 31,815,760.09 | $ | - | $ | - | |||||||||
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | |||||
| Beginning Period YSOC Amount | $ | 27,827,937.01 | |||
| Increase/(Decrease) | $ | (1,850,385.54) | |||
| Ending YSOC Amount | $ | 25,977,551.47 | |||
| Overcollateralization: | Beginning of Period | End of Period | ||||||
| Adjusted Pool Balance | $ | 507,396,763.53 | $ | 478,971,798.41 | ||||
| Note Balance | $ | 502,649,069.47 | $ | 474,224,104.35 | ||||
| Overcollateralization (Adjusted Pool Balance - Note Balance) | $ | 4,747,694.06 | $ | 4,747,694.06 | ||||
| Target Overcollateralization Amount | $ | 4,747,694.06 | $ | 4,747,694.06 | ||||
| Overcollateralization Shortfall | $ | - | $ | - | ||||
VI. RESERVE ACCOUNT
| Specified Reserve Account Balance | $ | 4,747,694.06 | |||
| Beginning Reserve Account Balance | $ | 4,747,694.06 | |||
| Reserve Account Deposit Amount | $ | - | |||
| Reserve Account Draw Amount | $ | - | |||
| Reserve Account Excess Amount | $ | - | |||
| Ending Reserve Account Balance | $ | 4,747,694.06 | |||
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% | 30 | $ | 277,353.01 | |||||||
|
Liquidation Proceeds of Defaulted Receivables1
|
0.04% | 188 | $ | 217,561.51 | |||||||
| Monthly Net Losses (Liquidation Proceeds) | $ | 59,791.50 | |||||||||
| Net Losses as % of Average Pool Balance (annualized) | |||||||||||
| Third Preceding Collection Period | 0.25 | % | |||||||||
| Second Preceding Collection Period | 0.20 | % | |||||||||
| Preceding Collection Period | (0.01) | % | |||||||||
| Current Collection Period | 0.14 | % | |||||||||
| Four-Month Average Net Loss Ratio | 0.14 | % | |||||||||
| Cumulative Net Losses for All Periods | $ | 4,772,318.54 | |||||||||
| Cumulative Net Loss Ratio | 0.24 | % | |||||||||
|
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 | 0.44% | 154 | $ | 2,227,622.27 | |||||||
| 60-89 Days Delinquent | 0.18% | 58 | $ | 913,013.82 | |||||||
| 90-119 Days Delinquent | 0.06% | 21 | $ | 285,157.84 | |||||||
| 120+ Days Delinquent | 0.00% | 0 | $ | - | |||||||
| Total Delinquent Receivables | 0.68% | 233 | $ | 3,425,793.93 | |||||||
| Repossession Inventory: | # of Receivables | Principal Balance | |||||||||
| Repossessed in the Current Collection Period | 5 | $ | 57,085.06 | ||||||||
| Total Repossessed Inventory | 13 | $ | 199,594.66 | ||||||||
| 60+ Delinquency Percentage: | # of Receivables | Amount | |||||||||
| 60+ Day Delinquent Receivables | 79 | $ | 1,198,171.66 | ||||||||
| 60+ Delinquencies as % of EOP Net Pool Balance | |||||||||||
| Third Preceding Collection Period | 0.21 | % | |||||||||
| Second Preceding Collection Period | 0.25 | % | |||||||||
| Preceding Collection Period | 0.25 | % | |||||||||
| Current Collection Period | 0.24 | % | |||||||||
| 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 February 2025.
| Month-End Balance | # of Receivables | |||||||||||||
| ($MM) | (%) | (#) | (%) | |||||||||||
| Total Extensions | 0.82 | 0.16% | 53 | 0.11% | ||||||||||
Capital One Prime Auto Receivables Trust 2022-1 published this content on March 17, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on March 17, 2025 at 15:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]