By leveraging proprietary data and analytics, our solutions are tailored for each step of a consumer's financial journey and include personal loans ( FreedomPlus), home equity loans ( Lendage), help with debt ( Freedom Debt Relief), and even financial tools and education ( ). Our solutions help everyday people get on, and stay on, the path to a brighter financial future, with innovative technology and personalized support. We do what traditional banks don't: Put people first. Issuance across all FCCF securitizations now totals nearly $3.5 billion and total loan originations through the FFAM platform now exceed $7.5 billion.įreedom Financial Network is a leading digital personal finance company. The transaction structure features overcollateralization, subordination, a reserve fund and excess spread. Underwriting the transaction was Truist, serving as structuring agent and joint book runner Jefferies, joint book runner and Credit Suisse, joint book runner. "The completion of this transaction during a time in which several other issuers pulled deals due to the volatile economic and geopolitical climate highlights our expertise and experience in this market segment where we help everyday people achieve their financial goals." "ConsolidationPlus loans are an important method to help consumers address debt as they seek to get on the path to a brighter financial future," said Andrew Housser, Co-Founder and Co-CEO of Freedom Financial Network. The D class notes were not rated by DBRS. The Class A, Class B and Class C fixed-rate notes were rated AAA (sf), AA (sf) and A (high) (sf) by DBRS Morningstar. The Class A, Class B, Class C and Class D fixed-rate notes were rated AAA (sf), AA (sf), A (sf) and BBB- (sf) by KBRA. The loans are offered exclusively to clients of Freedom Debt Relief (FDR) and certain other debt resolution companies who have been enrolled in a debt program for at least six months and made timely payments into their dedicated accounts. ConsolidationPlus loans help borrowers accelerate the process of resolving unsecured debt. The underlying ConsolidationPlus loans were originated by bank partners Cross River Bank ® and MetaBank ®, N.A.
#Freedome network manual
Underwriting for the ConsolidationPlus loan program is based on proprietary algorithms that evaluate behavioral, transactional, employment and income data, as well as a manual review of borrowers' creditworthiness. The deal is the 12 th securitization by Freedom Consumer Credit Fund (FCCF), an investment fund managed by Freedom Financial Asset Management (FFAM).
It is also the first securitization of ConsolidationPlus loans to receive AAA ratings from two ratings agencies. The securitization, FREED ABS Trust 2022-2CP, is the second Freedom deal to receive an AAA rating from DBRS Morningstar and the fourth to receive a AAA rating from Kroll Bond Rating Agency (KBRA).
SAN MATEO, Calif., Ap/PRNewswire/ - Freedom Financial Network (FFN), a leading digital personal finance company, announces the closing of a securitization consisting of $204.93 million in rated notes backed by ConsolidationPlus personal loans. Deal is the 12th Freedom securitization and brings total issuance to nearly $3.5 billion
0 kommentar(er)
