EXHIBIT 33.2



MANAGEMENT’S REPORT ON ASSESSMENT
OF COMPLIANCE WITH SEC

REGULATION AB SERVICING CRITERIA



MUFG Union Bank, N.A. (the "Bank"),
a wholly-owned subsidiary of MUFG Americas Holdings Corporation, provides this assessment of compliance with the following applicable
servicing criteria set forth in Item 1122(d) of Securities and Exchange Commission's Regulation AB Servicing Criteria promulgated
by 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:



Platform: The retail installment contracts
for all asset-backed notes of automobile lease contracts serviced by World Omni Financial Corp (the "Platform").



Applicable Servicing Criteria:
All servicing criteria set forth in Item 1122(d), to the extent required in the related transaction agreements or required by
the Item 1122(d) servicing criteria in regards to the activities performed by the Bank, except for the following criteria:
1122(d) l(i), l(ii), l(iii),l(iv), l(v), 2(i), 2(iii), 2(vi), 2(vii), 3(i), 4(i), 4(ii), 4(iii), 4(iv), 4(v), 4(vi), 4(vii),
4(viii), 4(ix),4(x), 4(xi), 4(xii), 4(xiii), 4(xiv), and 4(xv), which management has determined are not applicable to the
activities the Bank performs with respect to the Platform (the "Applicable Servicing Criteria").



Period: As of December 31, 2015 and
for the period from January 1, 2015 to December 31, 2015 (the "Period").



With respect to the Platform and the Period,
the Bank provides the following assessment of compliance with respect to the Applicable Servicing Criteria:



| | 1. | The Bank is responsible for assessing its compliance with
the Applicable Servicing Criteria.
| | -- | --------------------------------------------------------------------------------------------



| | 2. | The Bank has assessed compliance with the Applicable Servicing
Criteria, as described above as of and for the Period. In performing this assessment, management has used the criteria set by
the Securities and Exchange Commission in paragraph (d) of Item 1122 of Regulation AB.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | With respect to servicing criterion 1122(d)(3)(ii), the
Bank is not responsible for allocating amounts due to investors.
| | -- | ------------------------------------------------------------------------------------------------------------------------



| | 4. | The Bank was in compliance with the Applicable Servicing
Criteria as of and for the Period in all material respects.
| | -- | --------------------------------------------------------------------------------------------------------------------



Deloitte and Touche LLP, an independent registered
public accounting firm, has issued an attestation report with respect to the Bank's foregoing assessment of compliance as of and
for the Period.



MUFG UNION BANK, N.A.



|By:                                         | /s/ David Ursa  | 
|------------------------------------------- | --------------- | 
|David Ursa                                  |                
|Managing Director and Business Line Manager |                
|                                            |                 | 
|By:                                         | /s/ James Myers | 
|James Myers                                 |                
|Director and Segment Manager                |                
|                                            |                
|March 8, 2016                               |