Slm Corporation · NASDAQ:SLM
Slm — Investor Presentation (April 2017)
18 slides from Slm's investor presentation, Apr 26, 2017
Slide 1: Smart Option Student Loan Historical Performance Data
| 1 SALLIE MAE Smart Option Student Loan Historical Performance Data Period ended March 31, 2017 Exhibit 99.1
Slide 2: Forward-Looking Statements and Disclaimer
| 2 Forward-Looking Statements and Disclaimer Cautionary Note Regarding Forward-Looking Statements The following information is current as of March 31, 2017 (unless otherwise noted) and should be read in connection with the press release of SLM Corporation (the “Company”) dated April 19, 2017, annou
Slide 3: Important Information Regarding Historical Loan Performance Data
| 3 Important Information Regarding Historical Loan Performance Data On April 30, 2014 (the “Spin-Off Date”), the former SLM Corporation legally separated (the “Spin-Off”) into two distinct publicly traded entities: an education loan management, servicing and asset recovery business called Navient C
Slide 4: Important Information Regarding Historical Loan Performance Data (cont.)
| 4 Important Information Regarding Historical Loan Performance Data (cont.) Types of Smart Option Student Loan Portfolio Data The portfolio data we used in this report comes from three separate sources of information: (1) Combined Smart Option Student Loan Portfolio Data for Legacy SLM, Navient and
Slide 5: 31-60 Day Delinquencies as a % of Loans in P&I Repayment
| 5 0% 2% 4% 6% 8% 10% D e c- 1 0 M a r- 1 1 Ju n -1 1 S e p -1 1 D e c- 1 1 M a r- 1 2 Ju n -1 2 S e p -1 2 D e c- 1 2 M a r- 1 3 Ju n -1 3 S e p -1 3 D e c- 1 3 M a r- 1 4 Ju n -1 4 S e p -1 4 D e c- 1 4 M a r- 1 5 Ju n -1 5 S e p -1 5 D e c- 1 5 M a r- 1 6 Ju n -1 6 S e p -1 6 D e c- 1 6 M a r- 1
Slide 6: Smart Option Serviced Portfolio: 61-90 Day Delinquencies
| 6 Smart Option Serviced Portfolio: 61-90 Day Delinquencies 0% 2% 4% 6% 8% 10% D e c- 1 0 M a r- 1 1 Ju n -1 1 S e p -1 1 D e c- 1 1 M a r- 1 2 Ju n -1 2 S e p -1 2 D e c- 1 2 M a r- 1 3 Ju n -1 3 S e p -1 3 D e c- 1 3 M a r- 1 4 Ju n -1 4 S e p -1 4 D e c- 1 4 M a r- 1 5 Ju n -1 5 S e p -1 5 D e c
Slide 7: 91+ Day Delinquencies as a % of Loans in P&I Repayment
| 7 0% 2% 4% 6% 8% 10% D e c- 1 0 M a r- 1 1 Ju n -1 1 S e p -1 1 D e c- 1 1 M a r- 1 2 Ju n -1 2 S e p -1 2 D e c- 1 2 M a r- 1 3 Ju n -1 3 S e p -1 3 D e c- 1 3 M a r- 1 4 Ju n -1 4 S e p -1 4 D e c- 1 4 M a r- 1 5 Ju n -1 5 S e p -1 5 D e c- 1 5 M a r- 1 6 Ju n -1 6 S e p -1 6 D e c- 1 6 M a r- 1
Slide 8: Loans in Forbearance
| 8 Data as of March 31, 2017. (1) Loans in P&I Repayment and Forbearance include loans in forbearance and loans for which scheduled principal and interest payments were due at the end of the applicable monthly reporting period. (2) P&I Repayment Vintage is defined as the calendar year during which
Slide 9: Annualized Gross Defaults as a % of Loans in P&I Repayment
| 9 0% 2% 4% 6% 8% 10% D e c- 1 0 M a r- 1 1 Ju n -1 1 S e p -1 1 D e c- 1 1 M a r- 1 2 Ju n -1 2 S e p -1 2 D e c- 1 2 M a r- 1 3 Ju n -1 3 S e p -1 3 D e c- 1 3 M a r- 1 4 Ju n -1 4 S e p -1 4 D e c- 1 4 M a r- 1 5 Ju n -1 5 S e p -1 5 D e c- 1 5 M a r- 1 6 Ju n -1 6 S e p -1 6 D e c- 1 6 M a r- 1
Slide 10: Smart Option Vintage Data: Cumulative Gross Default by Loan Type
| 10 Smart Option Vintage Data: Cumulative Gross Default by Loan Type 6.7% 5.9% 4.7% 4.0% 3.6% 2.3% 0.3%0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 0 1 2 3 4 5 6 7 8 9 C u m u la ti v e D e fa u lt s a s a % o f D is b u rs e d P ri n c ip a l E n te ri n g P & I R e p a y m e n t Years Since First P&I Repaym
Slide 11: Smart Option Vintage Data: Voluntary Prepayments
| 11 Smart Option Vintage Data: Voluntary Prepayments ► Voluntary prepay speeds trending up as more loans enter P&I repayment Data as of March 31, 2017. (1) Data for all loans from initial disbursement, whether or not scheduled payments are due. Voluntary CPR includes only voluntary prepayments. (2)
Slide 12: Smart Option Vintage Data: Total Prepayments
| 12 Smart Option Vintage Data: Total Prepayments ► Following the initial few years after disbursement, total prepayments begin to rise more quickly as loans begin to default. 0% 2% 4% 6% 8% 10% 12% 14% 16% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 % C P R Quarters Since Disbursement Sma
Slide 13: Smart Option: Cumulative Recoveries
| 13 Smart Option: Cumulative Recoveries Data as of March 31, 2017. (1) Certain data used in the charts above was provided by Navient under a data sharing agreement. Sallie Mae Bank has not independently verified, and is not able to verify, the accuracy or completeness of the data provided under the
Slide 14: Definitions of Terms Used in Cohort Default Triangles
| 14 Terms and calculations used in the cohort default triangles are defined below: First P&I Repayment Period – The month during which a borrower is first required to make a full principal and interest payment on a loan. P&I Repayment Vintage – The calendar year of a loan’s First P&I Repayment
Slide 15: Cohort Default Triangles – Smart Option Combined
| 15 Cohort Default Triangles – Smart Option Combined (Interest Only, Fixed Payment & Deferred) Data as of March 31, 2017. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14 for
Slide 16: Cohort Default Triangles – Smart Option Interest Only
| 16 Cohort Default Triangles – Smart Option Interest Only Data as of March 31, 2017. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14 for a description and explanation of the
Slide 17: Cohort Default Triangles – Smart Option Fixed Payment
| 17 Cohort Default Triangles – Smart Option Fixed Payment Data as of March 31, 2017. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14 for a description and explanation of the
Slide 18: Cohort Default Triangles – Smart Option Deferred Payment
| 18 Cohort Default Triangles – Smart Option Deferred Payment Data as of March 31, 2017. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14 for a description and explanation of