EXHIBIT 33.2

[LOGO] UnionBank

MANAGEMENTS REPORT ON ASSESSMENT OF COMPLIANCE WITH SEC

REGULATION AB SERVICING CRITERIA

Union Bank, N.A. (the Bank) provides this assessment of compliance with the following applicable servicing criteria set forth in Item 1122(d) of Regulation AB 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: Certain retail installment contracts for World Omni Financial Corporation (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)(1)(i), (1)(ii), (1)(iii), (1)(iv), (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 (Applicable Servicing Criteria).

Period: As of and for the year ended December 31, 2011 (the Period).

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

1. The Bank is responsible for assessing its 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 used the criteria set forth by the Securities and Exchange Commission in paragraph (d) of Item 1122 of Regulation AB.

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

Deloitte and Touch 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.



|                                           |  |                  
|------------------------------------------ |  | -----------------
|Corporate Trust                            |  | Tel. 415 273 2498
|350 California Street, 11th Floor          |  | Fax 415 273 2492 
|San Francisco, CA 94104                    |  |                  
|                                           | 
|A member of MUFG, a global financial group |  |                  



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[LOGO] UnionBank

UNION BANK, N.A.



|    |  |                                        
|--- |  | ---------------------------------------
|    | 
|By: |  | /s/ David A.
Anderson                  
|    |  | David A. Anderson                      
|    |  | Executive Vice President and Controller

|    |  |                                           
|--- |  | ------------------------------------------
|    | 
|By: |  | /s/ Ralph
Renninghoff                     
|    |  | Ralph Renninghoff                         
|    |  | Vice President, Corporate Trust Department

February 17, 2012



|                                           |  |                  
|------------------------------------------ |  | -----------------
|Corporate Trust                            |  | Tel. 415 273 2498
|350 California Street, 11th Floor          |  | Fax 415 273 2492 
|San Francisco, CA 94104                    |  |                  
|                                           | 
|A member of MUFG, a global financial group |  |