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ServiceLink Welcomes Hemanth Panyam As Senior Vice President of Product Innovation

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ServiceLink is reinforcing its commitment to innovative technology enhancements and expanding its best-in-class products and services with the appointment of Hemanth Panyam as its senior vice president of product innovation. Panyam, a data-oriented, hands-on leader, has more than 20 years of product innovation, management and strategy experience. Over the course of his career, he launched multiple 0-1 products and scaled numerous SaaS technology products for some of the nation’s largest technology-led services and businesses in the healthcare and financial sectors. His extensive expertise in product management and strategy includes scaling multiple SaaS and technology consulting businesses from $0 to $300 million in revenue across various industries and geographies. In this role, Panyam will be responsible for bringing new, innovative products and services to life at ServiceLink, teaming up with operations and sales to meet the needs of our clients. He will report directly to chief technology officer Kiran Vattem and build a team that is focused on systematically identifying ways to improve and innovate the mortgage space through products and services. “I am excited to bring my extensive knowledge and experience to ServiceLink that is grounded in technology and innovation that challenges the status quo. I look forward to deeply examining client-consumer touchpoints to analyze and then create disruptive innovations that will impact the mortgage landscape,” Panyam said. “I want to make a meaningful impact in people’s lives by removing friction and elevating their experience in the mortgage space.” Over the course of his career, Panyam worked across the healthcare, retail and fintech industries, building cutting-edge technology products. His efforts have taken him across the world, where he founded, led and scaled the digital products and solutions for a U.S.-based Fortune 200 firm in Australia and New Zealand, built and exited a retail start up that he co-founded and played a pivotal role as the first member of the India team for a startup that went on to make waves in the healthcare technology space. He excels at creating multi-year product strategies and leading large teams through the build, launch and scale processes.

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The vast majority of respondents to a recent Redfin survey believe there should be caps on the amount landlords are allowed to increase rent, regardless of whether they’re Democrats or Republicans—however, Redfin economists say rent control worsens housing affordability in the long run More than four of every five U.S. residents (82%) believe there should be caps on the amount landlords are allowed to increase rent, according to a new survey commissioned by Redfin (redfin.com), the technology-powered real estate brokerage. The survey data in Redfin’s report is from a commissioned survey conducted by Ipsos in September 2024. The survey was fielded to 1,802 renters and homebuyers aged 18-65, including 188 who live in California. Caps on rent increases, also known as rent control, give governments the authority to put a lid on how much landlords are allowed to increase rent each year. The White House proposed a federal rent control policy in July; the policy would cap rent increases on existing units at 5% nationwide. Only seven states and Washington, D.C. currently have state or local rent control policies in place. The vast majority of respondents believe there should be caps on the amount landlords are allowed to increase rent, regardless of their political affiliation or whether they own or rent the home they live in: Redfin economists say rent caps can increase rental costs because they make the supply shortage worse Although most of the people surveyed support rent caps, Redfin economists say that in reality, rent caps increase costs in the long run. “Rent control sounds appealing for renters in theory because it limits price increases and saves money in the short term, but it eventually worsens rental affordability because it exacerbates the supply shortage,” said Chen Zhao, Redfin’s economic research lead. “If rent increases are capped below the amount developers would need to make a profit, they have little incentive to build more apartments and homes. The best way to make rentals more affordable is to build more units.” 78% of Californians support rent control Nearly four of every five respondents who live in California (78%) believe there should be caps on rent increases, similar to the share for the U.S. as a whole. California already has statewide rent control: The Tenant Protection Act says landlords may not raise rent more than 5% plus the increase in cost of living (inflation) each year. Rent control is in the news in California in the run-up to the election because there’s a proposition on the November ballot that would allow cities to expand rent control. For instance, city governments could limit annual rent increases to less than 5%, and the state couldn’t intervene. To view the full report, including a chart, please visit: https://www.redfin.com/news/survey-homeowners-renters-support-rent-hikes

