Figure reduces loan issuance costs by 91% using blockchain platforms, challenging Fannie Mae and Freddie Mac

robot
Abstract generation in progress

Golden Finance reports that on May 6th, blockchain company Figure Technology Solutions (FIGR), led by former SoFi CEO Mike Cagney, plans to challenge Fannie Mae and Freddie Mac in the first-lien mortgage sector.
Figure leverages its blockchain platform to reduce loan issuance costs by 91%, challenging the giants of the U.S. first-lien mortgage market, Fannie Mae and Freddie Mac.
The company offers fast service, with home equity line of credit (HELOC) applications approved within 5 minutes and funds available within 3 days, targeting the $300k and below loan market.
Figure is shifting to a market model, with an expected adjusted EBITDA profit margin of 80-85%, and the company is also negotiating with ConsenSys’s MetaMask for DeFi protocol integration.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin