September 2021 – Page 2

TEXAS PORTFOLIO

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LINKS TO PRIVY ASSET REPORTS AND REALTYTRAC ASSET REPORTS 210 S Austin, Wolfe City, TX $105,000 10% CAP 3BR ▪ 2BA ▪ 1250SF ▪ $900 Rent Privy Asset Report: https://app.accessprivy.com/email/u6a072dcebb607d3322e5593051fb9d5cp RealtyTrac Report: https://www.realtytrac.com/homes/tx/hunt/wolfe-city/75496/210-s-austin-st-164966837?preForeclosure=true&auction=true&bankOwned=true&notInForeclosure=false&notYetListed =true&listedForSale=false&recentlySold=false&listedOnlineAuction=true Excellent opportunity to add this property to your existing rental portfolio. Property is currently tenant occupied. Low maintenance, low taxes and cash flowing rental. Located in Hunt County, roughly 70+ miles northeast of downtown Dallas. This property is one of 6 other occupied cash flowing rentals available for sale. Property manager available to stay with the property if buyer is interested. 303 South Manson, Wolfe City, TX Duplex – $150,000 10% CAP Unit 1: 2BR ▪ 2BA ▪ 993 SF $700 Rent Unit 2: 2BR ▪ 2BA ▪ 993 SF $660 Rent Privy Asset Report: https://app.accessprivy.com/email/ub4599e46bbc2bc6e3346dc6a2d590248p RealtyTrac Report: https://www.realtytrac.com/homes/tx/hunt/wolfe-city/75496/303-s-manson-st-167095218?preForeclosure=true&auction=true&bankOwned=true&notInForeclosure=false&notYetListed =true&listedForSale=false&recentlySold=false&listedOnlineAuction=true Excellent opportunity to add this property to your existing rental portfolio. Property is currently tenant occupied. Low maintenance, low taxes and cash flowing rental. Located in Hunt County, roughly 70+ miles northeast of downtown Dallas. This property is one of 6 other occupied cash flowing rentals available for sale. Property manager available to stay with the property if new buyer is interested. 504 West Main St, Wolfe City, TX $120,000 10% CAP 3BR ▪ 2BA ▪ 2100 SF ▪ $950 Rent Privy Asset Report: https://app.accessprivy.com/email/ud94d5d1e922ce1e32bb6199e2c3cf6bfp RealtyTrac Report: https://www.realtytrac.com/homes/tx/hunt/wolfe-city/75496/504-w-main-st-167095254?preForeclosure=true&auction=true&bankOwned=true&notInForeclosure=false&notYetListed =true&listedForSale=false&recentlySold=false&listedOnlineAuction=true Excellent opportunity to add this property to your existing rental portfolio. Property is currently tenant occupied. Single family Property offers. Low maintenance, low taxes and cash flowing rental. Located in Hunt County, roughly 70+ miles northeast of downtown Dallas. This property is one of 6 other occupied cash flowing rentals available for sale. Property manager available to stay with the property if new buyer is interested. 309 1st Street, Windom, TX $79,500 10% CAP 2BR ▪ 1BA ▪ 1050SF ▪ $700 Rent Privy Asset Report: https://app.accessprivy.com/email/u4335c0272ba60aec436e4a268feb2511p RealtyTrac Report: https://www.realtytrac.com/homes/tx/fannin/windom/75492/309-1st-211437129?preForeclosure=true&auction=true&bankOwned=true&notInForeclosure=false&notYetListed =true&listedForSale=false&recentlySold=false&listedOnlineAuction=true Excellent opportunity to add this property to your existing rental portfolio. Property is currently tenant occupied. Low maintenance, low taxes and cash flowing rental. Located in Fannin County, roughly 70+ miles northeast of downtown Dallas. This property is one of 6 other occupied cash flowing rentals available for sale. Property manager available to stay with the property if new buyer is interested. 1331 Business Hwy 121, Randolph, TX $85,000 10% CAP 2BR ▪ 1BA ▪ 1050SF ▪ $800 Rent Privy Asset Report: https://app.accessprivy.com/email/u3020ef7d1ac7d5a3944c920f1e6d8bdcp RealtyTrac Report: https://www.realtytrac.com/homes?preForeclosure=true&auction=true&bankOwned=true&notInForeclosure=false&notYetListed =true&listedForSale=false&recentlySold=false&listedOnlineAuction=true Excellent opportunity to add this property to your existing rental portfolio. Property is currently tenant occupied. Low maintenance, low taxes and cash flowing rental. Located in Fannin County, roughly 70+ miles northeast of downtown Dallas. This property is one of 6 other occupied cash flowing rentals available for sale. Property manager available to stay with the property if new buyer is interested. 601 N. Piney, Dodd City, TX $89,500 10% CAP 3BR ▪ 1BA ▪ 1152SF ▪ $750 Rent Privy Asset Report: https://app.accessprivy.com/email/u6f2263cbe3564a03308b8be790098ca5p RealtyTrac Report: https://www.realtytrac.com/homes/tx/fannin/dodd-city/75438/601-n-piney-st-215041213?preForeclosure=true&auction=true&bankOwned=true&notInForeclosure=false&notYetListed =true&listedForSale=false&recentlySold=false&listedOnlineAuction=true Excellent opportunity to add this property to your existing rental portfolio. Property is currently tenant occupied. Low maintenance, low taxes and cash flowing rental. Located in Fannin County, roughly 70+ miles northeast of downtown Dallas. This property is one of 6 other occupied cash flowing rentals available for sale. Property manager available to stay with the property if new buyer is interested.

