Wu said that Figure responded to the short-selling institution's accusations, stating that their loans are represented on the blockchain immediately after disbursement, and all subsequent ownership transfers and pledges are recorded and executed on the blockchain through their platform; some HELOC-related processes still require traditional documents due to regulatory requirements, with on-chain records serving as the actual operational "system ledger," and offline documents mainly used for legal compliance procedures. Regarding risk control and asset quality, Figure stated that their loan borrowers have an average FICO score of about 754, an average income of approximately $187k, and a combined loan-to-value (LTV) of about 62%, and claimed that their loss rate has been around 1% or lower for many years. Figure also mentioned that by March 2026, the platform's total loan sales exceeded $1.15 billion, and in April, the bid-wanted in competition (BWIC) auction spread on their platform hit a new low, denying that institutional funds are withdrawing.