Navient Corporation (NASDAQ:NAVI) Files An 8-K Other EventsITEM 8.01
On March 28, 2017, Navient Corporation (the “Company”) received notice from the Federal Deposit Insurance Corporation (the “FDIC”) that, effective March 23, 2017, the Consent Order and Order for Restitution (Docket No. FDIC-13-0382b), issued by the FDIC on May 13, 2014 against Navient Solutions, Inc., now Navient Solutions, LLC, a wholly-owned subsidiary of the Company, has been terminated with no conditions.
About Navient Corporation (NASDAQ:NAVI)
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies. Private Education Loans are education loans to students or their families that bear the full credit risk of the customer and any cosigner. The Company operates in three segments: FFELP Loans, Private Education Loans and Business Services. The Company services its own portfolio of education loans, as well as those owned by banks, credit unions, non-profit education lenders and ED. It also provides asset recovery services on its own portfolio, guaranty agencies, higher education institutions, ED and other federal clients, as well as states, courts and municipalities. Navient Corporation (NASDAQ:NAVI) Recent Trading Information
Navient Corporation (NASDAQ:NAVI) closed its last trading session down -0.06 at 14.44 with 2,181,553 shares trading hands.