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Stock Market & Financial Investment News

News Breaks
November 19, 2012
16:21 EDTSLMSLM Corp. announces retirement of CEO Albert L. Lord, effective Dec. 31, 2013
Sallie Mae, formally SLM Corporation, announced that after service spanning more than 30 years, its vice chairman and CEO Albert L. Lord will retire as CEO, vice chairman and director, effective December 31, 2013. Sallie Mae's board has appointed a search committee to facilitate an effective transition and consider identified internal candidates, as well as qualified external candidates.
News For SLM From The Last 14 Days
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August 8, 2014
09:06 EDTSLMSallie Mae sells $820M of Smart Option Student Loans to Navient
Sallie Mae, formally known as SLM (SLM) announced the completion of the company’s first asset-backed securitization as a standalone consumer banking business and the definitive agreement for its first loan sale. The off-balance sheet securitization consisted of approximately $380M of Smart Option Student Loans. All securities, including the entire residual interest in the loans, were privately placed with a single, third-party investment manager. The company has also signed a definitive agreement to sell approximately $820M of Smart Option Student Loans to Navient (NAVI). The loan sale is expected to close in August.

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