NEW YORK, Aug. 3 /PRNewswire-FirstCall/ -- MRU Holdings Inc. (Nasdaq:UNCL), a specialty finance company that provides federal and privatestudent loans through its consumer brand MyRichUncle(TM), today announcedthat Jonathan Coblentz has joined the Company as Treasurer and Head ofCapital Markets, reporting to Vishal Garg, Co-Founder and Chief FinancialOfficer. "One of our key priorities is to attract first-class talent to help usexecute our growth strategy going forward," said Vishal Garg, Co-Founderand CFO. "We are extremely pleased to have Jonathan on our team as hebrings extensive experience in capital markets in the consumer financearena. In his short time with us he has already proven himself to beinvaluable through his contribution to the successful completion of ourrecent $200 million securitization, which was executed at terrific levelsfor a first time issuer such as MRU." Jonathan has 14-years of experience in structured finance and haspreviously worked at leading hedge funds and investment banks. He has abroad background in the consumer finance industry, having financed andinvested in student loans, credit cards, auto loans, and home equities. Hisexperience in the student loan industry dates back to 1993 when he workedon the team at First Boston that developed the first student loansecuritizations. In 1992, Jonathan began his structured finance career in the AssetBacked Finance Group of The First Boston Corporation (now Credit Suisse).During the nearly five years he spent there, he structured and executedsecuritizations for clients across a broad range of consumer asset classes.As part of this work, he helped various student lenders develop theirstudent loan securitization programs. After leaving First Boston in 1997,Jonathan joined Goldman, Sachs & Co., where he worked initially as an assetbacked banker and later joined the firm's Principal Finance group. Prior toleaving Goldman in 2004, Jonathan lead the student loan finance team, whichsuccessfully re-established the firm's presence in the student loan ABSmarket. In the last two-years prior to joining MRU, Jonathan worked instructured finance at Fortress Investment Group, sourcing and analyzinginvestment opportunities in consumer and commercial finance and theinsurance industry. Jonathan graduated summa cum laude from Yale University in 1992,receiving a B.S. in Applied Mathematics with a concentration in Economics. In addition, MRU confirmed that its liquidity position remains strongas the Company heads into the busiest period of the year for student loanoriginations. The Company has committed long-term and recently renewedcredit facilities from its lenders with total spare capacity exceeding $200million in addition to over $30 million in pre-funding accounts from itslast securitization. "Our relationships with our lending partners are long term and willhelp us to serve the needs of what we believe will be a larger number ofcustomers who will be looking for student loans this season as other formsof financing that have traditionally been utilized to pay for college suchas home equity or mortgages become increasingly unattractive or expensivefor families. As traditional student loan companies, which are focused onmarketing federal student loans evaluate exiting the business, MRU standsready to service students and their families with a one-stop shop financingsolution for college and graduate school financing" said Vishal Garg. About MRU Holdings, Inc. MRU Holdings, Inc. (Nasdaq:
-
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
8m ago -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
28m ago -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
35m ago -
Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
1h ago -
The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
3h ago -
SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.
4h ago