A surprise frontrunner, SLM Holding Corp. (Sallie Mae) led the pack of issuers for the first quarter 2000, securitizing approximately $4.1 billion in student loans over two deals, which, significantly, topped the company's entire issuance for the year 1999 by $200 million.

"I think the first quarter can be viewed as somewhat representative of what our plans are for the remainder of the year," said Jack F. Remondi, senior vice president and treasurer of Sallie Mae.

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