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Santander Drive Auto Receivables Trust 2019-3

Filed: 30 Mar 20, 6:41am

Exhibit 33.2

 

 

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, 2019 (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.

 

© 2019 Wells Fargo Bank, N.A. All rights reserved 

 

 

   

 

 

 

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 19, 2020

 

 2 

 

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

 

ABS Platform Transactions
Wells Fargo Deal IdentifierLong Name
AMOT152Ally Master Owner Trust 2015-2   
AMOT171Ally Master Owner Trust 2017-1   
AMOT172Ally Master Owner Trust 2017-2   
AMOT173Ally Master Owner Trust 2017-3  
AMOT181Ally Master Owner Trust 2018-1   
AMOT182Ally Master Owner Trust 2018-2   
AMOT183Ally Master Owner Trust 2018-3   
AMOT184Ally Master Owner Trust 2018-4   
BANKONESER1Chase Issuance Trust   
CITEL051CIT Education Loan Trust 2005-1   
GMALT162GM Financial Automobile Leasing Trust 2016-2  
GMALT163GM Financial Automobile Leasing Trust 2016-3  
GMALT171GM Financial Automobile Leasing Trust 2017-1  
GMALT172GM Financial Automobile Leasing Trust 2017-2  
GMALT173GM Financial Automobile Leasing Trust 2017-3  
GMALT181GM Financial Automobile Leasing Trust 2018-1  
GMALT182GM Financial Automobile Leasing Trust 2018-2  
GMALT183GM Financial Automobile Leasing Trust 2018-3  
GMALT191GM Financial Automobile Leasing Trust 2019-1  
GMALT192GM Financial Automobile Leasing Trust 2019-2  
GMALT193GM Financial Automobile Leasing Trust 2019-3  
GMCAR181GM Financial Consumer Automobile Receivables Trust 2018-1  
GMCAR182GM Financial Consumer Automobile Receivables Trust 2018-2  
GMCAR193GM Financial Consumer Automobile Receivables Trust 2019-3  
GMCAR194GM Financial Consumer Automobile Receivables Trust 2019-4  
GREENTREE961Green Tree Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1996-1
GREENTREE962Green Tree Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1996-2
HUNT2016-1HUNTINGTON AUTO TRUST 2016-1   
NAVIENT151Navient Student Loan Trust 2015-1   
NAVIENT152Navient Student Loan Trust 2015-2   
NAVIENT153Navient Student Loan Trust 2015-3   
NSLT043Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2004-3
NSLT044Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2004-4
NSLT051Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-1
NSLT052Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-2
NSLT053Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-3
NSLT054Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2005-4
NSLT061Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2006-1
NSLT062Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2006-2
NSLT063Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2006-3
NSLT071Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2007-1
NSLT082Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2008-2
NSLT083Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2008-3
NSLT092Nelnet Student Loan Trust Student Loan Asset Backed Notes Series 2009-2
OAKWOOD2000COakwood Mortgage Investors 2000-C Senior/Subordinate Pass-Through Certificates
OAKWOOD2000DOakwood Mortgage Investors Series 2000-D Senior/Subordinate Pass-Through Certificates
SDART144Santander Drive Auto Receivables Trust 2014-4  
SDART145Santander Drive Auto Receivables Trust 2014-5  
SDART152Santander Drive Auto Receivables Trust 2015-2  
SDART154Santander Drive Auto Receivables Trust 2015-4  
SDART155Santander Drive Auto Receivables Trust 2015-5  
SDART161Santander Drive Auto Receivables Trust 2016-1  
SDART162Santander Drive Auto Receivables Trust 2016-2  
SDART163Santander Drive Auto Receivables Trust 2016-3  
SDART171Santander Drive Auto Receivables Trust 2017-1  
SDART172Santander Drive Auto Receivables Trust 2017-2  
SDART173Santander Drive Auto Receivables Trust 2017-3  
SDART181Santander Drive Auto Receivables Trust 2018-1  
SDART182Santander Drive Auto Receivables Trust 2018-2  
SDART183Santander Drive Auto Receivables Trust 2018-3  
SDART184Santander Drive Auto Receivables Trust 2018-4  
SDART185Santander Drive Auto Receivables Trust 2018-5  

 

 Appendix A- 1 

 

 

ABS Platform Transactions
Wells Fargo Deal IdentifierLong Name
SDART191Santander Drive Auto Receivables Trust 2019-1  
SDART192Santander Drive Auto Receivables Trust 2019-2  
SDART193Santander Drive Auto Receivables Trust 2019-3  

 

 Appendic A- 2