New Home Loan Category Supported by New Carlyle Investment Offers Interest-Only, Below-Market Monthly Payments to Fund Personal Goals Without Selling Assets or Increasing Debts 

SAN FRANCISCO, Sept. 17, 2024 /<a href="https://www.prnewswire.com/news-releases/unison-launches-innovative-equity-sharing-home-loan-to-convert-home-equity-into-cash-302250356.html">PRNewswire</a>/ -- <a href="https://unison.com">Unison</a>, the pioneer of equity sharing agreements, today announced the launch of the Unison Equity Sharing Home Loan, which enables homeowners to receive cash today at below-market rates. 

Today, the company also <a href="https://www.carlyle.com/media-room/news-release-archive/carlyle-enters-strategic-partnership-unison-purchase-300-million">announced</a> that global investment firm <a href="https://www.carlyle.com/">Carlyle</a> (NASDAQ: CG) has entered into an agreement to purchase up to $300 million of equity sharing home loans from Unison <a href="https://www.unison.com/">as part of the Unison Equity Sharing Home Loan launch</a>. 

U.S. homeowners have almost <a href="https://finance.yahoo.com/news/home-equity-investments-become-emerging-041014938.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cucHJuZXdzd2lyZS5jb20vbmV3cy1yZWxlYXNlcy91bmlzb24tbGF1bmNoZXMtaW5ub3ZhdGl2ZS1lcXVpdHktc2hhcmluZy1ob21lLWxvYW4tdG8tY29udmVydC1ob21lLWVxdWl0eS1pbnRvLWNhc2gtMzAyMjUwMzU2Lmh0bWw&guce_referrer_sig=AQAAAN315J5sfKuJZdwN_whaHyoFEpAUHPuQKccoNaAwfCNwPdzq2deSbOoBoAEMfP1CO0QC20ZQQyFHuPHFvJD4j8SQDc-ekDuzVgDnq7hiCs6k390_D28M6Q2EjFVazuSW9SIjiXoaP4SrQzMz72EQouadM8CSP9qd9xlVl_vT4rVi">$32 trillion</a> in home equity, but most aren't refinancing their current low-interest first mortgages, which results in their biggest asset being inaccessible as homes continue to appreciate. 

The innovative Unison Equity Sharing Home Loan combines the benefits of home loans and home equity sharing agreements into a unique mortgage solution that allows homeowners to manage personal financial goals by converting home equity into cash with low monthly payments. This new financial product also introduces potential home price appreciation to investors in the mortgage asset category.
 
The Unison Equity Sharing Home Loan offers homeowners a fixed below-market interest rate* for accessing a portion of their home equity, while also allowing them to make use of the appreciation potential of their home. Homeowners lucky enough to have a low-interest first mortgage can maintain their favorable rates, and access capital immediately, with minimal impact to monthly cash flow. 

"Whether homeowners want to renovate their homes, consolidate high-interest debt, or secure their financial future, Unison's Equity Sharing Home Loan offers a versatile and customizable solution to suit their individual needs and aspirations," said Ryan Downs, President of Unison. "With lower monthly payments, made possible by shared home appreciation, homeowners can confidently pursue their financial goals with peace of mind." 

About the Unison Equity Sharing Home Loan 
<ul>
 <li>Lower Monthly Payments: An interest-only loan, part of the cost is offset by sharing a portion of the home's future appreciation, as well as partially-deferred interest.
 <li>Eligibility Criteria: We welcome homeowners with a FICO score of 680 and above, a maximum combined loan to value ratio of 70%, and a debt-to-income ratio not exceeding 40%.
 <li>Early Repayment, No Penalty: Borrowers can repay the loan early without penalty, which includes paying back the original loan amount, any deferred interest, and the agreed-upon share of appreciation.
 <li>Better Credit, Better Terms: Homeowners with higher FICO scores may receive more favorable loan terms.
 <li>Remodeling Benefit: Homeowners who make improvements--beyond that of regular maintenance--are eligible, after 3 years, to request a credit for the added value, which reduces the shared appreciation component.
 </ul> 

Unison vs. Other Loan Offers
Through the Unison Equity Sharing Home Loan, Unison designed an innovative and new financing option offering homeowners lower rates and monthly payments than provided by traditional equity financing products. Its unique structure combines a below-market rate home loan and a share of the property value future appreciation.
 
Availability
The Unison Equity Sharing Home Loan is available today. Find out if you are eligible and obtain a free estimate with no obligation by visiting <a href="https://www.unison.com/homeloan">www.unison.com/homeloan</a>. 

* Data gathered on July 1, 2024

Unison, he pioneer of equity sharing agreements, today announced the launch of the Unison Equity Sharing Home Loan, which enables homeowners to receive cash today at below-market rates.

Unison Launches Innovative Equity Sharing Home Loan to Convert Home Equity Into Cash

NEW YORK, NY and SAN FRANCISCO, CA – September 17, 2024/<a href="https://www.carlyle.com/media-room/news-release-archive/carlyle-enters-strategic-partnership-unison-purchase-300-million">Carlyle</a>/ –- <a href="https://www.carlyle.com/media-room/news-release-archive/carlyle-enters-strategic-partnership-unison-purchase-300-million">Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to purchase up to $300 million of equity sharing home loans from Unison, the pioneer of equity sharing agreements.</a> In addition, Carlyle made a strategic investment into Unison. This partnership will enable Unison to launch the Unison Equity Sharing Home Loan product and allow homeowners to access their growing pool of home equity as homes continue to appreciate. 

