Achieve Completes $271 Million HELOC Securitization with Jefferies Lead

Achieve's Recent Milestone in Securitization

Introduction
On December 16, 2025, Achieve, renowned for its innovative approach to personal finance, announced the completion of a substantial $271.2 million securitization, specifically tailored from new home equity lines of credit (HELOCs). This landmark transaction, known as ACHM Trust 2025-HE3, is highlighted by its impressive AAA rating from SP Global, a first for Achieve's HELOC assets. This recent development marks a significant step in Achieve's continued expansion and commitment to providing financial solutions that meet consumer needs.

Transaction Overview
The ACHM Trust 2025-HE3 securitization consists of six classes of rated mortgage-backed notes alongside two unrated classes, representing a diverse assortment of risk levels tailored for a range of institutional investors. This deal is backed by a robust portfolio of over 3,800 HELOCs acquired through Achieve Home Loans. Jefferies played a pivotal role as the sole structuring agent and lead bookrunner, with notable contributions from Barclays and Deutsche Bank Securities as joint bookrunners, along with Performance Trust as a co-manager in this project.

Key Details of the Portfolio
As of the cutoff date on October 31, 2025, the HELOCs included in this transaction demonstrate a varied yet promising financial profile. The portfolio carried a total unpaid principal balance of approximately $271.2 million and a weighted average seasoning of just two months, indicating a fresh set of assets coming to market. The weighted average combined loan-to-value ratio for the HELOCs and first-lien mortgages stood at a favorable 67.41%, showcasing the prudence in lending standards upheld by Achieve.

Recognition and Validation
Achieve's Co-Founder and Co-CEO, Andrew Housser, emphasized the importance of the AAA rating from SP Global, considering it a testament to their distinct strategy regarding HELOC offerings. This successful securitization not only enhances Achieve's reputation but also broadens the attractiveness of their assets to potential institutional investors. With strategic overcollateralization and robust credit enhancement features, such as a pro-rata payment structure across various note classes, the transaction is designed to afford an expedited payoff for higher-cost subordinate debt, thus optimizing investor returns.

Understanding Achieve's HELOCs
The HELOCs provided by Achieve are uniquely structured to aid homeowners in leveraging their property equity for various financial purposes, including debt consolidation, home renovations, and large purchase management. Unlike traditional HELOCs, which may carry variable rates and unpredictable payment schedules, Achieve's offerings are fixed-rate and fully amortized, eliminating the risk of payment shocks. Moreover, these loans come with a term length of 10 to 30 years, incorporating a generous five-year draw period, coupled with no prepayment penalties.

Commitment to Financial Wellness
Achieve's diligence in assessing the financial health of its members during the application process is noteworthy. The organization adopts comprehensive collateral valuation techniques to ensure that HELOCs are originated with low combined loan-to-value ratios, thereby building a buffer of remaining home equity for homeowners. This commitment to financial wellness empowers Achieve's clients to meet their immediate financial needs while safeguarding their long-term wealth potential.

Conclusion
The ACHM Trust 2025-HE3 marks Achieve's third HELOC securitization this year, adding to a total of eight completed securitizations by the company, which boast a cumulative volume nearing $1.5 billion. Additionally, Achieve has successfully facilitated 22 personal loan securitizations, with total issuances surpassing $7.3 billion across both personal loans and HELOCs. This achievement is a milestone for Achieve as it continues to address modern financial challenges through innovative and secure solutions for its members, maintaining its position at the forefront of digital personal finance.

For further information regarding Achieve's services, visit achieve.com/home-equity-loan.