SIOUX FALLS, S.D., Feb. 9, 2016 /PRNewswire-USNewswire/ -- ReliaMax®, the leading financial technology-based and complete private student lending solutions provider to more than 450 banks and credit unions, announced it has insured over $2.5 billion of both in-school and refinanced student loans since 2009. ReliaMax is the only insurer of private student loans in the country. Combined with industry-leading origination and servicing platforms and capital market solutions, this turnkey package of products and services has enabled the company to achieve this significant milestone.
"The ReliaMax Solution enables banks, credit unions, alternative lenders and capital providers to participate in this growing asset class with virtually no risk," said Michael VanErdewyk, CEO of ReliaMax. "We make it easy, profitable and efficient for lenders to help student borrowers and their families fund higher education costs and build life-long relationships with their next generation of customers."
According to MeasureOne Private Student Loan Performance Report Q3 2015, private student loans continue to show positive trends in repayment, charge-offs, delinquencies, and other areas. The student loan market increased over $2 billion, year over year, with downward trends for delinquency rates as a percentage of repayment continue.
Contributing to ReliaMax's $2.5 billion milestone is its unique, proprietary big data repository of $14 billion worth of private student loan performance and underwriting data on one million borrowers. Leading-edge big data analytics are the foundation of The ReliaMax Solution and provide the over 450 banks and credit union clients peace of mind that their reputational, operational and financial risk is virtually eliminated and meet stringent regulatory requirements.
ReliaMax is the only full service end-to-end platform that offers national, regional and community banks, credit unions and alternative lenders private student loan origination, servicing, insurance and access to capital markets. Founded in 2005, ReliaMax has been profitable every year since 2009.
ReliaMax® is a transformative force in the financial technology industry that has helped over 450 lenders profitably deliver private student loans to their borrower clients. Based on its proprietary database of over $14 billion in private student loans and one million borrowers, ReliaMax offers banks, credit unions, alternative lenders and investors up to 100% loan loss protection with stable returns. The ReliaMax Solution delivers origination, servicing, insurance and capital markets execution. ReliaMax has insured over $2.5 billion in private student loans since 2009, helping over 100,000 borrowers finance their education and achieve their dreams. Learn more at ReliaMax.com.
ReliaMax® is a registered trademark of ReliaMax and/or its affiliates. Other names may be trademarks of their respective owners.