Capital One Prime Auto Receivables Trust 2022-1
11/15/2024 | Press release | Distributed by Public on 11/15/2024 10:23
Asset Backed Issuer Distribution Report Form 10 D
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2022-1
Statement to Securityholders
Determination Date: November 12, 2024
| Payment Date | 11/15/2024 |
| Collection Period Start | 10/1/2024 |
| Collection Period End | 10/31/2024 |
| Interest Period Start | 10/15/2024 |
| Interest Period End | 11/14/2024 |
| 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 | $ | 418,203,522.93 | $ | 32,265,045.50 | $ | 385,938,477.43 | 0.581943 | 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 | $ | 625,893,522.93 | $ | 32,265,045.50 | $ | 593,628,477.43 |
| Beginning Balance | Ending Balance | Pool Factor | |||
| Net Pool Balance | $ | 666,515,646.38 | $ | 632,143,043.97 | 0.312045 |
| YSOC Amount | $ | 35,874,429.39 | $ | 33,766,872.48 | |
| Adjusted Pool Balance | $ | 630,641,216.99 | $ | 598,376,171.49 | |
| 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 | $ | 418,203,522.93 | 3.17000% | 30/360 | $ | 1,104,754.31 |
| 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 | $ | 625,893,522.93 | $ | 1,710,845.81 |
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||
| Net Pool Balance | $ | 666,515,646.38 | $ | 632,143,043.97 |
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 630,641,216.99 | $ | 598,376,171.49 |
| Number of Receivables Outstanding | 55,150 | 53,922 | ||
| Weighted Average Contract Rate | 3.60 | % | 3.60 | % |
| Weighted Average Remaining Term (months) | 32.4 | 31.5 |
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | ||
| a. Collections | ||
| Interest Collections | $ | 1,985,705.89 |
| Principal Collections | $ | 34,019,093.34 |
| Liquidation Proceeds | $ | 207,257.07 |
| b. Repurchase Price | $ | - |
| c. Optional Purchase Price | $ | - |
| d. Reserve Account Excess Amount | $ | - |
| Total Available Funds | $ | 36,212,056.30 |
| Reserve Account Draw Amount | $ | - |
| Total Funds Available for Distribution | $ | 36,212,056.30 |
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | ||||||
| Servicing Fee | $ | 555,429.71 | $ | 555,429.71 | $ | - | $ | - | $ | 35,656,626.59 |
| Interest - Class A-1 Notes | $ | - | $ | - | $ | - | $ | - | $ | 35,656,626.59 |
| Interest - Class A-2 Notes | $ | - | $ | - | $ | - | $ | - | $ | 35,656,626.59 |
| Interest - Class A-3 Notes | $ | 1,104,754.31 | $ | 1,104,754.31 | $ | - | $ | - | $ | 34,551,872.28 |
| Interest - Class A-4 Notes | $ | 417,019.67 | $ | 417,019.67 | $ | - | $ | - | $ | 34,134,852.61 |
| First Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 34,134,852.61 |
| Interest - Class B Notes | $ | 56,811.75 | $ | 56,811.75 | $ | - | $ | - | $ | 34,078,040.86 |
| Second Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 34,078,040.86 |
| Interest - Class C Notes | $ | 62,192.25 | $ | 62,192.25 | $ | - | $ | - | $ | 34,015,848.61 |
| Third Allocation of Principal | $ | 8,537,351.44 | $ | 8,537,351.44 | $ | - | $ | - | $ | 25,478,497.17 |
| Interest - Class D Notes | $ | 70,067.83 | $ | 70,067.83 | $ | - | $ | - | $ | 25,408,429.34 |
| Fourth Allocation of Principal | $ | 18,980,000.00 | $ | 18,980,000.00 | $ | - | $ | - | $ | 6,428,429.34 |
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 6,428,429.34 |
| Regular Principal Distribution Amount | $ | 4,747,694.06 | $ | 4,747,694.06 | $ | - | $ | - | $ | 1,680,735.28 |
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 1,680,735.28 |
| Remaining Funds to Certificates | $ | 1,680,735.28 | $ | 1,680,735.28 | $ | - | $ | - | $ | - |
| Total | $ | 36,212,056.30 | $ | 36,212,056.30 | $ | - | $ | - |
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | ||
| Beginning Period YSOC Amount | $ | 35,874,429.39 |
| Increase/(Decrease) | $ | (2,107,556.91) |
| Ending YSOC Amount | $ | 33,766,872.48 |
| Overcollateralization: | Beginning of Period | End of Period | ||
| Adjusted Pool Balance | $ | 630,641,216.99 | $ | 598,376,171.49 |
| Note Balance | $ | 625,893,522.93 | $ | 593,628,477.43 |
| 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) | 0.06% | 29 | $ | 353,509.07 |
|
Liquidation Proceeds of Defaulted Receivables1
|
0.03% | 168 | $ | 207,257.07 |
| Monthly Net Losses (Liquidation Proceeds) | $ | 146,252.00 | ||
| Net Losses as % of Average Pool Balance (annualized) | ||||
| Third Preceding Collection Period | 0.11 | % | ||
| Second Preceding Collection Period | 0.03 | % | ||
| Preceding Collection Period | 0.18 | % | ||
| Current Collection Period | 0.27 | % | ||
| Four-Month Average Net Loss Ratio | 0.15 | % | ||
| Cumulative Net Losses for All Periods | $ | 4,491,175.45 | ||
| Cumulative Net Loss Ratio | 0.22 | % | ||
|
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 | 0.43% | 174 | $ | 2,687,027.20 |
| 60-89 Days Delinquent | 0.16% | 63 | $ | 985,877.85 |
| 90-119 Days Delinquent | 0.05% | 19 | $ | 319,657.33 |
| 120+ Days Delinquent | 0.00% | 0 | $ | - |
| Total Delinquent Receivables | 0.63% | 256 | $ | 3,992,562.38 |
| Repossession Inventory: | # of Receivables | Principal Balance | ||
| Repossessed in the Current Collection Period | 9 | $ | 148,451.17 | |
| Total Repossessed Inventory | 21 | $ | 364,055.44 | |
| 60+ Delinquency Percentage: | # of Receivables | Amount | ||
| 60+ Day Delinquent Receivables | 82 | $ | 1,305,535.18 | |
| 60+ Delinquencies as % of EOP Net Pool Balance | ||||
| Third Preceding Collection Period | 0.15 | % | ||
| Second Preceding Collection Period | 0.19 | % | ||
| Preceding Collection Period | 0.21 | % | ||
| Current Collection Period | 0.21 | % | ||
| 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 October 2024.
| Month-End Balance | # of Receivables | |||
| ($MM) | (%) | (#) | (%) | |
| Total Extensions | 1.05 | 0.17% | 66 | 0.12% |