Lenders Adopt Figure White-Label Platform

Figure is turning a slow local bank product into embedded infrastructure. For a credit union or community bank, the appeal is simple, keep the customer and the deposit relationship, but outsource the hard part, instant approvals, digital closing, lien handling, and loan sale plumbing. That is why white label adoption matters more than direct lender share, it lets Figure sit underneath institutions that still control most HELOC demand.

• Figure says its Partner HELOC API is embedded with more than 135 partners, including banks, credit unions, independent mortgage banks, and fintechs. Its 2025 filing also says partner branded loans were 77% of originations in the first half of 2025, showing the partner channel is already the core distribution engine.
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• This solves a very specific build versus buy problem. A regional institution can put its own brand on the front end, while Figure supplies underwriting, eNotary, digital title, and secondary market execution. Blend plays a different role for larger banks, it modernizes their workflow software, but those banks still fund and process loans inside their own stack.
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• The market structure makes this attractive. Depositories and credit unions still dominate HELOC originations, and credit unions held the largest HELOC share in TransUnion's Q2 2025 data. That means thousands of smaller lenders have customer relationships and cheap deposits, but not necessarily the engineering budget to build a five to ten day digital HELOC from scratch.
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The next step is for Figure to become the default operating layer for second lien lending outside the biggest banks. If more community lenders adopt the platform, Figure gains scale on both sides, more origination volume from local brands, and more investor demand flowing through its loan sale and registry infrastructure.