Figure Technology Solutions, the parent company of Figure Lending LLC, announced on Wednesday the hiring of Ronald Chillemi as its first chief legal officer and corporate secretary.
Chillemi has more than 25 years of experience in regulatory affairs, government relations and compliance across a number of fintech companies and law firms. He also previously served as a federal and state prosecutor, including with the U.S. Department of Justice.
Prior to joining Figure, Chillemi was the general counsel for Aven, a provider of secured lending products, and he was the deputy general counsel for New York-based digital lender Better.
“We are thrilled to welcome Ron to our executive team,“ Figure CEO Michael Tannenbaum said in a statement. “Throughout his career, Ron has built an exceptional track record, overseeing robust legal and compliance functions and helping to shape important state and federal legislative frameworks.
“In just a few years, Figure has become the number one nonbank HELOC provider, largely because the capital markets and regulators are supportive of our modern approach. Having a CLO of Ron’s caliber will be invaluable to Figure as we enter our most ambitious chapter yet.”
Since its founding in 2018, Figure has originated more than $11 billion in home equity lines of credit (HELOCs). Its technology is available to homeowners in 47 states and Washington, D.C., allowing for the funding of a HELOC in as little as five days. Its 120-plus lending partners include CMG Financial, CrossCountry Mortgage, Fairway Independent Mortgage Corp., Movement Mortgage and Rate.
Figure has continued to build on its digital-first approach since hiring Tannenbaum as CEO in April. In June, the firm announced the launch of Figure Connect, a blockchain-based marketplace that connects buyers and sellers of private credit loans. The platform aims to reduce settlement timelines and create greater pricing certainty.
