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| related topics |
| {loss, insurance, financial} |
| {loan, real, estate} |
| {acquisition, growth, future} |
| {stock, price, share} |
| {capital, credit, financial} |
| {tax, income, asset} |
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LENDING BUSINESS SEGMENT FFELP STUDENT LOANS
A larger than expected increase in third party consolidation activity may reduce our FFELP student loan spread, materially impair our Retained Interest and otherwise materially adversely affect our results of operations.
Incorrect estimates and assumptions by management in connection with the preparation of our consolidated financial statements could adversely affect the reported amounts of assets and liabilities and the reported amounts of income and expenses.
LENDING BUSINESS SEGMENT PRIVATE EDUCATION LOANS
Changes in the composition of our Managed student loan portfolio will increase the risk profile of our asset base and our capital requirements.
Past charge-off rates on our Private Education Loans may not be indicative of future charge-off rates because, among other things, we use forbearance policies and our failure to adequately predict and reserve for charge-offs may adversely impact our results of operations.
DEBT MANAGEMENT OPERATIONS BUSINESS SEGMENT
Our growth in our DMO business segment is dependent in part on successfully identifying, consummating and integrating strategic acquisitions.
Our DMO group may not be able to purchase defaulted consumer receivables at prices that management believes to be appropriate, and a decrease in our ability to purchase portfolios of receivables could adversely affect our net income.
If our stock price falls significantly we may be required to settle our equity forward positions in a manner that could have a materially dilutive effect on our common stock.
Because we fund most of our daily reset commercial paper-indexed FFELP student loans with daily reset LIBOR funding, we are exposed to interest rate risk in the form of basis risk and repricing risk.
We may face limited availability of financing, variation in our funding costs and uncertainty in our securitization financing.
Our business is subject to a number of risks, uncertainties and conditions, some of which are not within our control, including general economic conditions, increased competition, adverse changes in the laws and regulations that govern our businesses and failure to successfully identify, consummate and integrate strategic acquisitions.
Our GAAP earnings are highly susceptible to changes in interest rates because most of our derivatives do not qualify for hedge accounting treatment under SFAS No. 133.
Full 10-K form ▸
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