Deloitte & Touche LLP
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Board of Directors and Shareholders
Consumer USA Inc.
We have examined managements assertion, included in the accompanying Report on Assessment of Compliance with Servicing Criteria, that Santander Consumer USA Inc. (the Company) complied
with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commissions Regulation AB for all privately and publicly issued auto loan asset-backed securities transactions issued since 2006 for which the Company
acted as servicer involving auto loans (the Platform) as of and for the year ended December 31, 2011. The transactions included in the Platform are described in Appendix A attached hereto. Management is responsible for the
Companys compliance with the servicing criteria. Our responsibility is to express an opinion on managements assertion about the Companys compliance with the servicing criteria based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants, as adopted
by the Public Company Accounting Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence about the Companys compliance with the applicable servicing criteria, including tests on a sample basis of the
servicing activities related to the Platform, determining whether the Company performed those selected activities in compliance with the servicing criteria during the specified period, and performing such other procedures as we considered necessary
in the circumstances. Our procedures were limited to selected servicing activities performed by the Company during the period covered by this report and, accordingly, such samples may not have included servicing activities related to each specific
asset-backed transaction included in the Platform. Further, an examination is not designed to detect noncompliance arising from errors that may have occurred prior to the period specified above that may have affected the balances or amounts
calculated or reported by the Company during the period covered by this report. 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.
In our opinion, managements assertion that the Company complied with the aforementioned applicable servicing
criteria as of and for the year ended December 31, 2011 for the Platform is fairly stated, in all material respects.
March 16, 2012
The Transactions in the Platform include the following:
||SDART 2007-2, SDART 2007-3, SDART 2010-1, SDART 2010-2, SDART 2010-3, SDART 2010-A, SDART 2010-B, SDART 2010-H, SDART 2011-1, SDART 2011-2, SDART 2011-3, SDART 2011-4,
SDART 2011-S1, SDART 2011-S2 |
||SCART 2011-WO, SCART 2011-S1 |
||TRIAD 2006-B, TRIAD 2006-C, TRIAD 2007-A, TRIAD 2007-B |
||HSBC 2006-3, HSBC 2007-1 |
||UPFC 2007-A, UPFC 2007-B |
||ALA 2011-A, ALA 2011-B |