"The platform allows investors to qualify based on property cash flow rather than personal income, which grants them access to flexible capital for investment properties 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"
"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 platform allows investors to qualify based on property cash flow rather than personal income, granting access to flexible capital for properties while reducing time and costs. The system reduces DSCR loan processing times dramatically, making funding available in as few as five days. AI automation and OCR replace manual underwriting and document reviews, using automated valuation models for DSCR refinance loans under $400,000 and rental income verification models to speed approvals. Automation claims to slash origination costs by up to 80% while the industry average has risen 35% to over $10,000 per loan. The platform integrates with banks, mortgage companies, and credit unions via web and API connections and offers blockchain-based transparency, fraud prevention, and scalability.
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