Figure (FIGR) Partners with Sierra on AI Agents to Improve Home Equity Loan Completion Rates
On September 10, 2026, Figure Technology Solutions (NASDAQ: FIGR) announced a partnership with conversational AI platform Sierra to address the issue of stalled home equity loan applications. Only about half of these loans closed in 2024 despite rising HELOC volume, and Figure aims to improve completion rates using its new AI agent built on Sierra's Horizon platform. The AI agent engages borrowers through voice and text, guiding them past key friction points like credit checks and identity verification before passing the application to a human loan officer. Early results show that engaged applicants moved forward at 30%–52% higher rates than those who did not interact with the agent, resulting in 67% more funded loans overall. Despite these promising pilot outcomes, Figure's business still faces challenges such as declining net take rate and dependence on HELOC market conditions. Additionally, hedge fund ownership has dropped from 51 to 32 funds recently, while short interest stands at 6.53%, indicating investor skepticism about the long-term viability of AI-driven improvements.
Topics: AI agents home equity loans mortgage lending partnerships