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Stock Market & Financial Investment News

News Breaks
December 5, 2012
17:22 EDTFMDMangrove Partners reports 9.9% passive stake in First Marblehead
News For FMD From The Last 14 Days
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November 10, 2014
16:18 EDTFMDFirst Marblehead reports Q1 EPS (92c), consensus (72c)
Reports Q1 revenue $14.1M, consensus $13.31M.
15:53 EDTFMDCredit Suisse to hold a conference
Healthcare Conference is being held in Scottsdale, Arizona on November 10-13 with webcasted company presentations to begin on November 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
09:09 EDTFMDFirst Marblehead, Firstmark Services form strategic partnership
The First Marblehead Corporation (FMD) and Firstmark Services, a Nelnet (NNI) company, have formed a strategic partnership pursuant to which Firstmark Services will provide certain private student loan origination services for the Monogram-based loan programs offered by First Marblehead's lender clients. First Marblehead will continue to perform all of the quantitative and analytical related activities for all of the Monogram-based loan programs, such as product design, credit decisioning, pricing and portfolio management functions. Firstmark Services will perform application intake, call center services, the majority of loan processing services and certain program support functions. Daniel Meyers, First Marblehead's Chairman and CEO, said, "[We] believe that this will make our operating budget materially more efficient, shifting costs from fixed to variable, and in the first full operating year we expect that our overall financial results will improve by $3M-4M dollars." First Marblehead expects that the transition of loan processing functions to Firstmark Services will be completed during the third quarter of fiscal 2015.

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