Sallie Mae 2009 Annual Report Download - page 80

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FFELP Private Total
Year Ended
December 31, 2008
Internal lending brands and Lender Partners ................... $19,894 $6,437 $26,331
Other commitment clients ................................ 701 — 701
Spot purchases ........................................ 206 — 206
Consolidations from third parties ........................... 462 149 611
Consolidations and clean-up calls of off-balance sheet securitized
loans .............................................. 986 280 1,266
Capitalized interest, premiums and discounts .................. 2,446 921 3,367
Total on-balance sheet student loan acquisitions ................ 24,695 7,787 32,482
Consolidations and clean-up calls of off-balance sheet securitized
loans .............................................. (986) (280) (1,266)
Capitalized interest, premiums and discounts — off-balance sheet
securitized loans ..................................... 457 741 1,198
Total Managed student loan acquisitions...................... $24,166 $8,248 $32,414
FFELP Private Total
Year Ended
December 31, 2007
Internal lending brands and Lender Partners ................... $17,577 $7,888 $25,465
Wholesale Consolidation Loans
(1)
.......................... 7,048 — 7,048
Other commitment clients ................................ 248 57 305
Spot purchases ........................................ 1,120 — 1,120
Consolidations from third parties ........................... 2,206 235 2,441
Consolidations and clean-up calls of off-balance sheet securitized
loans .............................................. 3,744 582 4,326
Capitalized interest, premiums and discounts .................. 2,279 444 2,723
Total on-balance sheet student loan acquisitions ................ 34,222 9,206 43,428
Consolidations and clean-up calls of off-balance sheet securitized
loans .............................................. (3,744) (582) (4,326)
Capitalized interest, premiums and discounts — off-balance sheet
securitized loans ..................................... 539 703 1,242
Total Managed student loan acquisitions...................... $31,017 $9,327 $40,344
(1)
Includes FFELP Consolidation Loans purchased by the Company primarily via the spot market, which augmented the Company’s in-
house FFELP Consolidation Loan origination process. Wholesale Consolidation Loans were considered incremental volume to the
Company’s core acquisition channels. In 2008, the Company ceased acquiring Wholesale Consolidation Loans.
As shown in the above tables, off-balance sheet FFELP Stafford Loans that consolidate with us become
an on-balance sheet interest–earning asset. This activity results in impairments of our Retained Interests in
securitizations, but this is offset by an increase in on-balance sheet interest–earning assets, for which we do
not record an offsetting gain.
79