10-K - CarMax Auto Owner Trust 2023-3 (0001980857) (Filer)

Fri, May 23, 5:25 PM (31 days ago)

**Summary of CarMax Auto Owner Trust 2023-3 10-K** **Company:** CarMax Auto Owner Trust 2023-3 (Not publicly traded, ticker not applicable) **Financial Performance:** - The document does not provide specific financial figures for revenue, net income, or operating expenses, as it is a specialized financial vehicle focused on asset-backed securities. **Strategic Overview:** - The trust is structured to issue asset-backed notes, with CarMax Auto Funding LLC acting as the depositor and CarMax Business Services, LLC serving as the sponsor and servicer. - The trust does not rely on any single obligor representing 10% or more of the pool assets, and there is no external credit enhancement or support. **Future Outlook:** - The outlook is not explicitly detailed, but the trust's structure and compliance reports suggest a focus on maintaining the quality and performance of the asset pool. **Risk Factors:** - The document does not explicitly list risk factors, but potential risks include the performance of the underlying auto loans and the effectiveness of the servicing and compliance processes. **Financial Condition:** - The trust's financial condition is supported by the performance of the asset pool and the compliance of the servicing parties with applicable criteria. - No material instances of noncompliance have been identified in the servicing reports and attestation reports. **Market Position Changes:** - The trust does not have a market position in the traditional sense, as it is not a publicly traded entity. Its market position is more related to the performance of the asset-backed notes within the financial markets. **Key Points:** - The trust has filed all required reports and has been subject to filing requirements for the past 90 days. - The trust is not a shell company and is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. - The trust has provided compliance statements and attestation reports from independent registered public accounting firms, indicating adherence to servicing criteria.