Sallie Mae sells residual interest in federally guaranteed student loan trust Sallie Mae announced that it has sold the residual interest in its SLM Student Loan Trust 2007-4 securitization to a third party. Sallie Mae will continue to service the student loans in the trust under existing agreements. The sale will remove student loan assets of $3.8B and related liabilities of $3.7 billion from Sallie Mae’s balance sheet. The gain from the transaction will add 8c to Sallie Mae’s 2013 GAAP and core EPS.
News For SLM From The Last 14 Days
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Consumer protection agency to regulate nonbank student lenders The Bureau of Consumer Financial Protection issued a rule earlier today that will enable it to regulate nonbank student loan servicers. The agency will begin regulating such services next March 1.