Exhibit 99.1
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
||||||||
Collection Period: June 1, 2024 through June 30, 2024 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
Determination Date: 07/15/2024 |
Actual/360 Days |
|
30 |
Record Date: 07/17/2024 |
30/360 Days |
|
30 |
Payment Date: 07/18/2024 |
ORIGINAL DEAL PARAMETERS
|
|
|
|
Dollar Amount |
|
|
|
|
Number of Receivables |
|
|
|
||
Total Portfolio Balance |
|
|
|
$ |
1,889,359,251.43 |
|
|
|
|
|
84,946 |
|
|
|
|
|
Accrual Basis |
|
Dollar Amount |
|
|
% of Pool |
|
|
Interest Rate |
|
|
Final Scheduled |
|||
Class A-1 Notes |
|
Actual/360 |
|
$ |
409,600,000.00 |
|
|
|
21.68 |
% |
|
|
5.626 |
% |
|
August 19, 2024 |
Class A-2 Notes |
|
30/360 |
|
$ |
661,100,000.00 |
|
|
|
34.99 |
% |
|
|
5.710 |
% |
|
March 18, 2026 |
Class A-3 Notes |
|
30/360 |
|
$ |
661,100,000.00 |
|
|
|
34.99 |
% |
|
|
5.410 |
% |
|
February 18, 2028 |
Class A-4 Notes |
|
30/360 |
|
$ |
110,306,000.00 |
|
|
|
5.84 |
% |
|
|
5.300 |
% |
|
December 18, 2029 |
Certificates |
|
30/360 |
|
$ |
47,253,251.43 |
|
|
|
2.50 |
% |
|
|
0.000 |
% |
|
|
Total Securities Balance |
|
|
|
$ |
1,889,359,251.43 |
|
|
|
|
|
|
|
|
|
||
Total Note Balance |
|
|
|
$ |
1,842,106,000.00 |
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Reserve Account Initial Deposit |
|
|
|
$ |
4,723,398.13 |
|
|
|
|
|
|
|
|
|
||
Yield Supplement Account Deposit |
|
|
|
$ |
184,670,383.64 |
|
|
|
|
|
|
|
|
|
||
COLLECTIONS
Interest Collections |
|
|
|
|
|
|
|
|
|
|
|
|
Simple Interest Collections |
|
$ |
4,341,293.46 |
|
|
|
|
|
|
|
||
Interest Related to Repurchased Receivables |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Interest Advance for simple Interest - Net * |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Total Interest Collections |
|
$ |
4,341,293.46 |
|
|
|
|
|
|
|
||
* Advances are reimbursed (including non-recoverable advances of $0.00): |
||||
(i) from subsequent payments, liquidation proceeds and servicer repurchase payments in respect of the related obligor, and |
||||
(ii) to the extent amounts in clause (i) are insufficient, generally from interest (with respect to interest advances). |
||||
|
|
|
|
|
Principal Collections |
|
|
|
|
|
|
|
|
|
|
|
|
Principal Collections |
|
$ |
36,822,385.85 |
|
|
|
|
|
|
|
||
Prepayments in Full |
|
$ |
13,713,922.57 |
|
|
|
|
|
|
|
||
Liquidation Proceeds |
|
$ |
214,196.02 |
|
|
|
|
|
|
|
||
Principal Related to Repurchased Receivables |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
Recoveries from Prior Month Charge Offs |
|
$ |
142,317.59 |
|
|
|
|
|
|
|
||
Total Principal Collections |
|
$ |
50,892,822.03 |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest and Principal Collections |
|
$ |
55,234,115.49 |
|
|
|
|
|
|
|
||
Yield Supplement Deposit |
|
$ |
6,579,921.87 |
|
|
|
|
|
|
|
||
Collection Account Investment Earnings |
|
$ |
0.00 |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Available Amount |
|
|
|
$ |
61,814,037.36 |
|
|
|
|
|
|
|
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
||||||||
Collection Period: June 1, 2024 through June 30, 2024 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
Determination Date: 07/15/2024 |
Actual/360 Days |
|
30 |
Record Date: 07/17/2024 |
30/360 Days |
|
30 |
Payment Date: 07/18/2024 |
DISTRIBUTIONS
Note Percentage |
|
|
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|||
Certificate Percentage |
|
|
0.00 |
% |
|
|
|
