Figure Heloc

About Figure Heloc

Figure HELOC is a home equity line of credit for eligible homeowners. It allows borrowers to draw on the equity of a primary home. The borrowers can use the money to repair, buy or consolidate debts. The product is a revolving credit, which enables approved users to draw money up to their prescribed credit limit. They are likely to pay interest on the balance due as per their loan agreement. There are lending requirements in borrower and account management. Figure uses the Provenance Blockchain to support parts of its lending pipeline. The system can track origination, repayments, loan sales, and securitization activity. Therefore, blockchain records help share loan data across market participants. Figure Connect supports the primary market for credit assets. It standardizes and tokenizes HELOCs, private credit, and similar debt assets. Figure Markets then supports secondary trading and 24/7 settlement. The venues use decentralized custody and support crypto and fiat access.