SLM Private Education Loan Trust 2009-CT (Group I) Monthly Servicing Report

Transcription

1 SLM Private Education Loan Trust 2009CT (Group I) Monthly Servicing Report Distribution Date 02/16/2010 Collection Period 01/01/ /31/2010 SLM Funding LLC Depositor Sallie Mae Inc. Servicer and Administrator Deutsche Bank Indenture Trustee Southwest Student Services Excess Distribution Certificateholder 1

2 I. 2009CT (Group I) Deal Parameters A Student Loan Portfolio Characteristics 12/31/2009 Activity 01/31/2010 i Portfolio Balance 644,516, (7,141,137.30) 637,375, ii Interest to be Capitalized 307, , iii Total Pool 644,823, ,714, iv Reserve Account 1,648, ,648, v Asset Balance 646,471, ,362, i Weighted Average Coupon (WAC) 6.204% 6.209% ii Weighted Average Remaining Term iii Number of Loans 76,812 76,388 iv Number of Borrowers 73,527 73,128 v Prime Loans Monthly Reset, Adjustable Period * vi Prime Loans Monthly Reset, Nonadjustable * 644,792, ,683, vii Prime Loans Quarterly Reset * viii Prime Loans Annual Reset * ix Tbill Loans * x Fixed Loans * 31, , xi Libor Indexed Loans xii Pool Factor % of % of B Notes Cusips Spread Balance 01/15/2010 O/S Securities ** Balance 02/16/2010 O/S Securities ** i IA Notes 78445LAA % 372,068, % 362,841, % ii Total Notes 372,068, % 362,841, % C 01/15/ /16/2010 i Specified Reserve Account Balance () 1,648, ,648, ii Reserve Account Balance () 1,648, ,648, iii Initial Asset Balance 660,884, ,884, iv Specified Overcollateralization Amount 323,235, ,681, v Actual Overcollateralization Amount 274,402, ,521, vi Parity Ratio ** Percentages may not total 100% due to rounding 2

3 II. 2009CT (Group I) Transactions from: 01/01/2010 through: 01/31/2010 A Student Loan Principal Activity i Principal Payments Received 6,513, ii Purchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Other Principal Reimbursements 391, v Total Principal Collections 6,905, B Student Loan NonCash Principal Activity i Realized Losses 462, ii Capitalized Interest (230,636.85) iii Capitalized Insurance Fee 2, iv Other Adjustments 1, v Total NonCash Principal Activity 236, C Total Student Loan Principal Activity 7,141, D Student Loan Interest Activity i Interest Payments Received 3,221, ii Purchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Other Interest Reimbursements 2, v Late Fees 243, vi Collection Fees/Return Items vii Total Interest Collections 3,467, E Student Loan NonCash Interest Activity i Realized Losses 5, ii Capitalized Interest 230, iii Other Interest Adjustments (223.09) iv Total NonCash Interest Adjustments 236, F Total Student Loan Interest Activity 3,703,

4 III. 2009CT (Group I) Collection Account Activity 01/01/2010 through 01/31/2010 A B Principal Collections i Principal Payments Received 6,474, ii Consolidation Principal Payments 39, iii Purchases by Servicer (Delinquencies >180) iv Reimbursements by Seller v Reimbursements by Servicer vi Other Repurchased Principal 391, vii Total Principal Collections 6,905, Interest Collections i Interest Payments Received 3,220, ii Consolidation Interest Payments iii Purchases by Servicer (Delinquencies >180) iv Reimbursements by Seller v Reimbursements by Servicer vi Other Repurchased Interest 2, vii Collection Fees/Return Items viii Late Fees 243, ix Total Interest Collections 3,467, C Recoveries on Realized Losses D Funds Borrowed from Next Collection Period E Funds Repaid from Prior Collection Periods F Investment Income G Borrower Incentive Reimbursements H Other Deposits 11, I Intial Deposits to the Collection Account TOTAL FUNDS RECEIVED 10,385, AVAILABLE FUNDS PRIOR TO RELEASE FROM CROSS COLLATERALIZATION 10,385, J Amount Released from Group II Cross Collateralization K AVAILABLE FUNDS 10,385, L Servicing Fees Due for Current Period 375, M Carryover Servicing Fees Due N Administration Fees Due 5,00 O Total Fees Due for Period 380,

