Navient Corp(NAVI)- NASDAQ
  • Aug. 25, 2015, 3:19 PM
    • Navient (NAVI -5.2%) sinks to 52-week lows on news its Navient Solutions received notice that the Consumer Financial Protection Bureau may take legal action over how it handles loans.
    • "The Notice and Opportunity to Respond and Advise letter relates to a previously disclosed investigation into NSI's disclosures and assessment of late fees and other matters and states that, in connection with any action, the CFPB may seek restitution, civil monetary penalties and corrective action against NSI," the company said in an SEC filing.
    • Navient says it believes its practices are lawful and meet industry standards.
    | Aug. 25, 2015, 3:19 PM
  • Jul. 14, 2015, 12:45 PM
    | Jul. 14, 2015, 12:45 PM | 5 Comments
  • Jul. 13, 2015, 5:35 PM
    | Jul. 13, 2015, 5:35 PM | 7 Comments
  • Jul. 13, 2015, 5:08 PM
    • Navient (NASDAQ:NAVI) now expects Q2 EPS of $0.40 (below a $0.55 consensus) and 2015 EPS of $1.85 (below a $2.20 consensus).
    • The company adds it has removed additional private loan acquisitions from its 2015 guidance due to "aggressive market pricing for private education loan portfolios," cut its net interest income forecast due to increased cost of funds, and is seeing "unfavorable credit trends" for loans to "higher risk private education loan borrowers who returned to school during the recession." It now expects a 2015 private education loan loss provision of $575M-$600M.
    • A "restructuring initiative" was launched in Q2. $29M worth of related Q2 GAAP expenses are expected to be recorded.
    • CEO Jack Remondi: "The changes to our guidance reflect marketplace conditions for private loan portfolio purchases and cost of funds, as well as a conservative assessment of default trends for a small and declining segment of our private education loan portfolio ... we continue to believe that there will be opportunities for Navient to acquire loans in 2015 and beyond."
    • Shares have tumbled to $16.12 AH, making new 52-week lows along the way. Q2 results arrive on July 21.
    | Jul. 13, 2015, 5:08 PM
  • Mar. 2, 2015, 12:49 PM
    | Mar. 2, 2015, 12:49 PM | 1 Comment
  • Mar. 2, 2015, 9:15 AM
    | Mar. 2, 2015, 9:15 AM | 4 Comments
  • May 1, 2014, 7:32 AM
    • Sallie Mae (SLM) is trading at $20.55 in the premarket vs. last night's $25.75 close amid the spinoff of its legacy private and student loans business, Navient (NAVI). Sallie Mae owners receive today one share of Navient for each share of SLM in their portfolio.
    • Compass Point is first out with coverage, starting Navient with a Buy.
    | May 1, 2014, 7:32 AM
Company Description
SLM Corp. engages in the origination, servicing and administration of education loans. It operates through four business segments: Consumer Lending, Business Services, FFELP Loans and Other. The Consumer Lending segment originates, acquires, finances and services private education loans. These... More
Sector: Technology
Industry: Information Technology Services
Country: United States