Figure Technology Solutions vs MIAC Analytics

What the rubric says

Figure Technology Solutions and MIAC Analytics are both scored in Secondary & Capital Markets. Figure Technology Solutions carries an overall of 3.6, MIAC Analytics an overall of 3. The widest gap between them is Production impact, at 1 of a point. That axis measures whether the tool moves volume, pull-through or cycle time. Figure Technology Solutions takes it, 4 to 3.

Where the five axes separate

On Production impact the record favours Figure Technology Solutions, 4 against 3. On Adoption and support the record favours Figure Technology Solutions, 3.3 against 2.5. On Integrations and ecosystem the record favours Figure Technology Solutions, 3 against 2.3. On Return on spend the record favours Figure Technology Solutions, 3.3 against 2.8. On Functionality and depth the record favours Figure Technology Solutions, 3.7 against 3.6.

In Secondary & Capital Markets the rubric weights Production impact heaviest, at 35 percent. That is why the two overalls sit where they do.

How the weights turn axes into a score

Production impact carries 35 percent of the Secondary & Capital Markets score. It measures whether the tool moves volume, pull-through or cycle time. Functionality and depth carries 30 percent of the Secondary & Capital Markets score. It measures whether it handles the messy loans and not just the clean file. Integrations and ecosystem carries 15 percent of the Secondary & Capital Markets score. It measures how well it reaches the rest of the stack. Adoption and support carries 10 percent of the Secondary & Capital Markets score. It measures whether the team adopts it and gets unstuck. Return on spend carries 10 percent of the Secondary & Capital Markets score. It measures what the spend returns, which is not the same as being cheap.

Pricing posture

Figure Technology Solutions does not publish pricing. Its listed model is not published for partners; consumer loan rates are published, platform economics are not. MIAC Analytics does not publish pricing. Its listed model is quote only; software licences and advisory engagements priced separately.

Deployment and who each one targets

Deployment for Figure Technology Solutions: Cloud platform with a blockchain-native registry and marketplace. Deployment for MIAC Analytics: Licensed software and hosted analytics, with advisory and brokerage services alongside. Segment focus for Figure Technology Solutions: Home equity originators and institutional credit buyers willing to work on Figure’s blockchain rails. Segment focus for MIAC Analytics: Servicers and investors valuing MSRs and whole loans, plus lenders wanting hedge advisory. The two entries name different buyers.

What each record credits

Figure Technology Solutions: Company states 200-plus partners use its origination systems, $22 billion-plus financed. Figure Technology Solutions: Nasdaq disclosure under FIGR beats any private vendor here for transparency. Figure Technology Solutions: Origination and secondary sale share one ecosystem, removing handoffs that slow sales. Figure Technology Solutions: DART handles custody and lien perfection natively; Figure Connect provides a standing bid. MIAC Analytics: Independent since 1989, established enough on valuation and brokerage for ASC 820 work. MIAC Analytics: CORE models cover prepayment, credit frequency, loss severity and term structure. MIAC Analytics: MarketShield unites hedging analytics, loan-level pricing, spec pool valuation and execution oversight. MIAC Analytics: Reports 300-plus clients worldwide, with staff in four US locations plus London and India.

What each record holds against them

Figure Technology Solutions: Closed ecosystem, with no third-party LOS or hedge advisory integrations named. Figure Technology Solutions: Scope is home equity and adjacent credit, not agency or jumbo first liens. Figure Technology Solutions: No partner-side pricing; the only published rates are consumer HELOC terms. Figure Technology Solutions: Mid-transformation: the Figure Markets merger and announced Kiavi deal keep the perimeter moving. MIAC Analytics: No integrations named at all, so feeding position and pipeline data is on you. MIAC Analytics: No ownership or investor disclosure published. MIAC Analytics: Over 25 products with thin public documentation, so scope stays unclear before sales calls. MIAC Analytics: Analyst-grade tooling with a matching learning curve; generalists will not pick it up.

Which one fits which shop

Best fit for Figure Technology Solutions: A lender that wants HELOC origination and a ready buyer in the same system. Best fit for MIAC Analytics: A servicer that needs an independent ASC 820 valuation and the models behind it.

What each entry concludes

Figure Technology Solutions: Figure is an all-or-nothing decision, not a tool you bolt onto an existing stack. Figure Technology Solutions: It is a vertically integrated home equity platform trading on Nasdaq under FIGR. Figure Technology Solutions: It runs its own registry and its own secondary marketplace. Figure Technology Solutions: Partners originate on Figure’s system, lien position lives in DART, and loans move to institutional buyers through. Figure Technology Solutions: The deciding question is whether you adopt Figure’s rails end to end. MIAC Analytics: MIAC has done mortgage valuation and analytics since 1989, split about evenly between software and services. MIAC Analytics: MarketShield covers pipeline hedging analytics, loan-level pricing, spec pool valuation and execution oversight. MIAC Analytics: Around it sit the CORE behavioural models plus collateral management, securitization, CECL and due diligence tools. MIAC Analytics: Services span independent fair value opinions, due diligence, asset sales and hedge advisory, the usual first engagement. MIAC Analytics: Choose MIAC when the number has to hold up with an auditor and independence matters.

The short answer

Figure Technology Solutions finishes ahead on the published rubric, 3.6 to 3. The margin comes mostly from Production impact. Same rubric, same weights, no sponsorships.