Blockchain

The two-pronged agreement also will add Figure's mortgage servicing rights onto Sagent's platform.

The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.

Bee Mortgage App will use blockchain and automation provided by Elphi to create "a COVID tool for real estate agents" to get fully digital mortgage approval in under three minutes.

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

Figure Technologies appears to be one of the few companies to find a viable use case for blockchain in the financial industry — cutting down the costs associated with loan origination.

The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations.

Provenance Blockchain, recently spun off from Mike Cagney's Figure Technologies, says it can help lenders trim 70% of mortgage settlement expenses through speedier processing and paperwork reduction.

The Money Source has filed three provisional patent applications as part of its efforts to develop new innovations in mortgage servicing, including the use of blockchain technology.

Figure, the startup headed by Mike Cagney, uses blockchain technology to provide home equity loans in as little as five days. It intends to use the newly raised funds to offer other services, including wealth management.

Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.