Consumer complaint received 2026-04-09 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Fees charged
Company: Figure Technologies, Inc
State: NC

Complaint narrative:
CFPB Complaint Opening Statement : I have been attempting for over one year to resolve improper force-placed insurance issues with Figure Lending LLC . Despite repeatedly submitting valid condominium insurance documentationincluding my HO-6 policy and the associations master and flood policiesI have never received a clear written determination of any deficiency. Instead, Figure has provided multiple conflicting explanations, continuously changed requirements, and failed to identify any specific, consistent basis for its position. I have complied in good faith with every request, yet the issue remains unresolved and continues to cause financial harm and significant stress. This complaint is being filed because Figure has failed to provide a clear, actionable path to compliance while continuing to assess or threaten force-placed insurance without proper justification. CFPB Complaint Force-Placed Insurance / Servicing Failure Company : Figure Lending LLC Complaint Summary I am filing this complaint regarding improper force-placed insurance charges, failure to provide a clear insurance determination, and repeated conflicting and inaccurate information from my mortgage servicer, Figure Lending LLC. This issue has been ongoing for over one year, during which I have repeatedly submitted proof of insurance and have never received a clear, consistent, or written explanation of any deficiency. Property and Insurance Structure The property is a condominium unit, not a single-family home. Insurance coverage is structured as follows : My XXXX condominium policy ( unit/interior and contents ) The condominium association master policy ( building structure ) The association flood policy ( building-level flood coverage ) I have provided documentation for all applicable policies multiple times. Issue Details Despite providing valid insurance documentation, Figure Lending has : 1. Failed to provide a clear written determination I have never received a written statement confirming whether my insurance is accepted or rejected I have never been given a clear, actionable deficiency notice 2. Provided multiple conflicting explanations Different representatives have stated : That my XXXX insurance policy was missing That my XXXX coverage amount ( {$50000.00} ) is insufficient That I allegedly agreed to maintain XXXX coverage equal to 20 % of the property value That Figure must be listed on the condominium associations flood policy These explanations are inconsistent and have never been supported with documentation. XXXX. Made unsupported or incorrect insurance demands Most recently, I was told that Figure must be listed on the buildings flood policy. The condominium associations insurance professional has confirmed that : The flood policy is a master policy held by the association It covers the building as a whole Individual unit lenders are not typically listed This is not required under standard FEMA/NFIP practices Figure has not provided any documentation supporting this requirement. 4. Failed to explain how the loan closed I submitted insurance documentation prior to closing. If my insurance was insufficient : The loan should not have closed, or I should have been notified of a deficiency at that time Figure has never explained : How the loan closed with allegedly insufficient insurance Why the same insurance was later deemed non-compliant 5. Assessed or maintained force-placed insurance without proper basis Figure has applied or attempted to apply force-placed insurance despite : My continuous coverage Repeated submissions of documentation No clear written deficiency notice No clear opportunity to cure 6. Shifted responsibility to a third-party vendor I have been told to contact a third-party insurance processor but : I was not provided contact information I have no contractual relationship with that vendor Figure has not taken responsibility for final determination Impact on Me Ongoing financial harm from improper or threatened charges Significant time and stress over more than a year Repeated submission of documents with no resolution Inability to confirm compliance despite good-faith efforts Requested Resolution I am requesting that Figure Lending LLC : Provide a clear written determination confirming whether my insurance satisfies their requirements If not, provide a specific, documented explanation of : exact coverage requirement contractual basis how it applies to a condominium Remove all improperly assessed force-placed insurance charges Refund any premiums, fees, or interest charged while valid coverage existed Provide a complete accounting of all force-placed insurance activity Confirm that no further force-placed insurance will be applied without a valid, documented deficiency Legal/Regulatory Concern This appears to be a violation of mortgage servicing obligations under : RESPA / Regulation X ( 12 C.F.R. 1024.3537 ) Requirements for force-placed insurance Requirements to respond to borrower inquiries and disputes

Company response to consumer: Closed with explanation