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Unison Announces First DBRS Rated Securitization of $202 Million of Unison Home Equity Agreements

Wednesday, 29 November 2023 09:00 AM


The securitization is Unison's first under DBRS Morningstar's recently finalized ratings criteria for the U.S. Home Equity Investments asset class

SAN FRANCISCO, CA / ACCESSWIRE / November 29, 2023 / Unison, the pioneer of equity sharing agreements, closed a securitization of $202 million of assets, supporting the U.S. Home Equity Investments (HEI) asset class and increasing access to institutional investors who want to participate in this emerging sector. This securitization is the first of Unison's to take place after DBRS Morningstar finalized their ratings criteria for the burgeoning asset class earlier this year.

DBRS Morningstar rated Unison's senior bond BBB, and the mezzanine bond BB-, setting the precedent for future rated securitizations to take place.

Unison's equity sharing agreements help homeowners who otherwise struggle to unlock trapped equity, as traditional solutions require them to take on additional debt. This transaction further enables Unison to pave the way for homeowners to renovate their homes, save for retirement, and consolidate their debt, rather than further adding to it. Unison is proud to provide this innovative alternative both for homeowners in need and investors pursuing efficient and scalable investment opportunities into the largest asset class in the world: owner-occupied residential real estate.

The transaction closed on Nov. 28, 2023, and included Barclays, as structuring agent and joint bookrunner, and Performance Trust, as joint bookrunner. Mayer Brown, LLP served as the legal representative of the issuer, and Hunton Andrews Kirth, LLP as the legal representative of the initial purchasers.

As Unison's first rated securitization after DBRS Morningstar finalized the ratings criteria for the HEI asset class, the transaction is a significant step forward in validating HEI as a mainstream asset for institutional and other investors. Unison, who pioneered the equity sharing agreement and institutionalized the HEI asset class, is delighted to continue to occupy the forefront of its formalization and recognition of its resilience.

Unison Chief Investment Officer Matt O'Hara describes the securitization as "a demonstration of both the increasing investor demand for scalable investment opportunities into the largest asset class in the world - owner-occupied residential real estate - and the heightened confidence in Home Equity Sharing Agreements as a reliable and gainful asset."

As a market leader, Unison Investment Management (UIM) helps homeowners access the accumulated value of their homes while enabling institutional investors to access U.S. residential home price appreciation. Their portfolios provide low volatility and high risk-adjusted net returns relative to other major asset classes.

About Unison:

Unison is a San Francisco and Omaha-based company that is pioneering a smarter, better way to own your home. Until now, the only way to finance a home was by taking on debt. Through Unison residential equity agreements, we help homeowners access their equity flexibly with no monthly payments or interest. We enhance home affordability, reduce debt, and deliver a less risky way for homeowners, investors, and society to think about that important asset - the home. Unison Investment Management, LLC serves as investment manager to Unison's investment funds and separately managed accounts. It powers efficient capital deployment and active management at scale. Our investment philosophy is ingrained in the models, systems, and processes we build to make investments. We are committed to providing institutional investors unrivaled transparency and innovative product offerings for this new asset class. For additional information, visit and

Contact Information:

Helene Ton Anderson
VP of Marketing
[email protected]

SOURCE: Unison

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