Amount Due |
|
|
Amount Paid |
|
|
Shortfall |
|
|||
Total Servicing Fee |
|
|
1.00 |
% |
|
|
|
$ |
1,093,964.28 |
|
|
$ |
1,093,964.28 |
|
|
$ |
0.00 |
|
Trustee Fees |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Asset Representations Reviewer Fees (Accrued & Unpaid) |
|
|
|
|
$ |
0.00 |
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest - Class A-1 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Interest - Class A-2 Notes |
|
|
|
|
|
|
$ |
2,351,082.41 |
|
|
$ |
2,351,082.41 |
|
|
$ |
0.00 |
|
|
Interest - Class A-3 Notes |
|
|
|
|
|
|
$ |
2,980,459.17 |
|
|
$ |
2,980,459.17 |
|
|
$ |
0.00 |
|
|
Interest - Class A-4 Notes |
|
|
|
|
|
|
$ |
487,184.83 |
|
|
$ |
487,184.83 |
|
|
$ |
0.00 |
|
|
Total Monthly Interest |
|
|
|
|
|
|
$ |
5,818,726.41 |
|
|
$ |
5,818,726.41 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Principal - Class A-1 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Class A-2 Notes |
|
|
|
|
|
|
$ |
51,057,778.27 |
|
|
$ |
51,057,778.27 |
|
|
$ |
0.00 |
|
|
Principal - Class A-3 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Class A-4 Notes |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Total Monthly Principal |
|
|
|
|
|
|
$ |
51,057,778.27 |
|
|
$ |
51,057,778.27 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest - Certificates |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Principal - Certificates |
|
|
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
|
|
Available to Deposit |
|
|
Reserve Deposit |
|
|
Reserve Draw |
|
|
Excess Released |
|
|
Released to Seller |
|
|||||
Reserve Account Deposit |
|
$ |
3,843,568.40 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
3,843,568.40 |
|
Noteholder/Certificateholder Distributions |
|
Fee |
|
|
Interest |
|
|
Interest |
|
|
Principal |
|
|
Principal |
|
|
Amount |
|
||||||
Servicing Fee |
|
$ |
0.58 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,093,964.28 |
|
||||
Trustee Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.00 |
|
|||||
Asset Representation Reviewer Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.00 |
|
|||||||
Class A-1 Notes |
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Class A-2 Notes |
|
|
|
|
$ |
3.56 |
|
|
$ |
0.00 |
|
|
$ |
77.23 |
|
|
$ |
0.00 |
|
|
$ |
53,408,860.68 |
|
|
Class A-3 Notes |
|
|
|
|
$ |
4.51 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
2,980,459.17 |
|
|
Class A-4 Notes |
|
|
|
|
$ |
4.42 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
487,184.83 |
|
|
Certificates |
|
|
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
Page 2
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
||||||||
Collection Period: June 1, 2024 through June 30, 2024 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
Determination Date: 07/15/2024 |
Actual/360 Days |
|
30 |
Record Date: 07/17/2024 |
30/360 Days |
|
30 |
Payment Date: 07/18/2024 |
POOL DATA
|
|
Proceeding Month |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
Carryover Shortfall |
|
|
Beginning of Period |
|
|
End of Period |
|
|||||||||||||||
|
|
Interest |
|
|
Principal |
|
|
Balance |
|
|
Note Factor |
|
|
Balance |
|
|
Note Factor |
|
||||||
Class A-1 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
Class A-2 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
494,097,878.66 |
|
|
|
0.7473875 |
|
|
$ |
443,040,100.39 |
|
|
|
0.6701560 |
|
Class A-3 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
661,100,000.00 |
