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The First Marblehead Corporation provides outsourcing services for private education lending in the United States. We help meet the growing demand for private education financing by offering national and regional financi...
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Annual Reports
Stockholders may request a hard copy of the most recent annual report, free of charge, by submitting a request through the Information Request section of this website.
The documents and statements contained in, or directly accessible from, this website regarding First Marblehead’s strategy, product offerings, future financial and operating transactions and results, projected costs, future market position, liquidity, prospects, plans and outlook, as well as any other statements that are not purely historical, constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon our historical performance, the historical performance of the securitization trusts that we have facilitated (the “Trusts”) and our plans, intentions, estimates and expectations as of the date such statement was first made. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We cannot guaranty that we will actually achieve the plans, intentions, estimates or expectations expressed or implied in our forward-looking statements. Matters subject to forward-looking statements involve a number of known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause our actual financial or operational results, including the performance of the Trusts and resulting cash flows, levels of activity, or the timing of events to differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include: market acceptance of, and demand for, our Monogram loan product and fee-based service offerings; the volume, timing and performance of facilitated loans; the size and structure of any credit enhancement provided by First Marblehead in connection with our Monogram loan product; capital markets conditions and our ability to structure securitizations or alternative financings; the size, structure and timing of any such securitizations or alternative financings; any investigation, audit, claim, action or suit relating to the transfer of the trust certificate of NC Residuals Owners Trust or the asset services agreement between the purchaser and First Marblehead, including the audit conducted by the Internal Revenue Service relating to tax refunds previously received; the estimates and assumptions we make in preparing our financial statements, including quantitative and qualitative factors used to estimate the fair value of additional structural advisory fees, asset servicing fees, residual receivables and loans held for sale; our compliance with banking regulations and directives, including regulatory capital requirements and the other factors set forth under the caption “Risk Factors” in our most recent annual report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Important factors that could cause or contribute to future adjustments to the estimates and assumptions we make in preparing our financial statements include: actual transactions or market observations relating to asset-backed securities, loan portfolios or corporate debt securities; variance between our performance assumptions and the actual performance of the Trusts or loans held for sale; economic, legislative, regulatory, competitive and other factors affecting discount, default, recovery and prepayment rates on loan portfolios held for sale by us or held by the Trusts, including general economic conditions, the consumer credit environment and unemployment rates; management’s determination of which qualitative and quantitative factors should be weighed in our estimates, and the weight to be given to such factors; capital market receptivity to securities backed by private student loans; developments in the bankruptcy proceedings of The Education Resources Institute, Inc., including the terms of any plan of reorganization and the outcome of the challenges to the enforceability of security interests of the Trusts, which could adversely affect the Trusts’ rights to future recoveries on certain defaulted loans; and interest rate trends. We specifically disclaim any obligation to update any forward-looking statements as a result of developments occurring after the date such statement was first made, even if our estimates or assumptions change, and you should not rely on those statements as representing our views as of any date subsequent to the date such statement was first made.
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