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Figure Sees 300 Percent Surge Due to Rate Cut

Figure Sees 300 Percent Surge Due to Rate Cut

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FintechNews RoundupUSA
··1 min read

Blockchain based lending fintech Figure has seen a 300 percent surge in loan applications due to the recent rate cut by the Fed; the Fed recently took an unprecedented step and dropped rates by 50 basis points in a bid to slow market volatility due to the coronavirus; Figure CEO Mike Cagney said the surge in applications was due in large part to low mortgage rates; “HELOCs and student loan refinancing. Consumers will benefit through lower debt costs and, for cash-out refi and HELOCs, more cash on hand,” said Cagney to Crowdfund Insider. “I believe this is the fastest a de novo Fintech has exceeded $1 billion in funded loans.” CrowdFund Insider

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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