Community bank partners with digital platform to simplify
home loan process for manufactured home market
NASHVILLE, Tenn., Feb. 15,
2023 /PRNewswire/ -- Today, Nashville-based FirstBank announced an
investment in Zippy, the fintech company offering fully
digital, fast and seamless manufactured home loans. Through this
investment, FirstBank furthers its commitment to innovative
community-minded banking solutions by pairing its expertise with
Zippy's industry-first technology to broaden opportunities for
affordable homeownership.
"FirstBank has extensive experience in manufactured home lending
and has invested in fintech partnerships that enable us to offer
innovative solutions that meet the needs of our customers," said
Wade Peery, Chief Innovations
Officer at FirstBank. "In today's housing market, finding new paths
to affordable homeownership is critical. This partnership will make
buying a home possible for many new individuals and families."
Zippy is currently available in nine states including
Texas, Arizona, Kansas, Missouri, Virginia, Georgia, Alabama, Indiana and Michigan with plans to more than double its
footprint in 2023. Many of the loans Zippy helps customers access
are for community-sold homes in master-planned communities that
provide homeowners with amenities including community pools,
workout facilities, playgrounds and more. These manufactured homes
are well-built and offer much-needed affordability amidst the
nation's current housing crisis.
Zippy is co-founded by bankers-turned-community owners CEO
Ben Halliday and COO and President
Jordan Bucy, who left careers at JP
Morgan after jointly acquiring a manufactured home community.
Through a four-year renovation project to revitalize and restore
the community, the founders gained a deep respect for the
manufactured housing model while also discovering the challenges
facing the industry. As a result, they built a first-of-its-kind
online platform that can originate competitive loans in as little
as five days.
"Whether you're a homebuyer or community operator, Zippy
provides a fully digital and seamless lending experience," said
Halliday. "We are grateful for FirstBank's investment and continued
partnership, as it will be a pivotal part in helping more families
move into quality, energy-efficient and well-constructed
manufactured homes."
"As home prices continue to rise, we understand how important it
is to make affordable housing more accessible within the
communities we serve," said Chris
Holmes, President & CEO of FirstBank. "By teaming up
with Zippy, FirstBank is creating pathways to homeownership for its
customers."
About FirstBank
FirstBank, a wholly owned subsidiary of FB Financial Corporation
(NYSE: FBK), has approximately $12.8
billion in total assets, ranking it in the top 3% of all
U.S. commercial banks. Since 1906, local banking has remained at
the forefront of FirstBank's approach to serving businesses,
families, and individuals within the communities it calls home.
FirstBank is headquartered in Nashville,
Tennessee, and has 82 full-service branches across
Tennessee, South Central Kentucky,
Alabama and North Georgia along with mortgage offices
throughout the Southeast.
About Zippy
Zippy is a fintech company offering fully
digital, fast and seamless manufactured home loans. Through Zippy's
first-to-market full-stack digital lending platform, the company is
providing an innovative solution for Manufactured Housing Community
Operators and providing a modern and accessible experience for home
buyers. Founded in 2021 by bankers-turned-community operators, CEO
Ben Halliday, and President and COO,
Jordan Bucy, Zippy's team is
composed of mission-driven seasoned industry professionals working
to expand housing affordability through modern lending
solutions.
Contact: Staci
Kirpach
Staci.Kirpach@FinnPartners.com
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SOURCE FirstBank