5 IV. 2009CT (Group I) Loss and Recovery Detail 12/31/ /31/2010 A i Cumulative Realized Losses (Net of Recoveries) 6, , B i Recoveries on Realized Losses This Collection Period ii Principal Cash Recovered During Collection Period iii Interest Cash Recovered During Collection Period iv Late Fees and Collection Costs Recovered During Collection Period v Total Recoveries for Period C i Gross Defaults: ii Cumulative Gross Principal Realized Losses plus Principal Purchases by Servicer 6, , iii Cumulative Gross Interest Realized Losses plus Interest Purchases by Servicer , iv Total Gross Defaults: 7, ,

6 V. 2009CT (Group I) Portfolio Characteristics Weighted Avg Coupon # of Loans %* Principal Amount %* STATUS 12/31/ /31/ /31/ /31/ /31/ /31/ /31/ /31/ /31/ /31/2010 INTERIM: In School 0% 0% 0 0 0% 0% 0% 0% Grace 0% 0% 0 0 0% 0% 0% 0% Deferment 0% 0% 0 0 0% 0% 0% 0% TOTAL INTERIM 0% 0% 0 0 0% 0% 0% 0% REPAYMENT Active Current 6.165% 6.160% 73,154 72, % % 607,931, ,385, % % 3160 Days Delinquent 6.983% 6.996% 1,739 1, % 2.283% 14,883, ,656, % 2.300% 6190 Days Delinquent 7.085% 6.972% % 1.236% 8,794, ,543, % 1.340% Days Delinquent 6.822% 7.135% % 0.860% 57, ,766, % 0.905% Days Delinquent 9.250% 6.788% 1 8 1% 0.010% 4, , % 0.011% Days Delinquent 5.250% 7.203% 1 2 1% 3% 4, , % 1% > 180 Days Delinquent 5.250% 5.250% 1 1 1% 1% 8, , % 1% Forbearance 6.555% 6.576% % 1.299% 12,833, ,936, % 2.187% TOTAL REPAYMENT 6.204% 6.208% 76,812 76, % 100% 644,516, ,375, % 100% GRAND TOTAL 6.204% 6.209% 76,812 76, % 100% 644,516, ,375, % 100% 6

7 VI. 2009CT (Group I) Portfolio Characteristics by Loan Program LOAN PROGRAM WAC # Loans Amount % Career Training Loans 6.209% 76, ,375, % Total 6.209% 76, ,375, % 7

8 VII. 2009CT (Group I) Accrued Interest Factors Accrued Record Date Interest Factor Accrual Period (Days Prior to Distribution Date) Rate * Index A Class IA Interest Rate /15/ /16/ NY Business Day % Prime * Pay rates for Current Distribution. For the interest rates applicable to the next distribution date, please see 8

9 VIII. 2009CT (Group I) Inputs From Initial Period 12/31/2009 A Total Student Loan Pool Outstanding i Portfolio Balance 644,516, ii Interest To Be Capitalized 307, iii Total Pool 644,823, iv Reserve Account 1,648, iv Asset Balance 646,471, B Total Note Factor C Total Note Balance 372,068, D Note Balance 01/15/2010 Class A i Current Factor ii Expected Note Balance 372,068, iii Interest Shortfall iv Interest Carryover E Unpaid Primary Servicing Fees from Prior Month(s) F Unpaid Administration fees from Prior Month(s) G Unpaid Carryover Servicing Fees from Prior Month(s) 9

10 IX. 2009CT (Group I) Cross Collateralization Funds Available from Group I Cross Collateralization Less: Releases this period* Total after Group I Cross Collateralization Release * Funds available from the Group II Cross Collateralization will be used to the extent that the amount of available funds on the distribution date is insufficient to pay items B through J in section XI. Waterfall for Distributions 10

11 X. 2009CT (Group I) Principal Distribution Calculations Principal Distribution i Aggregate Notes Outstanding 01/15/ ,068, ii Asset Balance 01/31/ ,362, iii Specified Overcollateralization Amount 02/16/ ,681, iv Specified Overcollateralization Percentage 5% v Principal Distribution Amount 52,387,

12 XI. 2009CT (Group I) Waterfall for Distributions Remaining Funds Balance A Total Available Funds ( Sections IIIK ) 10,385, ,385, B Primary Servicing FeesCurrent Month plus any Unpaid 375, ,009, C Monthly Administration Fee plus any Unpaid 5,00 10,004, D Class IA Noteholders' Interest Distribution Amount 777, ,227, E Class IA Principal Distribution Amount Paid 9,227, F Increase to the Specified Reserve Account Balance G Indenture Trustee, the Trustee and the Delaware Trustee Fees I Carryover Servicing Fees J Additional Principal Distribution Amount K Cross Collateralization Deposits to Group II Collection Account L Remaining Funds to the Certificateholders 12

