POPA ReconPlume Launches nPRIME: Real Estate-Backed Yield from Figure
Plume Launches nPRIME: Real Estate-Backed Yield from Figure Plume has launched nPRIME, a vault that gives crypto users yield from Figure's $30B home loan market. Figure issues home equity loans (HELOCs) that sit on its books for ~42 days before they're sold to long-term investors. Through Democratized Prime, DeFi users fund that gap instead of banks. PRIME's base rate is around 7.5% APY, minus a 50 bps Hastra fee. The pool is over-collateralised with an average loan-to-value of 68%, and loans that fall 60+ days delinquent are removed from the collateral. The yield comes from real mortgage-st…
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