U.S. homeowners have almost <a href="https://finance.yahoo.com/news/home-equity-investments-become-emerging-041014938.html">$32 trillion</a> in home equity, but many are not refinancing their current low-interest first mortgages, which results in their biggest asset being inaccessible as homes continue to appreciate. 

Unison's newly launched <a href="https://www.unison.com/homeloan/">Unison Equity Sharing Home Loan</a> seeks to combine the benefits of home loans and home equity sharing agreements into a unique mortgage solution that allows homeowners to manage personal financial goals by converting home equity into cash with low monthly payments. This product offers homeowners a fixed below-market interest rate for accessing a portion of their home equity, while also allowing them to make use of the appreciation potential of their home. 

“Our collaboration with Carlyle enables the Unison Equity Sharing Home Loan to turn dormant home equity into an active tool for financial empowerment for millions of Americans,” said Thomas Sponholtz, founder and CEO of Unison. 

Matthew O’Hara, Chief Investment Officer at Unison added that “we aim to provide homeowners with the financial stability and flexibility lacking in traditional loan products and this partnership creates a win-win situation for both homeowners and Carlyle as an investment partner.” 

"We are excited to partner with Unison to provide an attractive solution for homeowners to access their appreciating home equity,” said Akhil Bansal, Head of Credit Strategic Solutions at Carlyle. "Unison is a leader in equity sharing agreements and we’re confident our expertise in asset-backed finance can help increase origination and awareness for this new capital solution for homeowners." 

This transaction was led by Carlyle’s Credit Strategic Solutions (“CSS”), a group within the Global Credit business focused on private fixed income and asset-backed investments. The highly experienced team leverages the knowledge, sourcing, structuring, and breadth of the entire Carlyle investment platform to deliver tailored asset-focused financing solutions to businesses, specialty finance companies, banks, asset managers, and other originators and owners of diversified pools of assets. CSS has deployed nearly $5 billion since 2021 and has roughly $7 billion in assets under management as of June 30th, 2024. 

 
About Carlyle 

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at <a href="https://www.carlyle.com/">www.carlyle.com</a>. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group. 

About Unison 
Based in San Francisco and Omaha, Unison is pioneering a smarter, better way to own your home. Until now, the only way to harvest hard-earned equity was by selling your home, or taking on enormous additional debt. Through Unison equity sharing agreements and equity sharing home loans, we help homeowners access their equity in a new and innovative way with low or no monthly payments. We are an investment management company with over $1.8 billion in assets under management, and we furnish investors with the opportunity to access the returns associated with home price appreciation, minus the overhead of home ownership. Our equity sharing agreements have empowered 12,000 households to pursue financial wellness, and we’re proud to continue to enhance home affordability, reduce debt, and deliver a less risky way for homeowners, investors, and society to think about that important asset - the home. For additional information, visit <a href="https://www.unison.com/">www.unison.com</a> and <a href="https://www.unisonim.com/">www.unisonim.com.</a>

 

Media Contacts 

Kristen Ashton 
Phone: +1 212-813-4763 
<a href="mailto:kristen.ashton@carlyle.com">kristen.ashton@carlyle.com</a> 
Carlyle 
 
Gary Bird 
FortyThree, Inc. 
Phone: + 1 831-888-9011 
<a href="mailto:unison@43pr.com">unison@43pr.com</a> 
Unison 
 

The original joint press release can be seen <a href="https://www.carlyle.com/media-room/news-release-archive/carlyle-enters-strategic-partnership-unison-purchase-300-million">here.</a> 

Photo via <a href="https://www.linkedin.com/posts/the-carlyle-group_homeloans-activity-7241780434865389568-kp3h?utm_source=share&utm_medium=member_desktop">Carlyle</a>.

Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to purchase up to $300 million of equity sharing home loans from Unison, the pioneer of equity sharing agreements. 

Carlyle Enters into Strategic Partnership with Unison to Purchase $300 Million of Equity Sharing Home Loans

SAN FRANCISCO--(BUSINESS WIRE)--Unison, the pioneer of equity sharing agreements, closed a securitization of $215 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 second of Unison’s to take place after DBRS Morningstar <a href="https://www.dbrsmorningstar.com/research/417278">finalized their ratings criteria</a> for the burgeoning asset class in 2023. 

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

Unison’s equity sharing agreements help homeowners who otherwise struggle to harvest their trapped equity, as the longtime available solutions require them to take on enormous additional debt. This transaction further enables Unison to empower homeowners to renovate their homes, save for retirement, and consolidate their debt, rather than drastically exacerbating it. Unison is proud to provide this innovative alternative both for homeowners in need and investors pursuing efficient and scalable investment opportunities into one of the largest asset classes in the world: owner-occupied residential real estate. 

The transaction closed June 5, 2024 and included Nomura as structuring agent and bookrunner. Mayer Brown LLP served as the legal counsel of the issuer, and Morgan, Lewis & Bockius LLP served as the legal counsel of the initial purchaser. 

As Unison’s second rated securitization after DBRS Morningstar finalized the ratings criteria for the HEI asset class, we believe the transaction is a significant step forward in validating HEI as a mainstream asset for institutional and other investors. As the pioneer of the equity sharing agreement, Unison is excited to continue to innovate on behalf of both homeowners and investors who seek additional options to suit their needs. 

Unison’s Chief Investment Officer Matthew O’Hara describes the securitization as “good news for homeowners and investors alike," as continued confirmation of HEI as a reliable and gainful asset "will ensure their availability to those seeking scalable investment opportunities into owner-occupied residential real estate, as well as those who could most benefit from an innovative financing alternative." 

