ReliaMax, the Nation's Only Insurer of Private Student Loans, Names Management Team of Industry Veterans in Operations, Sales, Technology and Compliance to Expand Offerings and Provide Private Student Loan Origination and Servicing to Banks and Alternative Lenders

SIOUX FALLS, S.D., June 19, 2014 /PRNewswire/ -- ReliaMax, the country's only insurer of private student loans, introduced the leadership team for its entry into the private student loan origination and servicing business, ReliaMax Lending Services, LLC and its technology subsidiary, the Student Loan Technology Company. ReliaMax has been able to insure private student loans for financial institutions using 25 years of performance analytics.

"As the only insurer with deep experience in private student lending, we are completely committed to this market. Our decision to move into private student loan origination and servicing is based on our conviction that private student lending is good business for many lenders because it is ultimately of great value to students and their families," explained Michael VanErdewyk, CEO and Chairman of ReliaMax.

Paul Dockry is leading the operations team as Chief Operating Officer of ReliaMax Lending Services, LLC. In this role, Mr. Dockry oversees the origination and servicing platform being built to support the completion of The ReliaMax Solution^(SM). Mr. Dockry came to ReliaMax after 20 years of leadership within Wells Fargo Bank, N.A.'s education lending business. Mr. Dockry led the organization's technology and operations start-up becoming the second largest private student lending company in the country. Earlier in his career, he worked for EduServ Technologies, formerly known as HEMAR Service Corporation of America.

With the addition of the new leadership team and product offering, ReliaMax will launch The ReliaMax Solution as a fully-integrated private student loan service, enabling lenders to access underwriting and business performance analytics in order to structure high-quality loan portfolios based on decades of data. The ReliaMax Solution has its foundation in being able to provide private student loan origination and servicing but also includes program design, default prevention, regulatory support, insurance and other critical components related to providing a strong private student loan program.

Kevin Moehn is leading the sales effort of the banking channel to convey the full-spectrum of ReliaMax private student loan offerings, from origination and servicing to insurance. Mr. Moehn draws on more than 20 years industry experience. He was the Executive Vice President of Sales and Originations at the Student Loan Marketing Association (SallieMae), the nation's largest provider of student loans, where he led the national sales effort to unprecedented growth. Earlier in his career, Mr. Moehn was President of HEMAR Insurance Corporation of America.

Greg Van Pelt is leading the technology team for ReliaMax Lending Services, Inc. as Vice President of the Student Loan Technology Company. In this role he will focus on the design, development and implementation of integrated student loan support systems used throughout the financial services industry. Mr. Van Pelt leads an experienced team of information technology professionals specializing in private student lending in the ReliaMax technology office in Sacramento, CA.

Prior to joining ReliaMax, Mr. Van Pelt was co-founder and Chief Technology Officer for Cology, a student loan origination provider supporting more than 250 lending institutions. Earlier in his career Mr. Van Pelt was Senior Vice President and Chief Technology Officer for Wachovia's Education Finance division, where he led the development of the first online loan delivery system for the student loan industry and was influential in the design and launch of the industry's premier national data exchange platform (ELM Resources).

Joshua Andersen was named Director of Regulatory Affairs and In-House Counsel to help ReliaMax navigate the industry's evolving and complex regulatory and compliance environment. Before joining ReliaMax, Mr. Andersen was an insurance regulator for the State of South Dakota where he served in a variety of management and legal positions including Assistant Director and General Counsel focusing on property/casualty insurance, compliance and legislation.

"The guiding principle for ReliaMax has always been to help students and their families make an informed decision on financing a college education. That's why we took care to select top industry experts who understand the complexity and nuances of private student lending as we expand into private student loan originations and servicing. I think we've accomplished that with the addition of Paul, Kevin, Greg and Joshua," explained Mr. VanErdewyk.

About ReliaMax
ReliaMax was founded in 2006 to acquire HEMAR, a private student loan company formed in 1986. Many key people from HEMAR joined the ReliaMax team during the transition. Their expertise, along with the proprietary modeling and database from HEMAR, create a compelling combination of industry knowledge and data that represents over $14 billion in private student loan disbursements to more than 900,000 students over 25 years. ReliaMax has insured loans issued by more than 400 financial institutions, to students attending colleges and universities. Private student loans help families close the college financing gap from federal student loan limits. ReliaMax is committed to helping lenders help students, which in the end helps us all.

SOURCE ReliaMax