Santander Auto Trust 2024-2 Reports Servicer/Trustee Change
| Field | Detail |
|---|---|
| Company | Santander Drive Auto Receivables Trust 2024-2 |
| Form Type | 8-K |
| Filed Date | Apr 1, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: asset-backed-securities, auto-loans, servicer-change, trustee-change
TL;DR
Santander Auto Trust 2024-2 changed its servicer/trustee, check the filings for details.
AI Summary
Santander Drive Auto Receivables Trust 2024-2, a trust backed by auto loans, filed an 8-K on April 1, 2025, reporting a change in its servicer or trustee. The filing also includes information on material definitive agreements and financial statements related to the trust's operations.
Why It Matters
Changes in servicers or trustees for asset-backed securities can impact the management and administration of the underlying assets, potentially affecting investors.
Risk Assessment
Risk Level: medium — Changes in servicer or trustee for an asset-backed security can introduce operational risks and affect the handling of the underlying auto loan portfolio.
Key Numbers
- 20250401 — Filing Date (Indicates when the report was officially submitted to the SEC.)
- 20250327 — Period of Report (Specifies the end date of the reporting period covered by this 8-K.)
Key Players & Entities
- Santander Drive Auto Receivables Trust 2024-2 (company) — Filer of the 8-K
- Santander Drive Auto Receivables LLC (company) — Related entity, likely the originator or sponsor
- 0001193125-25-070473 (dollar_amount) — Accession Number for the filing
- 20250401 (dollar_amount) — Filing date
- 20250327 (dollar_amount) — Period of report date
FAQ
What specific event triggered the filing of this 8-K?
The filing was triggered by an entry into a material definitive agreement and a change of servicer or trustee for the Santander Drive Auto Receivables Trust 2024-2.
Who is the filer of this 8-K report?
The primary filers are Santander Drive Auto Receivables Trust 2024-2 (CIK: 0002018245) and Santander Drive Auto Receivables LLC (CIK: 0001383094).
What is the asset class associated with this trust?
The asset class is Auto loans.
When was this 8-K filed with the SEC?
This 8-K was filed on April 1, 2025.
What are the main items of information reported in this filing?
The filing reports on Item 1.01 (Entry into a Material Definitive Agreement), Item 1.02 (Change of Servicer or Trustee), and Item 7.01 (Financial Statements and Exhibits).
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on April 1, 2025 regarding Santander Drive Auto Receivables Trust 2024-2.