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ATTOM, a leading curator of land, property data, and real estate analytics, released its third quarter 2024 U.S. Home Equity & Underwater Report, which shows that 48.3 percent of mortgaged residential properties in the United States were considered equity-rich in the third quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values. That level was down from a recent peak of 49.2 percent hit in the second quarter of 2024. However, it was still up from 47.4 percent a year earlier and remained historically high, reflecting one of the enduring effects of a housing market boom around the nation that has lasted more than a decade. Much the same pattern emerged during the third quarter for the portion of home mortgages that were seriously underwater. Just 2.5 percent of mortgaged homes fell into that category, with combined estimated balances of loans secured by properties that are at least 25 percent more than those properties’ estimated market values. That was slightly worse than the 2.4 percent recorded in the prior quarter and the same is in the third quarter of 2023. “Homeowner equity typically mirrors home-price trends, and the third quarter of this year followed that pattern. Equity remained elevated as the value of residential properties has surged consistently over the years. However, it held steady this quarter, reflecting the cooling of earlier sharp price increases,” said Rob Barber, CEO for ATTOM. “Despite the flat pattern, home equity keeps providing a significant boost to the economy in the form of financial leverage that tens of millions of households can use to finance major purchases or investments.” He added that “we can expect to see small movements up or down over the coming months as the housing market moves into its annual slow season.” The latest equity pattern comes as the market remains strong throughout most of the nation but also faces a mix of forces that could either keep it going upward or flatten it out. Equity-rich shares of mortgages dip quarterly but remain up annually in majority of statesThe portion of mortgaged homes that were equity-rich during the third quarter of 2024, 48.3 percent, remained far above the 26.5 percent level recorded in early 2020. Although it decreased in 28 of the 50 U.S. states from the second quarter to the third quarter of 2024, typically by less than two percentage points, it continued to be up annually in 37 states. Annual increases generally tilted more toward low- and mid-priced markets around the country, concentrated in the Midwest and Northeast regions. The increases were led by Vermont (portion of mortgaged homes considered equity-rich increased from 79.8 percent in the third quarter of 2023 to 86.4 percent in the third quarter of 2024), West Virginia (up from 30.5 percent to 37 percent), Connecticut (up from 41.5 percent to 47.7 percent), New Jersey (up from 45.9 percent to 52 percent) and Rhode Island (up from 54.7 percent to 60.6 percent). At the other end of the scale, equity-rich levels declined more often in western states, led by Utah (down, year over year, from 56.8 percent to 52.4 percent), Arizona (down from 54.3 percent to 50 percent), Colorado (down from 51.1 percent to 48 percent), Washington (down from 56.7 percent to 54.6 percent) and Oregon (down from 52.7 percent to 50.8 percent). Seriously underwater mortgage levels change by small amounts in most statesThe portion of mortgaged homes considered seriously underwater across the U.S. barely changed during the third quarter. It stood at one in 40, which was up slightly from one in 42 during the second quarter but the same as a year earlier – and well below the ratio of one in 15 recorded in 2020. The rate worsened quarterly in 30 states, though it was still better annually in 24. The biggest annual improvements in seriously underwater mortgages came in Wyoming (share of mortgaged homes that were seriously underwater down from 5.9 percent in the third quarter of 2023 to 2.4 percent in the third quarter of 2024), West Virginia (down from 4.6 percent to 3.8 percent), Louisiana (down from 10.8 percent to 10.1 percent), Illinois (down from 4.4 percent to 4.1 percent) and New Jersey (down from 1.9 percent to 1.6 percent). On the flip side, the largest year-over-year increases in the percentage of seriously underwater homes during the third quarter of 2024 were in Kansas (up from 2.6 percent to 4.4 percent), Utah (up from 1.8 percent to 2.4 percent), South Dakota (up from 2.6 percent to 3.1 percent), Missouri (up from 3.9 percent to 4.3 percent) and Colorado (up from 1.7 percent to 2 percent). High-end markets clustered in Northeast and West continue to benefit from best equity-rich ratesThe 10 states with the highest levels of equity-rich mortgaged properties around the U.S. during the third quarter of 2024 again were in