Navient rebuffs servicing concerns on student loan ABS

By Ryan Bolger
16 Oct 2014

Navient Corp’s latest private student loan ABS issuance, which settles next week, comes amid regulatory criticism over poor servicing in the industry. But the Sallie Mae spin-off disclosed improved private loan performance on Wednesday and rebuffed assertions that borrowers were unable to refinance their loans.

Private student loans originated by Sallie Mae and Navient resulted in 1,996 complaints submitted to the Consumer Financial Protection Bureau between October 2013 and September 2014, according to a CFPB report released on Thursday. That marked a 48% increase over the 1,345 Sallie Mae and Navient complaints the ...

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