Figure Technologies: Balance in Non-Accrual Status Skyrockets as Figure Takes Troubled Loans onto Balance Sheet

Figure Technologies (FIGR), known for its fast-growing home equity line of credit (HELOC) origination business, reported a sharp spike in non-accrual loans on its balance sheet for the first quarter of the year, a signal that the credit quality of the loans originated by the company’s automated system may be weaker than expected