Denied HELOC in 5 minutes despite 806 credit score

The author, a mortgage broker with an 806 credit score, was denied a HELOC by Figure's AI algorithm, which made the decision in under 5 minutes with insufficient explanation and potentially inaccurate automated property valuation and missing mortgage data.

Date it happened

2026-04-12

Organisation involved

Figure

This is a record of what was reported, not a finding that anyone broke the law. If it names your organisation and you believe it is wrong, the corrections process is free and open to everyone.