First Marblehead Sells Portfolio Of TMS Contracts, Says TMS Is Cash Flow Positive Ahead of Projections

First Marblehead(FMD), which purchased Tuition Management Systems at the beginning of the year for $47.25 million, has sold a portfolio of 377 contracts to FACTS, a subsidiary of Nelnet(NNI).  First Marblehead said it decided to sell the contracts relating to lower cost schools, many faith-based, which accounted for 33% of contracts, but only 18% of [...]