Santander Drive Auto Trust 2021-2 Reports Servicer Agreement and Trustee Change
| Field | Detail |
|---|---|
| Company | Drive Auto Receivables Trust 2021-2 |
| Form Type | 8-K |
| Filed Date | Apr 1, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: asset-backed-securities, servicing-agreement, trustee-change
TL;DR
Santander Drive Auto Trust 2021-2 has a new trustee and a new servicing deal for its auto loans.
AI Summary
Santander Drive Auto Receivables LLC, as servicer, and Drive Auto Receivables Trust 2021-2, as issuer, entered into a material definitive agreement on March 27, 2025, related to the servicing of auto loans. This filing also reports a change in the trustee for the Drive Auto Receivables Trust 2021-2. Financial statements and exhibits are included.
Why It Matters
This filing indicates a change in the trustee and a material agreement for the servicing of auto loans within the Drive Auto Receivables Trust 2021-2, which could impact investors in these asset-backed securities.
Risk Assessment
Risk Level: low — The filing is a routine update on servicing agreements and trustee changes for an asset-backed security trust, not indicating any immediate financial distress or significant operational shifts.
Key Players & Entities
- Santander Drive Auto Receivables LLC (company) — Servicer
- Drive Auto Receivables Trust 2021-2 (company) — Issuer and Trust
- March 27, 2025 (date) — Date of material definitive agreement
FAQ
What is the nature of the material definitive agreement entered into on March 27, 2025?
The filing indicates a material definitive agreement related to the servicing of auto loans for the Drive Auto Receivables Trust 2021-2.
Who is the servicer for the Drive Auto Receivables Trust 2021-2?
Santander Drive Auto Receivables LLC is listed as the servicer.
Has there been a change in the trustee for Drive Auto Receivables Trust 2021-2?
Yes, the filing reports a change of servicer or trustee for the Drive Auto Receivables Trust 2021-2.
What is the primary asset class for the Drive Auto Receivables Trust 2021-2?
The primary asset class is Auto loans.
What is the filing date of this Current Report?
This Current Report (8-K) was filed on April 1, 2025.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on April 1, 2025 regarding Drive Auto Receivables Trust 2021-2.