The First Marblehead Corporation (FMC) offers outsourcing services to national and regional financial institutions and educational institutions in the United States for designing and implementing private education loan programs. The Company offers integrated suite of services, including its monogram loan product, as well as certain services on a stand-alone, fee-for-service basis. In addition, FMC provides administrative and other services to securitization trusts that the Company has facilitated and asset servicing to the third-party owner of certain securitization trusts. The Company’s bank subsidiary, Union Federal Savings Bank (Union Federal) is a federally chartered thrift that offers residential and commercial mortgage loans, and certain other banking products, and prior to fiscal year ended June 30, 2009, offered private education loans. It also offers clients tailored outsourced loan origination, portfolio management and other services.