Unlock Technologies Closes Fourth Rated Home Equity Agreement Securitization, Issued and Sponsored by Saluda Grade

Milestone deal enables more homeowners to access the home equity they've earned

TEMPE, Ariz., July 16, 2025 /PRNewswire/ -- Unlock Technologies (Unlock), a leading fintech company offering a flexible way to access home equity, has successfully closed its fourth rated home equity agreement (HEA) securitization: Unlock HEA Trust 2025-1. Unlock was the first to securitize home equity agreements in 2021, and this is the company's first securitization deal of 2025.

Unlock HEA Trust 2025-1, a transaction issued and sponsored by Saluda Grade, securitized $227 million of HEAs originated and managed by Unlock. With multiple first-time investors, the transaction was oversubscribed and featured notes with BBB, BBB (low) and BB ratings from Morningstar DBRS. The deal closed June 30, 2025.

Jefferies LLC acted as a structuring lead with Barclays Capital as a joint bookrunner. Texas Capital Securities acted as co-manager.

"This fourth rated securitization was well executed by our team and provides us with additional capital to help more homeowners reach their financial goals," said Jim Riccitelli, CEO of Unlock. "In a recent independent survey,* 84% of our customers reported being in a stronger financial position after their home equity agreement was funded, and more than half said their mental health had improved. That's real, meaningful impact."

Unlock allows homeowners to access their home equity with a clear, straightforward process. With Unlock's HEA, there are no monthly payments or income requirements to qualify. Unlock provides upfront cash in exchange for a share of their home's future value, offering a flexible, transparent solution available to a wide range of homeowners.

"The robust investor interest in this deal, particularly among first-time investors, I believe underscores the growing confidence in the home equity agreement market and its potential for sustainable growth," said Matt Van Arkel, head of capital markets at Saluda Grade. "The expertise and collaboration between all partners have been instrumental in driving this innovative asset class forward, offering both homeowners and investors a compelling option in today's financial landscape."

Disclaimer:

This press release is for informational purposes only, and is neither an offer to sell nor the solicitation of an offer to any for any other securities, and shall not constitute an offer, solicitation or sale. Any offers will be made only by means of a private offering memorandum. Funds managed by Saluda Grade and certain Saluda Grade employees hold equity stakes and/or voting board seats at Unlock Technologies.

Forward-looking statements:

Statements in this press release have "forward-looking statements," and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements.

About Unlock Technologies

Founded in 2020, Unlock Technologies is a Tempe, Arizona-based financial technology company providing products and services that help consumers solve financial challenges and improve their financial health. The company's flagship product is its home equity agreement, a financing option for homeowners who want to access the equity they have built in their homes without taking out a loan.

* Based on a survey commissioned by Unlock, and conducted by Egg Strategy, from April 23 to May 1, 2025 among 225 Unlock customers. Self-reported results; individual experiences may vary.

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SOURCE Unlock Technologies