Blockchain Fintech News

Home Point to Offer Digital HELOC Through Figure

Home Point Is the Second Top 25 Mortgage Lender to Begin Originating Digital HELOCs on Provenance

Figure Technologies, Inc. (Figure™), a leader in transforming financial services through the power of blockchain technology, today announced that another of the nation’s top mortgage lenders and servicers, Home Point Financial, is now offering a white-labeled digital HELOC product to customers that is powered by the Figure software as a service (SaaS) platform built on Provenance.

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By originating HELOCs with Figure and Provenance, Home Point Financial can quickly offer an outstanding customer experience while lowering costs, reducing risk, and improving financing execution throughout the loan process.

Home Point Financial is the newest customer licensing Figure SaaS, a best-of-class loan origination system natively integrated into the Provenance blockchain. Figure SaaS offers loan origination platforms for home equity, student loan refinancing, unsecured consumer loans and first lien mortgages. All of these features will be fully integrated into Provenance to deliver origination, servicing, financing and capital market benefits.

“As an institution that focuses on providing innovative approaches to lending, partnering with Figure will enable us to bring a groundbreaking HELOC product to our customers in record time,” said Willie Newman, President and Chief Executive Officer of Home Point Financial. “Our new digital HELOC offering shortens the time frame of loan funding by weeks and offers borrowers the ability to manage the entire loan process online.”

Mike Cagney, CEO of Figure, said, “We’re very pleased to bring a mortgage leader like Home Point Financial onto our third-party Figure SaaS platform. Home Point is one of the world’s leading mortgage lenders and the company has built its business focusing on speed, quality and consistency for its customers and partners. Home Point will now have access to our fast and efficient HELOC loan origination system as well as the benefits and efficiencies of Provenance blockchain.”

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