General World News

Figure Lending lands $100M funding facility

Mike Cagney, SoFi

SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week.

The warehouse facility will allow the company, a subsidiary of Figure Technologies, to originate conventional loans as well as jumbo loans, the company said in a statement Wednesday.

In a statement, Figure said the $100 million loan facility represents another push toward growth in mortgage lending. The company’s mortgage business grew nearly 50% month-over-month in the fourth quarter, and Figure expects further growth in 2021, details ⇒

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