loanDepot Partners With Figure To Launch Express Path Loans

loanDepot has partnered with Figure to introduce a new suite of “Express Path” loan products designed to accelerate the mortgage process through automated underwriting and integrated technology.

The move builds on loanDepot’s prior investment in digital underwriting capabilities, including its melloNow engine. The offering, powered by Figure’s technology and embedded within loanDepot’s mello platform and point-of-sale system, is intended to streamline origination by delivering approvals in minutes and funding in a matter of days, according to the company.

loanDepot said the initiative is also aimed at reducing the cost to produce loans, as the lender continues to invest in technology designed to improve operational efficiency.

The Express Path products leverage Figure’s automated underwriting capabilities to simplify the lending process within loanDepot’s existing digital infrastructure, allowing borrowers to move through the application and approval process more quickly.

The partnership reflects a broader push by lenders to integrate technology more deeply into the origination workflow, with a focus on improving speed and efficiency while managing production costs.

loanDepot said the new offering will be available to its customers through its platform, as part of its continued expansion of digital mortgage capabilities.