From redington at ogslp.org Tue Jul 1 17:33:53 2008 From: redington at ogslp.org (Edington, Rick) Date: Tue, 1 Jul 2008 17:33:53 -0500 Subject: [Lender] Follow-up to ED Liquidity Webinar Message-ID: <297AF473E6053445A2007FAB9E8BCACF56327E@elgar.lan.ogslp.org> As a follow-up to the ED Webinar held today, and especially for those interested lenders who were not able to attend, we wanted to highlight a few noteworthy and important items that were brought up both during recent industry calls with ED and in the Webinar today. * Filing of Notice of Intent to Participate- If your organization anticipates any potential need to exercise either the "put" or both the "put" and the "participating interest" option, it is critical that you file a Notice of Intent to Participate with ED in a timely manner. Be sure to consider the possibility of selling loans to another party who would want to participate. If you have not filed a Notice of Intent, the other party you sell loans to will not be able to participate with the loans you have sold to them. Notices of Intent to Participate received by ED within 15 days after publication in the Federal Register (by July 16, 2008) will allow lenders the right to "put" loans originated on or after 5/1/08. Notices of Intent to Participate filed after the 15 day window of publication in the Federal Register will result in lenders being able to "put" ONLY loans made on or after the date ED receives the Notice of Intent from the lender. Notices of Intent do NOT obligate the lender to actually participate; they only serve to endow the lender with the future right to participate in the option(s). FYI- the original Notice of Intent to Participate form is being corrected and will be posted to ED's site tonight or tomorrow. Below is a link to the site. http://federalstudentaid.ed.gov/ffelp/ Note- More documents, the presentation from today's Webinar and Q & A listings will be posted to this site by ED. * "Custodian" requirement- A third-party custodian will be required for lenders. The Custodian must be a National or State-chartered bank that is an eligible lender pursuant to 435 (d) (1) (A) of the HEA. * Allowable back-end borrower benefits- As a reminder, the only allowable back-end borrower benefit on loans to be sold to ED is the reduction of one-quarter of one percent in the loan's interest rate if the borrower elects to have his or her monthly payments paid automatically through an electronic debit process. Up-front borrower benefits such as origination and default fee payments continue to be allowed since they would have been paid prior to the sale of the loan. * Program Questions & Answers- ED is expected to post Q & A's received from the industry prior to and during the Webinar on their site. As a benefit of Mary Mowdy's participation in industry conference calls in her role as NCHELP Board Chair, we are providing a listing of trade association Q & A's submitted to ED prior to the Webinar and a copy of a letter from trade associations concerning servicing and guarantee of loans purchased by ED. These documents are encrypted and will be stored on our site at the following link: http://www.ogslp.org/schools-lenders/olac_docs/olac_index.shtml. The password for both files is: ffe!plenders0K (note- use a zero, not the letter "0") ED has indicated that there will be future Webinars and information posted to their site. We encourage you to bookmark their site and to check back for additional information. OGSLP will keep you updated, including any notices of future related ED Webinar offerings. Rick Rick Edington Director for School/Lender Services, Default Prevention & Outreach Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education P.O. Box 3000 Oklahoma City, OK 73101-3000 405-234-4333 fax: 405-234-4551 This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this message and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this communication in error, please promptly notify the sender and immediately delete the communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20080701/a408f5e4/attachment.html From gslcommunications at ogslp.org Mon Jul 7 08:30:54 2008 From: gslcommunications at ogslp.org (GSL Communications) Date: Mon, 7 Jul 2008 08:30:54 -0500 Subject: [Lender] Special Allowance Rates Message-ID: <297AF473E6053445A2007FAB9E8BCACF693358@elgar.lan.ogslp.org> The Department of Education (ED) has released the special allowance rates for the quarter ending June 30, 2008. The average of the bond equivalent rates of the 91-day Treasury bills auctioned during the quarter ending June 30, 2008 is 1.71 percent. The average of the bond equivalent rates of the quotes of the 3-month commercial paper (financial) rates in effect for each of the days in the quarter ending June 30, 2008 is 2.75 percent. Click here to view ED's announcement regarding the new rates. If you have questions, please contact OGSLP's Policy, Compliance, and Training department at 405.234.4432, 800.247.0420 (toll free), or pct at ogslp.org . We're here to