|
|
|
1.0000000 |
|
|
$ |
661,100,000.00 |
|
|
|
1.0000000 |
|
Class A-4 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
110,306,000.00 |
|
|
|
1.0000000 |
|
|
$ |
110,306,000.00 |
|
|
|
1.0000000 |
|
Certificates |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
47,253,251.43 |
|
|
|
1.0000000 |
|
|
$ |
47,253,251.43 |
|
|
|
1.0000000 |
|
Total Securities |
|
|
|
|
|
|
|
$ |
1,312,757,130.09 |
|
|
|
0.6948160 |
|
|
$ |
1,261,699,351.82 |
|
|
|
0.6677922 |
|
||
Total Notes |
|
|
|
|
|
|
|
$ |
1,265,503,878.66 |
|
|
|
0.6869875 |
|
|
$ |
1,214,446,100.39 |
|
|
|
0.6592705 |
|
||
Portfolio Information |
|
Original |
|
|
Prior Month |
|
|
Current Month |
|
|||
Weighted Average Coupon (WAC) |
|
|
4.00 |
% |
|
|
4.07 |
% |
|
|
4.07 |
% |
Weighted Average Remaining Maturity (WAM) |
|
|
49.25 |
|
|
|
40.10 |
|
|
|
39.29 |
|
Weighted Average Original Maturity (WAOM) |
|
|
61.62 |
|
|
|
|
|
|
|
||
Remaining Number of Receivables |
|
|
84,946 |
|
|
|
73,772 |
|
|
|
72,552 |
|
Portfolio Receivable Balance |
|
$ |
1,889,359,251.43 |
|
|
$ |
1,312,757,130.09 |
|
|
$ |
1,261,699,351.82 |
|
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Account Activity |
|
|
|
|
|
Amount |
|
|
Gross Principal Balance on Defaulted Receivables |
|
|
|
|
|
$ |
521,469.85 |
|
Liquidation Proceeds |
|
|
|
|
|
$ |
214,196.02 |
|
Recoveries on Previously Defaulted Contracts |
|
|
|
|
|
$ |
142,317.59 |
|
Aggregate Net Losses for Collection Period |
|
|
|
|
|
$ |
164,956.24 |
|
Net Loss Rate for Collection Period's Average Balance (annualized) |
|
|
|
|
0.15 |
% |
||
Cumulative Net Losses for all Periods |
|
|
|
|
|
$ |
1,890,425.15 |
|
Delinquent Receivables |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
||||
31-60 Days Delinquent |
|
|
335 |
|
|
|
0.46 |
% |
|
$ |
6,811,370.07 |
|
|
|
0.54 |
% |
61-90 Days Delinquent |
|
|
71 |
|
|
|
0.10 |
% |
|
$ |
1,562,994.31 |
|
|
|
0.12 |
% |
91-120 Days Delinquent |
|
|
13 |
|
|
|
0.02 |
% |
|
$ |
272,222.91 |
|
|
|
0.02 |
% |
121 Days or More Delinquent |
|
|
0 |
|
|
|
0.00 |
% |
|
$ |
0.00 |
|
|
|
0.00 |
% |
Repossession Activity |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
||||
Vehicles Repossessed During Collection Period |
|
|
14 |
|
|
|
0.02 |
% |
|
$ |
283,423.04 |
|
|
|
0.02 |
% |
Total Accumulated Repossessed Vehicles in Inventory |
|
|
38 |
|
|
|
0.05 |
% |
|
$ |
813,542.68 |
|
|
|
0.06 |
% |
Page 3
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
||||||||
Collection Period: June 1, 2024 through June 30, 2024 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
Determination Date: 07/15/2024 |
Actual/360 Days |
|
30 |
Record Date: 07/17/2024 |
30/360 Days |
|
30 |
Payment Date: 07/18/2024 |
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Ratios |
|
|
|
|
|
|
|
|
Ratio of Net Losses to the Pool Balance as of Each Collection Period |
|
|||||||
Third Preceding Collection Period |
|
|
|
|
|
|
0.29 |
% |
Second Preceding Collection Period |
|
|
|
|
|
|
0.19 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.12 |
% |
Current Collection Period |
|
|
|
|
|
|
0.15 |
% |
Four Month Average |
|
|
|
|
|
|
0.19 |
% |
Ratio of Number of Contracts Delinquent 61 Days or More to the Outstanding Number of Receivables (includes repossessions in inventory) |
|
|
|
|||||
Second Preceding Collection Period |
|
|
|
|
|
|
0.15 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.15 |
% |
Current Collection Period |
|
|
|
|
|
|
0.17 |
% |
