Latest news with #ToddStevens
Business Wire
8 hours ago
- Business
- Business Wire
Figure Technology Solutions Achieves Industry First with S&P AAA Ratings for Blockchain Assets
NEW YORK--(BUSINESS WIRE)-- Figure Technology Solutions ('Figure'), a technology platform powering an efficient, liquid, blockchain-based marketplace for financial products, today announced its latest securitization of mortgage assets totaling $355 million. This transaction, FIGRE 2025-HE3, is a landmark achievement as the first of its kind to receive ratings from S&P Global Ratings across all six bond classes, ranging from AAA to B-. 'This milestone is a significant validation of both our asset quality and the blockchain-backed ecosystem we are building,' said Todd Stevens, Chief Capital Officer of Figure. 'Securing AAA ratings from S&P reflects the growing confidence in blockchain infrastructure as a foundation for secure, efficient, and transparent financial products.' Key Highlights of the Transaction: Investor Participation: More than 30 unique investors participated in the transaction, with large AAA investor participation. Participants included insurance companies, money managers, and credit funds. Oversubscription: All bond classes were oversubscribed during the sale process, reflecting strong market demand. Figure Connect: All of the collateral in the transaction was contributed by participants on Figure Connect – underscoring growing acceptance of our blockchain-based marketplace. Figure itself contributed no collateral into the deal. 'Our goal is for the market to see us as predictable on the credit side as well as the issuance side. We're confident that we can be relied on as a steady, consistent, transparent issuer, which helps drive our appeal with our diverse investor base,' Stevens added. The underlying loans in this transaction leverage the Provenance Blockchain to enhance the efficiency and transparency of the underwriting process. FIGRE 2025-HE3 represents Figure's fourth HELOC securitization in 2025, underscoring the company's continued momentum in the market. Since the launch of Figure Connect in June 2024, investor participation has increased due to the platform's efficiency and yield advantages over traditional non-QM offerings. The recent joint venture with Sixth Street, committing over $2 billion in liquidity, further strengthens Figure's capacity to bridge traditional finance with innovative blockchain solutions. Figure continues to lead the market in blockchain-based securitizations with its end-to-end digital infrastructure driving faster execution and reduced costs, offering enhanced transparency for both issuers and investors. About Figure Technology Solutions Founded in 2018, Figure Technology Solutions ('Figure') is a blockchain–based technology platform built to enhance efficiency and transparency in financial services. Figure Connect is powered by the Provenance Blockchain, which onboards all of Figure's loans, and is the world's largest originator of Real World Assets. Its subsidiary, Figure Lending LLC, is the largest non-bank provider of home equity lines of credit; its software has been used to originate more than $15B of home equity. Figure's technology is embedded across a broad network of loan originators and capital markets buyers and is used directly as well by homeowners in all 50 states and Washington, DC. With Figure, homeowners can receive approval for a HELOC in as fast as five minutes and receive funding in as few as five days. To date, Figure has embedded its HELOC in more than 150 partners, including Rate (formerly Guaranteed Rate), CrossCountry Mortgage, Movement Mortgage, Goodleap, and many other fintechs, depositories, and independent mortgage banks. For more information, visit or follow Figure on LinkedIn.
Yahoo
8 hours ago
- Business
- Yahoo
Figure Technology Solutions Achieves Industry First with S&P AAA Ratings for Blockchain Assets
$355M securitization marks a major milestone in capital markets blockchain integration NEW YORK, June 12, 2025--(BUSINESS WIRE)--Figure Technology Solutions ("Figure"), a technology platform powering an efficient, liquid, blockchain-based marketplace for financial products, today announced its latest securitization of mortgage assets totaling $355 million. This transaction, FIGRE 2025-HE3, is a landmark achievement as the first of its kind to receive ratings from S&P Global Ratings across all six bond classes, ranging from AAA to B-. "This milestone is a significant validation of both our asset quality and the blockchain-backed ecosystem we are building," said Todd Stevens, Chief Capital Officer of Figure. "Securing AAA ratings from S&P reflects the growing confidence in blockchain infrastructure as a foundation for secure, efficient, and transparent financial products." Key Highlights of the Transaction: Investor Participation: More than 30 unique investors participated in the transaction, with large AAA investor participation. Participants included insurance companies, money managers, and credit funds. Oversubscription: All bond classes were oversubscribed during the sale process, reflecting strong market demand. Figure Connect: All of the collateral in the transaction was contributed by participants on Figure Connect – underscoring growing acceptance of our blockchain-based marketplace. Figure itself contributed no collateral into the deal. "Our goal is for the market to see us as predictable on the credit side as well as the issuance side. We're confident that we can be relied on as a steady, consistent, transparent issuer, which helps drive our appeal with our diverse investor base," Stevens added. The underlying loans in this transaction leverage the Provenance Blockchain to enhance the efficiency and transparency of the underwriting process. FIGRE 2025-HE3 represents Figure's fourth HELOC securitization in 2025, underscoring the company's continued momentum in the market. Since the launch of Figure Connect in June 2024, investor participation has