As a market leader, Unison Investment Management, LLC (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.

The securitization is Unison’s second under DBRS Morningstar’s ratings criteria for the U.S. Home Equity Investments asset class

Unison Announces DBRS Rated Securitization of $215 Million of Unison Home Equity Sharing Agreements

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 <a href="https://pr.report/D6flLdGY">finalized their ratings criteria</a> 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.

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

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

SAN FRANCISCO, November 14, 2023 (Newswire.com) - Unison founder and CEO, Thomas Sponholtz, has been recognized as one of Inman’s “2023 Best of Proptech,” which recognizes achievements of leaders changing the residential landscape. The full class of honorees were announced on Inman’s website on Wednesday, November 8. 

Sponholtz founded Unison upon observation of two problems: first, homeowners who wished to tap into their rapidly increasing home equity were forced to use products that only added to their debt with monthly payments and interest; investors, meanwhile, were struggling to obtain efficient, diversified access to the lucrative residential real estate asset class. His solution: the equity sharing agreement. 

A Unison equity sharing agreement enables homeowners to convert up to 15% of their equity into cash in exchange for a percentage of the home’s future change in value. With no interest or monthly payments, Unison does not add to a homeowner’s debt; instead, the agreement is the vehicle for financial agency. Homeowners can use the funds however they’d like: to start a small business, diversify their portfolio, renovate their home, or plan for retirement. With access to Unison’s Home Partnership Team, partnering homeowners have the resources they need to navigate their respective roads to financial wellbeing. 

Sponholtz responded to the award, “I am honored to be selected for Inman’s Best of Proptech Award for 2023. I built this company to empower homeowners to achieve their dreams without languishing in the shadow of debt, and look forward to more investors embracing the opportunities presented by owner-occupied real estate as a new asset category.”

As Inman expands its awards program recognizing the achievements of trailblazers throughout the real estate community, Sponholtz is selected as a winner in “Alternative Finance.”

Unison CEO Thomas Sponholtz Announced as One of Inman’s '2023 Best of Proptech'

SAN FRANCISCO--(<a href="https://www.newswire.com/news/unison-announces-securitization-of-165-million-equity-sharing-22119974">BUSINESS WIRE</a>)--<a href="https://unison.com">Unison</a>, the pioneer of equity sharing agreements, closed a securitization of $165 million of assets, supporting such agreements nationwide and increasing access to institutional investors who want to participate in the novel, lucrative sector of the U.S. Home Equity Investments (HEI) asset class. This transaction, arriving on the heels of a turbulent market, reflects growing confidence in equity sharing agreements as a reliable, gainful asset. 
After a previous short-term decline, home prices have leveled off and sprung to life. Over the last three months, annualized HPA totaled 17.2%—triple the historical average. However, homeowners struggle to unlock trapped equity, as traditional solutions require them to take on additional debt. This transaction increases liquidity for homeowners seeking to consolidate their debt, renovate their homes, save for retirement, and practice financial wellness. Unison proudly offers this innovative option 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 June 9, 2023 and included Barclays and Performance Trust as the structuring agent and bookrunner, respectively. Mayer Brown, LLP served as the legal representative of the issuer, and Hunton Andrews Kirth, LLP as the legal representative of the initial purchasers.
Coupled with the news that DBRS Morningstar finalized the ratings criteria for the HEI asset class, the transaction further validates HEI as a mainstream asset for institutional and other investors. During the COVID era, the market became uncertain, even precarious; though it has been on the upswing since the pandemic’s peak, it remains shy of confident stability. This transaction demonstrates that Unison, who pioneered the equity sharing agreement and institutionalized the HEI asset class, is at the forefront of its formalization and recognition of its durability. 
“The fact that we are able to securitize in this environment speaks volumes to the validity of our asset class,” adds Unison Chief Investment Officer Matt O’Hara. “We look forward to the upcoming rating from DBRS Morningstar, which further confirms the potency and potential of home equity investments on a larger scale.” 
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. Investing in homes since 2006, UIM currently manages $1.69B in residential equity agreements, and has a 10+ year track record of 17.0% annualized net returns since 2010. Their portfolios provide low volatility and high risk-adjusted net returns relative to other major asset classes.

DBRS Morningstar’s finalized ratings criteria for the U.S. Home Equity Investments asset class and increased investor demand for access to owner-occupied residential real estate reflects confidence in Equity Sharing Agreements as reliable and gainful. 

Unison Announces Securitization of $165 Million Unison Home Equity Agreements

SAN FRANCISCO, September 5, 2023 (<a href="https://www.newswire.com/news/unison-investment-management-announces-sandra-taube-godard-former-22120032">Newswire</a>) - Today, <a href="https://unisonim.com">Unison</a>, an equity-sharing firm with approximately $1.69 billion in assets under management, announced that Sandra Taube Godard has joined the organization as its Managing Director for the Investment Management team in Canada. In this newly created role, Ms. Taube Godard will be responsible for bolstering the firm's investment strategy and client relationships across Canadian markets.
 
Ms. Taube Godard brings over 30 years of experience in private capital investing. Before joining Unison Investment Management, LLC (UIM), Ms. Taube Godard was Co-Head of Wells Fargo Securities Canada Ltd., responsible for commercializing the firm's Private Credit, Equity, and Real Estate capabilities. Prior to Wells Fargo Securities, Ms. Taube Godard was a Managing Director at UBS and was responsible for building the Alternate Capital Solutions initiative within the Investment Bank, delivering unique investment opportunities to private capital investors. Throughout her career, Ms. Taube Godard has taken the lead on working with longer-horizon investors, including Canadian public pensions, insurance companies, sovereign wealth funds, and select family offices. 
 
