Фигура on Wednesday launched an AI-powered platform for debt-service-coverage ratio (DSCR) loans, expanding its blockchain-based capital marketplace into one of the fastest-growing segments of housing finance.
A release from the company confirmed that West Capital Кредитование и Axen Mortgage are among Фигура’s first partners to embed its DSCR product.
The platform allows investors to qualify based on property cash flow rather than personal income, which grants them access to flexible capital for инвестиционная недвижимость and reduces both time and costs.
Figure said that its system also allows lenders to reduce the time it takes to process DSCR loans. Traditional DSCR loans usually take 21 to 30 days to close, and banks typically take 45 days or longer, but the new platform claims to make funding available in as few as five days.
The automation also claims to slash origination costs by up to 80% at a time when average industry costs have risen 35% to more than $10,000 per loan.
“This launch shows the power of combining AI automation with blockchain standardization to eliminate the friction that has slowed DSCR lending for years,” said Anthony Stratis, vice president of lending partnerships at Figure.
“Our platform delivers speed, fraud prevention, cost savings, and simplicity at scale — helping brokers grow their business, lenders expand their offerings, and investors continue to realize efficiencies through our blockchain-based capital market.”
For existing partners such as banks, mortgage companies and credit unions, Figure said its platform integrates easily through web and API connections.
Key features of the platform include Figure’s proprietary technology that replaces manual underwriting reviews; AI and optical character recognition (OCR) to automate document reviews; automated valuation models for DSCR refinance loans under $400,000; and proprietary rental income verification models to speed approvals.
“Figure’s DSCR platform is a game-changer for real estate investors and financial institutions alike. By combining AI-powered automation with blockchain transparency, Figure has created a product this market has been waiting for,” said Eric Hines, co-founder of West Capital Lending.
“At West Capital, we back companies that are reshaping financial services with technology, and we’re excited to be among the first partners to bring Figure’s DSCR to market for borrowers who want smarter, faster ways to build wealth through real estate.”
Figure’s launch of a new offering builds upon its momentous year of growth, including its debut on the Nasdaq Global Select Market in September.
Co-founded in 2018 by Mike Cagney, Figure uses блокчейн technology to connect lenders and borrowers across consumer lending, trading and digital asset investments.
The company said it can fund кредиты под залог жилья in as little as 10 days, compared with an industry average of 42 days. Figure and its partners have originated more than $18 billion in home equity loans and other products, making its platform the largest nonbank provider of home equity financing.
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