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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nelnet Inc | NYSE:NNI | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
11.07 | 11.23% | 109.62 | 109.7599 | 100.97 | 103.00 | 183,999 | 00:59:51 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM ABS-15G
ASSET-BACKED SECURITIZER
REPORT PURSUANT TO SECTION 15G OF
THE SECURITIES EXCHANGE ACT OF 1934
Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:
☐ | Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period ________ to _________ |
Date of Report (Date of earliest event reported):
Commission File Number of securitizer:
Central Index Key Number of securitizer:
Name and telephone number, including area code, of the person to
contact in connection with this filing.
Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐
Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐
Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐
☒ | Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2) |
Central Index Key Number of depositor:
Central Index Key Number of sponsor: 0001258602
Nelnet Student Loan Trust 2023-PL1*
(Exact name of issuing entity as specified in its charter)
Central Index Key Number of issuing entity (if applicable):
Central Index Key Number of underwriter (if applicable):
James D. Kruger, (402) 458-2370
Name and telephone number, including area code, of the person to
contact in connection with this filing.
* | Nelnet, Inc., as sponsor/securitizer, is filing this Form ABS-15G in respect of issuances of asset-backed securities by the above referenced issuing entity. |
INFORMATION TO BE INCLUDED IN THE REPORT
PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS
Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer
Attached as Exhibit 99.1 hereto is an agreed-upon procedures report, dated October 19, 2023, of KPMG LLP, obtained by the securitizer, which report sets forth the findings and conclusions, as applicable, of KPMG LLP with respect to certain agreed-upon procedures performed by KPMG LLP.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NELNET, INC. | ||||||
(Securitizer) | ||||||
Date: November 2, 2023 | By: | /s/ James D. Kruger | ||||
Name: | James D. Kruger | |||||
Title: | Chief Financial Officer |
EXHIBIT INDEX
Exhibit No. | Description | |
99.1 | KPMG LLP Agreed-Upon Procedures Report dated October 19, 2023 |
Independent Accountants Agreed-Upon Procedures Report
Nelnet, Inc. (the Company)
BMO Capital Markets Corp.
(together, the Specified Parties)
Re: Nelnet Student Loan Trust 2023-PL1 Data File Procedures
We have performed the procedures described below on the specified attributes in an electronic data file entitled NSLT_2023_2_202308_v2.xlsx provided by the Company on October 5, 2023, containing information on 24,590 student loans (the Student Loans) as of August 31, 2023 (the Data File), which we were informed are intended to be included as collateral in the offering by Nelnet Student Loan Trust 2023-PL1. The Company is responsible for the specified attributes identified by the Company in the Data File.
The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.
The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.
Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:
| The term compared means compared to the information shown and found it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were within the reporting threshold. |
| The term recomputed means recalculated and compared the result to the information shown and found it to be in agreement, unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were within the reporting threshold. |
| The term reporting threshold means that dollar amounts were within $1.00, percentages were within 0.1%, and Graduation Date was within 1 day. |
| The term Nelnet Servicing System means the Companys servicing system. |
| The term Cutoff Date means August 31, 2023. |
| The term Sources means the following information provided by the Company: |
| Loan status and loan type descriptions and mapping provided by the Company, attached hereto as Exhibit B (the Lookup Code Mapping) |
| Note Disbursements Screen, Note Detail 1 Screen, Note Detail 2 Screen, Payment History for Current Principal Balance Screen, Payment History for Loan Status and Interest Rate Screen, Repayment Schedule Screen, Servicing History Screen, Term Adjustment Screen, Transaction History Screen, BLS Main Screen, and Origination Screen within the Nelnet Servicing System |
| Two electronic data files entitled Parti IDFICO.xlsx and FICOAll.xlsx provided by the Company on October 3, 2023, containing information on Borrower FICO and Cosigner FICO (the FICO Lookup Files) |
| A screenshot of the Companys SQL system, provided by the Company on October 11, 2023, containing information on Schools Codes for certain Selected Student Loans (defined below) with a loan_type field in the Data File of USBALT, USBUSB, or BRZNM, for which the Company informed us that the School Code is not required to be updated in the Nelnet Servicing System if the borrower changed schools (the School Code System Screenshot) |
We make no representation regarding the validity, enforceability, or authenticity of such Sources.
