Figure targets Fannie and Freddie with cheaper mortgage tech
Figure Technology Solutions is moving deeper into the U.S. mortgage market with a plan to challenge Fannie Mae and Freddie Mac in first-lien loans. Summary Figure says blockchain can cut mortgage origination costs from $11,000 to about $1,000 per loan. The firm targets sub-$300,000 loans, where traditional mortgage fees can weigh heavily on borrowers. Figure’s…