"Sandra's exceptional background and pragmatic leadership are what we need as we continue to expand Unison's global footprint. She understands investors' strategic needs, and we look forward to working with her to further our investment capabilities and capital-raising endeavors while continuing to serve our clients in the most efficient way possible," said Matt O'Hara, Chief Investment Officer.

Ms. Taube Godard Brings 30 years of Expertise Working with Large Institutional Investors. Ms. Taube Godard Will Oversee Unison's Strategic Initiatives and Client Partnerships Across All Canadian Markets.

Unison Investment Management Announces Sandra Taube Godard, Former Wells Fargo and UBS Executive, as Managing Director for Investment Strategy in Canada

SAN FRANCISCO — May 3, 2023 — Unison founder and CEO, Thomas Sponholtz, has been recognized as one of Inman’s “2023 Best of Finance,” which seeks to honor the “best and brightest” in the combined mortgage and finance industries. The full class of honorees were announced on Inman’s website on Monday, May 1.

 Sponholtz founded Unison upon observing two different conundrums. On the one hand, homeowners who wished to tap into their growing mountains of home equity were forced to utilize options that only added to their debt with monthly payments and interest. Investors, on the other hand, were struggling to obtain efficient, diversified access to the lucrative residential real estate asset class. His solution: the equity sharing agreement. 

 A Unison equity sharing agreement enables homeowners to convert up to 17.5% of their equity into cash in exchange for a percentage of the home’s future change in value. With no interest or monthly payments, Unison does not add to a homeowner’s debt; instead, the agreement opens the door to a panoply of possibilities. Homeowners can use the funds however they’d like: to renovate their home, start a small business, diversify their portfolio, or bolster their retirement planning. With access to Unison’s Home Partnership Team, partnering homeowners have the resources they need to navigate their unique roads to financial wellbeing. 

 Regarding Sponholtz’s inclusion on the inaugural list, Inman noted, “You’ve distinguished yourself by your sizable impact on the residential lending industry. Leaders like you are reshaping the mortgage space for professionals and consumers alike."

 Sponholtz thanked Inman for the recognition, adding, “I built this company to help homeowners achieve their dreams without incurring more debt, and hope more investors embrace the opportunities presented by owner-occupied real estate as a new asset category.”

 About Unison:
Unison is a San Francisco and Omaha-based company that pioneers a smarter, better way to own your home. Until now, the only way to finance a home was by taking on debt. Through residential equity sharing 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 operates in 30 states and territories, including Washington, D.C., and has helped over 10,000 households, with a combined home value of more than $8 billion. More information at <a href="https//www.unison.com">www.unison.com</a>

Inman’s editorial team has crafted an inaugural list of the best and brightest in the mortgage and finance space;  Unison founder and CEO Thomas Sponholtz is among those honored.

Unison CEO Thomas Sponholtz announced as one of Inman’s “2023 Best of Finance”

The company finishes banner year of growth with largest securitization of its kind.

 

 <li>Residential equity agreement (REA) securitization creates an unprecedented opportunity for institutional investors to participate in the residential equity market.</li> 
 <li>The securitization is intended to drive favorable financial benefits for consumers including increased efficiency and better leverage in the markets.</li>
 <li>Expands C-suite with two seasoned executives.</li>

 
SAN FRANCISCO, February 07, 2022 (<a href="https://www.businesswire.com/portal/site/home/" target="_blank">BUSINESS WIRE</a>) -- <a href="https://www.unison.com/">Unison</a>, the leader in residential equity agreements (REAs), has closed a $443 million securitization, which supports residential equity agreements across the country and gives more access to institutional investors who want to participate in the sector. This milestone transaction is the largest securitization of REAs to date, rounding out a historical year of growth for the fintech company.

Home prices have been increasing rapidly over the past year, creating a record $25 trillion of wealth locked in the U.S. housing market according to the <a href="https://fred.stlouisfed.org/series/OEHRENWBSHNO" target="_blank">Federal Reserve of St Louis.</a><a href="#ftn1">[1]</a> Unlocking trapped equity, however, has gotten harder as banks have tightened lending standards and traditional home equity solutions require a homeowner to take on additional debt and monthly payments. This transaction offers the opportunity for investors to access residential real estate equity and increases liquidity for homeowners across the country looking to monetize the equity in one of their most valuable assets—their homes.

 This transaction closed December 22, 2021 and included Nomura Securities International, Inc. as the structuring agent and joint bookrunner with participation from Barclays Capital Inc. as joint bookrunner. Mayer Brown, LLP served as the legal representative of the issuer, and Sidley Austin, LLP served as the legal representative of the initial purchasers.

 "The Unison securitization allows a wider range of investors to participate in the space of residential equity agreements," said Matthew O’Hara, Head of Portfolio Management & Research, Unison Investment Management. "It also increases the efficiency of the market, which should lead to wider adoption amongst homeowners, ultimately leading to a larger, more liquid marketplace that benefits homeowners and investors alike."

 "We are doing something truly innovative in a market that is ripe for change," Unison founder and CEO Thomas Sponholtz said. "This securitization adds a new component to our investment management arm and adds an important source of capital to fund consumer REAs across the country; we have the opportunity to utilize this funding mechanism to help our current and future consumers harness the power of the equity in their homes. I’m proud of the work the Unison Investment Management team has accomplished, and this is another important milestone that is helping to make residential equity more accessible for both consumers and investors seeking exposure to the market."