| The term Instructions means the instructions provided by the Company pertaining to a procedure, attribute, or methodology, as described in Exhibit C. |
| The term Provided Information means the Sources and Instructions. |
Prior to being provided the Data File, we received one or more earlier versions of the data file on which to perform our procedures. In performing those procedures, we identified differences which were communicated to the Specified Parties. The Data File represents the revised information reflecting resolution of differences communicated as determined appropriate by the Specified Parties. We performed the procedures on the Data File, and the results of those procedures are reflected herein.
The procedures we were instructed by the Company to perform and the associated findings are as follows:
A. | We randomly selected a sample of Student Loans from the Data File, utilizing a confidence level of 95.0%, an expected error rate of 3.0%, and a maximum estimated error occurrence rate (the upper error limit) for each of the attributes not to exceed 5.0%, as instructed by the Company. The selection criteria resulted in a sample of 360 Student Loans (the Selected Student Loans, as listed in Exhibit A attached hereto). |
B. | For each Selected Student Loan, we compared or recomputed the specified attributes in the Data File listed below to or using the corresponding information included in the Sources, utilizing the Instructions, as applicable. The Specified Parties indicated that the absence of any of the information in the Sources or the inability to agree the indicated information from the Data File to the Sources for each of the attributes identified, utilizing the Instructions, as applicable constituted an exception. The Sources are listed in the order of priority. |
Attribute |
Sources / Instructions | |
State of Residence | Address field on BLS Main Screen | |
Loan Status | Status and Next Pmt Dt fields on Note Detail 1 Screen, Servicing History Screen, Status and NPD fields on Payment History for Loan Status and Interest Rate Screen, Lookup Code Mapping, and Instructions | |
Remaining Term | Remaining Term field on Note Detail 1 Screen, Adj Term field on Term Adjustment Screen, Term and Proc Dt fields on Repayment Schedule Screen, and Instructions |
2
Attribute |
Sources / Instructions | |
Interest Rate | Interest Rate field on Note Detail 2 Screen, Int Rate and Eff Dt fields on Payment History for Loan Status and Interest Rate Screen, and Instructions | |
Current Principal Balance | CPB field on Note Detail 2 Screen, End CPB field on Transaction History Screen, and principal payment amounts on Payment History for Current Principal Balance Screen, and Instructions | |
Loan Type | Loan Program field on Note Detail 1 Screen, Lookup Code Mapping, and Instructions | |
Origination Date | Note Disbursements Screen | |
Original FICO | FICO Lookup Files, Instructions | |
Cosigner FICO | FICO Lookup Files, Instructions | |
Maturity Date | Maturity date field on Repayment Schedule Screen, Instructions | |
Account Identification No. | Note ID field on Note Detail 1 Screen | |
Original Principal Balance | Orig Note Amt field on Note Detail 2 Screen | |
Repayment Begin Date | Repay Cnvt Dt on Note Detail 1 Screen, Instructions | |
School Code | School/Name field on Note Detail 2 Screen, School Code System Screenshot, Instructions | |
Graduation Date | Grad Date field on Note Detail 1 Screen |
Based on the results of the procedures performed, there is a 95.0% confidence level that the maximum estimated error occurrence rate for each of the attributes across the entire population of 24,590 Student Loans does not exceed 5.0%. Because we are not engaged to express a conclusion, we do not offer a conclusion based on the application of a sampling technique.
We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.
We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.
The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Student Loans, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters of legal interpretation.