13 XII. 2009CT (Group I) Distributions A Distribution Amounts Class A i Monthly Interest Due 777, ii Monthly Interest Paid 777, iii Interest Shortfall iv Interest Carryover Due v Interest Carryover Paid vi Interest Carryover vii Monthly Principal Distribution Amount 52,387, viii Monthly Principal Paid 9,227, ix Shortfall 43,160, x Total Distribution Amount 10,004, B Note Balances 01/15/2010 Paydown Factors 02/16/2010 i Class IA Note Balance 78445LAA0 372,068, ,841, Class IA Note Pool Factor

14 XII. 2009CT (Group I) Historical Pool Information 01/01/ /31/ /10/ /31/2009 Beginning Student Loan Portfolio Balance 644,516, ,106, Student Loan Principal Activity i Principal Payments Received 6,513, ,503, ii Purchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Seller Reimbursements 391, , v Total Principal Collections 6,905, ,803, Student Loan NonCash Principal Activity i Realized Losses/Loans Charged Off 462, , ii Capitalized Interest (230,636.85) (224,489.85) iii Capitalized Insurance Fee 2, , iv Other Adjustments 1, , v Total NonCash Principal Activity 236, (213,888.17) () Total Student Loan Principal Activity 7,141, ,589, Student Loan Interest Activity i Interest Payments Received 3,221, ,157, ii Repurchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Seller Reimbursements 2, , v Late Fees 243, , vi Collection Fees viii Total Interest Collections 3,467, ,306, Student Loan NonCash Interest Activity i Realized Losses/Loans Charged Off 5, ii Capitalized Interest 230, , iii Other Interest Adjustments (223.09) 1, iv Total NonCash Interest Adjustments 236, , v Total Student Loan Interest Activity 3,703, ,532, (=) Ending Student Loan Portfolio Balance 637,375, ,516, (+) Interest to be Capitalized 339, , (=) TOTAL POOL 637,714, ,823, (+) Reserve Account Balance 1,648, ,648, (=) Asset Balance 639,362, ,471,

15 XIV. 2009CT (Group I) Payment History and CPRs Distribution Actual Since Issued Date Pool Balances CPR * Jan10 644,823, % Feb10 637,714, % * Constant Prepayment Rate. Since Issued CPR is based on the current period's ending pool balance calculated against the period's projected pool balance as determined at the trust's statistical cutoff date. 15

16 SLM Private Education Loan Trust 2009CT (Group II) Monthly Servicing Report Distribution Date 02/16/2010 Collection Period 01/01/ /31/2010 SLM Funding LLC Depositor Sallie Mae Inc. Servicer and Administrator Deutsche Bank Indenture Trustee Southwest Student Services Excess Distribution Certificateholder 1

17 I. 2009CT (Group II) Deal Parameters A Student Loan Portfolio Characteristics 12/31/2009 Activity 01/31/2010 i Portfolio Balance 272,403, (3,905,757.63) 268,497, ii Interest to be Capitalized 137, , iii Total Pool 272,541, ,710, v Reserve Account 695, , vi Asset Balance 273,236, ,405, i Weighted Average Coupon (WAC) % % ii Weighted Average Remaining Term iii Number of Loans 28,617 28,310 iv Number of Borrowers 27,844 27,556 v Prime Loans Monthly Reset, Adjustable Period * vi Prime Loans Monthly Reset, Nonadjustable * 27,357, ,026, vii Prime Loans Quarterly Reset * viii Prime Loans Annual Reset * ix Tbill Loans * x Fixed Loans * 49, , xi Libor Indexed Loans 245,133, ,389, xii Pool Factor % of % of B Notes Cusips Spread Balance 01/15/2010 O/S Securities ** Balance 02/16/2010 O/S Securities ** i IIA Notes 78445LAB % 189,326, % 183,384, % ii Total Notes 189,326, % 183,384, % C 01/15/ /16/2010 i Specified Reserve Account Balance () 695, , ii Reserve Account Balance () 695, , iii Initial Asset Balance 278,897, ,897, iv Specified Overcollateralization Amount 136,618, ,702, v Actual Overcollateralization Amount 83,909, ,021, vi Parity Ratio ** Percentages may not total 100% due to rounding 2