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A leader in technology-enabled solutions to the financial services industry expands platform capabilities Covius Holdings, Inc. (“Covius”), a leading provider of technology-enabled solutions to the financial services industry, announced that it has reached an agreement to acquire Palm Harbor, Florida-based Nationwide Title Clearing, Inc. (“NTC”), a leading, national lien release provider. The transaction is expected to close early in the fourth quarter, subject to customary closing conditions. The terms of the agreement were not disclosed. Founded in 1991, NTC is one of the leading providers of lien release and other document production services as well as research and file services for originators, servicers and the capital markets sector. Its primary products and services include: Lien release services and post-closing document production Collateral research and property reports Capital markets transaction and file services Default servicing and title curative solutions Upon closing of the transaction, approximately 670 NTC associates will join Covius, including the company’s senior management. Rob Clements, Chairman and Chief Executive Officer of Covius Holdings, said, “For 30 years, NTC has been a trusted provider of high-quality post-closing services to originators, servicers and the capital markets sector. This acquisition significantly expands Covius’ post-closing capabilities, in the same way last year’s Clayton acquisition scaled our due diligence offerings. Similarly, Covius’ technology suite can be applied to NTC operations to further increase efficiency. We welcome our new associates from NTC and the experience and capabilities they will bring to our combined clients.” John Surface, President and Chief Operating Officer of Covius Holdings, added, “Over the past three years, Covius has continued to build out our platform of tech-enabled offerings through acquisitions and organic growth. Our robust solutions span origination, servicing and capital markets segments, offering loss mitigation and loan modification services, document and critical borrower communications, title and settlement services, auction and REO asset disposition, verifications and due diligence. NTC’s market-leading solutions strategically complement Covius’ existing broad offerings.” “With a longstanding reputation for quality, NTC is confident in the benefits that this strategic transaction will offer to our clients and employees, as well as the cultural fit between our organizations,” said John Hillman, NTC’s Chief Executive Officer and a 25-year veteran. “NTC strengthens Covius’ offerings while improving the experience of our current clients through technology enhancements and complementary solutions under a single agreement and broader resources. We are excited for this strategic opportunity and look forward to future growth.” Evercore acted as Covius’ financial advisor and Willkie Farr & Gallagher as legal advisor in connection with the transaction. Carr, Riggs & Ingram acted as advisor to NTC. About NTCNationwide Title Clearing, Inc. (NTC) is the leading research and document-processing service provider to the residential mortgage industry. NTC services the nation’s top mortgage lenders, servicers, investors and custodians. NTC has won the Tampa Bay Times Top 100 Workplace Designation six times and been listed among the top 200 companies in Tampa Bay. For more information, visit www.nwtc.com. About CoviusCovius is a trusted provider of services, insight and technology to leading financial companies. Covius’ technology-enabled solutions deliver operational efficiencies, mitigate risk and empower compliant decisions and borrower interactions. Covius businesses are recognized leaders in loss mitigation, document and data solutions, title and settlement services, compliance and critical borrower communications, lien release tracking and preparation, HOA and tax tracking, quality assurance, REO asset management and auction services, credit reporting and verification, capital markets due diligence and oversight, insurance policy analysis as well as rapid-development, customizable cloud-based business process solutions. The company was named a 2021 HousingWire Tech100 winner. For more information about the company and its services, visit www.covius.com.

