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Santander Drive Auto Receivables Trust 2017-3

Filed: 31 Mar 21, 6:28am

Exhibit 33.2

 

LOGO   Corporate Trust Services
  Asset Backed Securities
  

MAC N9300-061

600 S. 4th Street

  

Minneapolis, MN 55479

 

  Tel: 612 667 8058
  Fax: 612 667 3464

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 regard to the servicing platform for the period as follows:

Period: As of and for the twelve months ended December 31, 2020 (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 either (i) some or all of the issued 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 issued securities for such ABS transactions were privately offered 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)(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) and 1122(d)(4)(xiv), which Management has determined are not applicable to the Company’s obligations in the related transaction agreements 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 as it relates to the Company’s obligation to distribute or make available to investors, in accordance with the timeframes set forth in the transaction agreements, 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 the Company’s obligation to make remittances to investors in accordance with the transaction agreements; and (c) servicing criterion 1122(d)(4)(iii) is applicable only as it relates to the Company’s obligation to obtain an Officer’s Certificate from the servicer and report any additions, removals and substitutions to investors on the relevant investor report, in each case, in accordance with the transaction agreements (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.

 

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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 Criteria 1122(d)(1)(ii), 1122(d)(4)(i), and 1122(d)(4)(xv), 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 16, 2021

 

2


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

ABS Platform Transactions

 

Wells Fargo Deal Identifier

  

Long Name

AMOT173  Ally Master Owner Trust 2017-3
AMOT181  Ally Master Owner Trust 2018-1
AMOT182  Ally Master Owner Trust 2018-2
AMOT183  Ally Master Owner Trust 2018-3
AMOT184  Ally Master Owner Trust 2018-4
BANKONESER1  Chase Issuance Trust
CARVANA2020P1  Carvana Auto Receivables Trust 2020-P1
CITEL051  CIT Education Loan Trust 2005-1
EART203  Exeter Automobile Receivables Trust 2020-3
GMALT172  GM Financial Automobile Leasing Trust 2017-2
GMALT173  GM Financial Automobile Leasing Trust 2017-3
GMALT181  GM Financial Automobile Leasing Trust 2018-1
GMALT182  GM Financial Automobile Leasing Trust 2018-2
GMALT183  GM Financial Automobile Leasing Trust 2018-3
GMALT191  GM Financial Automobile Leasing Trust 2019-1
GMALT192  GM Financial Automobile Leasing Trust 2019-2
GMALT193  GM Financial Automobile Leasing Trust 2019-3
GMALT201  GM Financial Automobile Leasing Trust 2020-1
GMALT202  GM Financial Automobile Leasing Trust 2020-2
GMALT203  GM Financial Automobile Leasing Trust 2020-3
GMCAR181  GM Financial Consumer Automobile Receivables Trust 2018-1
GMCAR182  GM Financial Consumer Automobile Receivables Trust 2018-2
GMCAR193  GM Financial Consumer Automobile Receivables Trust 2019-3
GMCAR194  GM Financial Consumer Automobile Receivables Trust 2019-4
GMCAR203  GM Financial Consumer Automobile Receivables Trust 2020-3
GMCAR204  GM Financial Consumer Automobile Receivables Trust 2020-4
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
HUNT2016-1  Huntington Auto Trust 2016-1
NAVIENT151  Navient Student Loan Trust 2015-1
NAVIENT152  Navient Student Loan Trust 2015-2
NAVIENT153  Navient Student Loan Trust 2015-3
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
OAKWOOD2000C  Oakwood Mortgage Investors 2000-C Senior/Subordinate Pass-Through Certificates
OAKWOOD2000D  Oakwood Mortgage Investors Series 2000-D Senior/Subordinate Pass-Through Certificates
SDART154  Santander Drive Auto Receivables Trust 2015-4
SDART155  Santander Drive Auto Receivables Trust 2015-5
SDART161  Santander Drive Auto Receivables Trust 2016-1
SDART162  Santander Drive Auto Receivables Trust 2016-2
SDART163  Santander Drive Auto Receivables Trust 2016-3
SDART171  Santander Drive Auto Receivables Trust 2017-1
SDART172  Santander Drive Auto Receivables Trust 2017-2
SDART173  Santander Drive Auto Receivables Trust 2017-3
SDART181  Santander Drive Auto Receivables Trust 2018-1
SDART182  Santander Drive Auto Receivables Trust 2018-2
SDART183  Santander Drive Auto Receivables Trust 2018-3
SDART184  Santander Drive Auto Receivables Trust 2018-4
SDART185  Santander Drive Auto Receivables Trust 2018-5
SDART191  Santander Drive Auto Receivables Trust 2019-1
SDART192  Santander Drive Auto Receivables Trust 2019-2
SDART193  Santander Drive Auto Receivables Trust 2019-3
SDART201  Santander Drive Auto Receivables Trust 2020-1
SDART202  Santander Drive Auto Receivables Trust 2020-2
SDART203  Santander Drive Auto Receivables Trust 2020-3
SDART204  Santander Drive Auto Receivables Trust 2020-4

 

Appendix A-1