Slm Corporation · NASDAQ:SLM
Slm — Investor Presentation (February 2020)
20 slides from Slm's investor presentation, Feb 3, 2020
Slide 1: Period ended December 31, 2019
Exhibit 99.1 Period ended December 31,2019 Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved.
Slide 2: rights reserved.
Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 2
Slide 3: rights reserved.
Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 3
Slide 4: • • • • • • • • • rights reserved.
• • • • • • • • • Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 4
Slide 5: Student Loans - Serviced Portfolio: 31-60 Day Delinquencies
Smart Option Student Loans - Serviced Portfolio Smart Option Student Loans - Serviced Portfolio 31-60 Day Delinquencies as a % of Loans in P&I Repayment (1) 31-60 Day Delinquencies as a % of Loans in P&I Repayment (1) Data for Sallie Mae Bank Data for Sallie Mae Bank P&I Repayment Vintages 2011-2019
Slide 6: Student Loans - Serviced Portfolio: 61-90 Day Delinquencies
Smart Option Student Loans - Serviced Portfolio Smart Option Student Loans - Serviced Portfolio 61-90 Day Delinquencies as a % of Loans in P&I Repayment (1) 61-90 Day Delinquencies as a % of Loans in P&I Repayment (1) Data for Sallie Mae Bank Data for Sallie Mae Bank P&I Repayment Vintages 2011-2019
Slide 7: Student Loans - Serviced Portfolio: 91+ Day Delinquencies
Smart Option Student Loans - Serviced Portfolio Smart Option Student Loans - Serviced Portfolio 91+ Day Delinquencies as a % of Loans in P&I Repayment (1) 91+ Day Delinquencies as a % of Loans in P&I Repayment (1) Data for Sallie Mae Bank Data for Sallie Mae Bank P&I Repayment Vintages 2011-2019 (2)
Slide 8: Student Loans - Serviced Portfolio: Forbearance
Smart Option Student Loans - Serviced Portfolio Smart Option Student Loans - Serviced Portfolio Forbearance as a % of Loans in P&I Repayment and Forbearance (1) Forbearance as a % of Loans in P&I Repayment and Forbearance (1) Data for Sallie Mae Bank Data for Sallie Mae Bank P&I Repayment Vintages 2
Slide 9: Student Loans - Serviced Portfolio: Annualized Gross Defaults
Smart Option Student Loans - Serviced Portfolio Smart Option Student Loans - Serviced Portfolio Annualized Gross Defaults as a % of Loans in P&I Repayment(1) Annualized Gross Defaults as a % of Loans in P&I Repayment(1) Data for Sallie Mae Bank Data for Sallie Mae Bank P&I Repayment Vintages 2011-20
Slide 10: Cumulative Defaults by P&I Repayment Vintage
Smart Option Student Loans - Serviced Portfolio: All Products Smart Option Student Loans - Serviced Portfolio: Interest Only Cumulative Defaults by P&I Repayment Vintage Cumulative Defaults by P&I Repayment Vintage (1) and Years Since First P&I Repayment Period 2010⁽²⁾ and Years Since First P&I Repa
Slide 11: Total CPR by Disbursement Vintage
► Following the initial few years after disbursement, total prepayments begin to rise more quickly as loans begin to default. Smart Option Student Loans - Serviced Portfolio: All Products Smart Option Student Loans - Serviced Portfolio: Interest Only Total CPR by Disbursement Vintage (1), (2), (3) T
Slide 12: Total CPR by Disbursement Vintage
► Smart Option Student Loans - Serviced Portfolio: All Products Smart Option Student Loans - Serviced Portfolio: Interest Only Total CPR by Disbursement Vintage (1), (2), (3) Total CPR by Disbursement Vintage (1), (2), (3) Data for Legacy SLM thru April 30, 2014 and Sallie Mae Bank since May 1, 2014
Slide 13: Combined (P&I Repayment - Total) Periodic Defaults
Smart Option Combined (P&I Repayment - Total) P&I Disbursed Principal Periodic Defaults Percentage Repayment Entering P&I by Years Since First P&I Repayment Period (1), (4), (5) Vintage Repayment ($m) 0 1 2 3 4 5 6 7 8 9 Total 2010(2) $428 1.2% 1.3% 1.2% 1.0% 0.9% 0.5% 0.4% 0.4% 0.3% 7.2% 2011(2) $9
Slide 14: Interest Only (P&I Repayment - Total) Periodic Defaults
Smart Option Interest Only (P&I Repayment - Total) P&I Disbursed Principal Periodic Defaults Percentage Repayment Entering P&I by Years Since First P&I Repayment Period (1), (4), (5) Vintage Repayment ($m) 0 1 2 3 4 5 6 7 8 9 Total 2010(2) $426 1.2% 1.3% 1.2% 1.0% 0.9% 0.5% 0.4% 0.4% 0.2% 7.2% 2011(
Slide 15: Fixed Payment (P&I Repayment - Total) Periodic Defaults
Smart Option Fixed Payment (P&I Repayment - Total) P&I Disbursed Principal Periodic Defaults Percentage Repayment Entering P&I by Years Since First P&I Repayment Period (1), (4), (5) Vintage Repayment ($m) 0 1 2 3 4 5 6 7 8 9 Total 2011(2) $221 0.3% 1.3% 1.6% 1.4% 1.4% 1.0% 0.9% 0.7% 8.5% 2012(2) $5
Slide 16: Deferred (P&I Repayment - Total) Periodic Defaults
Smart Option Deferred (P&I Repayment - Total) P&I Disbursed Principal Periodic Defaults Percentage Repayment Entering P&I by Years Since First P&I Repayment Period (1), (4), (5) Vintage Repayment ($m) 0 1 2 3 4 5 6 7 8 9 Total 2012(2) $249 0.1% 1.5% 1.4% 1.6% 1.1% 1.2% 0.8% 7.6% 2013(2) $635 0.1% 1.
Slide 17: rights reserved.
Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 17
Slide 18: o o o o o o rights reserved.
o o o o o o Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 18
Slide 19: rights reserved.
Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 19
Slide 20: CPR calculation methodology
푃푟푒푝푎푦푚푒푛푡푡 = 퐸푋푃푡 − 퐴퐶푇푡 푆푀푀푡 = 푃푟푒푝푎푦푚푒푛푡푡Τ퐸푋푃푡 푆푅푡 = 퐴퐶푇푡Τ퐸푋푃푡 = 1 − 푆푀푀푡 4 3 퐶푃푅푛 = 1 − ෑ 푆푅푡 푡=1 푤ℎ푒푟푒: 푛 = 푞푢푎푟푡푒푟 푡 = 푚표푛푡ℎ 표푓 푞푢푎푟푡푒푟 Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 20