First Mortgage Lender Outside of Figure to Originate Loans on ProvenanceSAN FRANCISCO, Sept. 5, 2019 /PRNewswire/ -- Caliber Home Loans, Inc. (Caliber), one of the nation's leading mortgage companies, has become the first lender outside of Figure to originate loans directly on Provenance, the industry's leading blockchain platform.
By originating, servicing and financing loans on Provenance, Caliber looks to deliver an outstanding consumer experience while lowering costs, reducing risk, and improving financing execution throughout the entire loan process.
Caliber is originating Caliber Home Equity Line of Credit loans as the first customer licensing Figure SaaS, a best of class loan origination system natively integrated into blockchain. Figure SaaS offers loan origination platforms in home equity and mortgage, and will soon offer multiple other asset classes and product offerings. All will feature full integration into Provenance to deliver origination, servicing and financing benefits.
"We are delighted to be partnering with Figure and offering our customers a distinctive, industry-leading product," said Sanjiv Das, CEO of Caliber Home Loans. "We think the ease and speed of this process is truly unique. Unlike traditional home equity lending timeframes which often stretch out for weeks, our borrowers can now complete the entire process digitally and access their funds in days. We think that's a great solution and gives our customers tremendous flexibility."
Mike Cagney, CEO of Figure, said, "Figure is excited to inaugurate our third-party Figure SaaS platform with Caliber, one of the world's leading mortgage lenders. Caliber's customers are now experiencing our fast, customer-friendly process as well as the efficiencies of the Provenance blockchain platform."