Attached files
file | filename |
---|---|
10-K - FORM 10-K - VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC | k50245e10vk.htm |
EX-31 - EX-31 - VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC | k50245exv31.htm |
EX-33.2 - EX-33.2 - VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC | k50245exv33w2.htm |
EX-35.1 - EX-35.1 - VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC | k50245exv35w1.htm |
EX-34.2 - EX-34.2 - VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC | k50245exv34w2.htm |
EX-33.1 - EX-33.1 - VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC | k50245exv33w1.htm |
EXHIBIT 34.1
Report of Independent Registered Public Accounting Firm
To the Board of Directors of VW Credit, Inc. and
CitiBank, N.A., Indenture Trustee:
CitiBank, N.A., Indenture Trustee:
We have examined VW Credit, Incs (the Company) compliance with the servicing criteria set forth in
Title 17, Section 229.1122(d) of the Securities and Exchange Commissions Regulation AB for the
Companys Volkswagen Auto Loan Enhanced Trust 2008-2 asset backed securitization transactions
except for the servicing criteria set forth in Sections 229.1122(d)(1)(ii)-(iv),
229.1122(d)(2)(vi), 229.1122(d)(4)(ix)-(xiii), and 229.1122(d)(4)(xv), which the Company has
determined are not applicable to the activities it performs with respect to the asset backed
securities transactions being serviced as of December 31, 2010 and for the period from January 1,
2010 through December 31, 2010 (the Reporting Period). Management is responsible for the
Companys compliance with those servicing criteria. Our responsibility is to express an opinion on
the Companys compliance based on our examination.
Our examination was conducted in accordance with the standards of the Public Company Accounting
Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence
about the Companys compliance with the servicing criteria specified above and performing such
other procedures as we considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a legal determination
on the Companys compliance with the servicing criteria.
Our examination disclosed one instance of noncompliance with servicing criteria. On April 8, 2010
a systems reporting deficiency caused a batch of payments to be transferred to the collection
account on the third business day rather than the two business days as required under the
transaction agreements; however, there was no adverse impact to the Noteholders. The above
mentioned deficiency was identified during the Companys daily reconciliation process; however,
process verification delayed the transfer.
In our opinion, except for the noncompliance described in the third paragraph, VW Credit, Inc.
complied, in all material respects, with the aforementioned servicing criteria for the reporting
period ended December 31, 2010.
/s/ Baker Tilly Virchow Krause, LLP
Southfield, Michigan
March 28, 2011
March 28, 2011