Home and Design
EasyKnock | August 17, 2023
Ribbon, powered by EasyKnock, announces today that RibbonCash – its pioneering cash offer solution – has relaunched in Atlanta and Charlotte.
As one of the pioneers of powerbuying solutions, Ribbon has considered Atlanta and Charlotte as its historical home base, driving the company’s success since its founding in 2017. Ribbon’s product reached around 2 percent of the overall closings in the Atlanta market in 2022, an achievement indicative of the appetite for homeownership.
“The EasyKnock and Ribbon teams could not be more excited to announce the return of RibbonCash to Charlotte and Atlanta,” said Jarred Kessler, CEO of EasyKnock. The Southeast in general remains competitive according to Bankrate’s Housing Heat Index. According to the index, despite price declines elsewhere in the United States, the Southeast has held steady due to comparatively affordable prices. Ribbon aims to tap into this reality for everyday homebuyers who seek ways to achieve homeownership for themselves or their family.
“We believe the Southeast maintains a culture of homeownership that withstands shifts in the market. Mortgage rates and inventory may ebb and flow, but achieving homeownership - and seeking the leading tools to compete - has not,” Kessler said.
“We continue to be bullish on Atlanta, Charlotte, and the Southeast overall.” By working with real estate agents and loan officers, and not competing with them as a direct-to-consumer offering like iBuyers, Ribbon sustains its reputation for empowering the real estate ecosystem.
EasyKnock acquired the assets of Ribbon in 2023. Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience.
Together, Ribbon and EasyKnock are ushering in a new chapter for the real estate industry, creating a one-stop shop for financial solutions that serve homeowners, buyers, and sellers across the country.
EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. In 2023, EasyKnock acquired the assets of Ribbon Home and continues to offer Ribbon products to customers.
Real Estate Investment, Mortgage and Lending
Globenewswire | July 07, 2023
The National Rental Home Council (NRHC), the trade association representing the single-family rental home (SFR) industry, and Esusu, the leading fintech company leveraging rent reporting for credit-building, announced a groundbreaking partnership. Esusu will offer its financial health platform to residents in single-family rental homes owned and operated by NRHC members, aiming to improve their livelihood and financial well-being.
This collaboration between Esusu and NRHC is a pivotal moment in the rental home industry. By enabling rent reporting, both organizations champion financial inclusion and empower renters to build credit histories that can transform their lives. Rent reporting provides SFR residents with a unique opportunity to establish and enhance their credit profiles, granting improved access to credit, mortgages, and other financial services that were previously out of reach. The impact of this partnership extends beyond individuals and will benefit communities across the country and the industry as a whole.
Since its establishment in 2018, Esusu has empowered millions of renters to improve their credit scores by reporting on-time rent payments to major credit bureaus. Alongside credit-building opportunities, the Esusu platform offers renters comprehensive tools, including financial literacy content, community resources, and rent relief funds to navigate financial emergencies. With this partnership, Esusu will significantly expand its reach within the growing SFR industry, addressing the needs of a vast and diverse segment of the population that has often been underserved.
NRHC, known for its commitment to advancing the SFR industry and fostering sustainable communities, recognizes the immense potential of rent reporting as a catalyst for positive change. By partnering with Esusu, NRHC demonstrates its dedication to improving the financial well-being and stability of SFR residents, encouraging SFR owners and operators to provide this meaningful and differentiated amenity to their residents.
“Esusu and NRHC share an unwavering commitment to preserving economic mobility and fortifying the financial fabric of neighborhoods throughout the nation,” emphasized Samir Goel and Wemimo Abbey, Co-Founders and Co-CEOs of Esusu. “This momentous partnership will empower communities across the country to tap into Esusu's comprehensive platform for resident financial health. By joining forces with NRHC, we aim to catalyze significant strides towards our vision of bridging the racial wealth gap and paving pathways to prosperity for residents in single-family rental homes.”
“NRHC is proud to be at the forefront of this transformative partnership with Esusu,” said David Howard, CEO of NRHC. “Together, we are ushering in a new era of financial empowerment for residents of single-family rental homes. By embracing rent reporting, we are laying the foundation for a more inclusive and equitable housing landscape, ensuring that all residents have the opportunity to achieve their financial goals."
