Figure Lending News Today

The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.

Founded in 2018, Figure is a new lender that provides home equity lines of credit (HELOCs) in 41 states and the District of Columbia.

Figure Technology Solutions, the parent company of Figure Lending LLC, named Michael Tannenbaum as its new CEO.

The first partner to sign onto the new initiative is Synergy One Lending, according to an announcement from Figure.

Figure Technology Solutions took another step this week to become a public company by filing a key form with the SEC.

Blockchain and lending startup Figure Technologies is reportedly seeking approval from U.S. regulators to issue an interest-bearing stablecoin.

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%.

HELOCs, closed-end second mortgages and shared-equity contracts are flooding the zone as first-lien originations dry up.

The demand for home-equity loans, particularly HELOCs as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. The demand for home-equity loans, particularly HELOCs as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago.

Lender inks partnership with the blockchain company to originate HELOCs on the platform