increased due to the platform's efficiency and yield advantages over traditional non-QM offerings. The recent joint venture with Sixth Street, committing over $2 billion in liquidity, further strengthens Figure's capacity to bridge traditional finance with innovative blockchain solutions. Figure continues to lead the market in blockchain-based securitizations with its end-to-end digital infrastructure driving faster execution and reduced costs, offering enhanced transparency for both issuers and investors. About Figure Technology Solutions Founded in 2018, Figure Technology Solutions ("Figure") is a blockchain–based technology platform built to enhance efficiency and transparency in financial services. Figure Connect is powered by the Provenance Blockchain, which onboards all of Figure's loans, and is the world's largest originator of Real World Assets. Its subsidiary, Figure Lending LLC, is the largest non-bank provider of home equity lines of credit; its software has been used to originate more than $15B of home equity. Figure's technology is embedded across a broad network of loan originators and capital markets buyers and is used directly as well by homeowners in all 50 states and Washington, DC. With Figure, homeowners can receive approval for a HELOC in as fast as five minutes and receive funding in as few as five days. To date, Figure has embedded its HELOC in more than 150 partners, including Rate (formerly Guaranteed Rate), CrossCountry Mortgage, Movement Mortgage, Goodleap, and many other fintechs, depositories, and independent mortgage banks. For more information, visit or follow Figure on LinkedIn. View source version on Contacts press@ Sign in to access your portfolio
Business Wire
21-05-2025
- Business
- Business Wire
Figure Technology Solutions Secures Strategic Financing Partnership with Victory Park Capital
NEW YORK & CHICAGO--(BUSINESS WIRE)-- Figure Technology Solutions ('Figure'), a technology platform building the blockchain-based capital markets of the future, has entered into a financing agreement with Victory Park Capital ('VPC'), a leading global alternative investment firm specializing in private credit. The transaction includes the sale of Figure's first – and the industry's first – pool of Crypto-Backed Loans. This milestone accelerates Figure's Crypto-Backed Loan business, which enables asset owners to borrow against Bitcoin and Ethereum holdings, to achieve scale. 'Victory Park Capital is an early mover in financing innovative fintech businesses, and we're excited to partner with an institutional asset manager that shares our vision,' said Todd Stevens, Chief Capital Officer of Figure. 'We're applying the template we pioneered with our blockchain-powered mortgage product to add a second product at the intersection of cryptocurrency and traditional finance.' Figure operates blockchain-native marketplaces for Real World Assets, like mortgage and consumer finance, as well as non-real-world assets such as cryptocurrencies. Figure uses Provenance Blockchain, an L1 public blockchain, for crypto loan origination and monitoring. Building off Figure's success in the mortgage space, asset owners take advantage of the flexibility of Figure's offering – which include LTVs up to 75% and longer-term financing – to enjoy liquidity while maintaining their long exposure. 'By offering its customers innovative products, Figure is challenging both the status quo of traditional finance and less flexible crypto lending solutions, while charting a new course for decentralized finance,' said Tom Welch, Partner at VPC. 'We have seen immediate demand for the Crypto-Backed Loan product and believe strongly in the company's highly experienced management team and underlying proprietary technology. We are excited to support the Figure team as they expand their suite of lending solutions.' Throughout the past year, Figure has been expanding Figure Connect, a blockchain-based marketplace that connects loan originators and buyers, ultimately creating the first highly liquid private capital marketplace for loans. With this new transaction, Figure adds crypto-backed loans to its Connect Marketplace. ABOUT FIGURE TECHNOLOGY SOLUTIONS Founded in 2018, Figure Technology Solutions ('Figure') is a blockchain–based technology platform built to enhance efficiency and transparency in financial services. Figure Connect is powered by the Provenance Blockchain, which onboards all of Figure's loans, and is the world's largest originator of Real World Assets. Its subsidiary, Figure Lending LLC, is the largest non-bank provider of home equity lines of credit; its software has been used to originate more than $14B of home equity. Figure's technology is embedded across a broad network of loan originators and capital markets buyers and is used directly as well by homeowners in 50 states and Washington, DC. With Figure, homeowners can receive approval for a HELOC in as fast as five minutes and receive funding in as few as five days. To date, Figure has embedded its HELOC in more than 135 partners, including Rate (formerly Guaranteed Rate), CrossCountry Mortgage, Movement Mortgage, Goodleap, and many other fintechs, depositories, and independent mortgage banks. For more information, visit or follow Figure on LinkedIn. ABOUT VICTORY PARK CAPITAL Victory Park Capital Advisors, LLC ('VPC' or the 'Firm') is a global alternative asset manager that specializes in private asset-backed credit. In addition, the Firm offers comprehensive structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. The Firm was founded in 2007 and is headquartered in Chicago. In 2024, VPC became a majority-owned affiliate of Janus Henderson Group. The Firm leverages the broader resources of Janus Henderson's 2,000+ employees across offices in 25 cities worldwide. VPC is a Registered Investment Advisor with the SEC. For more information, please visit
Yahoo
27-02-2025
- Business
- Yahoo
Figure Technology Solutions and Sixth Street Form Joint Venture to Bring Over $2 Billion of Liquidity and Through-The-Cycle Stability to Non-Agency Mortgage Market