3
The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Student Loans to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Student Loans being securitized, (iii) the compliance of the originator of the Student Loans with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Student Loans that would be material to the likelihood that the issuer of the asset-backed securities will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations (NRSROs).
The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.
This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.
/s/ KPMG LLP
Los Angeles, California
October 19, 2023
4
Exhibit A
The Selected Student Loans
Selected |
Student Loan |
Selected Student Loan Number |
Student Loan |
Selected Student Loan Number |
Student Loan |
Selected Student Loan Number |
Student Loan Number | |||||||
1 | 2023P001 | 51 | 2023P051 | 101 | 2023P101 | 151 | 2023P151 | |||||||
2 | 2023P002 | 52 | 2023P052 | 102 | 2023P102 | 152 | 2023P152 | |||||||
3 | 2023P003 | 53 | 2023P053 | 103 | 2023P103 | 153 | 2023P153 | |||||||
4 | 2023P004 | 54 | 2023P054 | 104 | 2023P104 | 154 | 2023P154 | |||||||
5 | 2023P005 | 55 | 2023P055 | 105 | 2023P105 | 155 | 2023P155 | |||||||
6 | 2023P006 | 56 | 2023P056 | 106 | 2023P106 | 156 | 2023P156 | |||||||
7 | 2023P007 | 57 | 2023P057 | 107 | 2023P107 | 157 | 2023P157 | |||||||
8 | 2023P008 | 58 | 2023P058 | 108 | 2023P108 | 158 | 2023P158 | |||||||
9 | 2023P009 | 59 | 2023P059 | 109 | 2023P109 | 159 | 2023P159 | |||||||
10 | 2023P010 | 60 | 2023P060 | 110 | 2023P110 | 160 | 2023P160 | |||||||
11 | 2023P011 | 61 | 2023P061 | 111 | 2023P111 | 161 | 2023P161 | |||||||
12 | 2023P012 | 62 | 2023P062 | 112 | 2023P112 | 162 | 2023P162 | |||||||
13 | 2023P013 | 63 | 2023P063 | 113 | 2023P113 | 163 | 2023P163 | |||||||
14 | 2023P014 | 64 | 2023P064 | 114 | 2023P114 | 164 | 2023P164 | |||||||
15 | 2023P015 | 65 | 2023P065 | 115 | 2023P115 | 165 | 2023P165 | |||||||
16 | 2023P016 | 66 | 2023P066 | 116 | 2023P116 | 166 | 2023P166 | |||||||
17 | 2023P017 | 67 | 2023P067 | 117 | 2023P117 | 167 | 2023P167 | |||||||
18 | 2023P018 | 68 | 2023P068 | 118 | 2023P118 | 168 | 2023P168 | |||||||
19 | 2023P019 | 69 | 2023P069 | 119 | 2023P119 | 169 | 2023P169 | |||||||
20 | 2023P020 | 70 | 2023P070 | 120 | 2023P120 | 170 | 2023P170 | |||||||
21 | 2023P021 | 71 | 2023P071 | 121 | 2023P121 | 171 | 2023P171 | |||||||
22 | 2023P022 | 72 | 2023P072 | 122 | 2023P122 | 172 | 2023P172 | |||||||
23 | 2023P023 | 73 | 2023P073 | 123 | 2023P123 | 173 | 2023P173 | |||||||
24 | 2023P024 | 74 | 2023P074 | 124 | 2023P124 | 174 | 2023P174 | |||||||
25 | 2023P025 | 75 | 2023P075 | 125 | 2023P125 | 175 | 2023P175 | |||||||
26 | 2023P026 | 76 | 2023P076 | 126 | 2023P126 | 176 | 2023P176 | |||||||
27 | 2023P027 | 77 | 2023P077 | 127 | 2023P127 | 177 | 2023P177 | |||||||
28 | 2023P028 | 78 | 2023P078 | 128 | 2023P128 | 178 | 2023P178 | |||||||
29 | 2023P029 | 79 | 2023P079 | 129 | 2023P129 | 179 | 2023P179 | |||||||
