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CryptoWorld News reports that Wu Shuo Blockchain posted on Twitter, saying that Figure responded to the short-selling allegations by stating that after its loans are issued and disbursed, they are recorded on the blockchain immediately; all subsequent ownership transfers and pledges are carried out on-chain as well. Some HELOC processes still require traditional documentation due to regulatory requirements, but the on-chain records function as the actual operating ledger.
The company disclosed that the average borrower’s FICO is about 754, the average income is approximately $187,000, the overall LTV is about 62%, and the multi-year loss rate is about 1% or lower. Figure also said that in March, its platform’s total loan sales exceeded $1.15 billion; in April, the BWIC auction spread hit a new low, denying that institutional funds are withdrawing.