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:  0001193125-25-070408
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 6.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Drive Auto Receivables Trust 2021-3 servicer changed to Santander Bank, N.A. effective April 1
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- Omnibus amendment shifts certain indemnities and repurchase obligations from SC as servicer to SC individually.
- Servicing transfer date April 1, 2025; SBNA assumes servicing for over 20 securitizations sponsored by SC.
- SBNA is a national bank regulated by OCC, FDIC, CFPB and a wholly-owned subsidiary of Santander Holdings USA.
- Prior to transfer, SBNA has been servicing motor vehicle contracts since 2023; no changes to transaction structure.
- No financial impact or changes to the trust's asset pool or cash flows were disclosed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070408/0001193125-25-070408-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070408/d913085d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-070408

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