Sixth Street's $200M investment drives further liquidity into Figure Connect NEW YORK, February 27, 2025--(BUSINESS WIRE)--Figure Technology Solutions ("Figure"), a technology platform powering an efficient, liquid, blockchain-based marketplace for financial products, and Sixth Street, a leading global investment firm, today announced the formation of a new joint venture vehicle in which Sixth Street's Asset Based Finance platform has committed to invest $200M of equity. This commitment is unique in that it can be recycled and used for future Figure production driving additional liquidity for Figure private credit loans. This is the latest development for Figure Connect, Figure's transformative marketplace for private credit loans, making it easier for loan origination partners to scale their businesses. Figure Connect's key advantages include attractive warehouse lines to manage cash flow, hedging to manage market risk, and modern infrastructure that automates loan sales and deliveries, all on a public, transparent blockchain. With Figure Connect, partners can also use the marketplace infrastructure for price discovery by putting out pools of loans for bidding. As a result, over 40% of Figure's December 2024 volume went through Figure Connect, which launched in June 2024. Figure Connect is available to all participants in Figure's lending ecosystem. "This joint venture between Figure and Sixth Street puts Figure Connect on a trajectory that is ultimately intended to lower costs for lenders and borrowers, similar to how borrowing costs were lowered with the introduction of TBAs in the agency mortgage space. It validates Figure Connect as the largest, most liquid, blockchain-based capital market," said Todd Stevens, Chief Capital Officer of Figure. "We're excited to be an integral partner in this Figure Connect marketplace milestone and support the strategic growth of a transformational solution for loan originators and investors," said Michael Dryden, Partner and Head of Asset Based Finance at Sixth Street. "We're thrilled to bring our deep experience in residential mortgage investing to form this joint venture with Figure and its Figure Connect marketplace platform, which we believe is a stand-out leader that can support the evolution of home equity as well as the broader private credit market." The Sixth Street-backed joint venture adds further liquidity to Figure Connect's robust offering and will be a key participant in the platform and its continued growth. The joint venture will be an "always on," programmatic bid for Figure assets providing liquidity to Figure marketplace participants. The joint venture is expected to securitize Figure loans, forward-sell its bonds to investors and buy loans from originators, opening up a liquid marketplace. It will start with Figure HELOCs and plans to subsequently look to buy other Non-Agency credit assets. About Figure Technology Solutions Founded in 2018, Figure Technology Solutions ("Figure") is a blockchain–based technology platform built to enhance efficiency and transparency in financial services. Figure Connect is powered by the Provenance Blockchain, which onboards all of Figure's loans, and is the world's largest originator of Real World Assets. Its subsidiary, Figure Lending LLC, is the largest non-bank provider of home equity lines of credit; its software has been used to originate more than $13B of home equity. Figure's technology is embedded across a broad network of loan originators and capital markets buyers and is used directly as well by homeowners in 49 states and Washington, DC. With Figure, homeowners can receive approval for a HELOC in as fast as five minutes and receive funding in as few as five days. To date, Figure has embedded its HELOC in more than 135 partners, including Rate (formerly Guaranteed Rate), CrossCountry Mortgage, Movement Mortgage, Goodleap, and many other fintechs, depositories, and independent mortgage banks. For more information, visit or follow Figure on LinkedIn. About Sixth Street Sixth Street is a global investment firm with over $100 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 650 team members including over 280 investment professionals around the world. For more information, visit or follow Sixth Street on LinkedIn. View source version on Contacts Figure: press@ Sixth Street: media@
Yahoo
26-02-2025
- Politics
- Yahoo
Today at the Roundhouse, Feb. 26
Feb. 26—It's almost March, and legislators are entering a decisive stretch of this year's 60-day legislative session. Here are a few things to watch out for on Wednesday, Feb. 26: Border security: A proposal to create a new state office of border security is scheduled for its first hearing in the Senate Rules Committee. The bill, Senate Bill 257, would authorize a total of $6 million for the new office, which would be tasked with working with the federal government and local governments to expedite construction of a border fence. Up in smoke? The Senate Judiciary Committee will hear a presentation from Todd Stevens, the director of the state's Cannabis Control Division, about marijuana enforcement in New Mexico. The committee could also debate a bill, Senate Bill 152, allowing county commissioners to approve a two-year pause in the issuance of new cannabis producer licenses within the county. Felons voting: New Mexico voters would be able to decide whether to scrap a constitutional prohibition barring individuals with a felony conviction from voting, under a proposal up for debate in the House Government, Elections and Indian Affairs Committee. Former inmates can vote under a 2023 state law, but the proposed change, House Joint Resolution 10, would also extend the ability to vote to certain incarcerated individuals. Behavioral health: It's Behavioral Health Day at the Roundhouse, and the state's Behavioral Health Planning Council will hold a celebration in the Capitol rotunda from 9 to 11 a.m.