30 | 2023P030 | 80 | 2023P080 | 130 | 2023P130 | 180 | 2023P180 | |||||||
31 | 2023P031 | 81 | 2023P081 | 131 | 2023P131 | 181 | 2023P181 | |||||||
32 | 2023P032 | 82 | 2023P082 | 132 | 2023P132 | 182 | 2023P182 | |||||||
33 | 2023P033 | 83 | 2023P083 | 133 | 2023P133 | 183 | 2023P183 | |||||||
34 | 2023P034 | 84 | 2023P084 | 134 | 2023P134 | 184 | 2023P184 | |||||||
35 | 2023P035 | 85 | 2023P085 | 135 | 2023P135 | 185 | 2023P185 | |||||||
36 | 2023P036 | 86 | 2023P086 | 136 | 2023P136 | 186 | 2023P186 | |||||||
37 | 2023P037 | 87 | 2023P087 | 137 | 2023P137 | 187 | 2023P187 | |||||||
38 | 2023P038 | 88 | 2023P088 | 138 | 2023P138 | 188 | 2023P188 | |||||||
39 | 2023P039 | 89 | 2023P089 | 139 | 2023P139 | 189 | 2023P189 | |||||||
40 | 2023P040 | 90 | 2023P090 | 140 | 2023P140 | 190 | 2023P190 | |||||||
41 | 2023P041 | 91 | 2023P091 | 141 | 2023P141 | 191 | 2023P191 | |||||||
42 | 2023P042 | 92 | 2023P092 | 142 | 2023P142 | 192 | 2023P192 | |||||||
43 | 2023P043 | 93 | 2023P093 | 143 | 2023P143 | 193 | 2023P193 | |||||||
44 | 2023P044 | 94 | 2023P094 | 144 | 2023P144 | 194 | 2023P194 | |||||||
45 | 2023P045 | 95 | 2023P095 | 145 | 2023P145 | 195 | 2023P195 | |||||||
46 | 2023P046 | 96 | 2023P096 | 146 | 2023P146 | 196 | 2023P196 | |||||||
47 | 2023P047 | 97 | 2023P097 | 147 | 2023P147 | 197 | 2023P197 | |||||||
48 | 2023P048 | 98 | 2023P098 | 148 | 2023P148 | 198 | 2023P198 | |||||||
49 | 2023P049 | 99 | 2023P099 | 149 | 2023P149 | 199 | 2023P199 | |||||||
50 | 2023P050 | 100 | 2023P100 | 150 | 2023P150 | 200 | 2023P200 |
Exhibit A
The Selected Student Loans (Cont.)
Selected |
Student Loan |
Selected Student Loan Number |
Student Loan |
Selected Student Loan Number |
Student Loan |
Selected Student Loan Number |
Student Loan Number | |||||||
201 | 2023P201 | 242 | 2023P242 | 283 | 2023P283 | 324 | 2023P324 | |||||||
202 | 2023P202 | 243 | 2023P243 | 284 | 2023P284 | 325 | 2023P325 | |||||||
203 | 2023P203 | 244 | 2023P244 | 285 | 2023P285 | 326 | 2023P326 | |||||||
204 | 2023P204 | 245 | 2023P245 | 286 | 2023P286 | 327 | 2023P327 | |||||||
205 | 2023P205 | 246 | 2023P246 | 287 | 2023P287 | 328 | 2023P328 | |||||||
206 | 2023P206 | 247 | 2023P247 | 288 | 2023P288 | 329 | 2023P329 | |||||||
207 | 2023P207 | 248 | 2023P248 | 289 | 2023P289 | 330 | 2023P330 | |||||||
208 | 2023P208 | 249 | 2023P249 | 290 | 2023P290 | 331 | 2023P331 | |||||||
209 | 2023P209 | 250 | 2023P250 | 291 | 2023P291 | 332 | 2023P332 | |||||||
210 | 2023P210 | 251 | 2023P251 | 292 | 2023P292 | 333 | 2023P333 | |||||||
211 | 2023P211 | 252 | 2023P252 | 293 | 2023P293 | 334 | 2023P334 | |||||||
212 | 2023P212 | 253 | 2023P253 | 294 | 2023P294 | 335 | 2023P335 | |||||||
213 | 2023P213 | 254 | 2023P254 | 295 | 2023P295 | 336 | 2023P336 | |||||||
214 | 2023P214 | 255 | 2023P255 | 296 | 2023P296 | 337 | 2023P337 | |||||||
215 | 2023P215 | 256 | 2023P256 | 297 | 2023P297 | 338 | 2023P338 | |||||||
216 | 2023P216 | 257 | 2023P257 | 298 | 2023P298 | 339 | 2023P339 | |||||||
217 | 2023P217 | 258 | 2023P258 | 299 | 2023P299 | 340 | 2023P340 | |||||||
