Figure Technologies - San Francisco, CA

Jairo Juarez

If I could give them negative stars, I would! STAY AWAY from this company!!! They are the most grossly incompetent company I've ever worked with! "Figure Lending", "Figure Mortgage", "Figure Technologies".. whatever they want to call themselves, they're terrible! Customer Service doesn't listen at all and do a terrible job of documenting requests and adjustments! I have a mortgage with ONLY me and my dad on it. My parents have their own home and neither of them live at my home. However, Figure insisted on included my wife and my mother on the HELOC application as well. This was actually my SECOND application. My FIRST application was denied because of a lien on a property for someone that is NOT related nor has anything to do with me or my family!!! First red flag, I guess. I submitted another application anyway. My parents live about 45 minutes away from the notary office. We had to go to THREE separate notary sessions! The first time, my documents weren't ready in time, and we wasted a trip to the notary office without any indication of when the documents would be ready. The second time, they never corrected my mom's name on the application after I asked them to so they couldn't accept those signed documents. They told us we would have to schedule a 3rd notary appointment. I also asked them to update some email addresses, which they never did either. We finally met the 3rd time and finished our documents with the corrected info. Then I got an email 2 days ago asking to reschedule YET AGAIN for some corrections!! I called them and they said it was an error and was assured all seemed well and the application was still in progress. Only for them to call me the DAY BEFORE my HELOC was supposed to fund to tell me that in Texas, everyone on the application needs to live at the house!! Like nobody could have reviewed and determined this from the beginning Not even the lawyers that delayed my documents in the first place Their official communication lists "Adverse Action" and "We were unable to verify property ownership"! What does that even mean?!? I assure you I've lived at this residence for 4 years now. No requests for further information. No response for further clarification or response to my inquiry about filing a Quit Claim Deed form to remove my dad from the title. I feel I've been jerked around by this company back and forth from beginning to end! What a complete waste of time!

Paul Thomas

*CAUTION* They will not let you make any changes without potentially more hits to your credit score even if the application is not completed or signed. Tread very carefully and use a more customer friendly option if available.

A C

DO NOT USE THIS SERVICE UNLESS YOU ARE HAPPY FOR YOUR CREDIT TO BE RUINED DUE TO FALSE REPORTING TO THE CREDIT BUREAUS.

I qualified for a HELOC loan, which was secured against my property. I received an alert from Experian indicating it has been coded under a credit card, resulting in 93% credit card usage where I had no prior credit card usage. After contacting Experian, I was told that it should have been recorded as a second mortgage lien against my property.

I contacted Figure to enquire why it was recorded as a credit card and file a complaint, but Customer Service Manager Jared Barton was unhelpful and dismissive. He suggested I send an email to a non-name account to begin with, and eventually said he would send a complaint form, but it would take 30 days for someone to review it. There was no ownership taken of my problem.

As you are aware running up high balances on your credit cards raises your credit utilization ratio and can lower your credit score. My credit dropped 22 points on the day it was reported to Experian. Jared Barton was unsympathetic and advised me to file a complaint with whomever I pleased. As a result, I lodged a complaint with the Fraud Department against Figure, requesting that your company be investigated for filing it as a fraudulent code.

Based on my research, it appears that FICO does not factor in HELOC utilization when determining credit scores. This is in contrast to credit cards, where it is suggested to maintain a balance below 30% of the credit limit.

This isn't the first time this has happened to Figure's customers as the frontline people told me this happens all the time.

Country Flier

I had an excellent experience, throughout my loan process, with Figure Lending. I needed the money quickly for some unexpected home repairs. You guys really came through, and at every step of the way you've been great! Even when paying off the loan early, and closing the account, Figure was great. I've recommended Figure to several of my friends, and I would use Figure again in a heartbeat if in the same situation.

Cheng Su

I had a fairly smooth experience getting a HELOC from Figure. The process was straightforward, took me maybe 10 minutes in total. I really liked the idea of e-notary. Cool innovation saved me the hassle of visiting a bank. Hope more companies will copy the idea. I did quite a bit shopping and felt the rate (6%) I got was reasonably competitive, especially taken into account the time I saved from dealing with all the paper work. Much better than a credit card. Their online system is not the most polished but works fine with basic features like auto payment and e-statement. Overall not bad.

Noel Heyden

update 7/8/21 increase from 1 to 4 stars.
they fixed their incompetence. They fired their 3rd party vendor who does the PCRA drive by assessment who was causing delay so now the process is digital. I took a chance and reapplied and they did complete the funding in 5-6 days this time.

Lol. 9 days since closing only 5 days left and they say that they will void the application if they are unable to get their drive by appraisal accomplished which is their responsibility. Was supposed to fund 4 days ago. Customer service is opaque, beware. If you want to waste your time, Figure.

update: they failed to get their own property inspection and they cancelled my application for their own failing. As expected. Trust your gut. Some articles on line say that they are having trouble achieving a banking license.

Annette Hayden

Horrible. Applied online for home equity line for small amount. I decided I wanted a larger amount. They canceled my first application and I had to reapply all over again...for a higher interest rate. Then they had issues with a blurry Id, then the certificate of trust didn't have the right information. It is just one problem after another. Better to use a local bank.

Bill Hanekamp

Extremely easy to work with and trustworthy. No gimmicks. Great phone support as well. Loved the fact everything is online and takes advantage of latest technology... can't stand when companies still want faxes or copies or mail! Highly recommend.