Santander Drive Auto Trust 2024-1 Servicer Change
| Field | Detail |
|---|---|
| Company | Drive Auto Receivables Trust 2024-1 |
| Form Type | 8-K |
| Filed Date | Apr 1, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: servicer-change, asset-backed-securities, auto-loans
TL;DR
Santander Drive Auto Trust 2024-1 has a new servicer as of March 27, 2025.
AI Summary
On March 27, 2025, Santander Drive Auto Receivables LLC filed an 8-K report detailing a change in the servicer for the Drive Auto Receivables Trust 2024-1. This filing indicates a transition in the entity responsible for managing the trust's auto loan assets.
Why It Matters
This change in servicer could impact the operational management and performance of the auto loan assets within the Drive Auto Receivables Trust 2024-1.
Risk Assessment
Risk Level: low — The filing reports a change in servicer, which is a routine administrative event for asset-backed trusts and does not inherently indicate financial distress or significant operational risk.
Key Players & Entities
- Santander Drive Auto Receivables LLC (company) — Filer and potentially former servicer
- Drive Auto Receivables Trust 2024-1 (company) — The trust whose assets are managed
FAQ
What is the effective date of the servicer change for Drive Auto Receivables Trust 2024-1?
The 8-K filing indicates the change of servicer occurred on or around March 27, 2025.
Who is the filer of this 8-K report?
The filer is Santander Drive Auto Receivables LLC.
What type of assets does the Drive Auto Receivables Trust 2024-1 hold?
The trust holds auto loans.
What specific items are being reported in this 8-K filing?
The filing reports an entry into a material definitive agreement, a change of servicer or trustee, and financial statements and exhibits.
What is the SEC file number associated with Santander Drive Auto Receivables LLC?
The SEC file number for Santander Drive Auto Receivables LLC is 333-139609.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on April 1, 2025 regarding Drive Auto Receivables Trust 2024-1.