Caliber Gets in on Blockchain
September 6, 2019
Caliber Home Loans Inc. has become the first lender outside of Figure to originate loans directly on the Provenance blockchain platform.
By originating, servicing and financing loans on Provenance, Caliber looks to deliver an outstanding consumer experience, while lowering costs, reducing risk and improving financing execution throughout the entire loan process.
Caliber is originating Caliber Home Equity Line of Credit loans as the first customer licensing Figure SaaS, a best of class loan origination system natively integrated into blockchain. Figure SaaS offers loan origination platforms in home equity and mortgage, and will soon offer multiple other asset classes and product offerings. All will feature full integration into Provenance to deliver origination, servicing and financing benefits.
"We are delighted to be partnering with Figure and offering our customers a distinctive, industry-leading product," said Sanjiv Das, chief executive officer of Caliber. "We think the ease and speed of this process is truly unique. Unlike traditional home equity lending timeframes which often stretch out for weeks, our borrowers can now complete the entire process digitally and access their funds in days. We think that's a great solution and gives our customers tremendous flexibility."
Mike Cagney, chief executive officer of Figure, said, "Figure is excited to inaugurate our third-party Figure SaaS platform with Caliber, one of the world's leading mortgage lenders. Caliber's customers are now experiencing our fast, customer-friendly process as well as the efficiencies of the Provenance blockchain platform."
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