"Tannenbaum said Figure's platform differs from competitors by using blockchain technology to verify loan data and place it on an immutable ledger. That verified data supports a broader marketplace that includes securitization activity and more than 300 lending partners."
"Figure originated nearly $1.2 billion in volume in March, marking the company's largest month on record and representing roughly 100% year-over-year growth."
"Tannenbaum explained that Figure positions itself as an alternative infrastructure provider for lenders, comparing the company's role to that of government-sponsored enterprises Fannie Mae and Freddie Mac."
"The company's blockchain-based registry technology, known as DART, functions similarly to the mortgage industry's existing loan registration systems, automating ownership updates and helping prevent fraud such as double pledging."
Figure's platform leverages blockchain technology to verify loan data on an immutable ledger, enhancing a marketplace with over 300 lending partners. The company achieved nearly $1.2 billion in loan volume in March, reflecting 100% year-over-year growth. Unlike crypto mortgage products that allow the use of cryptocurrency as qualifying assets, Figure offers a systematic solution for lenders. Its Digital Asset Registry Technology automates ownership updates and prevents fraud, positioning Figure as an alternative infrastructure provider akin to Fannie Mae and Freddie Mac.
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