Freedom Financial Network Closes 10th Securitization, Earns AAA Kroll Rating


Freedom Financial Network Closes 10th Securitization, Earns AAA Kroll Rating

September 28, 2021


Freedom Financial Network Closes 10th Securitization, Earns AAA Kroll Rating

-- Oversubscribed deal, collateralized by personal loans, brings total issuance to $3 billion --


SAN MATEO, Calif., Sept. 28, 2021 -- Freedom Financial Network, a leading consumer-centric financial services company and the parent company of Freedom Financial Asset Management (FFAM), has closed its 10th securitization, placing $230.5 million of rated notes.

This securitization, 4.8 times oversubscribed by investors, is the first FreedomPlus-specific deal to receive an AAA rating from Kroll Bond Rating Agency (KBRA). FreedomPlus loans help consumers consolidate debt, lower interest rates and convert revolving debt into lower-cost, more consumer-friendly installment loans. FreedomPlus loans are originated by Cross River Bank® and MetaBank®, N.A.

“The AAA rating confirms the strong performance and market leadership of FFAM, and in particular, FreedomPlus loans,” says Joseph Toms, president and chief investment officer of FFAM. “We continue to help consumers move along a path to financial health while offering investors strong risk-adjusted returns.” 

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 Class A, Class B and Class C fixed-rate notes were rated AA (high) (sf), AA (sf) and A(i) (sf) by DBRS Morningstar. The D class notes were not rated by DBRS. 

Underwriting the transaction was Credit Suisse, serving as lead-left book runner; Jefferies, lead-right book runner; and Truist Securities, co-manager. In addition, this securitization is bringing in four new investors. 

Issuance across all 10 Freedom Financial Network (FFN) securitization transactions now totals nearly $3 billion. Total loan originations through the FFAM platform now exceed $6.1 billion. More than $3.7 billion are through FreedomPlus personal loans. 

 “As a leader in providing consumers with solutions to support every step in their financial journeys, we continue to offer innovative and highly customized loan products to help people overcome debt and reach their financial goals,” says Andrew Housser, co-founder and co-CEO of Freedom Financial Network. “The milestone of a 10th securitization, with issuance reaching $3 billion, is strong validation from both consumers and investors that our approach is a sound one.”

Freedom Financial Network (

Freedom Financial Network provides consumer-centric solutions that empower people to live healthier financial lives. Financial solutions include FreedomPlus and Consolidation Plus personal loans, debt relief and restructuring (Freedom Debt Relief), home equity lines of credit (Lendage) and financial education ( Headquartered in San Mateo, California, Freedom Financial Network also has offices in Tempe, Arizona. The company employs nearly 2,300 team members and has been voted one of the best places to work in both the San Francisco Bay and Phoenix areas for several years.

Contact: Erica Bigley,, 415-710-9006