Credit Suisse Securitizes $358.9 million of GoodLeap Sustainable Home Improvement Loans
Sustainable home upgrades represent an estimated $430 billion annual market opportunity in the United States. GoodLeap leverages its deep expertise in technology and data to make these sustainable home upgrades more accessible for homeowners who are looking to have a positive impact on the planet. GoodLeap’s proprietary technology platform is accessed by more than 18,000 sales professionals at the point-of-sale, creating an efficient option for financial institutions to deploy their capital in high-performing environmental, social and governance (ESG) assets. GoodLeap has deployed more than $9 billion of solar loans and other home efficiency loans through its platform since 2018.
There have been eleven securitizations of loans originated on the GoodLeap platform totaling $3.8 billion, with over half of the securitized volume happening in 2021 alone.
“We are pleased to sponsor another successful securitization of GoodLeap. This transaction will help the company in achieving a low cost of funding and continues our track record of developing the institutional capital markets for renewable energy and efficiency assets, in line with Credit Suisse’s commitment to support sustainability,” said Spencer Hunsberger, Managing Director in Securitized Products Finance at Credit Suisse.
This securitization, sponsored by Lime Residential, Ltd., consists of a total of $302.4 million of notes rated by Fitch Ratings, S&P Global Ratings and Kroll Bond Rating Agency. The notes are backed by $358.9 million of principal balance of loans with a weighted average note rate of 2.43{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}. At the time of origination, the weighted average FICO® score of the loans was 740. All tranches of the transaction were multiple times oversubscribed.
About GoodLeap
GoodLeap is America’s leading marketplace for sustainable solutions, delivering a digital-first experience that is simple, fast, and frictionless. GoodLeap’s proprietary technology platform is actively used by more than 18,000 sales professionals, creating an efficient option for financial institutions to deploy their capital in high-performing ESG assets. GoodLeap has deployed over $9 billion in capital for sustainable home improvement products since 2018, empowering countless consumers to live a more sustainable lifestyle. GoodLeap is a proud partner of GivePower, a 501(c)(3) corporation, whose mission is to build and deploy solar-powered clean water and energy systems to communities in need around the world. To learn more about GoodLeap, visit, follow and connect with us at goodleap.com
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