Figure Partners with Sierra to Supercharge Loan Officers with AI Agents That Turn Abandoned Home Equity Applications into Funded Loans

Figure’s Sierra-powered AI agent aims to revive abandoned HELOC applications, boosting funded loan conversions alongside human loan officers.

Rhea-AI Summary

Figure Technology Solutions (FIGR) announced a partnership with AI platform Sierra to deploy Horizon-powered agents that help convert stalled U.S. home equity applications into funded loans.

The Figure Agent, trained to work natively in Figure’s Loan Origination System, autonomously contacts stalled applicants via voice and SMS over multiple days, guiding them through credit checks, ID verification and bank account linking before handing off to human loan officers. Early pilot results show stalled applicants who interacted with the agent progressed through friction stages at a 30–52% higher rate, and borrowers who engaged with the agent funded 67% more loan volume. Combining the Figure Agent with loan officers produced a 143% lift in funded loan conversion versus loan officers alone, and Figure plans to roll out the integration to partners in its network in the coming months.

Positive

• Stalled applicant progression 30–52% higher for those interacting with the Figure Agent
• Funded loan volume 67% higher for borrowers who engaged with the Figure Agent
• Funded loan conversion +143% when combining Figure Agent with loan officers versus loan officers alone
• Planned rollout of the Sierra Horizon integration to partners over the coming months
• First U.S. integration for Sierra’s Horizon platform focused on revenue-generating, long-horizon tasks

Negative

• None.

News Explained

The release adds that the program targets a $2 trillion mortgage industry in which just 49% of HELOC applications reached closing in 2024, making abandoned applications the stated industry bottleneck addressed by the partnership.

Market Context

FIGR was down 0.38% pre-headline with volume at 1.46x its 20-day average; no peers appeared in the m...

Analysis

FIGR was down 0.38% pre-headline with volume at 1.46x its 20-day average; no peers appeared in the momentum scanner, so the partnership's reported conversion gains lacked sector-wide market confirmation.

Key Figures

HELOC closing pull-through: 49% Nationwide HELOC volume: $271 billion U.S. home equity: $35 trillion +4 more

HELOC closing pull-through

49%

2024 average

Nationwide HELOC volume

$271 billion

2025

U.S. home equity

$35 trillion

Currently held by U.S. homeowners

Mortgage industry size

$2 trillion

Industry addressed by the partnership

Friction-stage progression

30-52% higher

Figure Agent users versus non-users

Funded loan volume increase

67% more

Borrowers engaging with the Figure Agent

Funded loan conversion lift

143%

Figure Agent combined with Loan Officers versus Loan Officers alone

Key Terms

tokenized assets, home equity lines of credit, loan origination system

3 terms

tokenized assets technical

"the origination, funding, sale, and trading of tokenized assets"

A tokenized asset is a digital representation of ownership or rights to a real-world or financial item—such as property, a bond, or a piece of art—recorded on a secure digital ledger. Think of it like turning an asset into many small, tradable tickets that can be bought, sold, or transferred more quickly and cheaply; for investors this can mean easier access, fractional ownership, greater liquidity, and faster settlement, but also introduces technology, legal and market risks.

home equity lines of credit financial

"average closing pull-through for Home Equity Lines of Credit (HELOC)"

A home equity line of credit (HELOC) is a revolving loan that lets a homeowner borrow against the value built up in their house, similar to a credit card where the home serves as collateral. It usually has a variable interest rate and a set draw period, so changes in rates or property values can alter monthly payments and borrowing capacity; investors watch HELOC activity because it influences banks’ lending risk, consumer spending, and the broader housing market.

loan origination system technical

"trained by Figure to work natively in its Loan Origination System"

A loan origination system is the software lenders use to handle the entire lifecycle of a loan application—from taking in an application and checking credit and documents to making approval decisions and disbursing funds. It matters to investors because the system drives how fast and cheaply a lender can underwrite loans, stay compliant, and scale business; think of it as the checkout and quality-control workflow that determines customer speed, error rates, and profit margins.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Integration with Takeoff, newly acquired by Sierra, tackles a major bottleneck in the $2 trillion mortgage industry, where less than half (49%) of home equity applications reach closing
• Combining Agent with Loan Officers yields a 143% lift in funded loan conversion
• First US integration for Sierra’s Horizon Platform that tackles revenue-generating, long-horizon tasks
  
  

NEW YORK and SAN FRANCISCO, Sept. 10, 2026 (GLOBE NEWSWIRE) -- Figure Technology Solutions, Inc. (“Figure,” Nasdaq: FIGR; OPEN: FGRS), the blockchain-native capital marketplace for the origination, funding, sale, and trading of tokenized assets, today announced a partnership with Sierra, the conversational AI platform co-founded by Bret Taylor and Clay Bavor.

The collaboration marks the first U.S. use of Sierra’s newly-established Horizon platform. Horizon enables businesses to build agents that expand beyond customer support functions to revenue-generating workflows through the ability to work for longer periods of time on complex tasks.

