RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2020

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

The Company has various debt agreements with Santander. For a listing of these debt agreements, see Note 11 to the Consolidated Financial Statements of the Company's Annual Report on Form 10-K for the year ended December 31, 2019. The Company and its affiliates also entered into or were subject to various service agreements with Santander and its affiliates. Each of these agreements was made in the ordinary course of business and on market terms.

During the six-month period ended June 30, 2019, the Company received $75.9 million of capital contributions from Santander. During the six-month period ended June 30, 2020, the Company did not receive any capital contributions from Santander.

On March 29, 2017, SC entered into an MSPA with Santander, under which it has the option to sell a contractually determined amount of eligible prime loans to Santander through the Santander Private Auto Issuing Note trust securitization platform, for a term that ended in December 2018. SC provided servicing on all loans originated under this arrangement. Servicing fee income of $5.2 million and $11.2 million were recognized in the Condensed Consolidated Statements of Operations for the three-month and six-month periods ended June 30, 2020, respectively, and $7.7 million and $16.1 million for the three-month and six-month periods ended June 30, 2019, respectively. SC had $7.1 million and $8.2 million of collections due to Santander as of June 30, 2020 and December 31, 2019, respectively.

Beginning in 2018, SC agreed to provide SBNA with origination support services in connection with the processing, underwriting, and purchase of RICs, primarily from Chrysler dealers. In addition, SC agreed to perform the servicing for any RICs originated on SBNA's behalf. For the three-month and six-month periods ended June 30, 2020, SC facilitated the purchase of $1.7 billion and $2.8 billion, respectively, of RICs. For the three-month and six-month periods ended June 30, 2019, SC facilitated the purchase of $1.9 billion and $3.0 billion, respectively, of RICs. SC recognizes referral fee income and servicing fee income related to this agreement that eliminates in the consolidation of SHUSA.

BSI enters into transactions with affiliates in the ordinary course of business. As of June 30, 2020, BSI held interest-bearing deposits with an unconsolidated affiliate of $1.0 billion.