Student Loan ARM Firm FMS Announces Corporate Reorganization

FMS Services, Inc. Tuesday announced the reorganization of its subsidiaries under the company’s new legal name: Ceannate Corp. (loosely derived from the Gaelic word meaning “leadership”).

The reorganization is not a change in ownership or leadership. It better represents the continued diversification of the company’s services. This action facilitates best practices and synchronizes communications within the subsidiary companies.

“As an organization, we continue to grow and offer expert services spanning the entire education loan lifecycle,” said Bruce MacFarlane, Chairman of Ceannate Corp., which consists of the following companies:

FMS Investment Corp. (dba Financial Management Systems) continues to specialize in education debt collection and account servicing of Title IV or federally guaranteed student loans as well as private education receivables.

The i3 Group, LLC specializes in default aversion of Title IV student loans as well as a variety of in-school service offerings including financial literacy, billing, and unique SaaS solutions such as LoanAxis™ (a case management platform for on-campus operations).

Loanlook, Inc., through its loanlook.com portal, focuses on self-service, empowering high school students, college students, and those in repayment with actionable data via user-friendly Web tools. Loanlook, Inc. also provides payment integrity solutions through its suite of patented software products (i.e. AuthenticAID™).

MacFarlane continued, “we have formalized our business units into focused entities that capitalize on the intellectual equity of the entire organization. This new framework provides the dedicated resources needed to best serve our growing list of increasingly diverse stakeholders. To our clients and students we serve, this is a great thing because the individual companies will focus on their own mission of being the best for each client and student.”

Headquartered in Schaumburg, IL (USA), Ceannate Corp. is a leader in the education finance sector. With over 500 employees, Ceannate provides services to the U.S. Department of Education, colleges and universities across the nation, private lenders, and over 500,000 students and student-borrowers.