Navient to Acquire Earnest
Earnest overview
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Founded in 2013, Earnest is a leading, data-driven and digitally focused consumer finance business
Technology-first platform uses software and algorithms in origination to enable competitive
underwriting and pricing
• Expected to originate nearly $1 billion in education refinancing loans in 2017
Projected student loan receivables of ~$0.5 billion at closing
Earnest clients consist of high quality, financially responsible professionals
77% of borrowers hold advanced degrees
Average income over $139,000 with a FICO of 776
- The average customer is 32 years old and more than 6 years removed from graduation
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earnest
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