YourLoanAdviser Now Services $275 Million in Private Student Loans

YourLoanAdviser(R) Now Services $275 Million in Private Student Loans

More lenders acquiring portfolios and organic growth of existing base drives demand for private student loan origination, servicing and insurance

Sioux Falls, SD – April 25, 2017 – YourLoanAdviser(R), the complete private student lending solutions provider for banks, credit unions and alternative lenders, says it services $275 million in loans, an increase of nearly 670 percent from the close of 2015, driven by portfolio conversions that helped banks, credit unions and alternative lenders enter the private student loan asset class.

“We’re on a solid growth trajectory as more lenders are offering private student loans and we’re seeing strong demand for origination, servicing, and insuring those loans,” says Michael VanErdewyk, Chairman and CEO of YourLoanAdviser. “Apart from portfolio conversions, we’re benefitting from higher originations from our existing clients, and we have our eyes on further expansion across in-school, refinance and specialty private student loan programs such as for international medical degrees and for students from abroad that are pursuing their MBA degrees in the U.S. We anticipate servicing more than $500 million in loans by the end of the year,” VanErdewyk says.

The YourLoanAdviser loan servicing platform was built with the latest technology and exclusively for private student loans, making it unencumbered by the infrastructure constraints facing other student loan servicers whose platforms were designed to principally serve federal student loans or other consumer loans.

YourLoanAdviser provides a responsively designed Web-based application and an end-to-end secure online capability for all types of private student loans. Features include easy-to-navigate account information look-up, robust self-service payments with functionality for different types of financial accounts, and secure messaging and document upload. Additional features include flexible payment, collection and automated workflow processes. Clients have access to their loan portfolio information 24/7 and real-time reporting with secure download capability.

“Lenders are looking for a partner with the right enterprise technology solutions and servicing expertise that will allow them to easily enter the private student loan market and make the asset class a top performing investment. Our model is unique in that we bring a comprehensive loan acquisition, origination and servicing solution under one roof, plus we insure the loans, which reduces lenders’ risk to effectively zero,” said Paul Dockry, president of YourLoanAdviser Lending Services, LLC.

Since mid-2015, when the company began to support the transfer and conversion of private student loan portfolios onto the YourLoanAdviser Lending Services platform, four new client lenders – that had acquired five private student loan portfolios – have converted the servicing to YourLoanAdviser from the incumbent student loan servicing organization. YourLoanAdviser also insures these loans, through an affiliate YourLoanAdviser Surety Company. The portfolio conversions occur real-time with no impact to existing customers to access their accounts on the platform.

YourLoanAdviser does the entire loan servicing in-house, from the contact center to the singular loan specialist who works with the borrower through the life of the loan, from application through loan funding, disbursement, fulfillment and repayment.

In February 2017, YourLoanAdviser announced its latest private student loan servicing relationship with MetaBank, which acquired and converted a $151 million portfolio of over 5,000 loans onto the YourLoanAdviser Lending Services platform.

About YourLoanAdviser
Founded in 2005, YourLoanAdviser has redefined profitable private student lending for over 500 banks, credit unions, alternative lenders and investors. Through its complete Private Student Loan Platform-as-a-Service solution which includes originating, servicing, borrower acquisition, portfolio liquidity and insurance provided by YourLoanAdviser Surety Company*, YourLoanAdviser enables lenders to quickly, easily and safely help student borrowers realize their education goals. For more information,
*Not available in California.

YourLoanAdviser(R) is a registered trademark of YourLoanAdviser and/or its affiliates. Other names may be trademarks of their respective owners.

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YourLoanAdviser(R) is a registered trademark of YourLoanAdviser and/or its affiliates. Other names may be trademarks of their respective owners.

Media Contact:

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