Unlock closes $433.1M home equity agreement securitization

Unlock Technologies announced on Monday that it has closed a $433.1 million securitization backed by home equity agreements (HEAs), marking the company’s eighth rated securitization and ninth overall. The transaction, Unlock HEA Trust 2026-2, includes 4,474 HEAs originated and managed by Unlock. The deal closed Oct. 21 and was issued and sponsored by D2 Asset Management. It’s Unlock’s second securitization of 2026. Unlock’s HEAs provide homeowners with upfront cash in exchange for a share of their home’s future value, with no monthly payments during the agreement term. The company said it has provided more than 25,000 homeowners with the product and was the first originator to complete a rated securitization of HEAs. “As more homeowners look to access their home equity to address life needs, HEAs are earning their place alongside HELOCs and home equity loans as mainstream choices, with benefits those products don’t offer,” Unlock CEO Jim Riccitelli said in a statement. A majority of Unlock’s homeowners have credit scores that would qualify them for a home equity line of credit or home equity loan, but they chose an HEA instead, Riccitelli said. He cited rising insurance premiums, p...