CFPB Debt Collection Complaint Ranking*:
#13 of 2,458 Companies
Lawsuits, Penalties, or Sanctions:
Navient has been under several government investigations about the company’s debt-collecting and loan-servicing practices.
Class Action filed by investors claiming Navient made materially false and misleading statements regarding the Company’s business, operational and compliance policies.
Location and Contact Details:
Navient
123 S. Justison St., Suite 300
Wilmington, DE 19801-5134
Phone: (302) 283-8000
Fax: (800) 848-1949
John F. Remondi, CEO, and President
Stephen Tinney, Vice President
Brian Hynes, Ethics Contact
Business Model:
Navient is the nation’s largest servicer of student loans. Loans include those insured or guaranteed under the Federal Family Education Loan Program (FFELs), as well as Private Education Loans. It is a 2014 spin-off of SallieMae, where Sallie Mae retains new consumer banking servicing while Navient services existing banking loans and new (originating) student loans. President of Sallie Mae John F. Remondi (a.k.a. Jack) took over as head of Navient from its beginning. In late 2015 Remondi bought 80,000 shares of Navient stock, worth approximately $700,000.
* Ranking determined by the overall number of debt collection complaints to the Consumer Financial Protection Bureau (CFPB) as of year-end 2015 and should be considered in context of company size and/or market share. See the CFPB debt collection complaint database in real-time here.
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