Skip to content
Subscriber Only

Former SoFi CEO Cagney Sells Biggest Heloc-Backed Bond in Decade

  • Figure Technologies home equity sale completed on blockchain
  • Deal sponsored by alternative real estate firm Saluda Grade

Mike Cagney’s blockchain lending startup Figure Technologies has provided collateral for the biggest bond backed by home equity lines of credit since the American housing collapse over a decade ago.

The $308 million unrated securitization was sponsored by alternative real estate finance firm Saluda Grade and priced earlier this week. The offering is the second securitization of Figure-originated loans and one of the first asset-backed securitizations to be completed entirely on blockchain.