Figure announces merger with leading mortgage lender Homebridge Financial Services

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SAN FRANCISCO–() – Figure Technologies, Inc. (Figure ™), a leader in blockchain-powered financial services transformation, today announced it has signed a merger agreement with Homebridge Financial Services in a landmark deal that will reshape the country’s mortgage technology landscape.

“We are bringing together the most reliable, powerful and efficient technology we have ever seen in lending, and we are bringing it together with a $ 25 billion a year lender and 150,000 customers we can introduce to new payment and credit products,” said Mike Cagney, co-founder. and CEO Figure. “We’re going to provide this stellar Homebridge lending team with a technical platform on Provenance Blockchain that will double their lending capabilities.”

Over the past 30 years, Homebridge Financial Services has grown to be one of the largest private non-bank lenders in the United States. Homebridge has over 2,500 employees in corporate offices, over 180 retail branches and two wholesale divisions: Homebridge Wholesale and REMN Wholesale. As of the end of 2020, Homebridge has funded over $ 25 billion in mortgages.

“Combining Figure’s technological expertise and customer experience with our exceptional retail lending and wholesales teams nationwide will revolutionize the history of the US mortgage industry. This will bring real benefits and value to our clients and customers, ”said Peter Norden, CEO of Homebridge. “The Homebridge team gains a technical platform partner to help us maximize our customer experience and differentiate us from the competition.”

Figure started lending in 2018 with Home Equity Line of Credit (HELOC) and then expanded to student loan refinancing, mortgage refinancing and personal loans. Provenance has provided, serviced, financed and sold over $ 5 billion in loans and securities.

Hoolihan Loki has served as a financial advisor to Homebridge. Zukerman Gore Brandeis & Crossman, LLP acted as legal advisor to Homebridge. Citi acted as lead financial advisor, JP Morgan Securities LLC also advised Figure, and Davis Polk & Wardwell LLP acted as legal advisor to Figure. Bradley Arant Boult Cummings LLP acted as a licensing advisor to Homebridge and Figure.

About figure

Figure is transforming financial services with blockchain, delivering speed, efficiency, and savings to both consumers and organizations. Figure continues to present a series of fintech innovations in the capital markets, investment management, and banking and payments sectors. Figure uses Provenance Blockchain for lending, servicing, financing, and now serving private foundations. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and turned the company into a multi-billion dollar business 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 include approximately 2,500 employees in corporate offices, over 180 retail branches and two wholesale divisions: Homebridge Wholesale and REMN Wholesale. Homebridge has FNMA, GNMA, FHLMC, FHA and VA approvals and has funded over $ 25 billion in home loans at the end of 2020. More information on Homebridge, an Equal Opportunity Lender, can be found online at www.Homebridge.com

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