secwatch.observer — SEC 8-K summary
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Issuer:     SANTANDER DRIVE AUTO RECEIVABLES LLC (—)
CIK:        0001383094
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001193125-25-070387
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 6.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Santander Bank, N.A. replaces Santander Consumer USA as servicer for Drive Auto Receivables Trust 2021-1
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- Effective April 1, 2025, SBNA assumed servicing for the trust's auto receivables under the Sale and Servicing Agreement.
- SBNA, a national bank and wholly-owned subsidiary of Santander Holdings USA, will now service over 20 securitizations sponsored by SC.
- Omnibus Amendment shifts certain indemnity and repurchase obligations from SC as servicer to SC in its individual capacity.
- SBNA's servicing practices are detailed, including collections, repossessions, modifications, and charge-off policies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070387/0001193125-25-070387-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070387/d912513d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-070387

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