Sallie Mae has appointed Anthony Terracciano chairman of its board. Former Sallie Mae Chairman Albert Lord, who held the chairman title for three weeks, has been appointed vice chairman and will remain chief executive officer of the company. Terracciano served as the former president of First Union Corp., which is now Wachovia, chairman and CEO of First Fidelity Bank Corp., president and chief operating officer of Mellon Bank, among other positions. John Remondi, who most recently served as portfolio manager at investment manager Par Capital Management, has rejoined Sallie Mae as vice chairman and chief financial officer. Remondi originally joined the student loan lender in 1999. In another highlight for the company, Sallie Mae has come out with its first FFELP student loan deal for 2008, SLM Student Loan Trust 2008-1.
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Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24