Stop losing qualified borrowers to stale DTI
Account for verified debt payoff to approve more borrowers and make stronger offers.
Without Method
Denied
52% DTI
With Method
$9k verified paid
Approved
38% DTI
Same borrower. Same income.
How it works
1
Verify identity
Identify the borrower with name and phone.
2
Discover the opportunity
See if current debt supports a stronger offer.
3
Improve the offer
Increase the line, loan amount, or improve terms.
4
Execute the payoff
Pay creditors directly and track settlement.
50%
Fewer 60-day delinquencies
3%
More pre-approved offers
11%
Higher median loan value
We knew many borrowers were using Figure to reduce their debt load, but couldn’t verify that their existing debts were actually being repaid. Method changed that, helping us increase eligibility, offer larger loan sizes, and improve conversion.
Brad Mears
Director of Product Management