Torben Lendager

Achieve Announces Close of Innovative, $175M HELOC Securitization

Retrieved on: 
Thursday, December 1, 2022
SAN, Bills.com, HELOC, BBB, Gingival recession, Multimedia, Risk, Education, Class, Great Recession, NMLS, Equal housing lender, Capital market, ID, AAA, FCCF, Uncertainty, Securitization, ABS, Security (finance), Bank, Torben Lendager

SAN MATEO, Calif., Dec. 1, 2022 /PRNewswire/ -- Achieve, the leader in digital personal finance, announces the closing of a first-of-its-kind, AAA-rated securitization backed by $175 million in newly-originated home equity lines of credit (HELOCs).

Key Points: 
  • SAN MATEO, Calif., Dec. 1, 2022 /PRNewswire/ -- Achieve , the leader in digital personal finance, announces the closing of a first-of-its-kind, AAA-rated securitization backed by $175 million in newly-originated home equity lines of credit (HELOCs).
  • The securitization, FREED Mortgage Trust 2022-HE1, consists of three classes of rated notes backed by nearly 3,300 HELOCs originated by Achieve Loans.
  • "But what makes this securitization truly unique is the consumer-centric nature of the Achieve HELOCs backing the deal."
  • The HELOC transaction is the 15th securitization by the Freedom Consumer Credit Fund (FCCF), an investment fund managed by Freedom Financial Asset Management (FFAM), an Achieve company.

KBRA Assigns Preliminary Ratings to FREED ABS Trust 2022-4FP

Retrieved on: 
Wednesday, October 19, 2022
Professional Services, Finance, CA, Vulcan Inc., Class, LLC, ABS, Company, Torben Lendager, FFN, KBRA, Credit, Security (finance), Telescopic sight

KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-4FP (FREED 2022-4FP), a $283.15 million consumer loan asset-backed securities transaction.

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-4FP (FREED 2022-4FP), a $283.15 million consumer loan asset-backed securities transaction.
  • The preliminary ratings reflect initial credit enhancement levels of 67.85% for the Class A notes, 45.10% for the Class B notes, 34.70% for the Class C notes, and 18.30% for the Class D notes.
  • This transaction represents the fourteenth overall ABS securitization collateralized by unsecured consumer loans originated through Freedom Financial Asset Management, LLC (FFAM or the Company).
  • KBRA considered its operational review of Freedom, as well as periodic update calls with the Company.

KBRA Assigns Preliminary Ratings to FREED ABS Trust 2022-3FP

Retrieved on: 
Friday, June 24, 2022
Banking, Professional Services, Finance, Torben Lendager, FFN, ABS, Class, Company, Credit, Vulcan Inc., LLC, KBRA, CA, Security (finance)

KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-3FP (FREED 2022-3FP), a $323.55 million consumer loan asset-backed securities transaction.

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-3FP (FREED 2022-3FP), a $323.55 million consumer loan asset-backed securities transaction.
  • The preliminary ratings reflect initial credit enhancement levels of 63.10% for the Class A notes, 42.25% for the Class B notes, 33.30% for the Class C notes, and 18.20% for the Class D notes.
  • This transaction represents the thirteenth overall ABS securitization collateralized by unsecured consumer loans originated through Freedom Financial Asset Management, LLC (FFAM or the Company).
  • KBRA considered its operational review of Freedom, as well as periodic update calls with the Company.

KBRA Assigns Preliminary Ratings to FREED ABS Trust 2022-2CP

Retrieved on: 
Tuesday, March 22, 2022
Banking, Professional Services, Finance, Company, FFN, Credit, ABS, Class, Vulcan Inc., KBRA, LLC, CA, Torben Lendager, Security (finance)

KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-2CP (FREED 2022-2CP), a $204.93 million consumer loan asset-backed securities transaction.

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-2CP (FREED 2022-2CP), a $204.93 million consumer loan asset-backed securities transaction.
  • The preliminary ratings reflect initial credit enhancement levels of 44.50% for the Class A notes, 25.35% for the Class B notes, 17.35% for the Class C notes, and 7.35% for the Class D notes.
  • Credit enhancement consists of overcollateralization, subordination (except for the Class D notes), a reserve account, and excess spread.
  • This transaction represents the twelfth overall ABS securitization collateralized by unsecured consumer loans originated through Freedom Financial Asset Management, LLC (FFAM or the Company).

KBRA Assigns Preliminary Ratings to FREED ABS Trust 2022-1FP

Retrieved on: 
Wednesday, January 12, 2022
Banking, Professional Services, Finance, FFN, KBRA, Credit, ABS, CA, Class, Torben Lendager, Company, Vulcan Inc., LLC, Security (finance)

KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-1FP (FREED 2022-1FP), a $232.89 million consumer loan asset-backed securities transaction.

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2022-1FP (FREED 2022-1FP), a $232.89 million consumer loan asset-backed securities transaction.
  • The preliminary ratings reflect initial credit enhancement levels of 58.75% for the Class A notes, 37.75% for the Class B notes, 28.25% for the Class C notes, and 15.00% for the Class D notes.
  • This transaction represents the eleventh overall ABS securitization collateralized by unsecured consumer loans originated through Freedom Financial Asset Management, LLC (FFAM or the Company).
  • KBRA considered its operational review of Freedom, which was conducted in August 2019, as well as periodic update calls with the Company.

KBRA Assigns Preliminary Ratings to FREED ABS Trust 2021-3FP

Retrieved on: 
Wednesday, September 15, 2021
Professional Services, Finance, KBRA, CA, Bond, Credit, Company, LLC, Vulcan Inc., ABS, Torben Lendager, Class, FFN, Security (finance)

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2021-3FP (FREED 2021-3FP), a $230.49 million consumer loan asset-backed securities transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by FREED ABS Trust 2021-3FP (FREED 2021-3FP), a $230.49 million consumer loan asset-backed securities transaction.
  • The preliminary ratings reflect initial credit enhancement levels of 58.00% for the Class A notes, 38.50% for the Class B notes, 28.75% for the Class C notes, and 15.00% for the Class D notes.
  • This transaction represents the tenth overall ABS securitization collateralized by unsecured consumer loans originated through Freedom Financial Asset Management, LLC (FFAM or the Company).
  • KBRA considered its operational review of Freedom, which was conducted in August 2019, as well as periodic update calls with the Company.