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
Check below for free stories on SLM the last two weeks.
Sallie Mae sees FY14 EPS 41c-43c, consensus 48c The company expects full-year private education loan originations of $4B, full-year operating expenses of $312M, including $32M of reorganization expenses, $1.2B of private education loan sales in the second half of the year, and provision for private education loan losses of approximately $60M in the second half of the year.
Sallie Mae names Jeffrey Dale as company’s first Chief Risk Officer Sallie Mae (SLM) appointed Jeffrey Dale as the company’s first Chief Risk Officer. Mr. Dale will work with senior executives and other company stakeholders to build out the enterprise risk management function and framework for the company and its Sallie Mae Bank subsidiary. Mr. Dale arrives from Citigroup (C) where he most recently served as the North American Group Risk Director responsible for consumer credit in the United States, Puerto Rico and Canada.