 As a part of its growth, Unison has also <a href="https://www.unison.com/press/unison_president_cfo/">added new talent</a> to its executive team, naming PayPal/eBay veteran Ryan Downs as President, Silicon Valley Bank growth expert Scott Case as Chief Financial Officer and Wells Fargo Securities Joe Celentano as Global Head of Markets. 

 Unison Investment Management (UIM) delivers efficient and scalable investment opportunities into the largest asset class in the world: owner-occupied residential real estate. Unison Investment Management has been investing in homes since 2006, currently manages $1.3B in residential equity agreements, and has a 10+ year track record of 16.3% annualized net returns since 2010. Unison Investment Management’s portfolios provide low volatility and high risk-adjusted net returns relative to other major asset classes.

 
About Unison

 Unison is a San Francisco-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 their most important asset - the home. For additional information, visit <a href="https://www.unison.com/"> www.unison.com</a> or follow us on <a href="https://www.facebook.com/MyUnison/" target="_blank"> Facebook</a>, <a href="https://www.instagram.com/myunison/" target="_blank">Instagram</a>, <a href="https://twitter.com/Unison" target="_blank">Twitter</a>, and <a href="https://www.youtube.com/channel/UCCmPJzvS6KCqcg9GYI8PYUA" target="_blank">YouTube</a>.

 

<div id="footnotes">
 [1]
Board of Governors of the Federal Reserve System (US), Households; Owners' Equity in Real Estate, Level [OEHRENWBSHNO], retrieved from FRED, Federal Reserve Bank of St. Louis;<a href="https://fred.stlouisfed.org/series/OEHRENWBSHNO" target="_blank"> https://fred.stlouisfed.org/series/OEHRENWBSHNO</a>, January 13, 2022.</a>
 
 
</div>

 <a href="https://www.businesswire.com/news/home/20220207005168/en/" target="_blank">View source version on businesswire.com</a> 

 
Press Contact
 <a href="mailto:mediadesk@unison.com">mediadesk@unison.com</a>

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The company finishes banner year of growth with largest securitization of its kind.

Unison Announces Securitization of $443 Million Unison Residential Equity Agreements

Unison | Securitization

<img src="https://s3-us-west-2.amazonaws.com/contentimages.o-prod.unison.com/images/blog/unison-2020-jobs-report.jpg">
<h3>Read the full Unison: Resilient and Vulnerable Cities <a href="https://contentimages.o-prod.unison.com/images/im/downloads/Resilient-and-Vulnerable-Cities.pdf" target="_blank">report</a>.</h3> 

SAN FRANCISCO — June 16, 2020 — New research published today by home co-investing company Unison proposes a new way of understanding the economic impact of the pandemic and the long-term effect it will have on home prices in select U.S. cities. 
 
“Resilient” industrial sectors where businesses have been able to maintain productivity during the pandemic and adapt to the market environment (such as financial services and information technology) have enjoyed a higher level of job stability, while “vulnerable” industrial sectors like retail, manufacturing and hospitality have experienced much more severe levels of job loss. Based on historical analysis, cities with high concentrations of vulnerable job sectors will experience slower recoveries in housing prices, according to Unison’s report. 
 
“Historically, cities with high concentrations of jobs in resilient industrial sectors experience the quickest recovery in housing prices,” said Unison VP of Research Brodie Gay. “Furthermore, as a result of shelter in place ordinances, the home has become a center for commercial and retail activity. Working and shopping from home are the new norm. Real estate capital is beginning a secular rotation out of undiversified retail and commercial spaces like malls and large office buildings. Investing in diversified residential real estate, with a tilt towards resilient cities, will provide institutional investors better, more balanced exposure to the U.S. economy.”
 
The report shows that based on previous recessions, increases in unemployment generally correlate with drops in home prices, and the two factors are geographically linked. For example, during the Global Financial Crisis of 2007-08, Las Vegas, NV experienced a 10% rise in unemployment rate alongside a 62% drop in housing prices, whereas Dallas, TX’s numbers were far less severe with a 4% increase in the unemployment rate and a 10% drop in housing prices. Cities that have high proportions of jobs in vulnerable sectors have also seen huge unemployment spikes during COVID-19, meaning Las Vegas and other cities like it will likely experience similar drops in housing prices again. Furthermore, cities that depend on these at-risk industries will likely experience slower job recoveries and more challenging housing markets.

 
Unison’s research ranked the 20 top cities from the S&P CoreLogic Case-Shiller 20-City Index in order of anticipated resiliency (from most resilient to least resilient): Boston, Washington D.C., New York, San Francisco, Atlanta, Minneapolis, Chicago, Cleveland, Tampa, Charlotte, Denver, Dallas, Phoenix, Los Angeles, Seattle, Portland, San Diego, Detroit, Miami and Las Vegas.

<h3>Select vulnerable cities outlined in Unison’s report include:</h3> 
 Las Vegas - With the highest concentration of construction (7.7%) and leisure & hospitality (31.8%) jobs, Las Vegas leads in at-risk sector employment share (62.6%) and is likely to see the weakest home price performance.
 Miami — Miami’s heavy concentration of leisure, hospitality, and retail jobs makes it vulnerable to shocks in discretionary spending. Partially offsetting the grim tourism outlook is the potential rebound in local commercial activities, as Florida is among the states most eager to reopen its economy. 
 Detroit — Detroit has the highest concentration (14.3%) of manufacturing jobs among the 20 metro areas explored. Synonymous with Motown, “Big-3” automakers Ford, General Motors, and Fiat Chrysler sit atop Detroit’s list of employers. 
 San Diego — San Diego is second in concentration of jobs in the leisure and hospitality industry (16.2%), behind only Las Vegas. It also has the third highest concentration of manufacturing jobs, behind Detroit and Cleveland, and is third in construction share, behind Phoenix and Las Vegas.