18 II. 2009CT (Group II) Transactions from: 01/01/2010 through: 01/31/2010 A Student Loan Principal Activity i Principal Payments Received 3,026, ii Purchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Other Principal Reimbursements 1,553, v Total Principal Collections 4,580, B Student Loan NonCash Principal Activity i Realized Losses 99, ii Capitalized Interest (775,423.94) iii Capitalized Insurance Fee 2, iv Other Adjustments (407.81) v Total NonCash Principal Activity (674,402.81) C Total Student Loan Principal Activity 3,905, D Student Loan Interest Activity i Interest Payments Received 1,710, ii Purchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Other Interest Reimbursements 60, v Late Fees 95, vi Collection Fees/Return Items vii Total Interest Collections 1,866, E Student Loan NonCash Interest Activity i Realized Losses 3, ii Capitalized Interest 775, iii Other Interest Adjustments 2, iv Total NonCash Interest Adjustments 781, F Total Student Loan Interest Activity 2,648,

19 III. 2009CT (Group II) Collection Account Activity 01/01/2010 through 01/31/2010 A B Principal Collections i Principal Payments Received 2,997, ii Consolidation Principal Payments 28, iii Purchases by Servicer (Delinquencies >180) iv Reimbursements by Seller v Reimbursements by Servicer vi Other Repurchased Principal 1,553, vii Total Principal Collections 4,580, Interest Collections i Interest Payments Received 1,709, ii Consolidation Interest Payments iii Purchases by Servicer (Delinquencies >180) iv Reimbursements by Seller v Reimbursements by Servicer vi Other Repurchased Interest 60, vii Collection Fees/Return Items viii Late Fees 95, ix Total Interest Collections 1,866, C Recoveries on Realized Losses D Funds Borrowed from Next Collection Period E Funds Repaid from Prior Collection Periods F Investment Income G Borrower Incentive Reimbursements H Other Deposits 9, I Intial Deposits to the Collection Account TOTAL FUNDS RECEIVED 6,456, AVAILABLE FUNDS PRIOR TO RELEASE FROM CROSS COLLATERALIZATION 6,456, J Amount Released from Group I Cross Collateralization K AVAILABLE FUNDS 6,456, L Servicing Fees Due for Current Period 158, M Carryover Servicing Fees Due N Administration Fees Due 5,00 O Total Fees Due for Period 163,

20 IV. 2009CT (Group II) Loss and Recovery Detail 12/31/ /31/2010 A i Cumulative Realized Losses (Net of Recoveries) 99, B i Recoveries on Realized Losses This Collection Period ii Principal Cash Recovered During Collection Period iii Interest Cash Recovered During Collection Period iv Late Fees and Collection Costs Recovered During Collection Period v Total Recoveries for Period C i Gross Defaults: ii Cumulative Gross Principal Realized Losses plus Principal Purchases by Servicer 99, iii Cumulative Gross Interest Realized Losses plus Interest Purchases by Servicer 3, iv Total Gross Defaults: 103,

21 V. 2009CT (Group II) Portfolio Characteristics Weighted Avg Coupon # of Loans %* Principal Amount %* STATUS 12/31/ /31/ /31/ /31/ /31/ /31/ /31/ /31/ /31/ /31/2010 INTERIM: In School 0% 0% 0 0 0% 0% 0% 0% Grace 0% 0% 0 0 0% 0% 0% 0% Deferment 0% 0% 0 0 0% 0% 0% 0% TOTAL INTERIM 0% 0% 0 0 0% 0% 0% 0% REPAYMENT Active Current % % 27,356 26, % % 258,026, ,440, % % 3160 Days Delinquent % % % 1.978% 5,739, ,459, % 2.033% 6190 Days Delinquent % % % 1.166% 3,831, ,294, % 1.227% Days Delinquent % % % 0.819% 39, ,682, % 0.999% Days Delinquent % % % 0.042% 3, , % 0.053% Days Delinquent 0% 0% 0 0 0% 0% 0% 0% > 180 Days Delinquent 0% 0% 0 0 0% 0% 0% 0% Forbearance % 9.972% % 1.582% 4,763, ,479, % 2.413% TOTAL REPAYMENT % % 28,617 28, % 100% 272,403, ,497, % 100% GRAND TOTAL % % 28,617 28, % 100% 272,403, ,497, % 100% 6

22 VI. 2009CT (Group II) Portfolio Characteristics by Loan Program LOAN PROGRAM WAC # Loans Amount % Career Training Loans % 28, ,497, % Total % 28, ,497, % 7

23 VII. 2009CT (Group II) Accrued Interest Factors Accrued Record Date Interest Factor Accrual Period (Days Prior to Distribution Date) Rate * Index A Class IIA Interest Rate /15/ /16/ NY Business Day % Libor * Pay rates for Current Distribution. For the interest rates applicable to the next distribution date, please see 8

