The First Marblehead Corp. sold its ownership interest in NC Residuals Owners Trust. The Trust is the owner of the residual interests in all fifteen of the student loan lender's National Collegiate Student Loan Trusts ("NCSLT").

A press release from the firm said that this deal does not impact any of First Marblehead's interests in securitization trusts relating to its GATE transactions. Deutsche Bank Securities, Orrick, Herrington & Sutcliffe and Sonnenschein Nath & Rosenthal advised First Marblehead on the transaction.

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