Tag Archives: fmd

First Marblehead Sells Portfolio Of TMS Contracts, Says TMS Is Cash Flow Positive Ahead of Projections

By | June 30, 2011
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First Marblehead(FMD), which purchased Tuition Management Systems at the beginning of the year for $47.25 million, has sold a portfolio of 377 contracts to FACTS, a subsidiary of Nelnet(NNI).  First Marblehead said it decided to sell the contracts relating to lower cost schools, many faith-based, which accounted for 33% of contracts, but only 18% of revenue, to focus… Read More »

First Marblehead Moves Into Tuition Services

By | November 23, 2010
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First Marblehead(FMD), which we wrote about several years ago when securitizations were still possible and the stock price was far higher, has muddled its way through the financial crisis.  Cash-rich, but still without any significant traction in its core business, the company announced it will be buying the tuition management systems business of KeyBank, for $47,250,000 in cash.… Read More »