the Northeast or West regions. Those with the largest portions were Vermont (86.4 percent of mortgaged homes were equity-rich), Maine (62.2 percent), New Hampshire (61.1 percent), Rhode Island (60.6 percent) and Montana (60.5 percent). Nine of the 10 states with the lowest percentages of equity-rich properties during the third quarter of 2024 were in the Midwest or South. The smallest portions were in Louisiana (21.1 percent of mortgaged homes were equity-rich), Alaska (31.9 percent), North Dakota (33.2 percent), Maryland (33.2 percent) and Illinois (34 percent). Among 107 metropolitan statistical areas around the nation with a population of at least 500,000, upscale markets where median home values surpassed $450,000 topped the list of places with the highest portion of mortgaged properties that were equity-rich during the third quarter. See this ATTOM report for home values: Home Seller Profit Margins Drop Slightly Across U.S. as Housing Market Slows During Third Quarter They were led by San Jose, CA (68.7 percent equity-rich, with a third-quarter median home price of $1.5 million); Portland, ME (64.6 percent, with a median price of $520,000); San Diego, CA (64.1 percent, with a median price of $885,000); Los Angeles, CA (63.9 percent, with a median price of $949,375) and Buffalo, NY (63.7 percent, with a median price of $268,000). The leader in the South was Knoxville, TN (60.7 percent, with a median price of $345,949) while the Midwest was led again by Grand Rapids, MI (55 percent, with a median price of $327,520). Metro areas with the lowest percentages of equity-rich properties in the third quarter of 2024 remained mostly in lower-priced markets of the South and Midwest. The

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Commercial Foreclosures Increased 15 Percent from Last Month and 48 Percent from Last Year; States with the Most Commercial Foreclosures in September 2024 Included California, New York, and Florida ATTOM, a leading curator of land, property data, and real estate analytics, released an updated monthly report on U.S. Commercial Foreclosures. The report reveals that commercial foreclosures remain elevated and are still considerably higher than pre-pandemic figures. Starting in June 2023, foreclosure numbers saw a sharp increase, peaking at 752 in May 2024, before settling at 695 in ATTOM’s most recent data for September 2024. This recent surge suggests renewed financial stress or changes in commercial real estate dynamics. Historical U.S. Commercial Foreclosure Activity Historical Commercial Foreclosure OverviewThe historical data on commercial foreclosure activity from January 2014 through September 2024 reflects significant fluctuations, largely shaped by economic conditions and major events like the COVID-19 pandemic. The period from 2014 to 2015 was marked by consistently high commercial foreclosure numbers, peaking at 889 commercial foreclosures in October 2014. This early surge points to heightened financial distress in the commercial real estate sector during that time. However, a gradual decline began in 2016, with monthly commercial foreclosure totals falling below 500 by late 2016, continuing this trend into the years before the pandemic. The impact of COVID-19 is clearly reflected in the data for 2020. By April 2020, commercial foreclosure activity plummeted to just 144 as government interventions, moratoriums, and economic relief efforts took hold. Throughout 2020 and into early 2021, commercial foreclosure numbers remained at historically low levels. However, as pandemic-related measures were lifted and economic pressures resurfaced, commercial foreclosures began to rise again by mid-2021. By June 2023, commercial foreclosure activity saw a sharp resurgence, with numbers steadily climbing and reaching a peak of 752 in May 2024. This recent surge likely reflects ongoing financial challenges in the commercial real estate market, with factors such as rising interest rates, inflation, and shifts in demand for commercial spaces contributing to the increase. As of September 2024, the total stands at 695, signaling continued high commercial foreclosure activity, although slightly lower than earlier in the year. State-by-State Commercial Foreclosure ReviewIn September 2024, California led the nation with 264 commercial foreclosures, reflecting a 12% increase from the previous month and a staggering 238% jump compared to the same time last year. New York followed with 92 foreclosures, marking a 59% rise month-over-month and a 48% increase year-over-year. Florida recorded 70 commercial foreclosures, up 21% from the previous month and 49% higher than a year ago. Texas saw 45 foreclosures, a 15% increase from the previous month, though this was a 13% decline compared to last year. Pennsylvania had 32 foreclosures, experiencing a significant 129% spike month-over-month and a 33% rise year-over-year. Media Contact:Megan HuntMegan.hunt@attomdata.com SOURCE ATTOM

