Home Equity
Figure Lending now operating under the new umbrella brand, Figure Technology Solutions (FTS).
High interest rates are compressing usage by 55% or $54B.
Deal aims to leverage Spring EQ’s digital processes approach to home equity financing.
Indicates potential in lending area
Allows homeowners to draw funds backed by their home’s collateral.
'Tappable' home equity has grown by $3.4 trillion over the last three years.
Better launches ‘Equity Unlocker’ to help Amazon employees buy homes.
Company provides a cloud-based platform for home equity lending to credit unions and community banks.
Urban Institute report finds home equity lines of credit increased 46.9% from January to May vs. same period last year.
Program offers 10- or 20-year terms with fixed rates.