help! ________________________________ Angela O. Caddell Director for Communications, Financial Education, and Outreach OGSLP Communications 405.234.4440 800.522.8506 (TDD/TRS) 800.247.0420 (toll-free) gslcommunications at ogslp.org www.ogslp.org Note: This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this information and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this message in error, please promptly notify the sender and immediately delete this communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20080707/78cff10b/attachment.html From redington at ogslp.org Fri Jul 11 11:32:21 2008 From: redington at ogslp.org (Edington, Rick) Date: Fri, 11 Jul 2008 11:32:21 -0500 Subject: [Lender] ED Releases Master Participation and Loan Sales Agreements Message-ID: <297AF473E6053445A2007FAB9E8BCACF5632E9@elgar.lan.ogslp.org> ED has released copies of the Master Participation Agreement and the Master Loan Sales Agreement that must be executed by a lender/holder who wishes to participate in one or both of the Loan Purchase Programs. These documents are available via ED's Ensuring Continued Access to Student Loans Act (ECASLA) Website . Additional Notes: * Revised Notice of Intent - A revised Notice of Intent to Participate has also been posted (Exhibit F- page 111). ED will continue to accept the prior version and institutions that have already filed the prior notice do not need to re-submit. * Notice of Intent Filing Deadline extended- ED has extended the deadline to file notices of intent to participate to 7/31/08 for those lenders wishing to preserve the right to "put" loans originated on or after 5/1/08. Notices filed after 7/31/08 will result in preserving the right to only "put" loans made on or after the date ED receives the Notice of Intent from the lender. * Document submission- Additional information, including submission directions is expected to be shared "soon". If your organization anticipates needing to use either the "put" or both the "put" and the "participating interest" option, or anticipates the possibility of selling loans to an organization that may need to "put" the loans, it is critical to file this notice in a timely manner. Notices of Intent do NOT obligate the lender to participate; they only serve to endow the lender with the future right to participate in the option(s). OGSLP will continue to keep you updated regarding information about these important programs. Rick Rick Edington Director for School/Lender Services, Default Prevention & Outreach Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education P.O. Box 3000 Oklahoma City, OK 73101-3000 405-234-4333 fax: 405-234-4551 This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this message and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this communication in error, please promptly notify the sender and immediately delete the communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20080711/a886ae4d/attachment.html From gslcommunications at ogslp.org Mon Jul 14 11:10:22 2008 From: gslcommunications at ogslp.org (GSL Communications) Date: Mon, 14 Jul 2008 11:10:22 -0500 Subject: [Lender] OGSLP Job Opportunities Message-ID: <297AF473E6053445A2007FAB9E8BCACF693453@elgar.lan.ogslp.org> Good morning! The Oklahoma Guaranteed Student Loan Program, a division of the Oklahoma State Regents for Higher Education, seeks to hire a Staff Assistant for Communications, Financial Education and Outreach and a Communications Specialist. Specific duties and position qualifications are outlined in the attached job descriptions. Please feel free to share the job descriptions with anyone whom you feel would be interested and qualified. Interested candidates may submit a cover letter and resume as follows: * Mail: OSRHE, ATTN: Human Resources, PO Box 108850, Oklahoma City, OK 73101-8850 * Fax: 405.225.9230 * E-mail: hr at osrhe.edu Questions about the positions may be directed to Tiffany Tomlinson, Human Resources Specialist, at 405-234-9415 or ttomlinson at osrhe.edu. The Oklahoma State Regents for Higher Education is an Equal Opportunity Employer. Best wishes, Angela Angela O. Caddell Director for Communications, Financial Education and Outreach Oklahoma Guaranteed Student Loan Program a division of the Oklahoma State Regents for Higher Education P.O. Box 3000 Oklahoma City, OK 73101-3000 405-234-4495 (direct) 800-522-8506 (TDD/TRS) 800-970-OKMM (toll-free) 405-234-4554 (fax) acaddell at ogslp.org www.ogslp.org www.oklahomamoneymatters.org Note: This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this information and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this message in error, please promptly notify the sender and immediately delete this communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20080714/b685a3a9/attachment-0001.html -------------- next part -------------- A non-text attachment was scrubbed... Name: OGSLP Staff Assistant I.pdf Type: application/octet-stream Size: 81276 bytes Desc: OGSLP Staff Assistant I.pdf Url : http://lists.onenet.net/pipermail/lender/attachments/20080714/b685a3a9/attachment-0002.obj -------------- next part -------------- A non-text attachment was scrubbed... Name: OGSLP Communications Specialist I.pdf Type: application/octet-stream Size: 78362 bytes Desc: OGSLP Communications Specialist I.pdf Url : http://lists.onenet.net/pipermail/lender/attachments/20080714/b685a3a9/attachment-0003.obj From redington at ogslp.org Fri Jul 18 18:01:13 2008 From: redington at ogslp.org (Edington, Rick) Date: Fri, 18 Jul 2008 18:01:13 -0500 Subject: [Lender] Department of Education (ED) to host two new liquidity Webinars Message-ID: <297AF473E6053445A2007FAB9E8BCACF56336F@elgar.lan.ogslp.org> The Department of Education (ED) has announced two new Webinar offerings regarding their liquidity programs. The first Webinar will include provisions of the Master Participation Agreement covering terms and conditions of the Loan Participation Purchase Program. The second Webinar will focus on the Master Loan Sale Agreement associated with the Loan Purchase Commitment Program. Information and registration are available on ED's ECASLA site. Additionally, ED has published a Federal Register notice regarding the deadline extension for filing a Notice of Intent to Participate in the Loan Participation Purchase Program and/or the Loan Purchase Commitment Program. The original deadline of 7/16/08 has been extended to 7/31/08. Lenders who file an intent with ED by the deadline preserve the right to sell loans made on or after 5/1/08. Filing a Notice of Intent beyond the deadline will limit loans that can be sold to those made on or after the date ED receives the Notice of Intent from the lender. The Register notice also includes the revised Notice of Intent to Participate form. As a reminder, lenders that filed the originally published Notice of Intent form do NOT need to re-file. OGSLP will continue to keep you updated regarding these important programs. Rick Rick Edington Director for School/Lender Services, Default Prevention & Outreach Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education P.O. Box 3000 Oklahoma City, OK 73101-3000 405-234-4333 fax: 405-234-4551 This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this message and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this communication in error, please promptly notify the sender and immediately delete the communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... URL: http://lists.onenet.net/pipermail/lender/attachments/20080718/758d095c/attachment.html From redington at ogslp.org Tue Jul 29 08:43:05 2008 From: redington at ogslp.org (Edington, Rick) Date: Tue, 29 Jul 2008 08:43:05 -0500 Subject: [Lender] ED Releases Revised Loan Purchase Agreements and Offers New Webinar Opportunity Message-ID: <297AF473E6053445A2007FAB9E8BCACF563388@elgar.lan.ogslp.org> Revised Loan Purchase Agreements Revised copies of the Master Participation Agreement (MPA) and Master Loan Sales Agreement (MLSA) have been released by the Department of Education (ED). The agreements must be executed by lenders who wish to participate in one or both of the Loan Purchase Programs. These versions replace agreements posted by ED on July 10, 2008. Document revisions include corrections of typographical errors or corrections of incorrect references as well as more substantive changes relating to the role of the custodian and the rights of those providing interim financing to student lenders. Lenders are encouraged to review the documents in full. ED Webinar Opportunity: Operational Details of the Loan Participation Purchase Program ED has also announced an additional Webinar opportunity which will focus on operational details of the Loan Participation Purchase Program. The Webinar is scheduled for Friday, August 1 from 1:00 PM - 3:00 PM Central. If you previously registered for either the July 22 or July 24 Webinars, you will be automatically registered for this session and will be sent a confirmation e-mail by ED approximately 24 hours in advance. Lenders who need to register may click here . OGSLP will continue to keep you updated on these important programs. Rick Rick Edington Director for School/Lender Services, Default Prevention & Outreach Oklahoma Guaranteed Student Loan Program A division of the Oklahoma State Regents for Higher Education P.O. Box 3000 Oklahoma City, OK 73101-3000 405-234-4333 fax: 405-234-4551 This communication and attachments, if any, are intended solely for the use of the addressee hereof. In addition, this message and attachments, if any, may contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the intended recipient of this information, you are prohibited from reading, disclosing, reproducing, distributing, disseminating, or otherwise using this information. If you have received this communication in error, please promptly notify the sender and immediately delete the communication from your system. -------------- next part -------------- An HTML attachment was scrubbed... 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