Residential home improvement loans that fund home performance projects including upgrades, windows and doors, water efficiency, generators and roofs will support $389 million in asset-backed securities (ABS), in a deal slated to come to market at the end of the month.
This is GoodLeap Home Improvement Solutions Trust’s second transaction this year after it raised about $408.9 million in April, through series 2026-1.
Donna M. Mitchell is a financial journalist based in the New York metro area with expertise covering structured finance, commercial real estate, and wealth management. Her work has appeared … Read full bio
For reprint and licensing requests for this article, click here.
The A1 class is broken down into three AAA-rated tranches, made up of initial exchangeable notes that can be exchanged for the exchangeable notes.
FFIN 2026-2's notes will repay investors sequentially, other than during a class A credit enhancement period.
The home equity agreements provider faced a week of the 10-year Treasury almost breaking through 5.35%, and a period of peaking mortgage rates.
The deal continues BHG's more recent streak of securitizing loans collateralized exclusively by consumer loans. The deal is the program's sixth term 144A securitization backed by consumer loans.
Classes A1 through A3, which is composed of seven tranches, are expected to pay coupons of 6.39%.
