Attached files
file | filename |
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EX-34.1 - EXHIBIT 34.1 - SANTANDER DRIVE AUTO RECEIVABLES LLC | c14604exv34w1.htm |
10-K - FORM 10-K - SANTANDER DRIVE AUTO RECEIVABLES LLC | c14604e10vk.htm |
EX-31.1 - EXHIBIT 31.1 - SANTANDER DRIVE AUTO RECEIVABLES LLC | c14604exv31w1.htm |
EX-35.1 - EXHIBIT 35.1 - SANTANDER DRIVE AUTO RECEIVABLES LLC | c14604exv35w1.htm |
EX-33.1 - EXHIBIT 33.1 - SANTANDER DRIVE AUTO RECEIVABLES LLC | c14604exv33w1.htm |
EX-34.2 - EXHIBIT 34.2 - SANTANDER DRIVE AUTO RECEIVABLES LLC | c14604exv34w2.htm |
Exhibit 33.2
Corporate Trust Services | ||
MAC N2702-011 | ||
9062 Old Annapolis Road | ||
Columbia, MD 21045 | ||
410 884-2000 | ||
410 715-2380 Fax | ||
Wells Fargo Bank, N.A. |
ASSESSMENT OF COMPLIANCE WITH THE APPLICABLE SERVICING CRITERIA
Corporate Trust Services division of Wells Fargo Bank, National Association (the Company) is
responsible for assessing compliance with the servicing criteria set forth in Item 1122(d) of
Regulation AB promulgated by the Securities and Exchange Commission. The Company has determined
that the servicing criteria are applicable in regards to the servicing platform for the period as
follows:
Platform: Publicly-issued (i.e., transaction-level reporting initially required under the
Securities Exchange Act of 1934, as amended) and certain privately-issued (i.e., for which
transaction-level reporting is required pursuant to contractual obligation) residential
mortgage-backed securities, commercial mortgage-backed securities and other asset-backed
securities, for which the Company provides master servicing, trustee, securities administration or
paying agent services, excluding any such securities issued by any agency or instrumentality of the
U.S. government (other than the Federal Deposit Insurance Company) or any government sponsored
entity, and further excluding the transactions issued prior to 2006 for which Wells Fargo
outsources all material servicing activities (as defined by Regulation AB) (the Platform).
Applicable Servicing Criteria: All servicing criteria set forth in Item 1122(d), to the
extent required in the related transaction agreements, or required by the Item 1122(d) servicing
criteria in regards to the activities performed by the Company, except for the following criteria:
1122(d)(4)(ii), 1122(d)(4)(iv), 1122(d)(4)(v), 1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x),
1122(d)(4)(xi), 1122(d)(4)(xii) and 1122(d)(4)(xiii), which Management has determined are not
applicable to the activities the Company performs with respect to the Platform (the Applicable
Servicing Criteria).
Period: As of and for the twelve months ended December 31, 2010 (the Period).
Third parties classified as vendors: With respect to servicing criteria 1122(d)(4)(i), the
Company has engaged a vendor to handle certain Uniform Commercial Code filing functions required by
the servicing criteria. The Company has determined that this vendor is not considered a servicer
as defined in Item 1101(j) of Regulation AB, and the Company elects to take responsibility for
assessing compliance with the portion of the servicing criteria applicable to this vendor as
permitted by Interpretation 17.06 of the SEC Division of Corporation Finance Manual of Publicly
Available Telephone Interpretations (Interpretation 17.06). The Company has policies and
procedures in place to provide reasonable assurance that the vendors activities comply in all
material respects with the servicing criteria applicable to each vendor. The Company is solely
responsible for determining that it meets the SEC requirements to
apply Interpretation 17.06 for
the vendor and related criteria.
With respect to the Platform and the Period, the Company provides the following assessment
of compliance with respect to the Applicable Servicing Criteria:
1. The Company is responsible for assessing its compliance with the Applicable Servicing Criteria.
2. The Company has assessed compliance with the Applicable Servicing Criteria, including servicing
criteria for which compliance is determined based on Interpretation
17.06 as described above, for the Period. In performing this
assessment, management used the criteria set forth by the Securities and Exchange Commission in paragraph (d) of Item 1122 of
Regulation AB.
3. Based on such assessment for the Period, the Company has complied, in all material respects with
the Applicable Servicing Criteria.
KPMG LLP, an independent registered public accounting firm, has issued an attestation report with
respect to the Companys assessment of compliance for the Period.
WELLS FARGO BANK, National Association |
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By: | /s/ Brian Bartlett | |||
Brian Bartlett | ||||
Its: Executive Vice President |
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Dated: February 14, 2011 |