24 VIII. 2009CT (Group II) Inputs From Initial Period 12/31/2009 A Total Student Loan Pool Outstanding i Portfolio Balance 272,403, ii Interest To Be Capitalized 137, iii Total Pool 272,541, iv Reserve Account 695, v Asset Balance 273,236, B Total Note Factor C Total Note Balance 189,326, D Note Balance 01/15/2010 Class A i Current Factor ii Expected Note Balance 189,326, iii Interest Shortfall iv Interest Carryover E Unpaid Primary Servicing Fees from Prior Month(s) F Unpaid Administration fees from Prior Month(s) G Unpaid Carryover Servicing Fees from Prior Month(s) 9

25 IX. 2009CT (Group II) Cross Collateralization Funds Available from Group I Cross Collateralization Less: Releases this period* Total after Group I Cross Collateralization Release * Funds available from the Group II Cross Colleterilization will be used to the extent that the amount of available funds on the distribution date is insufficient to pay items B through J in section XI. Waterfall for Distributions 10

26 X. 2009CT (Group II) Principal Distribution Calculations Principal Distribution i Aggregate Notes Outstanding 01/15/ ,326, ii Asset Balance 01/31/ ,405, iii Specified Overcollateralization Amount 02/16/ ,702, iv Specified Overcollateralization Percentage 5% v Principal Distribution Amount 54,623,

27 XI. 2009CT (Group II) Waterfall for Distributions Remaining Funds Balance A Total Available Funds ( Sections IIIK ) 6,456, ,456, B Primary Servicing FeesCurrent Month plus any Unpaid 158, ,297, C Monthly Administration Fee plus any Unpaid 5,00 6,292, D Class IIA Noteholders' Interest Distribution Amount 350, ,942, E Class IIA Principal Distribution Amount Paid 5,942, F Increase to the Specified Reserve Account Balance G Indenture Trustee, the Trustee and the Delaware Trustee Fees I Carryover Servicing Fees J Additional Principal Distribution Amount K Cross Collateralization Deposits to Group I Collection Account L Remaining Funds to the Certificateholders 12

28 XII. 2009CT (Group II) Distributions A Distribution Amounts Class A i Monthly Interest Due 350, ii Monthly Interest Paid 350, iii Interest Shortfall iv Interest Carryover Due v Interest Carryover Paid vi Interest Carryover vii Monthly Principal Distribution Amount 54,623, viii Monthly Principal Paid 5,942, ix Shortfall 48,681, x Total Distribution Amount 6,292, B Note Balances 01/15/2010 Paydown Factors 02/16/2010 i Class IIA Note Balance 78445LAB8 189,326, ,384, Class IIA Note Pool Factor

29 XII. 2009CT (Group II) Historical Pool Information 01/01/ /31/ /10/ /31/2009 Beginning Student Loan Portfolio Balance 272,403, ,423, Student Loan Principal Activity i Principal Payments Received 3,026, ,335, ii Purchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Seller Reimbursements 1,553, , v Total Principal Collections 4,580, ,504, Student Loan NonCash Principal Activity i Realized Losses/Loans Charged Off 99, ii Capitalized Interest (775,423.94) (491,211.42) iii Capitalized Insurance Fee 2, , iv Other Adjustments (407.81) 1, v Total NonCash Principal Activity (674,402.81) (484,751.39) () Total Student Loan Principal Activity 3,905, ,019, Student Loan Interest Activity i Interest Payments Received 1,710, ,108, ii Repurchases by Servicer (Delinquencies >180) iii Other Servicer Reimbursements iv Seller Reimbursements 60, , v Late Fees 95, , vi Collection Fees viii Total Interest Collections 1,866, ,175, Student Loan NonCash Interest Activity i Realized Losses/Loans Charged Off 3, ii Capitalized Interest 775, , iii Other Interest Adjustments 2, , iv Total NonCash Interest Adjustments 781, , v Total Student Loan Interest Activity 2,648, ,668, (=) Ending Student Loan Portfolio Balance 268,497, ,403, (+) Interest to be Capitalized 212, , (=) TOTAL POOL 268,710, ,541, (+) Reserve Account Balance 695, , (=) Asset Balance 269,405, ,236,

30 XIV. 2009CT (Group II) Payment History and CPRs Distribution Actual Since Issued Date Pool Balances CPR * Jan10 272,541, % Feb10 268,710, % * Constant Prepayment Rate. Since Issued CPR is based on the current period's ending pool balance calculated against the period's projected pool balance as determined at the trust's statistical cutoff date. 15