218 | 2023P218 | 259 | 2023P259 | 300 | 2023P300 | 341 | 2023P341 | |||||||
219 | 2023P219 | 260 | 2023P260 | 301 | 2023P301 | 342 | 2023P342 | |||||||
220 | 2023P220 | 261 | 2023P261 | 302 | 2023P302 | 343 | 2023P343 | |||||||
221 | 2023P221 | 262 | 2023P262 | 303 | 2023P303 | 344 | 2023P344 | |||||||
222 | 2023P222 | 263 | 2023P263 | 304 | 2023P304 | 345 | 2023P345 | |||||||
223 | 2023P223 | 264 | 2023P264 | 305 | 2023P305 | 346 | 2023P346 | |||||||
224 | 2023P224 | 265 | 2023P265 | 306 | 2023P306 | 347 | 2023P347 | |||||||
225 | 2023P225 | 266 | 2023P266 | 307 | 2023P307 | 348 | 2023P348 | |||||||
226 | 2023P226 | 267 | 2023P267 | 308 | 2023P308 | 349 | 2023P349 | |||||||
227 | 2023P227 | 268 | 2023P268 | 309 | 2023P309 | 350 | 2023P350 | |||||||
228 | 2023P228 | 269 | 2023P269 | 310 | 2023P310 | 351 | 2023P351 | |||||||
229 | 2023P229 | 270 | 2023P270 | 311 | 2023P311 | 352 | 2023P352 | |||||||
230 | 2023P230 | 271 | 2023P271 | 312 | 2023P312 | 353 | 2023P353 | |||||||
231 | 2023P231 | 272 | 2023P272 | 313 | 2023P313 | 354 | 2023P354 | |||||||
232 | 2023P232 | 273 | 2023P273 | 314 | 2023P314 | 355 | 2023P355 | |||||||
233 | 2023P233 | 274 | 2023P274 | 315 | 2023P315 | 356 | 2023P356 | |||||||
234 | 2023P234 | 275 | 2023P275 | 316 | 2023P316 | 357 | 2023P357 | |||||||
235 | 2023P235 | 276 | 2023P276 | 317 | 2023P317 | 358 | 2023P358 | |||||||
236 | 2023P236 | 277 | 2023P277 | 318 | 2023P318 | 359 | 2023P359 | |||||||
237 | 2023P237 | 278 | 2023P278 | 319 | 2023P319 | 360 | 2023P360 | |||||||
238 | 2023P238 | 279 | 2023P279 | 320 | 2023P320 | |||||||||
239 | 2023P239 | 280 | 2023P280 | 321 | 2023P321 | |||||||||
240 | 2023P240 | 281 | 2023P281 | 322 | 2023P322 | |||||||||
241 | 2023P241 | 282 | 2023P282 | 323 | 2023P323 |
Note: | The Company has assigned a unique Loan ID number to each Student Loan in the Data File. The Student Loan Numbers referred to in this Exhibit are not the Loan ID numbers. |
Exhibit B
Lookup Code Mapping
Loan Status
Loan Status per Sources |
Loan Status per Data File | |
School, School Monthly, Deferment Schl | School | |
Repayment | Repayment | |
Grace | Grace | |
Forbearance | Forbearance |
Loan Type
Loan Type per Sources |
Loan Type per Data File | |
ACAP2, ACAP1, BRZNM | BRAZOS | |
UFIGRD | U-Fi Graduate | |
UFIRL | U-Fi Refinance | |
UFIUGR | U-Fi Undergraduate | |
USBALT, USBUS6, USBU34, USBFGH, USBUSB, USBUS5, USBUS9, USB5 | US Bank Private Loans |
Exhibit C
Instructions
Attribute |
Instructions | |
Loan Status | Compare to the status field in the Data File to the Status field on the Note Detail 1 Screen based on the Lookup Code Mapping. In the event the Status field on the Note Detail 1 Screen did not agree with the status field in the Data File, compare to the Loan Status as of the Cutoff Date listed on the Servicing History Screen. | |
Remaining Term | Compare to the payremain field in the Data File to (i) the Remaining Term field on the Note Detail 1 Screen, or (ii) the Term field on the Repayment Schedule Screen. | |
