Figure Technologies Inc., a San Francisco-headquartered fintech focused on leveraging blockchain technology applications for the financial services, announced that it has closed a $100 million financing facility for conforming and jumbo mortgages from J.P. Morgan.

This is the fifth financing facility for the Figure, which has closed nearly $1.5 billion across deals with financial services industry including Jefferies.

“This facility with J.P. Morgan will help us continue to innovate in the lending space,” said Mike Cagney, CEO and co-founder of Figure. “We hope to build on our 2020 momentum, both in volume and in bringing blockchain into the mortgage market.”

Over the past several months, Figure has sought to become a more prominent fintech player within the mortgage industry. Last August, Figure introduced the Provenance Loan Market, which it billed as the first loan marketplace that enabled the turnkey buying and selling of loans on blockchain. Cagney, who co-founded the fintech SoFi, said Provenance Loan Marketplace was a “huge step forward in transitioning the buying and selling of loans from the opaque and time-consuming over-the-counter process to a low cost, real time settlement and highly efficient marketplace that delivers unparalleled transparency for loan originators, investors and regulators.”

In November, Figure applied for a national bank charter from the Office of the Controller of the Currency. Cagney stated the charter would “reduce the complexity of our business—we’ll have over 200 state licenses next year without such a charter.”

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