Figure’s Michael Tannenbaum warns rush to adopt AI could accelerate poor mortgage processes

The mortgage industry’s rush toward the adoption and use of artificial intelligence could risk the acceleration of inefficient processes unless lenders first modernize the underlying infrastructure powering loan origination and securitization.

That’s according to Figure Technology Solutions CEO The company has focused much of its growth on “That’s a niche solution to a real problem,” Tannenbaum said. “What we’re doing is a systematic solution, whereas I would call the crypto mortgage a point solution or a workaround.”

Tannenbaum explained that Figure positions itself as an alternative infrastructure provider for lenders, comparing the company’s role to that of government-sponsored enterprises Fannie Mae and Freddie Mac. He said lenders use Figure’s origination platform and capital markets network while continuing to originate loans under their own brands.

Of Figure’s 300 partners, Tannenbaum told the audience that 204 of them accounted for roughly 32% of all home equity growth between 2022 and 2025, citing