Figure reduces loan origination costs by 91% through blockchain platform, challenging Fannie Mae and Freddie Mac
Show original
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
Jinse Finance reported that on May 6, Figure Technology Solutions (FIGR), a blockchain company 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 origination costs by 91%, directly competing with the dominant players in the U.S. first-lien mortgage market, Fannie Mae and Freddie Mac. The company offers a fast-track service, allowing Home Equity Line of Credit (HELOC) applications to be approved within 5 minutes and funds to be disbursed in 3 days, targeting the loan market under $300,000. Figure is pivoting to a marketplace model, expecting an adjusted EBITDA profit margin of 80-85%. Meanwhile, the company is in negotiations with ConsenSys’s MetaMask regarding DeFi protocol integration.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
United Kingdom: Growth pace cools after hot start – Deutsche Bank
FXStreet•2026/09/07 14:15
Dark Defender Shows XRP Remains Bullish for These Top Price Targets
TimesTabloid•2026/09/07 14:03
Japan Yen Intervention Raises Pressure on U.S. Treasuries and Risk Assets
CoinEdition•2026/09/07 14:03
Crypto prices
MoreBitcoin
BTC
$79,155.58
-0.76%
Ethereum
ETH
$2,484.73
-0.14%
Tether USDt
USDT
$0.9999
+0.00%
BNB
BNB
$744.53
-0.48%
XRP
XRP
$1.4
-1.18%
USDC
USDC
$1.0000
+0.00%
Solana
SOL
$104.6
-1.87%
TRON
TRX
$0.3352
+0.08%
Hyperliquid
HYPE
$87.32
-2.14%
Zcash
ZEC
$1,174.16
-0.24%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now