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Raises Concerns about Future Supply Survey data released by the National Rental Home Council (NRHC) show small rental home property owners continue to experience significant hardship because of the COVID health crisis and related government response measures. In particular, fully one-third of individual single-family rental homeowners indicated that they had sold or planned to sell one or more of their properties, an increase of 10-percentage points from an earlier version of the survey conducted in February. Additionally, 25% of rental homeowners who sold at least one property claimed to do so as a direct result of government-mandated eviction moratoria. Key findings from the survey include: Over half (54%) of single-family rental homeowners have received less than full rent (59% African American owners; 63% Hispanic owners). Over 60% of single-family rental homeowners say that missing rent has had a negative impact on their ability to pay ongoing property and maintenance bills – an increase from the prior survey conducted in February. 56% of single-family rental homeowners have created a payment plan for residents and 37% have proactively forgiven some amount of rent. 2/3 of owners who have sold properties charged rent of less than $1,250/month. The eviction moratorium likely reduced affordable housing options: 59% of single-family rental homeowners agree that government-mandated eviction moratoria have negatively impacted their current ability to provide affordable housing options now, and 63% think they will continue to negatively impact their ability to do so in the future. Eviction moratoria likely decreased the total supply of single-family rental homes: 79% of property owners who have sold at least one single-family rental home have sold to an owner who will not use the property for rental housing. One quarter of single-family rental homeowners plan to tighten application standards as a result of moratoria and other government mandates. “The results of this survey are startling and show there is a very real issue with the ongoing supply of rental housing in this country,” said David Howard, executive director of NRHC. “Single-family homes account for over half the rental housing in the United States, with nearly 85% of properties owned by individuals and small proprietors. If one-third of those owners have sold or are considering selling – particularly at a time when demand for single-family rental housing is increasing – we have a serious challenge in front of us.” “We need policy solutions to encourage and incentivize the accelerated development and ownership of both owner-occupied and rental housing. Single-family rental home providers, large and small, play an important role in meeting the demands of a vibrant and diverse population of housing consumers. With housing, more choices are better; and single-family rental homes provide an option that meets the financial and lifestyle needs of many Americans in search of quality, affordable, well-located housing.” About NRHCThe 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. For more information on NRHC or the single-family rental home industry visit www.rentalhomecouncil.org

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Premier Property Management Group Grows as Remote Real Estate Investing Increases REI Nation, the largest turnkey real estate investment company in the U.S., announced it is expanding its property management services across its existing 11 markets and adding Austin and Nashville to its footprint. The company’s property management division, Premier Property Management Group, which was established to support REI Nation owner-investors, will now offer its services to any owners of single-family rental properties, regardless of their affiliation with REI Nation. In addition to the new Nashville and Austin presence, the company operates in Memphis, Dallas-Fort Worth, Houston, San Antonio, Huntsville, Birmingham, Tuscaloosa, Oklahoma City, Tulsa, Little Rock and St. Louis. The move to expand property management services is in direct response to increasing demand from single-family rental property owners. As part of its complete turnkey services for remote real estate investing, REI Nation connects investors with single-family rental properties, upgrades the homes for maximum rental income, secures the renters, and provides ongoing property management. “We know from the feedback we receive from our existing investor-owners that the way we approach property management is a cut above, and we’re delighted to expand our offerings to all single-family rental properties across our network,” said REI Nation Partner Chris Clothier. “Investors, especially those who have out-of-town properties, need a reliable resource that takes great care of the homes they own and the people who live in them. We have a proven track record with performance statistics that speak for themselves,” he added. According to the most recent data, the company has an average length of stay of almost seven years, an average vacancy rate of less than 2% and a lease renewal rate of 78%. REI Nation works with property owners from across the globe who invest in single-family rental properties as a passive income stream. The majority of owners invest in remote properties located away from where they live. As a result, services for turnkey real estate investing and remote property management have grown in popularity for those who want to invest in one or several single-family homes, but who don’t have the time, expertise or geographic proximity to manage the day-to-day requirements. With the expansion of its property management services to any and all property owners, the company can take advantage of this industry growth. According to Clothier, the company’s locally based property management services have been a critical component of its significant growth over the last several years. “Unlike many turnkey real estate investment companies that use an outsourcing model, we provide property management services that ensure properties and tenants are cared for by our own committed, local resources,” he said. “That commitment to protecting owners’ real estate investments has helped us grow our turnkey model, and, as a result, increased the demand for our property management services as a stand-alone offering.” For more information, visit https://www.reination.com/property-management/premier-property-memphis. About REI Nation REI Nation is the largest turnkey real estate investment company in the U.S. with more than 6,800 properties under management, more than 2,400 property owners, and $1.13 billion in residential rental property assets under management. The company provides individual real estate investors with end-to-end, turnkey solutions, including finding potential rental properties, analyzing ROI and revenue potential, managing required renovations, securing and vetting renters, and providing ongoing property management services through its Premier Property Management Group. REI Nation publishes The Grind, a free subscriber-based platform and podcast offering tips and tactics designed for investors and entrepreneurs who want to increase their success in business and real estate. Memphis-based REI Nation, formerly Memphis Invest, was founded in 2003 and is privately held. More information can be found at reinationcom.