Three Month Average |
|
|
|
|
|
|
0.16 |
% |
Delinquency Trigger |
|
4.80% |
|
Delinquency Percentage exceeds Delinquency Trigger: |
|
No |
||
Delinquency Percentage - |
|
0.15% |
|
|
|
|
|
|
Receivables that are 61 days or more delinquent as a percentage of Current Outstanding Balance of Receivables |
||||||||
LOSS AND CUMULATIVE LOSS INFORMATION
|
|
Current Month |
|
|
Cumulative |
|
||||||||||
For Assets Experiencing a Loss: |
|
Units |
|
|
Amount |
|
|
Units |
|
|
Amount |
|
||||
Gross Principal |
|
19 |
|
|
$ |
501,319.44 |
|
|
|
160 |
|
|
$ |
3,761,684.31 |
|
|
Liquidation Proceeds and Recoveries |
|
24 |
|
|
$ |
326,118.11 |
|
|
|
131 |
|
|
$ |
1,857,560.02 |
|
|
Net Loss Amount |
|
19 |
|
|
$ |
175,201.33 |
|
|
|
160 |
|
|
$ |
1,904,124.29 |
|
|
Net Loss % of Average |
|
|
|
|
0.16 |
% |
|
|
|
|
|
|
||||
Cumulative Net Loss % |
|
|
|
|
|
|
|
|
|
|
0.10 |
% |
||||
Average Net Loss of |
|
|
|
|
|
|
|
|
|
$ |
11,900.78 |
|
||||
CREDIT ENHANCEMENT
Reconciliation of Reserve Account |
|
|
|
|
Reconciliation of Yield Supplement Account |
|
||||
Beginning Reserve Account Balance |
|
$ |
4,723,398.13 |
|
|
Beginning Yield Supplement |
|
$ |
100,183,611.19 |
|
Investment Earnings |
|
$ |
20,284.47 |
|
|
Investment Earnings |
|
$ |
445,853.64 |
|
Excess Interest Deposited into the Reserve Account |
|
$ |
0.00 |
|
|
Additional Yield Supplement Amounts |
|
$ |
0.00 |
|
Investment Withdrawal to Seller |
|
$ |
(20,284.47 |
) |
|
Yield Supplement Withdrawal Amount |
|
$ |
6,579,921.87 |
|
Release of Reserve to Collection Account |
|
$ |
0.00 |
|
|
Investment Earnings Withdraw |
|
$ |
0.00 |
|
Release of Reserve to Seller |
|
$ |
0.00 |
|
|
Release of Yield Supplement Account Balance to Seller |
|
$ |
0.00 |
|
Ending Reserve Account Balance |
|
$ |
4,723,398.13 |
|
|
Ending Yield Supplement Account Balance |
|
$ |
94,049,542.96 |
|
|
|
|
|
|
|
|
|
|
||
Reserve Account Required Amount |
|
$ |
4,723,398.13 |
|
|
|
|
|
|
|
Page 4
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
||||||||
Collection Period: June 1, 2024 through June 30, 2024 |
||||||||
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
Determination Date: 07/15/2024 |
Actual/360 Days |
|
30 |
Record Date: 07/17/2024 |
30/360 Days |
|
30 |
Payment Date: 07/18/2024 |
REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
Is there any activity to report? |
|
|
|
|
|
|
|
No |
|
|
|
|
|
|
|
|
|
STATEMENT TO NOTEHOLDERS
Has there been a material change in practices with respect to charge-offs, collection and management of delinquent receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience? |
|
No |
||||||
|
|
|
|
|
|
|
|
|
Have there been any material modifications, extensions or waivers to receivables terms, fees, penalties or payments during the collection period? |
|
No |
||||||
|
|
|
|
|
|
|
|
|
Have there been any material breaches of representations, warranties or covenants contained in the receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
Has there been an issuance of notes or other securities backed by the receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
Has there been a material change in the underwriting, origination or acquisition of receivables? |
|
|
|
No |
||||
|
|
|
|
|
|
|
|
|
SERVICER CERTIFICATION
I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. |
||
|
|
|
/s/ Paul C. Honda |
|
|
Paul C. Honda |
|
|
Vice President-Finance & Administration and Assistant Secretary |
|
|
Page 5