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SOURCE ECMC Group
OAKDALE, Minn., July 1, 2014 /PRNewswire/ -- ECMC Group announces its formation of ECMC Servicing Corporation and the acquisition of the loan servicing assets of Cology LLC. This acquisition and rollout of ECMC Servicing Corporation adds to a growing suite of products and services offered to the education community by ECMC Group companies.
"Our focus with this acquisition of a private loan servicing platform and business is to provide high-touch loan servicing to borrowers on behalf of lenders that are trying to make loan products available at a reasonable price," said Dave Hawn, ECMC Group president and CEO. "We intend that earnings from this activity will be applied to our mission to help students succeed," says Hawn.
Martin Scanlon, former senior vice president of ECMC, will lead ECMC Servicing as the chief executive officer. Scanlon has 20 years of experience leading high-growth businesses at multiple Fortune 500, nonprofit and consumer finance firms. Lance Teinert will work alongside Scanlon, serving as the company's president. Teinert has been in the student loan and consumer finance industry for over 25 years and most recently served as Cology LLC's head of business operations.
"My team and I are truly honored to be a part of fulfilling the mission of ECMC Group as we continue to provide high quality service to student loan borrowers," said Teinert.
About ECMC Group
ECMC Group is a nonprofit corporation with a mission to help students succeed. All companies in the ECMC Group family work together to fulfill this mission through product and service support and by funding its philanthropic activities through ECMC Foundation. ECMC Group is headquartered in Oakdale, Minn.
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