Blockchain

Figure Technologies is adding a Bitcoin option to its home equity line of credit, while Milo has done $65 million of crypto mortgages since 2021.

A joint venture with Sixth Street will give Figure more liquidity to scale Figure Connect, a blockchain-based private capital marketplace.

A fintech leader says his blockchain tech could help stakeholders buying and selling loans gain trust in one another.

Lenders including The Loan Store, Movement Mortgage, Bayview Asset Management and Saluda Grade are already using Figure Connect, the company said.

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.

Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.

Figure claims its lien and eNote registry is a "streamlined and markedly efficient alternative to manual assignments and conventional loan tracking databases."

The blockchain fintech has purportedly tapped Goldman Sachs Group Inc., JPMorgan Chase & Co. and Jefferies Financial Group Inc. to help with the initiative, per Bloomberg's reporting.

Mike Cagney, the fintech's CEO, said Tuesday the project came about in reaction to an industry need for a private capital market.

The fintech rolled out a Lending-as-a-Service (LaaS) platform, which gives lenders access to its system. The first mortgage shop to sign up is Guaranteed Rate.