Thursday, July 22, 2010

Who We Are

CampusDoor was founded in 1995 to deliver student loans to borrowers and their families via web-based application systems. Today, that sounds too basic for any company’s vision statement. But in the mid-nineties, the Company pioneered dozens of firsts: the first online private, credit based student loan application with a live underwriting and response system, the first truly branded student loan, the first venture capital funded, privately owned private education lender. CampusDoor first launched at NASFAA in 2000 and made its first loan in the spring of 2001, with 46 loans processed. CampusDoor also shifted into a strategic alliance with KeyBank in early 2001. Just two years later, the company crafted the auto-certification process which allowed consumers to apply for and be approved in just seconds for a private student loan.

Nearly 15 years later, the company, its original founders, and employees have experienced the ups and downs of the financial world. Sold to Lehman Brothers in 2006, the company grew to become one of the largest private loan providers in the US. The company was on track to originate $1 billion in loans in 2008 with over 300 employees in four locations. Later that year, Lehman Bros.’ bankruptcy forced the closing of CampusDoor. In late 2009, the founders reacquired the company from Lehman Bros. In the first half of 2010, the founders and employees worked to enhance and redeploy the CampusDoor loan origination systems and the company made its first loan on the new platform in July.

CampusDoor broadcasts their new mantra proudly: Understand, Innovate, Achieve. Our mission is: “CampusDoor provides innovative student loan solutions, systems and processing to lenders enabling them to help their customers pay for college. We understand the education finance marketplace, and leverage our knowledge and technology to help our clients achieve their goals.”
We will be posting frequent updates noting our accomplishments and chronicling our journey towards developing even more innovative products and services to better serve you.

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