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Full-Time

Lending Administration

Updated on 9/5/2024

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

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 for homeowners. 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 funds to be accessed in as little as five days, which is much faster than traditional banks that can take weeks or months. By utilizing blockchain, Figure enhances the security and cost-effectiveness of transactions. The company generates revenue through origination fees and interest on loans, with competitive rates starting at 3.49% APR. Targeting homeowners in various U.S. states, Figure aims to meet the demand for quick access to home equity for purposes like home improvements or debt consolidation. The goal is to provide a reliable and efficient solution in the home equity lending market.

Company Stage

Series D

Total Funding

$1.9B

Headquarters

San Francisco, California

Founded

2018

Growth & Insights
Headcount

6 month growth

-3%

1 year growth

-4%

2 year growth

-19%
Simplify Jobs

Simplify's Take

What believers are saying

  • The launch of Figure Connect, a blockchain-based private credit marketplace, positions the company as an innovator in capital markets.
  • The appointment of Michael Tannenbaum as CEO brings experienced leadership, potentially driving further growth and innovation.
  • Figure's AI-powered chatbot and DART System streamline the HELOC origination process, enhancing operational efficiency and customer experience.

What critics are saying

  • The volatile nature of the blockchain and crypto markets could impact Figure's operations and customer trust.
  • Competition from traditional banks and other fintech companies may pressure Figure to continuously innovate and reduce costs.

What makes Figure unique

  • Figure leverages blockchain technology to offer faster and more secure home equity lending solutions, setting it apart from traditional financial institutions.
  • The company's fully online application process allows homeowners to access funds within five days, significantly quicker than the industry standard.
  • Figure's competitive interest rates and origination fees make it an attractive option for homeowners looking to tap into their home equity.

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.