Eighth securitization of Achieve HELOCs is first to be rated by S&P Global
SAN MATEO, Calif., Dec. 19, 2025 /PRNewswire/ — Achieve, the leader in digital personal finance, announces the Dec. 16 close of a $271.2 million, AAA-rated securitization backed by newly originated home equity lines of credit (HELOCs).
The securitization, ACHM Trust 2025-HE3, includes six classes of rated, mortgage-backed notes and two classes of unrated mortgage-backed notes. The deal is backed by more than 3,800 HELOCs originated by Achieve Home Loans. The deal was co-sponsored by Achieve and Jefferies. Jefferies served as sole structuring agent and lead bookrunner, Barclays and Deutsche Bank Securities each served as a joint bookrunner and Performance Trust served as co-manager.
As of the October 31, 2025, cutoff date, the HELOCs in the portfolio had a weighted average seasoning of two months, a total unpaid principal balance of approximately $271.2 million, and a total original principal balance of approximately $275.2 million. The weighted average combined loan-to-value ratio of the deal portfolio’s HELOCs and borrowers’ first-lien mortgages is 67.41%.
ACHM Trust 2025-HE3 is the first HELOC securitization of Achieve assets rated by S&P Global, which assigned the following ratings to the deal’s notes: Class A: AAA (sf); Class B: AA- (sf); Class C: A- (sf); Class D: BBB- (sf); Class E: BB- (sf); and Class F: B- (sf). DBRS Morningstar also assigned the following ratings: Class A notes: AAA (sf); and Class B notes: AA (low) (sf); and was not asked to assign a rating the remaining classes.
“The deal’s AAA rating from S&P Global serves as further validation of Achieve’s differentiated approach to HELOCs,” said Achieve Co-Founder and Co-CEO Andrew Housser. “We’re pleased to have worked with one of the ‘Big Three’ credit ratings agencies on this deal and the opportunity it provided to expand the universe of prospective institutional investors in Achieve’s assets.”
The transaction features overcollateralization and other layers of credit enhancement. ACHM Trust 2025-HE3 also features a pro rata payment schedule across the Class A, Class B and Class C notes. This structure is intended to allow for higher-cost subordinate debt to pay off sooner than in a deal with a sequential payment structure.
Achieve’s HELOCs are designed to help homeowners use a portion of their home’s equity to consolidate unsecured debts, pay for home renovations, better manage the expense of an upcoming large purchase — or a combination of the three. The HELOCs are fixed-rate and fully amortizing, which eliminates the uncertainty and risk of payment shock that traditional HELOCs present to consumers via variable rates, interest-only periods, or balloon payments. The HELOCs are fully drawn at origination and carry a 10-, 15-, 20- or 30-year term that includes a five-year draw period and no prepayment penalty for the life of the loan. In October, Achievefurther enhanced its HELOC offering by lowering the best available interest rate to 6.24%.
In most cases, the HELOCs are secured by a junior lien on the homeowner’s primary residence, although a small portion of HELOCs in the deal hold a first-lien position. Achieve works with its members to conduct a comprehensive financial assessment during the application process. A thorough collateral valuation process helps ensure the HELOCs are originated with low combined loan-to-value ratios that preserve an ample cushion of remaining home equity. Achieve believes this better enables its members to address their immediate financial needs without jeopardizing their opportunity to build long-term wealth via their home.
This is Achieve’s third HELOC securitization of 2025 and eight overall, bringing Achieve’s cumulative HELOC securitization volume to nearly $1.5 billion. In addition, Achieve or its affiliates have sponsored 22 personal loan securitizations, with cumulative issuances across all Achieve-affiliated personal loan and HELOC securitizations totaling over $7.3 billion. Achieve also closed its first debt settlement fee securitization on Dec. 18. Total loan originations through the Achieve Personal Loans platform and Achieve Home Loans is over $14 billion.
For more information about Achieve HELOCs, visit: achieve.com/home-equity-loan
This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to buy the notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”), or the securities laws of any jurisdiction. The notes were offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons pursuant to Regulation S under the Securities Act.
About Achieve
Achieve, THE digital personal finance company, helps everyday people get on, and stay on, the path to a better financial future. Achieve pairs proprietary data and analytics with personalized support to offer personal loans, home equity loans, debt relief and debt consolidation, along with financial tips and education and free mobile apps: Achieve MoLO® (Money Left Over) and Achieve GOOD™ (Get Out Of Debt). Achieve has 2,200 dedicated teammates across the country, with hubs in Arizona, California, Florida and Texas. Achieve is frequently recognized as a Best Place to Work.
Achieve refers to the global organization and may denote one or more affiliates of Achieve Company, including Achieve.com, Equal Housing Opportunity (NMLS ID #138464); Achieve Home Loans, Equal Housing Opportunity (NMLS ID #1810501); Achieve Personal Loans (NMLS ID #227977); Achieve Debt Relief (NMLS ID # 1248929); and Freedom Financial Asset Management (CRD #170229).
Contacts
Austin Kilgore
akilgore@achieve.com
214-908-5097
Elina Tarkazikis
etarkazikis@achieve.com
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SOURCE Achieve