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Fintech Platform Adds Latest Offering for Renters Jetty, the financial services company on a mission to make renting a home more affordable and flexible, announced the launch of Jetty Rent, a new product that removes the cost burden of expensive late fees by giving renters the flexibility to choose when they pay their rent. This latest offering on the Jetty platform was developed and brought to market with the backing of a new, $23M equity financing round from investors that include Citi and Flourish Ventures. According to data from the National Multifamily Housing Council (NMHC), in the first six months of 2021 an average of 21% of renters failed to pay their rent by the 6th of the month*, a cutoff date that would typically trigger late fees from property owners. The federal eviction moratorium restricted the charging of late fees, but with the moratorium now partially lifted, many renters will once again be facing this financial challenge. “It’s a tricky situation—property managers need predictable cash flow to meet their financial obligations, yet forcing renters to meet rigid, first-of- the-month payment dates doesn’t reflect the financial realities of today’s renter population,” said Mike Rudoy, Co-Founder and CEO of Jetty. “We solved this monthly headache with Jetty Rent, which gives renters more flexibility with payment while at the same time offering property managers the reliable cash flow they need.” With Jetty Rent, Jetty will pay rent on behalf of renters on the first of the month and renters will then have until the 24th of each month to repay Jetty, which they can do in one lump sum or through installments. To launch Jetty Rent, the company partnered with Cortland, a top 20** real estate investment, development and management company, who rolled out the offering to residents across a portfolio of properties. “At Cortland, we’re focused on improving the resident experience, and the process of paying rent is a massive part of that,” said Jonathan Kirn, Director of Ancillary Services at Cortland. “Jetty Rent makes life easier on our residents and takes the burden of rent collection off our shoulders—it’s a true win-win.” Jetty Rent is the latest product to be offered by Jetty. The company also offers low-cost renters insurance as well as its industry-leading security deposit replacement, Jetty Deposit. “We’re seeing overwhelming demand from renters and property managers alike for new financial services across the entire renter lifecycle,” said Rudoy. “Our team is working toward building the most all-encompassing financial services platforms for the rental market. From Jetty Deposit to Jetty Protect to now Jetty Rent, our platform is unrivaled in the industry.” Emmalyn Shaw, Managing Partner at Flourish Ventures, added: “Embedded finance platforms like Jetty are quickly becoming one of the most influential technology trends taking place around the world—one where the customer’s experience with such things as online payments and loans comes first. We’re thrilled to back the Jetty team as they continue to develop their fintech platform and product offerings to help reach those who need relief and flexibility with meeting housing costs.” Jetty Rent loans are made by Cross River Bank, an Equal Housing Lender, Member FDIC. All new Jetty Deposit bonds are backed by Farmers Insurance®. * Source: NMHC Rent Payment Tracker ** Source: NMHC Top 50 Apartment Managers About JettyJetty is the financial services platform on a mission to make renting a home more affordable and flexible. Jetty’s integrated suite of products helps property managers increase lease conversions, improve resident retention, reduce bad debt, and boost NOI. For renters, Jetty decreases the financial burden of moving into a new home and offers greater flexibility with how and when to pay rent. To learn more about Jetty, visit jetty.com.

