Figure has addressed allegations from short sellers, emphasizing that its loans are represented on the blockchain immediately after disbursement. All subsequent ownership transfers and pledges are recorded and executed on its platform. While some HELOC processes still require traditional documentation due to regulatory demands, blockchain records serve as the operational ledger, with offline documents used for legal compliance. Regarding risk management and asset quality, Figure reported that its borrowers have an average FICO score of approximately 754, an average income of $187,000, and a post-loan LTV ratio of about 62%. The company also noted a historical loss rate of around 1% or lower. Additionally, Figure disclosed that its platform's total loan sales exceeded $1.15 billion in March 2026, and the BWIC auction spreads in April reached a new low, refuting claims of institutional fund withdrawal.