Figure Technologies Inc., a blockchain-powered financial services company, has launched a new wholesale lending platform that allows originators to easily access Figure’s home equity line of credit (HELOC) offering.
Figure has originated over $5 billion of loans directly to consumers and through its private-label partnerships with independent mortgage lenders throughout the nation. Figure’s wholesale model will increase the availability of this lending product to more originators and homeowners.
Says Jackie Frommer, head of lending at Figure: “With Figure’s built-in digital origination process, originators have a faster time to market with less upfront hassle, enabling them to serve more customers and quickly capitalize on the current rate environment.”
Figure’s digital wholesale model provides end-to-end support of the origination process – from broker application, to customer fulfillment, to funding.
Originators will leverage Figure’s online pre-application process to pre-qualify their customers, helping them assess the best option available for their needs. This process then feeds directly into a Figure-supported digital, customer-driven fulfillment system.
Customers of wholesale originators will be able to apply and get approved in as little as five minutes and have access to funds in as little as five days.
Photo by Mackenzie Marco on Unsplash.