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Private student lending solutions provider buys assets of loan servicer

ReliaMax has acquired the assets of FUTR Corp., a San Francisco- and Texas-based private student loan servicing provider.

The transaction adds more than 40 lenders and $55 million in borrower servicing to The ReliaMax Solution, a private student loan solution that includes borrower acquisition, origination, servicing, insurance and capital markets/portfolio liquidity support.

ReliaMax is a private student lending solutions provider for banks, credit unions, schools and alternative lenders.

The transaction closed Sept. 15, after which ReliaMax took ownership of FUTR's core assets, including borrower servicing contracts, intellectual property, customer relationships, data and analytics, brand capital and key team members.

Terms of the acquisition were not disclosed.