loanDepot announced Thursday that it has formed a strategic partnership with Figure Technology Solutions to power a new “express-path” home loan product through loanDepot’s mello platform.

Under the agreement, loanDepot will integrate Figure’s proprietary credit and loan underwriting engine into its mello technology stack and point-of-sale system. The integration is designed to allow loanDepot to offer a suite of faster-closing, express-path products, starting with the 5×5 HomeLoan, according to a press release.

The 5×5 HomeLoan is structured to deliver approvals in as little as five minutes and funding in as few as five days. The product can be used to details ⇒

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