Figure Technologies — Local services in San Francisco

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...

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...

Got paper in mail with a code. Never actually used code and went online with my phone and typed in information going down road in between service calls(I’m a plumber). Had to stop for maybe 2 minutes to get good connection for e-notary but literally did that out of passenger seat of Nissan minivan at night no less. Had to turn on interior light to verify ID and back on road in no time!! Checked interest rates and offers from other companies but seemed very fair for my credit score. Also most others application process involves heavy documentation and paperwork. The ease of entire home equity loan process and fast track to funds deal they have going on is second to none. Most loans I’d have to wait 30-45 days for. I found nice investment property with very small window to close. Figure made that dream a reality, and I’m buying my second home in less then 2 years time with their help. I am so grateful for the ease of loan process and sliding scale that shows you what payment/loan will be according to what you think you can pay each month. I like that scale a lot. I do not work for FIGURE. I work in northern va doing service repairs in regular people’s homes just like me. If you’re looking for a hassle free, easy process, and fast funding for whatever dream you have, I suggest giving Figure a try before the other guys. You will be glad you did!! Thanks again FIGURE! I really...