Deep Dive: What Does Figure ($FIGR) ACTUALLY Do?

Figure Technologies, a blockchain tech company, aims to revolutionize Wall Street by leveraging blockchain to make financial processes faster and cheaper. While its grand vision is broad, Figure's primary business is currently HELOCs (Home Equity Lines of Credit), constituting 99% of its lending. Figure has gained significant market share due to its speed and cost advantages, funding HELOCs in a median time of 10 days at an average cost of $730 per loan, compared to the industry's 42 days and $11,000 respectively. The company's revenue is divided into Figure-branded loans and partner brand volume, with the Figure Connect Marketplace facilitating loan sales to institutional investors. While Figure's future plans include expanding into other loan types and digital assets, its reliance on HELOCs makes it vulnerable to shifts in interest rates and home valuations.