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:  0001193125-25-070444
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 6.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Santander Drive Auto Receivables Trust 2023-1 servicer changed to Santander Bank, N.A. effective April 1, 2025
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- Servicing transferred to SBNA (Santander Bank, N.A.) effective April 1, 2025; SBNA assumes role of servicer under Sale and Servicing Agreement.
- SBNA will service over 20 securitizations previously serviced by SC; handles billing, collections, repossession, and loss mitigation.
- Omnibus Amendment moves indemnity and repurchase obligations for servicer breaches from SC as servicer to SC in its individual capacity.
- No financial impact or rating action disclosed; transfer is part of SC's internal reorganization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070444/0001193125-25-070444-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1383094/000119312525070444/d915173d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-070444

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