“Progress Residential is proud to have been a pioneer in offering positive rent reporting in the single-family rental industry through our partnership with Esusu,” said Adolfo Villagomez, Chief Executive Officer of Progress Residential. “Since launching in March 2022, 57 percent of our participating residents have seen increases in their credit scores, and more than 5,000 residents established first time credit scores, unlocking greater financial potential. We commend NRHC for advocating for the expansion of rent reporting, and we are excited about the transformative impact today’s announcement will make on the financial well-being of so many individuals and families across the SFR industry."
“We are pleased to work directly with Esusu on free reporting of positive rent payments for our residents, and this partnership between NRHC and Esusu is a powerful build that provides many SFR residents the full suite of financial planning tools that Esusu offers,” said Dallas Tanner, CEO of Invitation Homes. “Our residents appreciate the choice and flexibility offered by a single-family rental home, and the partnerships with Esusu offer tools that can further help SFR residents realize their financial goals.”
The collaboration of all involved is a testament to their shared vision of a future where financial opportunities are accessible to all, regardless of socioeconomic background. This historic partnership will propel the industry forward, empowering millions of SFR residents and fostering a more prosperous and inclusive society.
Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu's rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 4 million rental units across all 50 states in the United States.
The National Rental Home Council (NRHC) is the nonprofit trade association representing the single-family rental home industry. NRHC members provide families and individuals with access to high-quality, single-family rental homes that contribute to the vitality and vibrancy of neighborhoods and communities.
Market Outlook, Mortgage and Lending
Businesswire | July 10, 2023
Today, Valligent a market-leading appraisal management company, recently acquired by VerosTM, an industry leader in enterprise risk management and collateral valuation services, announced their integration to the ICE Mortgage Technology™ Platform. Through this integration, mortgage industry stakeholders have the most efficient access to all collateral valuation related products and services.
The combined forces of Valligent and Veros provide lenders with a unified ecosystem of solutions for a compliant, efficient, and accurate valuation process. By partnering with Valligent and leveraging the ICE Mortgage Technology® Platform, lenders will have access to a seamless technology solution that can solve all property valuation and collateral risk management needs. A full spectrum of valuation products is available including traditional appraisals, AVMs, desktop valuations, and the only 4-hour Evaluation product for equity lending.
“Integrating with Encompass® by ICE Mortgage Technology® was always part of the plan when we acquired Valligent,” said Darius Bozorgi, CEO of Veros Software. “Providing a streamlined experience with our full spectrum of appraisal, valuation data and analytics and related collateral risk management solutions has always been our priority. Our partnership with ICE Mortgage Technology enables Veros and Valligent to drive more efficiency for all our customers. Collectively, we can expand our products and services to meet the demands of the digital mortgage industry.”
Founded in 2003 and headquartered in Roseville, California Valligent established itself as a leader in appraisal, alternative valuation, QC and Regulatory Audit solutions. Utilizing a combination of experienced property valuation personnel, automation, Artificial Intelligence, powerful functionality, and mobile technology, Valligent is dedicated to making the property valuation process simple and efficient for everyone involved. Valligent provides comprehensive valuation technology expertise and services to hundreds of banks, credit unions, mortgage lenders and insurance companies nationally. We have developed a state-of-the-art valuation technology platform, fully integrated with best-in-class data providers, Loan Origination Systems (LOS) and on-demand cloud computing platforms and API providers. For more information, visit valligent.com.
A mortgage technology innovator since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros’ services include automated valuation, fraud, and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal® (UCDP®). Veros also works closely with the FHA to support its Electronic Appraisal Delivery (EAD) portal. The company is also making the home buying process more efficient for our nation’s Veterans through its appraisal management work with the Department of Veterans Affairs.
About ICE Mortgage Technology
ICE Mortgage Technology® is part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds, and operates digital networks to connect people to opportunity. Backed by ICE’s global resources, we offer a truly differentiated digital platform that provides straight-through processing for a more comprehensive end-to-end workflow than any other provider in the market. We reach almost every mortgage in the U.S. by combining the native automation of Encompass® with the e-collaboration and e-recording capabilities of Simplifile®, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS®. Ultimately, our technology enables people across the industry to focus on personal connections when they need it most, and support borrowers for a better journey of homeownership. Visit icemortgagetechnology.com to learn more. ICE Mortgage Technology combines technology, data, and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.