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:  0001193125-25-070440
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 6.02, 9.01
LLM model:  deepseek-v4-flash:cloud

Santander Drive Auto Receivables Trust 2021-2 changes servicer to Santander Bank N.A. effective April 1, 2025
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- Santander Consumer USA Inc. transferred servicing duties to Santander Bank, N.A. (SBNA) as of April 1, 2025.
- SBNA assumed servicing for over 20 securitizations sponsored by Santander Consumer USA.
- Omnibus amendment on March 27, 2025 shifted indemnity and repurchase obligations from SC as servicer to SC in its individual capacity.
- SBNA is a wholly-owned subsidiary of Santander Holdings USA, Inc., the U.S. intermediate holding company of Banco Santander.
- SBNA will handle billing, collections, repossession, and charge-offs (e.g., 120 days past due charge-off policy) for the trust's auto receivables.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070440/0001193125-25-070440-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070440/d914717d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-070440

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