About
Welcome to Yrefy (pronounced why-refi)! Established in 2017 by seasoned professionals in the Student Loan industry, we embarked on a mission to assist Distressed Private Student Loan Borrowers while providing consistent returns on investment for our valued investors. At Yrefy, we understand the pressing challenges of student debt faced by younger generations, and we offer a prudent solution to tackle student loan defaults head-on.
Our unique approach addresses this crisis and bridges a critical gap in the market, offering robust returns to our investors. As pioneers in this field, being first to market has given us a distinct advantage over future competitors. Building on long-standing and flourishing relationships with traditional Private Student Loan lenders, we secure a solid foundation for future growth.
The foundation of our strength lies in our team's extensive expertise in the financial, processing, sales, and underwriting domains. With a combined 250+ years of experience in the industry, our management team continues to innovate and stay ahead of the competition, propelling Yrefy to a position of excellence.
At Yrefy, we are committed to making a positive impact on the lives of Borrowers while providing a rewarding investment journey for our valued investors.
Operations Summary
At Yrefy, LLC, we are dedicated to helping distressed Borrowers regain control of their Student Loan debt by offering prime rates for refinancing. Many Borrowers find themselves burdened with late fees, collection costs, and default interest rates, resulting in an effective APR exceeding 20% and even reaching the maximum usury laws in their state.
Our mission is to provide Borrowers with a much-needed solution. Through Yrefy's refinancing program, Borrowers receive a low fixed interest rate with customized terms, making their payments affordable and allowing for rapid recovery and improvement of their FICO credit score.
We specifically focus on supporting delinquent and defaulted Borrowers whose primary or largest debt is their Student Loan. Approximately 70% of these Borrowers have Co-Borrowers, typically parents or grandparents, whose credit is also affected by the outstanding loans. Both Borrowers and Co-Borrowers are highly motivated to seize the opportunity to refinance their Private Student Loan debt at rates that enable them to repay these loans.
Yrefy, LLC and its subsidiaries market to, underwrite, and provide funded loans to Yrefy SLP4, LLC. We offer Borrowers low fixed interest rates and a custom term built around their ability to pay. These previously non-performing loans, where Borrowers may have missed payments for 6-12 months or longer, allow Yrefy SLP4, LLC to create a manageable Student Loan payment for the Borrower. Our unique program takes subprime Borrowers and refinances their Student Loan debt at interest rates typically reserved for only the most creditworthy individuals.
Private education loan Borrowers typically have outstanding debt ranging from $29,800 to $300,000. The interest rates on the initial loan(s) varied widely, with some as low as 3.8% and others as high as 14%, often with variable rates. Borrowers in collections or nearing garnishment hearings may face an effective interest rate of over 20% and, in some cases, even reach maximum usury rates.
Unlike Federal Student Loans, Private Student Loan Borrowers cannot access Federal programs for balance or payment relief. Additionally, Federal or Private Student Loans are rarely dischargeable in Bankruptcy. Yrefy, LLC leverages its experience and lender relationships to originate refinanced student loans at significant discounts based on the Borrowers’ real creditworthiness and offers low fixed interest rates and custom terms, leading to better performance and lower default rates.
The payoff percentage of the existing Student Loan(s) may vary based on the lender, state of collection efforts, and motivation of the original lender/loan servicer.
At Yrefy, we are committed to positively impacting the lives of Borrowers, Co-Borrowers, and investors alike.
