The upshot of Sallie Mae's recent acquisition of Arrow Financial Services on the consumer debt purchaser's securitization activities is still uncertain. However, Arrow Chief Financial Officer Michael Valentino intends to stay in the ABS game for the exposure.

"Sallie Mae was surprised to find during their due diligence that our internal cost of funds was cheaper than the capital markets," Valentino said. "We want to stay in the capital markets for the intangible benefits we believe accrue from being an ABS issuer."

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