--The First Marblehead Corporation (NYSE: FMD) todayannounced it has entered into a three-year agreement with GE ConsumerFinance, a top provider of innovative financial solutions, to market afull suite of Direct-to-Consumer (DTC) private student loan servicesunder its consumer brand, GE Money. GE Consumer Finance will offerfinancing programs to a variety of education levels, including K-12,undergraduate, graduate, and continuing education.
"Our partnership with GE Consumer Finance validates the benefitsof our DTC marketing strategy and expands on the momentum we arecreating in this area," said Jack L. Kopnisky, president and chiefexecutive officer of First Marblehead. "GE Consumer Finance's programprovides creative and essential education finance opportunities,tapping into various markets that have specialized needs we canfulfill."
"As a leading provider of credit services to consumers around theworld, we are constantly looking for ways to enhance our productofferings," said Scott Young, senior vice president of GE ConsumerFinance's Personal Finance unit.
This summer marks the 10th anniversary of the buy-to-let mortgage, the loan that has made landlords of investment bankers, teachers and plumbers alike.
The buy-to-let market is now worth more than £73bn and is growing fast. Private rented property has grown into one of the most popular ways to generate income and build a nest-egg for the future.
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