Inside Figure and Homebridge’s massive bet on blockchain

Mike Cagney - HW+
Mike Cagney, co-Founder at Figure Technologies

Peter Norden, the CEO of Homebridge Financial Services, has been waiting a long time to do something truly unique in the mortgage business. Decades.

“I’ve always struggled with finding a way to be different than my competition,” Norden, a 43-year veteran of the business, said. “Because the reality is, when you really look at it, all mortgage bankers sell pretty much the same products. And we pretty much sell those products to the same buyers, or put them in the same securities. We really don’t have a lot of differentiation.”

When an investment banker called Norden last year to ask if he wanted to meet up with fintech pioneer Mike Cagney, Norden agreed. 

By that point, Cagney had already raised over $1.2 billion in debt and equity for his blockchain-focused fintech company, Figure Technologies, and generated real buzz around his vision for completely remaking the mortgage process. 

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