Interest Rate | Compare to the interest_rate field in the Data File to the Interest Rate field on the Note Detail 2 Screen. In the event the Interest Rate field on Note Detail 2 Screen did not agree with the interest_rate field in the Data File, compare to the Int Rate field and corresponding Eff Dt field as of the Cutoff Date on the Payment History for Loan Status and Interest Rate Screen. | |
Current Principal Balance | Compare to the pbo field in the Data File to the CPB field on Note Detail 2 Screen. In the event the CPB field on the Note Detail 2 Screen did not agree with the pbo field in the Data File, compare to the End CPB field as of the Cutoff Date listed on the Transaction History Screen. In the event the End CPB field as of the Cutoff Date listed on the Transaction History Screen did not agree with the pbo field in the Data File, compare to the sum of the CPB field and all principal payment amounts on Payment History for Current Principal Balance Screen for which the Prcs Dt is after the Cutoff Date to the pbo field in the Data File. | |
Loan Type | Compare to the loan_type field in the Data File to the Loan Program field on the Note Detail 1 Screen based on the Lookup Code Mapping. | |
Original FICO | Compare to the borrower_Fico field in the Data File to Borrower FICO score in the FICO Lookup Files. | |
Cosigner FICO | Compare to the cosigner_Fico field in the Data File to Cosigner FICO score in the FICO Lookup Files. | |
Maturity Date | Compare to the maturitydate field in the Data File to the Maturity Date field on the Repayment Schedule Screen. In the event the Maturity Date field on the Repayment Schedule Screen did not agree with the maturitydate field in the Data File, compare to the sum of the First Pmt Dt field and Term field on the Repayment Schedule Screen. |
Attribute |
Instructions | |
Repayment Begin Date | If the Loan Status of the Selected Student Loan is in Grace or School, compare to the repay_start_dt field in the Data File to six months after the Grad Date field on the Note Detail 2 Screen. | |
School Code | Compare to the schoolid field in the Data File to the first six digits of the School/Name field on the Note Detail 2 Screen. In the event the first six digits of the School/Name field on the Note Detail 2 Screen did not agree with the schoolid field in the Data File and the loan_type field in the Data File is USBALT, USBUSB, and BRZNM, compare to the School Code System Screenshot.
We found that the School Codes for Selected Student Loans #155 and #166 listed in the Data File did not agree with the School/Name field on the Note Detail 2 Screen. The borrowers changed schools, effective August 21, 2023, but the updated information was not available to the Company until September 11, 2023, and September 18, 2023, respectively. As the updated information was not available until after the Cutoff Date, these variances are not considered exceptions. |
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