Attached files

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EX-35.1 - EX-35.1 - Santander Drive Auto Receivables Trust 2015-4d243785dex351.htm
EX-34.2 - EX-34.2 - Santander Drive Auto Receivables Trust 2015-4d243785dex342.htm
EX-34.1 - EX-34.1 - Santander Drive Auto Receivables Trust 2015-4d243785dex341.htm
EX-33.1 - EX-33.1 - Santander Drive Auto Receivables Trust 2015-4d243785dex331.htm
EX-31.1 - EX-31.1 - Santander Drive Auto Receivables Trust 2015-4d243785dex311.htm
10-K/A - FORM 10-K/A - Santander Drive Auto Receivables Trust 2015-4d243785d10ka.htm

Exhibit 33.2

ASSESSMENT OF COMPLIANCE WITH THE APPLICABLE SERVICING CRITERIA

The management (“Management”) of the Corporate Trust Services division of Wells Fargo Bank, National Association (the “Company”) is responsible for assessing the Company’s compliance with the applicable servicing criteria set forth in Item 1122(d) of Regulation AB of the Securities and Exchange Commission. Management has determined that the servicing criteria are applicable in regards to the servicing platform for the period as follows:

Period: As of and for the twelve months ended December 31, 2015 (the “Period”).

Platform: The platform consists of asset-backed securities (“ABS”) transactions for which the Company provides trustee (except Delaware trustee or owner trustee) and/or paying agent services and for which (i) some or all of the offered securities for such ABS transactions were publicly offered pursuant to a registration statement delivered under the Securities Act of 1933, as amended, or (ii) the offered securities for such ABS transactions were privately issued pursuant to an exemption from registration and the Company has an obligation under the transaction agreements to deliver an assessment of compliance with the applicable servicing criteria under Item 1122(d) of Regulation AB; provided however that, the platform excludes (a) any transactions for which the securities issued are mortgage-backed securities or mortgage-related asset-backed securities and (b) certain transactions for which the issuing entity has a fiscal year that ends on a date other than the end of the calendar year (the “ABS Platform”). Appendix A identifies the individual transactions defined by Management as constituting the ABS Platform for the Period.

Applicable Servicing Criteria: All servicing criteria set forth in Item 1122(d) applicable to the Company’s obligations in the related transaction agreements with respect to the ABS Platform for the Period, except for the following servicing criteria: 1122(d)(1)(v), 1122(d)(2)(iii), 1122(d)(3)(i)(B), 1122(d)(3)(i)(C), 1122(d)(3)(i)(D), 1122(d)(4)(i), 1122(d)(4)(ii), 1122(d)(4)(iv), 1122(d)(4)(v), 1122(d)(4)(vi), 1122(d)(4)(vii), 1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) and 1122(d)(4)(xv), which Management has determined are not applicable to the activities the Company performed with respect to the ABS Platform for the Period; provided however that, with respect to the ABS Platform (a) servicing criterion 1122(d)(3)(i)(A) is applicable only to the timeframe in which the Company distributes or makes available to investors the relevant investor reports received by the Company from the entity preparing such reports; (b) servicing criterion 1122(d)(3)(ii) is applicable only as it relates to remittances to investors; and (c) servicing criterion 1122(d)(4)(iii) is applicable only as it relates to obtaining an Officer’s Certificate from the servicer and reporting any additions, removals and substitutions to investors on the monthly distribution report (the “Applicable Servicing Criteria”).

With respect to the ABS Platform and the Period, Management provides the following assessment of the Company’s compliance with respect to the Applicable Servicing Criteria:

1. Management is responsible for assessing the Company’s compliance with the Applicable Servicing Criteria.

2. Management has assessed the Company’s compliance with the Applicable Servicing Criteria. 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. With respect to applicable servicing criterion 1122(d)(1)(ii), Management has determined that there were no activities performed during the Period with respect to the ABS Platform, because there were no occurrences of events that would require the Company to perform such activities.

4. 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 Management’s assessment of the Company’s compliance with the Applicable Servicing Criteria for the Period.


