Michael Tannenbaum

Figure is a blockchain-based, capital-light mortgage marketplace with about 500 origination partners. It closes mortgages in about 5 days for roughly $1,000 versus industry averages of 45 days and $12,000, cuts third-party loan diligence costs by 80%, and uses on-chain asset tracking to prevent loan double-pledging fraud. The result is roughly 100% topline growth and 50% bottom-line growth, which management calls a Rule of 150 business, and management says investors should focus on this rare growth-plus-margin combination and Figure's market leadership in real-world asset origination.