Santander Drive Auto Trust 2023-1 Files 8-K
| Field | Detail |
|---|---|
| Company | Santander Drive Auto Receivables Trust 2023-1 |
| Form Type | 8-K |
| Filed Date | Apr 1, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: asset-backed-securities, auto-loans, servicer-change
TL;DR
Santander Drive Auto Trust 2023-1 filed an 8-K on 4/1/25, reporting changes in servicer/trustee and material agreements.
AI Summary
Santander Drive Auto Receivables Trust 2023-1 filed an 8-K on April 1, 2025, reporting a change in its servicer or trustee. The filing also includes information on a material definitive agreement and financial statements/exhibits related to its auto loan asset class. The entity is based in Dallas, TX.
Why It Matters
This filing indicates a change in the operational management or oversight of the Santander Drive Auto Receivables Trust 2023-1, which could impact the servicing and administration of its auto loan securitization.
Risk Assessment
Risk Level: low — The filing is a routine 8-K reporting administrative and contractual changes, not indicating immediate financial distress or significant operational issues.
Key Players & Entities
- Santander Drive Auto Receivables Trust 2023-1 (company) — Filer and issuer of the report
- Santander Drive Auto Receivables LLC (company) — Related entity, likely the servicer or sponsor
- 20250401 (date) — Filing date of the 8-K
- 20250327 (date) — Period of report
FAQ
What specific event triggered the 'Change of Servicer or Trustee' item?
The filing does not specify the exact event but indicates a change in the servicer or trustee for the Santander Drive Auto Receivables Trust 2023-1, effective April 1, 2025.
What is the nature of the 'Material Definitive Agreement' mentioned?
The filing lists 'Entry into a Material Definitive Agreement' as an item but does not provide details on the specific agreement within the provided text.
What is the asset class for this trust?
The asset class for the Santander Drive Auto Receivables Trust 2023-1 is 'Auto loans'.
When was the previous company name 'Drive Auto Receivables LLC' changed?
The date of the name change from 'Drive Auto Receivables LLC' to 'Santander Drive Auto Receivables LLC' was December 8, 2006.
Where is Santander Drive Auto Receivables LLC located?
Santander Drive Auto Receivables LLC is located at 1601 Elm Street, Suite 800, Dallas, TX 75201.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on April 1, 2025 regarding Santander Drive Auto Receivables Trust 2023-1.