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:  0001193125-25-070415
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 6.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Santander Consumer USA transfers auto loan servicing to Santander Bank N.A. effective April 1, 2025
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- Servicing for Drive Auto Receivables Trust 2024-2 and 20+ other securitizations moves from SC to SBNA.
- Omnibus Amendment shifts certain indemnities and repurchase obligations from SC as servicer to SC individually.
- SBNA will handle billing, collections, repossessions, and loss mitigation under the Sale and Servicing Agreement.
- SC remains sponsor and depositor; SBNA is a wholly owned subsidiary of Santander Holdings USA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070415/0001193125-25-070415-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070415/d913401d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-070415

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer