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Mortgage banker Homebridge Financial Services is merging with Figure Technologies just days after the fintech firm closed on a $200 million Series D financing round.
Figure was created by SoFi Technologies founder Mike Cagney after he was
forced out of that company in 2017 over allegations of inappropriate workplace behavior.
Figure uses its
blockchain technology to originate, finance, service and trade loans. It began with
home equity loans in 2018 and now also handles mortgage refinancings, student loan refinancings and personal loans. We are bringing together the most robust, powerful and efficient technology ever seen in lending and pairing that with a $25-billion-a-year loan originator with 150,000 customers we can introduce to new payment and lending products, said Cagney in a press release. We re going to deliver to this all-star loan origination team at Homebridge a tech platform on Provenance Blockchain that is going to double their capacity for ful