ReliaMax Approved to Insure Private Student Loans In 49 U.S. States and the District of Columbia

Addition of Florida Extends National Coverage

SIOUX FALLS, S.D.--(BUSINESS WIRE)-- ReliaMax®, the leading financial technology-based and complete private student lending solutions provider, today announced that it is approved to do business in the state of Florida. With this addition, ReliaMax is now approved to insure private student loans in 49 U.S. States and the District of Columbia.

“By expanding our services into Florida, we continue our role as the only company to provide comprehensive coverage to financial institutions that make loans in the private student lending asset class,” said Michael VanErdewyk, CEO of ReliaMax. “Financial institutions in this market will now be in a stronger position to securely assist in the funding of the educational aspirations of local students.”

ReliaMax is the nation’s only firm to provide an end-to-end turnkey package of origination, servicing, insurance, and capital markets support on private student loans. ReliaMax Surety Company, an insurance company subsidiary of ReliaMax, works with banks, credit unions, alternative lenders, and institutional investors to provide insurance coverage on private student loans.

“We are proactive in establishing excellent relationships with all of our regulators. Our success is predicated on our commitment to fostering a transparent and proactive relationship with all our state regulators,” said Michael VanErdewyk, CEO of ReliaMax. “Today’s announcement marks a milestone achievement for our company. We are pleased to insure more than 450 banks, credit unions, alternative lenders and capital providers and have insured over $2.6 billion of in-school and refinanced student loans in 49 states and DC since 2009.”

Underlying ReliaMax’s success is its unique, proprietary big data repository of more than $14 billion of private student loan performance and underwriting data on one million borrowers. ReliaMax leverages this data through custom analytical models to help their clients manage their reputational, operational and financial risk and meet stringent regulatory requirements.

About ReliaMax

Founded in 2006, ReliaMax® is a financial technology-based and complete private student lending solutions provider. Hosting a proprietary database of over $14.5 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 and has helped over 450 lenders profitably deliver private student loans to their borrower clients. ReliaMax has insured over $2.6 billion in private student loans since 2009, helping over 100,000 borrowers finance their education and achieve their dreams. Learn more at ReliaMax.com.

Trademarks

ReliaMax® is a registered trademark of ReliaMax and/or its affiliates. Other names may be trademarks of their respective owners.

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Media:

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Source: ReliaMax