DebtMarket and Education Loan Source Team Up with New Debt Sales Options for Student Loans

Los Angeles and San Diego – DebtMarket, the world’s online marketplace for buying and selling whole loan portfolios, today announces its strategic partnership with Education Loan Source (ELS).  Through this partnership, ELS offers their clients in the educational finance space access to DebtMarket’s online technology platform where loan portfolios of any size, credit quality and loan performance can be listed. The innovative platform can also establish and negotiate price using an auction-style marketplace, perform due diligence and fund and close transactions. There is no cost to the institution for using the DebtMarket platform until a sale closes.

As the number of student loans has risen by 29% over the last two years, and the outstanding balance of these loans has increased from $422 billion to $527 billion, opportunities are growing for lenders to substantially increase their education lending. The ELS/DebtMarket partnership offers an entirely new approach to managing risk and boosting liquidity.

“This partnership with DebtMarket provides our clients what they have been asking for in the marketplace, but no one has been able to offer,” said ELS CEO, Doug Feist.  “An advanced technology-based, secondary marketplace for student loans. We can now offer our schools a much-needed, neutral platform which will allow them to increase portfolio sales and lending capacity.”

“The DebtMarket platform, when paired with the advisory services offered by companies like ELS, helps lenders better understand how to underwrite loans by providing a venue where they can evaluate their true marketplace value,” added DebtMarket co-founder and President Mike Sheridan.  “With DebtMarket, lenders can list loans for sale, test the market’s pricing appetite, and conduct negotiations, due diligence and closing all in one place.  Ultimately, we believe that the availability of this fluid secondary market will result in more accurate pricing, greater transaction efficiency at a lower cost and the ability for lenders to free up funds to make more student loans.”

About DebtMarket
DebtMarket is the world’s first automated marketplace that connects buyers and sellers of loan portfolios. The innovative DebtMarket technology platform delivers price transparency, process automation and direct buyer/seller communication in a secure online environment. For more information on the DebtMarket transaction process and technology, please visit www.debtmarket.com or call 866-559-4339.

About Education Loan Source, Inc.
Education Loan Source, Inc. (ELS) (www.educationloansource.com) is a nationwide specialty financial services company that provides diversified lending solutions for schools and lenders in the education finance marketplace. The company is based in San Diego, CA and has offices in Ohio, Pennsylvania, and Arizona. For more information on Education Loan Source, please call 888-335-6261.