Achieve, a leading digital personal finance company, announced the successful close of a $186.4 million AAA-rated securitization on November 7, 2024. The transaction, ACHV ABS Trust 2024-3AL, includes five classes of rated notes backed by 13,299 unsecured consumer loans. Co-sponsored by Achieve and Nelnet, the securitization earned AAA ratings from DBRS and Kroll Bond Rating Agency (KBRA) for specific tranches, reflecting strong investor confidence. These loans, exclusively offered to participants in Achieve’s debt relief program and certain legal services members, provide a pathway to consolidate and resolve existing debts faster. To improve its security profile, the transaction's structure includes reserve funds, excess spread, subordination, and overcollateralization.
Achieve’s proprietary underwriting combines advanced algorithms with manual reviews to ensure high credit quality. Since 2018, Achieve has completed 21 personal loan securitizations and five home equity line securitizations, totaling $6.4 billion in issuances. Achieve has originated over $12.5 billion in loans across its platforms, establishing itself as a trusted provider of financial solutions. With operations across the U.S. and a reputation for innovation, Achieve continues to empower consumers through personalized debt relief tools, including Achieve MoLO and Achieve GOOD apps. Co-Founder Andrew Housser highlighted the strong demand for Achieve’s differentiated assets, emphasizing their role in facilitating financial recovery for borrowers.
