Full-Time

Lending Administration

Posted on 8/24/2024

Figure

Figure

201-500 employees

Blockchain-based home equity lending solutions

Fintech
Crypto & Web3

Compensation Overview

$19 - $21Hourly

+ Bonus + Equity

Junior, Mid

Reno, NV, USA

Onsite in office 5 days a week.

Category
Supply Chain Management
Operations & Logistics
Required Skills
Communications
Customer Service
Requirements
  • Experience residential mortgage lending with Post Closing experience preferred
  • Ability to work and thrive in a fast-paced, startup environment with little direction and meet tight deadlines
  • Proven ability to provide professional and concise communications with cross functionally and resolve any issues including suspense conditions within response deadlines
  • Exceptional customer service skills to work with external customers and cross functionally
  • Ability to organize and manage a large pipeline of loans
  • Analytical skills and drive to look for process improvements and ways to digitize and automate processes
  • In depth knowledge of HELOC loans, FNMA, FHLMC, and private investor products
  • Thorough understanding of Federal and State regulations including but not limited to HELOC and Conventional guidelines, RESPA, TILA, HOEPA, and QM.
  • Knowledge of State and County recording requirements and needs
Responsibilities
  • Provide exceptional customer service to both internal and external customers
  • Partner with Customer Operations to ensure a smooth post close mortgage process
  • Operate independently to prioritize work based on investor delivery expiration and closing dates
  • Be process focused and continuously look for opportunities for improvements and efficiencies
  • Review original closing documents to ensure they were properly executed
  • Monitor closing packages and/or check credit packages into proprietary system that were received for shipping
  • Follow up on, review, and/or request corrections on all trailing documents
  • Obtain and submit supporting documentation to clear any recording needs and errors
  • Cure exceptions by contacting Settlement agents, Borrowers, and other third party vendors
  • Register loans with MERS/DART within required turn times and transfer as appropriate on service release loans
  • Monitor, track and process Assignments of Mortgage from our partners.
  • Audit files and reporting according to guidelines and, report out recurring issues and trends to management.
  • Ability to secure a notary license
  • Other Duties as assigned

Figure is a financial technology company that uses blockchain technology to improve financial transactions, specifically in the home equity lending market. It offers products like Home Equity Lines of Credit (HELOCs) and mortgage refinancing, allowing homeowners to access their home equity quickly and efficiently. The application process is fully online, enabling homeowners to receive funds in as little as five days, which is much faster than traditional banks that can take weeks or months. Figure ensures secure and cost-effective transactions through blockchain, and it generates revenue from origination fees and interest on loans, with competitive rates starting at 3.49% APR. Targeting homeowners across various U.S. states, Figure aims to meet the demand for quick access to home equity for purposes like home improvements or debt consolidation.

Company Stage

Series D

Total Funding

$406.6M

Headquarters

San Francisco, California

Founded

2018

Growth & Insights
Headcount

6 month growth

-1%

1 year growth

0%

2 year growth

0%
Simplify Jobs

Simplify's Take

What believers are saying

  • Increased blockchain adoption boosts Figure's secure transaction offerings.
  • Figure Connect taps into the demand for liquid private capital markets.
  • Michael Tannenbaum's appointment as CEO suggests potential for growth.

What critics are saying

  • Recent layoffs may indicate financial instability or restructuring challenges.
  • New piggyback loan product could increase financial risk amid housing affordability issues.
  • Volatile crypto market could impact Figure's blockchain initiatives.

What makes Figure unique

  • Figure uses blockchain to offer fast, secure home equity access in five days.
  • The company provides a fully online application process, unlike traditional banks.
  • Figure's competitive interest rates start as low as 3.49% APR.

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Benefits

Health & wellness - Figure pays 100% of premium costs for employees and dependents for medical, dental, and vision insurance (with the exception of costs associated with the buy-up medical plan.)

Continuing education - Figure will reimburse eligible employees for approved continuing education that either offers growth in an area related to his or her current position or that may lead to promotional opportunities.

Flexible time off - We offer 10 company-wide holidays plus one personal holiday, generous Flexible Time Away (FTA), Paid Time Off (PTO), and Paid Parental Leave.

Bonus & stock options - Figure’s Bonus Plan recognizes and rewards eligible employees’ efforts and contributions. Eligible employees are also granted an option to purchase a set number of shares of Figure’s common stock.

INACTIVE