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Figure Announces Merger With Top Mortgage Lender Homebridge Financial Services | National Business

SAN FRANCISCO – (BUSINESS WIRE) – Nov. August 2021–

Figure Technologies, Inc. (Figure ™), a leader in transforming financial services through the power of blockchain technology, announced today that it has signed an agreement to merge with Homebridge Financial Services in a landmark deal that will bring together the The technology landscape of the national mortgage industry will reshape.

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“We’re bringing together the most robust, powerful, and efficient technology ever seen in the lending business, and combining that with a lender of $ 25 billion a year with 150,000 customers to introduce new payment and credit products to,” said Mike Cagney, Co-Founder and CEO of Figure. “We’re going to provide this all-star lending team at Homebridge with a technology platform on Provenance Blockchain that will double their loan-settling capacity.”

Over the past 30 years, Homebridge Financial Services has grown to become one of the largest private non-bank lenders in the United States. Homebridge has more than 2,500 employees in its corporate offices, more than 180 retail stores and two wholesale divisions, Homebridge Wholesale and REMN Wholesale. Homebridge funded more than $ 25 billion in home loans at the end of 2020.

“Combining Figure’s technology expertise and consumer experience with our exceptional retail lending and wholesale teams across the country will mark a revolutionary event in US mortgage history. This will bring real benefits and efficiency to our customers and customers, ”said Peter Norden, CEO of Homebridge. “The Homebridge team is gaining a technology platform partner to help us maximize our customer experience and differentiate ourselves from the competition.”

Figure began its loan service in 2018 with Home Equity Lines of Credit (HELOC) and later expanded it to include student loan refinancing, mortgage refinancing, and personal loan refinancing. Over $ 5 billion in loans and securities have been granted, serviced, financed and traded on Provenance.

Houlihan Lokey served as financial advisor to Homebridge. Zukerman Gore Brandeis & Crossman, LLP served Homebridge as legal counsel. Citi acted as chief financial advisor and JP Morgan Securities LLC also advised Figure and Davis Polk & Wardwell LLP acted as legal advisor to Figure. Bradley Arant Boult Cummings LLP served as regulatory licensors for both Homebridge and Figure.

About figure

Figure is transforming financial services through blockchain, bringing speed, efficiency and savings to both consumers and institutions. Figure also presents a number of fintech premieres in the areas of capital markets, asset management, and banking and payments. Figure uses Provenance Blockchain for lending, servicing, financing and now also for private fund services. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and grew the company into a multi-billion dollar company under his leadership as CEO. Learn more about https://www.figure.com/.

About Homebridge

Homebridge Financial Services, Inc. (NMLS # 6521) is one of the largest private non-bank lenders in the United States. Over the past 30 years, Homebridge has grown to around 2,500 employees in its corporate offices, more than 180 retail branches and two wholesale divisions, Homebridge Wholesale and REMN Wholesale. Homebridge has FNMA, GNMA, FHLMC, FHA, and VA approvals and funded more than $ 25 billion in home loans as of the end of 2020. You can find more information about Homebridge, an equal opportunity lender, online at www.Homebridge.com.

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CONTACT: Tina McNulty for figure

[email protected] Richard Donine for Homebridge

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCIAL SOFTWARE INTERNET

SOURCE: Figure Technologies, Inc.

Copyright Business Wire 2021.

PUB: 3/8/2021 3:00 PM / DISC: 3/8/2021 3:02 PM

http://www.businesswire.com/news/home/20210803005925/en

Copyright Business Wire 2021.