New dedicated business focuses on growing proprietary lending solutions, and streamlining capital markets activities across the lending ecosystem

NEW YORK: Figure Lending LLC (“Figure Lending”), the largest non-bank originator of HELOCs1, today announced that it is operating under the new umbrella brand Figure Technology Solutions. Figure Technology Solutions, Inc. (“FTS”), the new parent company of Figure Lending, is focused on continuing to develop and distribute their proprietary technology-enabled platform to lending partners and investors in the lending ecosystem. FTS is designed to create more transparent and efficient loan origination and capital markets through the unique combination of its cutting-edge technology and the growing pool of assets originated on its platform through its partner network.

Launching FTS as a stand-alone company, independent of Figure Technologies, Inc. and the newly created Figure Markets Holdings, Inc., reflects the growth and vision for Figure’s technology-enabled lending platform that has been built to reshape the industry, starting with HELOCs. “By creating a dedicated business, FTS will focus its resources on the continued success of its technology platform, delivering cutting-edge solutions to drive efficiency across the lending ecosystem,” said Mike Cagney, co-founder and CEO of Figure Technology Solutions. “FTS looks forward to delivering technology to its partners, increasing access for borrowers, liquidity for originators, and a more active secondary market for investors across the broader landscape of consumer loans”.

About Figure Technology Solutions

Figure Technology Solutions, Inc. provides a disruptive and scaled technology platform built to enhance efficiency and transparency in financial services. Figure Technology Solutions aims to leverage the loan origination activities of its subsidiary, Figure Lending, and its vast network of loan origination partners to deliver and scale new products. Its platform is designed to create more transparent and efficient capital markets through the unique combination of our cutting-edge technology, and the growing pool of assets originated on its platform. Figure Lending is the largest non-bank originator of home equity lines of credit. With Figure Lending’s HELOC product, consumers can get approved for a loan in as few as 5 minutes, with funding in as little as five days. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, the visionary behind the successful transformation of SoFi into a multi-billion-dollar business during his tenure as CEO. To learn more, please visit www.figure.com.

1 Data accurate as of 2022

Fonte: Business Wire