<h3>Select resilient cities outlined in Unison’s report include:</h3>
 Boston — Boston lists numerous prestigious universities and hospitals among its top employers, as well as some of the largest insurance and investment management companies in the world. 
 Washington D.C. — Government agencies make up close to a quarter of jobs in Washington, D.C., with more government-related jobs in law, defense contractor, non-profit organizations anchoring the employment landscape. 
 San Francisco — At first glance, San Francisco appears to be a one trick pony, since a big portion of the jobs look like “tech” jobs. Lost in the high-tech fanfare is the fact that San Francisco is the second largest financial center in the U.S. and home to firms like Wells Fargo, Visa, SoFi, and Square.
 New York — Despite its status as a major tourist destination, only 12% of New York City private sector workers are employed in the hospitality sector. New York’s economy is anchored by its world-leading financial services sector. Following close behind are robust education and healthcare systems, that actually make up more than a quarter of private sector jobs in the city. 

“Job resilience is one of the key drivers of housing demand in both the short and long-term,” said Unison CEO Thomas Sponholtz. “The owner-occupied residential real estate portfolios we construct for institutional investors are geographically diversified across markets with a limited supply of new housing units and strong demand due to high concentrations of jobs in resilient industry sectors.” 



<h3>About Unison Investment Management</h3>
Unison Investment Management is the market leader and pioneer in home co-investing, with $817 million in assets under management. Over the last 14 years we have invested in more than 7,500 homes at the equity level across metropolitan and suburban areas that have strong housing demand and limited housing supply. Unison provides institutional investors efficient, diversified access to the world’s largest asset class - owner-occupied residential real estate - while providing low correlation to traditional asset classes. We also enhance home affordability, enable retirement, reduce debt, and deliver a smarter and safer allocation of housing exposure for homeowners and investors. For additional information, visit <a href="https://www.unisonim.com" target="_blank">Unison Investment Management</a>.

<h3>About Unison</h3>
Unison is a San Francisco-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 home co-investments, 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 their most important asset - the home. For additional information, visit <a href="https://www.unison.com" target="_blank">Unison</a> or follow us on <a href="https://www.facebook.com/MyUnison/" target="_blank">FaceBook</a>, <a href="https://www.unison.com" target="_blank">Unison</a> or follow us on <a href="https://www.instagram.com/myunison/" target="_blank">Instagram</a>, <a href="https://www.linkedin.com/company/17894811/admin/" target="_blank">LinkedIn</a>, <a href="https://twitter.com/Unison" target="_blank">Twitter</a> and <a href="https://www.youtube.com/channel/UCCmPJzvS6KCqcg9GYI8PYUA">YouTube.</a>
 

<h3>Press Contact</h3>
 <a href="mailto:mediadesk@unison.com">mediadesk@unison.com</a>

New research published today by home co-investing company Unison proposes a new way of understanding the economic impact of the pandemic and the long-term effect it will have on home prices in select U.S. cities.

“Job Resilience” Can Predict Home Price Recovery, New Unison Research Says

Unison | Resilient & Vulnerable Cities

<img src="https://contentimages.o-prod.unison.com/images/im/insights/Unison_Forbes_Logo.png">

Unison is proud to share our inclusion on the 2020 Forbes Fintech 50 list, highlighting our leadership in the home co-investment space! 

 This is Forbes’ fifth annual Fintech 50 list, a ranking of the world’s most innovative financial technology companies that are disrupting the way people spend, invest and save. 

 At Unison, we are thrilled to have our hard work recognized and honored to stand alongside other highly valued companies who are driving innovative change. 

 2019 has been one of immense growth for us that only helped further demonstrate the need for home co-investment. 

<h3>Highlights include:</h3>
<ul>
 <li>Expansion into 8 new states: We opened our programs to customers in Indiana, Kansas, Kentucky, New Mexico, South Carolina, Tennessee, Utah and Wisconsin, bringing our total footprint to 30 states plus Washington DC.</li>
 
<li>Unison has partnered with over 7,500 customers, allowing many to purchase their dream homes or access their home equity in a smarter, better way.</li>

<li>We have invested in homes worth $5 billion across America, opening up the asset class of residential real estate to investors in an even bigger way than ever before.</li>
</ul>

 We look forward to an even better 2020 with a renewed commitment to our mission of enabling optimal homeownership and remaining a trusted partner for customers and partners.

Forbes released its fifth annual Fintech 50 list, a definitive ranking of the world’s most innovative financial technology companies that are changing the way people save, spend and invest. 

Unison | Forbes Fintech 50

Terrance Odean is the Rudd Family Foundation professor of finance at the Haas School of Business at the University of California, Berkeley. Odean had initially been interested in psychology, but was drawn to pursuing a Ph.D. in finance after learning that the dominant theories in finance are based on the assumption that people are hyperrational when it comes to money. That fascinated him because it’s simply not true: People have systematic biases, which makes it possible to predict the type of mistakes they'll make and when they’ll make them. 

Odean’s research into cognitive bias can help others recognize when they’re going to make financial mistakes and if those mistakes are inevitable or if they can be overcome. Here are his suggestions on how best to optimize your financial mindset:
<h3>Automate away bias</h3>
People’s tendencies are to hold on to losing investments and sell winners (known as the “disposition effect” in behavioral finance). From a tax point of view, that's suboptimal, and in many respects it doesn't work out well for people. Professionals, however, will introduce automation to remove choice from the equation. That automation might have a rule to sell a position that’s dropped 10%, which eliminates any deliberation about whether to hold or sell. 
Automation takes the choice out of what to do with money, and that means not giving yourself the option of making a financial mistake.


<h3>Recognize different types of bias</h3> 
Odean recounts the story of a brother and sister in his neighborhood who inherited their father’s house and wanted to sell it. A real estate agent told them the home was worth $400,000, so when Odean offered to buy the house for $300,000, the brother and sister told him they couldn’t take that much of a loss.

<a href="https://en.wikipedia.org/wiki/Survivorship_bias" target="_blank">Survivorship bias</a> —the mistake of ignoring failures — is another example that hits homeowners. In rapidly escalating housing markets, the tendency is to regret not buying sooner. While San Francisco homeowners may say, “I wish I’d bought a home 20 or 30 years ago,” that’s not the rule across the entire U.S. 

Homebuyers tend to think that the recent past predicts the future. But real estate, like other investments, goes both ways.

It’s important for homebuyers to realize they’re taking a financial risk, even if they are currently in a strong housing market. It’s one thing to be optimistic, but another thing to fall into “that could never happen to me” thinking.

The bottom line is that a home is as risky as an equity index.

<h3>Look at the long term</h3>

Even though homes are riskier investments than most realize, they’re also long-term investments. Be aware of the risk going in, but don’t get obsessed with looking at the variations in value. Odean tells his students to buy a well-diversified portfolio of low-cost mutual funds or index funds and don't follow it every day. In fact, he only looks at his portfolio once every year. 
 
Be aware of the risk, but don’t obsess about small movements in long-term investments.
 
<h3>Alleviate the risk</h3>

Odean recommends alleviating financial risk whenever possible, and that involves diversification. Instead of investing all of your money in the down payment for a home (which, as previously discussed, is a risky investment), utilizing a co-investment solution allows homeowners to invest some of their money in the home and divert the rest to other investments such as stocks or bonds. 
 
When it comes to buying a home, Odean advises homebuyers to see what their price range is, not based on what they want but what they can afford. Then, be sure to only look at homes within your price range. Next, get at least four quotes on a mortgage — make sure that you're comparing mortgages with all of the same fees and features — and find the best possible interest rate. 

<h3>Watch the interview</h3>

<iframe width="640" height="360" style="width:100%; height:calc(100vw/1.77777778);" src="https://www.youtube.com/embed/DWc1WMUdZoE" frameborder="0" allow="accelerometer; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>



 Dive deeper into Terrance Odean’s research on cognitive bias and learn more about mitigating the risk of homebuying by viewing the video here:

 Informational Purposes only: The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained int his blog post constitutes a solicitation, recommendation, endorsement, or offer by Unison or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

VP of Research at Unison Brodie Gay sat down with Terrance Odean, the Rudd Family Foundation professor of finance at the Haas School of Business at the University of California, Berkeley, to discuss biases which influence and impact home buyer decisions.

A Berkeley Behavioral Economist’s Advice for Homebuyers

Unison | Predictable Mistakes HomeOwners Make

SAN FRANCISCO — November 18, 2019 — Unison, North America’s leading home co-investment partner, released its 2019 Responsible Investing Report last week, developing a framework to measure its investments made in 2018 against its ESG goals and policy.
 
The report outlines progress on sustainability goals and develops metrics to measure progress on these goals. Notably, the company reports that homeowners paid off $55M in other debts thanks to investments by Unison in 2018.
 
“This is why equity financing should have always been available to homeowners, as it has been for other asset classes,” said Thomas Sponholtz, CEO of Unison. “A combination of debt and equity enables homeowners to get back in control of their finances,” he said. The report notes that median FICO scores for Unison’s 2018 HomeOwner customers increased by 18 points on a sustained basis over a 3 to 6 month period. 
 
Due to lack of standardization in ESG reporting for its space, Unison leveraged research to develop metrics it believes are applicable for this industry. For example, one of the most significant factors in determining the environmental impacts of real estate is location, with urban housing reducing the fragmentation and development of greenfield areas. Accordingly, Unison cited the fact that its company made 100% of its investments in urban areas in 2018, discouraging suburban sprawl and its profound effects on environmental sustainability.
 
In addition, the report shows that 13% of Unison’s 2018 investments utilized a renewable energy source, compared with just 2.7% of US housing on which solar panels have been installed. Per the report, buyers in the US are willing to pay $15,000 more on average for homes with an average-size solar array. 
 
The reporting developed for Unison investors shows the company’s aim to take a leadership role in transparency and responsibility within its industry, while acknowledging current limitations of these initiatives. “In the development of Unison's ESG reporting we recognize the infancy of sustainability as a finance subject matter,” Unison reports. “We look forward to continuing to analyze, assess, and improve upon our sustainability measures over time.”
 
The report can be found here: <a href="https://im-static-assets.s3-us-west-2.amazonaws.com/esg/19UNIM-100221_ESG+Report_R1v10.pdf?utm_content" target="_blank">Corporate Responsibility Report</a>

First corporate responsibility report establishes clear path to impact and sets measurable sustainability metrics, demonstrating the company’s commitment to social and environmental responsibility

Unison Releases Inaugural Responsible Investing Report

SAN FRANCISCO — November 12, 2019 — Unison, North America’s leading residential real estate equity partner, announced that it is now offering the world's first Shariah-compliant home co-investment vehicle for institutional investors.
 