WELLS FARGO BANK, National Association
By:  

/s/ Bruce C. Wandersee

  Bruce C. Wandersee
Title:   Senior Vice President
Dated:   February 26, 2016

 

2


Appendix A to the Company’s Assessment of Compliance with the Applicable Servicing Criteria

 

ABS Platform Transactions

Deal Identifier

  

Long Name

AMCAR103    AmeriCredit Automobile Receivables Trust 2010-3
AMCAR104    AmeriCredit Automobile Receivables Trust 2010-4
AMCAR10B    AmeriCredit Automobile Receivables Trust 2010-B
AMCAR111    AmeriCredit Automobile Receivables Trust 2011-1
AMCAR112    AmeriCredit Automobile Receivables Trust 2011-2
AMCAR113    AmeriCredit Automobile Receivables Trust 2011-3
AMCAR114    AmeriCredit Automobile Receivables Trust 2011-4
AMCAR115    AmeriCredit Automobile Receivables Trust 2011-5
AMCAR121    AmeriCredit Automobile Receivables Trust 2012-1
AMCAR122    AmeriCredit Automobile Receivables Trust 2012-2
AMCAR123    AmeriCredit Automobile Receivables Trust 2012-3
AMCAR124    AmeriCredit Automobile Receivables Trust 2012-4
AMCAR134    AmeriCredit Automobile Receivables Trust 2013-4
AMOT104    Ally Master Owner Trust 2010-4
AMOT121    Ally Master Owner Trust 2012-1
AMOT123    Ally Master Owner Trust 2012-3
AMOT124    Ally Master Owner Trust 2012-4
AMOT125    Ally Master Owner Trust 2012-5
AMOT131    Ally Master Owner Trust 2013-1
AMOT132    Ally Master Owner Trust 2013-2
AMOT133    Ally Master Owner Trust 2013-3
AMOT141    Ally Master Owner Trust 2014-1
AMOT142    Ally Master Owner Trust 2014-2
AMOT143    Ally Master Owner Trust 2014-3
AMOT144    Ally Master Owner Trust 2014-4
AMOT145    Ally Master Owner Trust 2014-5
AMOT151    Ally Master Owner Trust 2015-1
AMOT152    Ally Master Owner Trust 2015-2
AMOT153    Ally Master Owner Trust 2015-3
BANKONESER1    Chase Issuance Trust
CHASE97ABOAT    Chase Manhattan Marine Owner Trust 1997-A
CHASE97ARV    Chase Manhattan RV Owner Trust 1997-A
CITEL051*    CIT Education Loan Trust 2005-1
GMALT151    GM Financial Automobile Leasing Trust 2015-1
GMALT152    GM Financial Automobile Leasing Trust 2015-2
GMALT153    GM Financial Automobile Leasing Trust 2015-3
GREENTREE961    Green Tree Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1996-1
GREENTREE962    Green Tree Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1996-2
HART10B    Hyundai Auto Receivables Trust 2010-B
NAVIENT151    Navient Student Loan Trust 2015-1
NAVIENT152    Navient Student Loan Trust 2015-2
NAVIENT153    Navient Student Loan Trust 2015-3
NELF2004-2*    Nelnet Education Loan Funding, Inc. Student Loan Asset-Backed Notes Series 2004-2
NSLT043*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2004-3
NSLT044*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2004-4
NSLT051*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-1
NSLT052*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-2
NSLT053*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-3
NSLT054*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-4
NSLT061*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2006-1
NSLT062*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2006-2
NSLT063*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2006-3
NSLT071*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2007-1
NSLT081*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2008-1
NSLT082*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2008-2
NSLT083*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2008-3
NSLT084*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2008-4
NSLT092*    Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2009-2

 

* This transaction was inadvertently omitted from the transaction listing attached to the Company’s 2014 assessment of compliance with applicable servicing criteria. Therefore this transaction was not included in the Company’s 2014 assessment of compliance with applicable servicing criteria or the attestation report related thereto.

 

A-1


ABS Platform Transactions

Deal Identifier

  

Long Name

OAKWOOD2000C    Oakwood Mortgage Investors Series 2000-C Senior/Subordinate Pass-Through Certificates
OAKWOOD2000D    Oakwood Mortgage Investors Series 2000-D Senior/Subordinate Pass-Through Certificates
SDART112    Santander Drive Auto Receivables Trust 2011-2
SDART121    Santander Drive Auto Receivables Trust 2012-1
SDART124    Santander Drive Auto Receivables Trust 2012-4
SDART133    Santander Drive Auto Receivables Trust 2013-3
SDART141    Santander Drive Auto Receivables Trust 2014-1
SDART144    Santander Drive Auto Receivables Trust 2014-4
SDART145    Santander Drive Auto Receivables Trust 2014-5
SDART152    Santander Drive Auto Receivables Trust 2015-2
SDART154    Santander Drive Auto Receivables Trust 2015-4
SDART155    Santander Drive Auto Receivables Trust 2015-5

 

A-2