U.S. homeowners currently hold $35 trillion in home equity, yet complex documentation requirements often lead to excessive friction and application abandonment. According to the Mortgage Bankers Association’s 2025 Home Equity Lending Study, average closing pull-through for Home Equity Lines of Credit (HELOC) was just 49% in 2024, with nationwide HELOC volume at $271 billion in 2025. Taking into account fees, interest and marketing costs, abandoned applications represent a major bottleneck for originators in the $2 trillion mortgage industry.

The Figure Agent is powered by Sierra’s Horizon platform and was trained by Figure to work natively in its Loan Origination System. The agent reaches out to stalled applicants via voice and SMS, operating autonomously over days. It progresses stagnated applicants and brings them closer to conversion by assisting borrowers through routine friction points such as credit check permissions, ID verification, and bank account linking, and then seamlessly transfers them to an Loan Officer (LO) to finalize the loan.

"Enterprise AI is increasingly moving beyond reactive, cost saving use cases to complex, revenue-generating opportunities that can deliver additional growth and help innovative companies differentiate themselves in highly competitive industries,” said Bret Taylor, Co-Founder of Sierra. "Accessing home equity is a complex, high-friction workflow that presents a perfect use case. Figure is a likeminded leader, bringing transformational technology and data transparency to capital markets, and we’re so proud to partner with them.”

Early results¹ demonstrate significant conversion gains:

• Stalled applicants who interacted with the Figure Agent progressed through individual friction stages at a 30-52% higher rate than those who didn’t.
  
• Borrowers who engaged with the Figure Agent, whether with or without Loan Officer assistance, funded 67% more loan volume.
  
• Combining the Figure Agent with Loan Officers yields a 143% lift in funded loan conversion when compared to Loan Officers operating alone.
  
  

Following success with its pilot, Figure plans to make the integration available to partners in its network over the coming months.

“The future of mortgage is human-agent synergy, and Sierra was the natural partner for Figure to harness that future to improve our partners’ revenue outcomes. The results we have seen, in particular the reduction in the industry scourge of abandonment, is a testament to the simplicity and automation of our marketplace. There is no other capital market that could offer the simple, deterministic training ground to an AI agent and get these incredible results,” added Michael Tannenbaum, Chief Executive Officer at Figure.

"We founded Takeoff in the belief that building deeply integrated solutions directly tied to business results is the future of enterprise software,” said Aakash Thumaty, Founder of Takeoff and GM of Horizon. "By bringing our long-horizon agent architecture with infinite patience to Sierra, and integrating natively into Figure, AI co-pilots are executing complex, multi-day financial tasks alongside human loan officers with unprecedented efficiency."

About Figure

Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS) is the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets. More than 480 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $30 billion of loans to date, among other products. The fastest growing components are Figure Connect, its credit marketplace, and Democratized Prime, Figure’s on-chain lend-borrow marketplace. Figure’s ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS.

Figure is the market leader in real-world asset (RWA) tokenization. The company has received AAA ratings ratings from S&P and Moody’s on multiple loan securitizations, the first of its kind for blockchain finance. For more information, visit https://figure.com or follow Figure on LinkedIn.

*Terms and conditions apply. Figure Lending LLC dba Figure. NMLS #1717824. Equal Opportunity Lender. Visit figure.com for details.

About Sierra
Sierra is the leading conversational AI platform, helping businesses build better customer experiences with AI. Agents built on Sierra resolve customer service issues and drive key business workflows, from account set up and troubleshooting, to originating mortgages, scheduling appointments, and saving subscribers from churning.

Sierra works with over 40% of the Fortune 50, one in three of the world’s leading banks, and five out of 10 of the largest healthcare companies. Leading brands like The GAP, Rocket Mortgage, SoFi, Sutter Health, and Wayfair partner with Sierra to improve customer satisfaction and drive better business outcomes.

Contacts
press@Figure.com
chelsea@heycommand.com

¹ Figure Performance Data Analysis Conducted July 2026

FAQ

What lending bottleneck does Figure’s partnership with Sierra aim to address?

The partnership targets high abandonment in home equity lending, where complex documentation creates friction. The Mortgage Bankers Association’s 2025 Home Equity Lending Study reported average closing pull-through for Home Equity Lines of Credit at 49% in 2024, with nationwide HELOC volume of $271 billion in 2025. Figure describes abandoned applications as a major bottleneck for originators in the roughly $2 trillion mortgage industry.

How does the Figure Agent work within the loan origination process?

The Figure Agent is powered by Sierra’s Horizon platform and trained to operate natively in Figure’s Loan Origination System. It autonomously reaches out to stalled applicants via voice and SMS over multiple days, helps them complete steps such as credit check permissions, ID verification and bank account linking, and then transfers them to a loan officer to finalize the loan.

What role does Sierra’s Horizon platform play in this integration?

Sierra’s Horizon platform enables businesses to build agents that extend beyond customer support into revenue-generating workflows by working for longer periods on complex tasks. This collaboration is described as the first U.S. use of Horizon, with its long-horizon agent architecture integrated natively into Figure so AI co-pilots can execute complex, multi-day financial tasks alongside human loan officers.

When does Figure expect to offer this AI integration to its broader partner network?

After the pilot’s reported success, Figure plans to make the Sierra Horizon integration, and the associated Figure Agent capabilities, available to partners in its network over the coming months.