Figure Targets Fannie Mae and Freddie Mac in Mortgage Push, Citing Massive Cost Cuts for Borrowers

Figure Technologies, a blockchain-based lending platform, is targeting Fannie Mae and Freddie Mac in a new mortgage initiative. The company claims its technology can significantly reduce costs for borrowers, potentially saving billions in fees and interest. By leveraging blockchain for loan origination and securitization, Figure aims to streamline the mortgage process, cutting out intermediaries and lowering expenses. This move could disrupt the traditional mortgage market, offering more affordable options for homebuyers. The initiative highlights the growing influence of fintech and blockchain in the financial sector, with potential implications for mortgage giants like Fannie Mae and Freddie Mac.