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Foreclosure Starts Increase 27 Percent from Last Month; While Completed Foreclosures Increase 22 Percent from Last Year ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosure and distressed properties, released its August 2021 U.S. Foreclosure Market Report, which shows there were a total of 15,838 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 27 percent from a month ago and up 60 percent from a year ago. Numbers reflect the first month since the government moratorium has lifted. “As expected, foreclosure activity increased as the government’s foreclosure moratorium expired, but this doesn’t mean we should expect to see a flood of distressed properties coming to market,” said Rick Sharga, Executive Vice President at RealtyTrac, an ATTOM company. “We’ll continue to see foreclosure activity increase over the next three months as loans that were in default prior to the moratorium re-enter the foreclosure pipeline, and states begin to catch up on months of foreclosure filings that simply haven’t been processed during the pandemic. But it’s likely that foreclosures will remain below normal levels at least through the end of the year.” Illinois, Nevada, and New Jersey had the highest foreclosure rates Nationwide one in every 8,677 housing units had a foreclosure filing in August 2021. States with the highest foreclosure rates were Illinois (one in every 3,848 housing units with a foreclosure filing); Nevada (one in every 4,738 housing units); New Jersey (one in every 4,868 housing units); Delaware (one in every 5,348 housing units); and Ohio (one in every 5,517 housing units). Among the 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in August 2021 were Bakersfield, CA (one in every 1,796 housing units with a foreclosure filing); Atlantic City, NJ (one in every 1,886 housing units); Cleveland, OH (one in every 2,259 housing units); Rockford, IL (one in every 3,037 housing units); and Las Vegas, NV (one in every 3,718 housing units). Those metropolitan areas with a population greater than 1 million with the worst foreclosure rates in August 2021 included Cleveland, OH and Las Vegas, NV were: Chicago, IL (one in every 3,754 housing units); Riverside, CA (one in every 4,098 housing units); and Birmingham, AL (one in every 4,649 housing units). Foreclosure starts increase 27 percent from last month Lenders started the foreclosure process on 8,348 U.S. properties in August 2021, up 27 percent from last month and up 49 percent from a year ago. “While foreclosure starts increased significantly compared to last month and last year, it’s very important to keep these numbers in context,” Sharga noted. “Both last year’s and last month’s foreclosure starts were artificially low due to the government’s moratorium. But in August of 2019, the last year we had ‘normal’ foreclosure activity, there were almost 28,000 foreclosure starts – over three times more than this year.” States that had the greatest number of foreclosure starts in August 2021 were California (1,240 foreclosure starts); Texas (1,060 foreclosure starts); Florida (643 foreclosure starts); Illinois (506 foreclosure starts); and New York (479 foreclosure starts). Those major metropolitan areas with a population greater than 1 million with the greatest number of foreclosure starts in August 2021 included New York, NY (486 foreclosure starts); Chicago, IL (439 foreclosure starts); Los Angeles, CA (401 foreclosure starts); Houston, TX (322 foreclosure starts); and Dallas-Fort Worth, TX (248 foreclosure starts). Foreclosure completion numbers increase across the board Lenders repossessed 2,474 U.S. properties through completed foreclosures (REOs) in August 2021, up 2 percent from last month and up 22 percent from last year. States that had at least 100 REOs in August 2021 and saw the greatest monthly increase included: New York (up 136 percent); Michigan (up 62 percent); Illinois (up 24 percent); Florida (up 19 percent); and Texas (up 13 percent). Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest number of REOs in August 2021 included Chicago, IL (177 REOs); New York, NY (84 REOs); Detroit, MI (78 REOs); Baltimore, MD (58 REOs); and Tampa, FL (43 REOs). Interested in finding out more about our pre-foreclosure and foreclosure data? Contact ATTOM for Foreclosure Data Licensing Details. Visit RealtyTrac.com for Foreclosure Search and Listings. About ATTOM ATTOM provides foreclosure data licenses that can power various enterprise industries including real estate, insurance, marketing, government, mortgage and more. ATTOM multi-sources from 3,000 counties property tax, deed, mortgage, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. About RealtyTrac (Powered by ATTOM’s Property Data) RealtyTrac.com is the largest online marketplace for foreclosure and distressed properties, helping individual investors and real estate agents looking to gain a competitive edge in the distressed market. Realtytrac.com enables real estate professionals the ability to find, analyze and invest in residential properties.