{"id":3498,"date":"2022-09-15T16:11:48","date_gmt":"2022-09-15T16:11:48","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/09\/15\/ribbon-launches-in-two-new-states\/"},"modified":"2025-03-13T02:46:49","modified_gmt":"2025-03-13T02:46:49","slug":"ribbon-launches-in-two-new-states","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/09\/15\/ribbon-launches-in-two-new-states\/","title":{"rendered":"Ribbon launches in two new states"},"content":{"rendered":"\n

Power-buying<\/a> firm Ribbon<\/strong> expanded into two new markets this week, announcing the launch of its Michigan operation on Monday and its Illinois operation on Thursday.<\/p>\n\n\n\n

Homebuyers and sellers in both states will now have access to the firm\u2019s cash offer program.<\/p>\n\n\n\n

\u201cRising mortgage rates are deterring or stalling many buyers\u2019 dreams to purchase a home,\u201d Shaival Shah, the CEO and co-founder of Ribbon, said in a statement about the firm\u2019s Michigan launch. “Without accessibility or affordability, buyers, sellers, agents and lenders are all impacted. Ribbon\u2019s mission is to make homeownership achievable for all.\u201d<\/p>\n\n\n\n

In Michigan, Ribbon will partner with Amerifirst Home Mortgage<\/strong> as its local lender and in Illinois it will partner with Fairway Independent Mortgage Corporation<\/strong>, powering Fairway\u2019s CashReady<\/strong> program.<\/p>\n\n\n\n

\u201cAn all-cash offer that is guaranteed to close, providing our clients the option to buy before selling their current home, means our buyers don\u2019t have to wait until they sell to begin looking for their next home,\u201d Michale Facchini, a branch manager at Fairway, said in a statement. \u201cIt\u2019s a big win for both buyers and sellers.\u201d<\/p>\n\n\n\n

Katie Lawrence, a branch manager at Amerifirst, added: \u201cRibbonCash Offers give Amerifirst loan officers another competitive resource\u2014which triples local homebuyers\u2019 chances of winning their bids\u2014to respond to the market and better serve client needs.”<\/p>\n\n\n\n

Ribbon is now operational in 17 states, and the firm says that it plans on expanding to half of the U.S. by the end of 2022.<\/p>\n\n\n\n

However, the firm has had its fair share of struggles. In late July, Ribbon laid off 136 employees<\/a>, citing the shifting market conditions<\/a>.<\/p>\n\n\n\n

\u201cThe market conditions exposed areas that need improvement across our product and team to evolve with the changing consumer,\u201d Shah wrote in a statement<\/a> at the time. \u201cI am ultimately responsible to all those decisions and this decision, as a result. The next phase of Ribbon will be more agile. We needed to define the team and systems to make this plan happen with operational excellence for the next several years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Power-buying firm Ribbon expanded into two new markets this week, partnering with Amerifirst Home Mortgage in Michigan and Fairway Independent Mortgage Corporation in Illinois.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-3498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nRibbon launches in two new states - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"Power-buying firm Ribbon expanded into two new markets this week, partnering with Amerifirst Home Mortgage in Michigan and Fairway Independent Mortgage Corporation in Illinois.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/preprod.realtrends.com\/blog\/2022\/09\/15\/ribbon-launches-in-two-new-states\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ribbon launches in two new states\" \/>\n<meta property=\"og:description\" content=\"Power-buying firm Ribbon expanded into two new markets this week, partnering with Amerifirst Home Mortgage in Michigan and Fairway Independent Mortgage Corporation in Illinois.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/preprod.realtrends.com\/blog\/2022\/09\/15\/ribbon-launches-in-two-new-states\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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