NAVI - Navient: Exchange Traded Senior Notes Lose Their Luster
Navient (NAVI) is primarily a student loan lender and servicing company which was spun off from SLM (SLM) (colloquially known as Sallie Mae) several years ago. The spinoff was largely associated with separating the stronger and faster-growing consumer banking and private student loan origination business from the less profitable federally insured student loan administration business. Navient’s business has since evolved somewhat into other fields, including consumer lending and other administrative services, but the company largely remains a student loan servicer.
Navient’s operating results have been uneven over the last several years