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.
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."
Figure is transforming financial services through blockchain, bringing speed, efficiency and savings to both consumers and institutions. Figure can take loans from application to funding in days, not the weeks-long process offered traditionally. Their products eliminate time-consuming physical property appraisals and inspections, require zero paperwork and offer five star customer service. Currently Figure offers HELOCs and Mortgage Refinancing and plans to continuously expand its portfolio of loan products. Figure originates all of its loans on Provenance. The company was founded by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar business under his leadership as CEO.
About Home Point Financial
Home Point is on a mission to create financially happy, healthy homeowners. The company’s customer-first approach paired with modern technology eliminates the stress of getting a loan and owning a home. Home Point bypasses traditional retail branches and partners exclusively with third-party originators to lower the cost of buying and refinancing a home. Beyond the loan, Home Point empowers customers to get the most value from their investment by offering expert advice and exclusive offers. Home Point is one of the fastest growing mortgage lenders, headquartered in Ann Arbor, MI with 1,700 employees and 250,000 borrower members. For more information visit.homepointfinancial.com
Provenance is the leading blockchain for the financial services industry. Provenance is used by a variety of financial institutions. Hash is the underlying security token on Provenance and provides a means for distribution of economics and governance. Provenance is administered by Provenance Blockchain, Inc. Learn more at www.provenance.io.
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Home Point Financial