Unison has revolutionized the home financing industry by investing in the equity portion of owner-occupied homes. This has enabled institutional investors to efficiently access a diversified housing portfolio and gain exposure to the largest asset class in the world. At the same time, homeowners are able to gain access to liquidity and financing without increasing their indebtedness.
 
“Unison has transformed the housing industry by introducing a financing option which doesn’t increase debt, doesn’t require interest or monthly payments, and reduces overall risk to homeowners and to society,” said Thomas Sponholtz, CEO of Unison. “Unison’s investment strategy is inherently aligned with Islamic Finance, and we are excited to be able to announce that this alignment has been made official through this certification.”
 
Unison investments uniquely share in the gain or loss in home prices, rather than charging interest on the homeowner. Like the tenets of Islamic Finance, Unison’s investment philosophy has also been based in partnership and profit sharing. These features make Unison a unique form of investment which corresponds with the values of Shariah compliant and socially responsible investing.
 
“Residential real estate is the largest asset class in the world, and a powerful inflation hedge. Yet, broad exposure to the asset class has been cost prohibitive for investors, until now,” Sponholtz said. “Institutional investors and investors seeking ethical and Shariah-compliant investments can now gain efficient access to this asset class.” 
 
Unison’s residential real estate investment program was Shariah-certified by the Islamic Finance Advisory Board, a non-profit, self-regulatory, voluntary body engaged in the promotion of Islamic Finance in Canada.
 
About Unison 
Unison’s mission is to deliver a safer, more efficient, and rational allocation of housing exposure for society. It has pioneered a revolutionary innovation in home financing: offering equity financing for residential real estate to homeowners and homebuyers through its vertically integrated home co-investment platform. This enables institutional investors to diversify their portfolios with new exposure to a foundational asset class while also making a positive impact on some of the world’s largest socio-economic issues such as housing affordability, household debt, and retirement security. Unison is the dominant player in the home co-investment industry, having originated 85% of all co-investments in US homes. It has already helped almost 7,000 homeowners across 1,500+ cities in 30 states. 
Unison Investment Management offers investors scalable, efficient and diversified direct access to residential real estate equity via its open ended REIT.

Certification is a demonstration of commitment to socially responsible investing

Unison Investment Management receives Shariah accreditation for its residential real estate investment program

SAN FRANCISCO — November 7, 2019 — Unison, North America’s leading home co-investment partner, today announced it ranked third in the Bay Area and nineteenth overall nationwide on Deloitte’s Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Unison currently owns 85 percent of the home co-investing market and has had an exceptional year of growth. In February 2019, the company announced 370 percent year-over-year revenue growth, 308 percent year-over-year growth in customer transactions, and $2.42 billion in total value of co-invested U.S. residential real estate ending in Q4 2018. 
 
“Both the housing market and economy have transformed over the past decade, butthe way Americans buy and own homes has not evolved with the times,” said Thomas Sponholtz, CEO of Unison. “Being named to the Deloitte Fast 500 is a great recognition of the work we are doing to bring the American dream back within reach. Unison brings technology and a culture of innovation to an industry ripe for disruption.”
 
In order to scale investments in single family home equity, Unison has pioneered a robust quantitative approach that aligns the modern needs of both consumers and institutional investors. The company’s patented Greenlight technology allows for instantaneous investment decisions based on a data-driven and backtested factor model for forecasting the price, return and volatility of most homes in America. In addition, its proprietary Equity Origination System (EOS) allows for expedited underwriting, approval and funding of deals. 
 
Deloitte’s Technology Fast 500 honors the cutting edge companies transforming the way we do business, combining innovation, entrepreneurship, and fast growth, and disrupting the technology industry.
 
"This year marks the 25th anniversary of Deloitte's Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners," said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. "It's always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in."
 
About Unison 
Unison’s mission is to deliver a safer, more efficient, and rational allocation of housing exposure for society. It has pioneered a revolutionary innovation in home financing: offering equity financing for residential real estate to homeowners and homebuyers through its vertically integrated home co-investment platform. This enables institutional investors to diversify their portfolios with new exposure to a foundational asset class while also making a positive impact on some of the world’s largest socio-economic issues such as housing affordability, household debt, and retirement security. Unison is the dominant player in the home co-investment industry, having originated 85% of all co-investments in US homes. It has already helped almost 7,000 homeowners across 1,500+ cities in 30 states. 
Unison Investment Management offers investors scalable, efficient and diversified direct access to residential real estate equity via its open ended REIT.
 

About Deloitte’s 2019 Technology Fast 500™
 
The Deloitte Technology Fast 500 is one of the most objective rankings for technology, media, telecommunications, life sciences, and energy tech companies. 
 
It was created to recognize the effort and dedication of the fastest-growing technology companies—both public and private—in North America.

Win highlights the growth and adoption of the Unison product

Unison Named to Deloitte’s 2019 Technology Fast 500™, Recognized as One of the Fastest Growing Companies in North America

Unison Named to Deloitte’s 2019 Technology Fast 500

May 30, 2019 — The Canadian Investment Review recently interviewed Rayan Rafay, who oversees Unison’s investment management business, for an article about home co-investing.

<a href="http://www.investmentreview.com/news/a-look-at-co-investing-in-residential-real-estate-9516">Read the full article here.</a>

Notes institutional investors can gain exposure to residential real estate using a co-investment model which provides pure inflation exposure

Canadian Investment Review Features Rayan Rafay

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