Attached files
for the period from January 1, 2011 through December 31, 2011 (the "Reporting Period"), as set forth in
Appendix A hereto. The transactions covered by this report include publicly issued asset-backed securities
transactions involving United States consumer automotive retail installment sale contracts for which Mercedes-
Benz Financial Services USA LLC acts as servicer (the "Platform").
and Mercedes-Benz Financial Services USA LLC elects to take responsibility for assessing compliance with
the servicing criteria or portion of the servicing criteria applicable to such Vendors' activities as set forth in
Appendix A hereto as permitted by Interpretation 17.06 of the SEC Division of Corporation Finance Manual of
Publicly Available Telephone Interpretations;
not applicable to Mercedes-Benz Financial Services USA LLC based on the activities Mercedes-Benz
Financial Services USA LLC performs directly or through its Vendors with respect to the Platform. The criteria
set forth in paragraph (d) of Item 1122 of Regulation AB other than the Inapplicable Servicing Criteria are
referred to as the "Applicable Servicing Criteria";
whole, except as described in Appendix B hereto;
Reporting Period with respect to the Platform taken as a whole;
31, 2011 and for the Reporting Period with respect to the Platform taken as a whole; and
December 31, 2011 and for the Reporting Period.
By: /s/ Brian T. Stevens
Vice President and Controller
performance or other triggers and events of default in
accordance with the transaction agreements.
parties, policies and procedures are instituted to monitor
the third party's performance and compliance with such
servicing activities.
maintain a back-up servicer for the pool assets are
maintained.
on the party participating in the servicing function
throughout the reporting period in the amount of coverage
required by and otherwise in accordance with the terms of
the transaction agreements.
X
custodial bank accounts and related bank clearing accounts
no more than two business days following receipt, or such
other number of days specified in the transaction
agreements.
obligor or to an investor are made only by authorized
personnel.
cash flows or distributions, and any interest or other fees
charged for such advances, are made, reviewed and
approved as specified in the transaction agreements
reserve accounts or accounts established as a form of
overcollateralization, are separately maintained (e.g., with
respect to commingling of cash) as set forth in the
transaction agreements.
depository institution as set forth in the transaction
agreements. For purposes of this criterion, "federally
insured depository institution" with respect to a foreign
financial institution means a foreign financial institution
that meets the requirements of Rule 240.13k-1(b)(1) of the
Securities Exchange Act.
unauthorized access.
asset-backed securities related bank accounts, including
custodial
accounts and related bank clearing accounts. These
reconciliations are (A) mathematically accurate; (B)
prepared within 30 calendar days after the bank statement
cutoff date, or such other number of days specified in the
transaction agreements; (C) reviewed and approved by
someone other than the person who prepared the
reconciliation; and (D) contain explanations for reconciling
items. These reconciling items are resolved within 90
calendar days of their original identification, or such other
number of days specified in the transaction agreements.
Commission, are maintained in accordance with the
transaction agreements and applicable Commission
requirements. Specifically, such reports (A) are prepared in
accordance with timeframes and other terms set forth in the
transaction agreements; (B) provide information calculated
in accordance with the terms specified in the transaction
agreements; (C) are filed with the Commission as required
by its rules and regulations; and (D) agree with investors'
or the trustee's records as to the total unpaid principal
balance and number of pool assets serviced by the
Servicer.
accordance with timeframes, distribution priority and other
terms set forth in the transaction agreements.
business days to the Servicer's investor records, or such
other number of days specified in the transaction
agreements.
agree with cancelled checks, or other form of payment, or
custodial bank statements.
required by the transaction agreements or related mortgage
loan documents.
required by the transaction agreements.
are made, reviewed and approved in accordance with any
conditions or requirements in the transaction agreements.
accordance with the related pool asset documents are
posted to the Servicer's obligor records maintained no
more than two business days after receipt, or such other
number of days specified in the transaction agreements,
and allocated to principal, interest or other items (e.g.,
escrow) in accordance with the related pool asset
documents.
the Servicer's records with respect to an obligor's unpaid
principal balance.
pool assets (e.g., loan modifications or re-agings) are
made, reviewed and approved by authorized personnel in
accordance with the transaction agreements and related
pool asset documents.
forth in the transaction agreements. The Indenture Trustee has provided a Report on Compliance with Applicable
Servicing Criteria pursuant to Item 1122 of Regulation AB under the Securities and Exchange Act of 1934.
plans, modifications and deeds in lieu of foreclosure,
foreclosures and repossessions, as applicable) are initiated,
conducted and concluded in accordance with the
timeframes or other requirements established by the
transaction agreements.
during the period a pool asset is delinquent in accordance
with the transaction agreements. Such records are
maintained on at least a monthly basis, or such other period
specified in the transaction agreements, and describe the
entity's activities in monitoring delinquent pool assets
including, for example, phone calls, letters and payment
rescheduling plans in cases where delinquency is deemed
temporary (e.g., illness or unemployment).
assets with variable rates are computed based on the
related pool asset documents.
escrow accounts): (A) such funds are analyzed, in
accordance with the obligor's pool asset documents, on at
least an annual basis, or such other period specified in the
transaction agreements; (B) interest on such funds is paid,
or credited, to obligors in accordance with applicable pool
asset documents and state laws; and (C) such funds are
returned to the obligor within 30 calendar days of full
repayment of the related pool asset, or such other number
of days specified in the transaction agreements.
insurance payments) are made on or before the related
penalty or expiration dates, as indicated on the appropriate
bills or notices for such payments, provided that such
support has been received by the Servicer at least 30
calendar days prior to these dates, or such other number of
days specified in the transaction agreements.
payment to be made on behalf of an obligor are paid from
the Servicer's funds and not charged to the obligor, unless
the late payment was due to the obligor's error or
omission.
within two business days to the obligor's records
maintained by the Servicer, or such other number of days
specified in the transaction agreements.
recognized and recorded in accordance with the transaction
agreements.
Item 1114(a)(1) through (3) or Item 1115 of Regulation
AB, is maintained as set forth in the transaction
agreements.
Exchange Commission in paragraph (d) of Item 1122 of Regulation AB as of December 31, 2011 and for the
Reporting Period, disclosed the following instances of material noncompliance with servicing criteria
1122(d)(4)(vii) and 1122(d)(4)(viii).
initiated, conducted and concluded in accordance with the timeframes or other requirements established by
the transaction agreements.
monitoring delinquent pool assets were not maintained as specified in the transaction agreements.
impacted as a result of the material noncompliance noted above. Nevertheless, Mercedes-Benz Financial Services
USA LLC is exploring procedural and policy changes to achieve full compliance with these requirements.