JPMorgan Provides $100M Financing Facility for Blockchain Mortgage Platform Figure

The facility covers both conforming and jumbo mortgages – loans in excess of the traditional lending restrictions.

AccessTimeIconJan 15, 2021 at 11:40 a.m. UTC
Updated May 9, 2023 at 3:14 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Blockchain mortgage platform Figure says it has closed a $100 million financing facility for its mortgage products from investment bank JPMorgan.

  • Platform owner Figure Technologies said Wednesday this is the fifth financing facility for its online lending business, which has now closed almost $1.5 billion in total. 
  • Funding partners now include JPMorgan, Jefferies and a number of other Wall Street banks, said the blockchain company.
  • The facility covers both conforming and jumbo mortgages – loans in excess of the traditional lending restrictions.
  • “This facility with JPMorgan will help us continue to innovate in the lending space,” said Mike Cagney, CEO of Figure, in a statement.
  • Figure Technologies reported its mortgage business grew nearly 50% month over month in the fourth quarter of 2020.
  • The firm uses blockchain tech to issue mortgages and loans at greater speed and reduced cost by automating parts of the process.
  • CoinDesk reached out to JPMorgan for comment but did not immediately receive a response.
  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.