Slm Corporation · NASDAQ:SLM
Slm — Debt Investor Presentation (May 2020)
20 slides from Slm's debt investor presentation, May 8, 2020
Slide 1: Period ended March 31, 2020
Exhibit 99.1 Period ended March 31, 2020 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: SMB Private Education Loan Trust securitization transactions
Date Transaction Date Transaction Date Transaction July 2015 SMB Private Education Loan Trust 2015-B May 2016 SMB Private Education Loan Trust 2016-A February 2017 SMB Private Education Loan Trust 2017-A July 2016 SMB Private Education Loan Trust 2016-B October 2016 SMB Private Education Loan Trust
Slide 4: • • • • • • • • • rights reserved.
• • • • • • • • • Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 4
Slide 5: Serviced Portfolio: 31-60 Day Delinquencies
Smart Option 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
Slide 6: Serviced Portfolio: 61-90 Day Delinquencies
Smart Option Serviced Portfolio: 61-90 Day Delinquencies Smart Option Student Loans - Serviced Portfolio Smart Option Student Loans - Serviced Portfolio (1) (1) 61-90 Day Delinquencies as a % of Loans in P&I Repayment 61-90 Day Delinquencies as a % of Loans in P&I Repayment Data for Sallie Mae Bank
Slide 7: Serviced Portfolio: 91+ Day Delinquencies
Smart Option Serviced Portfolio: 91+ Day Delinquencies Smart Option Student Loans - Serviced Portfolio Smart Option Student Loans - Serviced Portfolio (1) (1) 91+ Day Delinquencies as a % of Loans in P&I Repayment 91+ Day Delinquencies as a % of Loans in P&I Repayment Data for Sallie Mae Bank Data f
Slide 8: Serviced Portfolio: Forbearance
Smart Option 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
Slide 9: Serviced Portfolio: Annualized Gross Defaults
Smart Option Serviced Portfolio: Annualized Gross Defaults Smart Option Student Loans - Serviced Portfolio Annualized Gross Defaults as a % of Loans in P&I Repayment(1) Smart Option Student Loans - Serviced Portfolio Data for Sallie Mae Bank Annualized Gross Defaults as a % of Loans in P&I Repayment
Slide 10: Student Loans Serviced Portfolio: Cumulative Defaults by Vintage
Smart Option Student Loans - Serviced Portfolio: Total Portfolio Smart Option Student Loans - Serviced Portfolio: Interest Only Cumulative Defaults by P&I Repayment Vintage Cumulative Defaults by P&I Repayment Vintage and Years Since First P&I Repayment Period (1) 2010⁽²⁾ and Years Since First P&I R
Slide 11: Voluntary CPR by Disbursement Vintage
► Voluntary prepay speeds trend up as more loans enter P&I repayment. Smart Option Student Loans - Serviced Portfolio: All Products Smart Option Student Loans - Serviced Portfolio: Interest Only (1), (2), (3) Voluntary CPR by Disbursement Vintage Voluntary CPR by Disbursement Vintage (1), (2), (3) D
Slide 12: Total CPR by Disbursement Vintage
► Smart Option Student Loans - Serviced Portfolio: All Products Smart Option Student Loans - Serviced Portfolio: Interest Only (1), (2), (3) Total CPR by Disbursement Vintage (1), (2), (3) Total CPR by Disbursement Vintage 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 9Total 2011(2) $221 0.3% 1.3% 1.6% 1.4% 1.4% 1.0% 0.9% 0.7% 8.5% 2012(2) $52
Slide 16: Deferred (P&I Repayment - Total) Periodic Defaults
Smart Option Deferred (P&I Repayment - Total) P&I Disbursed Principal Periodic Defaults Percentage Repayment Entering P&I by Years Since First P&I Repayment Period (1), (4), (5) Vintage Repayment ($m) 0 1 2 3 4 5 6 7 8 9Total 2012(2) $249 0.1% 1.5% 1.4% 1.6% 1.1% 1.2% 0.8% 7.6% 2013(2) $635 0.1% 1.6
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 formulas
푃푟푒푝푎푦푚푒푛푡� = 퐸푋푃� − 퐴퐶푇� 푆푀푀� = 푃푟푒푝푎푦푚푒푛푡�⁄퐸푋푃� 푆푅� = 퐴퐶푇�⁄퐸푋푃� = 1−푆푀푀� � � 퐶푃푅� =1− � 푆푅� ��� 푤ℎ푒푟푒: 푛 = 푞푢푎푟푡푒푟 푡 = 푚표푛푡ℎ 표푓 푞푢푎푟푡푒푟 Confidential and proprietary information. © 2019 Sallie Mae Bank. All rights reserved. 20