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Property Meld, the leading property maintenance operations platform, proudly announces a groundbreaking partnership with Lessen, the largest vendor provider in the nation, with a market value of $2 billion. As part of Property Meld’s revolutionary Vendor Nexus program, this partnership is set to drive even greater efficiency and value for property managers across the U.S. “Lessen’s partnership with Property Meld continues to show how Vendor Management and Sourcing can be solved by thinking out of the box and working with great operators like Lessen. We’re excited for their contributions as we continue to help Property Maintenance Operations take a leap forward,” Ray Hespen, CEO and Co-founder of Property Meld. Lessen, known for its nationwide network of over 30,000 qualified affiliates, has long been a leader in providing comprehensive solutions for property maintenance, repairs, and renovations. With technical integrations already underway, property managers using Property Meld can expect to see Lessen’s services available soon, giving them access to a vast network of top-tier professionals in core trades such as HVAC, plumbing, electrical, general handyman, and appliance repair. This strategic partnership will introduce Lessen’s network to property managers across multiple markets, expanding their access to high-quality vendors and creating new opportunities for operational excellence. “We’re excited to partner with Property Meld’s Vendor Nexus program, combining two leaders in property management to elevate service for thousands of single-family managers. By offering access to our 30,000+ highly rated affiliates, we’ll help Property Meld customers improve efficiency, reduce risk, and eliminate frustration with our trusted network,” said Sean Miller, CRO at Lessen. About Lessen: Lessen simplifies and improves real estate care with cutting-edge technology and a nationwide network of 30,000+ affiliates. We offer efficient solutions for repairs, maintenance, renovations, and transitions, all backed by data-driven insights to maximize property value. Learn more about Lessen at www.Lessen.com. About Property Meld: Property Meld is the leading property maintenance operations software for the property management industry. Through cutting-edge technology, the company helps property managers streamline maintenance operations, improve communication, and reduce costs, all while enhancing the experience for tenants and vendors alike. Property Meld is trusted by hundreds of property managers across the U.S. to automate maintenance workflows, improve efficiencies, and drive better operational outcomes. Learn more at www.propertymeld.com.

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Redfin reports that existing home sales, which are a lagging indicator, fell to a seasonally adjusted annual rate of 4,023,067. That’s the lowest level on record aside from the start of the pandemic. Pending home sales jumped 2.5% month over month in September on a seasonally adjusted basis, the largest increase since January 2023, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They rose 3.1% year over year, the biggest annual increase since May 2021. Pending sales climbed last month for two reasons: Still, buyers are getting better rates than they were a year ago, when mortgage rates were above 7%. The weekly average interest rate on a 30-year mortgage now sits at 6.44% after hitting a two-year low of 6.08% in late September. The Fed is expected to cut interest rates by another 25 basis points at their November 7 meeting, which shouldn’t have a big impact on mortgage rates. But that could change if the November 1 jobs report has any surprises. “September showed that there are buyers and sellers who are ready to jump into the market—when the conditions are right,” said Redfin Senior Economist Elijah de la Campa. “Most buyers who went under contract last month did so when mortgage rates were falling and before two major hurricanes devastated much of the South. We’re closely watching October data to see whether the recent increase in rates and widespread devastation from the storms causes the market to slow back down.” De la Campa continued: “My advice for buyers is don’t try to time the market. There are a lot of swing factors, like the upcoming jobs report and the presidential election, that could cause the housing market to take unexpected twists and turns. If you find a house you love and can afford to buy it, now’s not a bad time. Mortgage rates are still down from their peak, and buyers in some areas are able to negotiate because homes have been sitting on the market.” Closed sales of existing homes, many of which were negotiated before the latest drop in mortgage rates, dropped to the lowest level on record aside from the start of the pandemic. They fell 0.5% month over month and 3% year over year in September—to a seasonally adjusted annual rate of 4,023,067. Overall closed home sales (including existing and new homes) fell 0.2% month over month on a seasonally adjusted basis and declined 1.6% year over year—to the lowest level since December. Home Sales Plummet Across Florida In West Palm Beach, FL, closed home sales dropped 23% year over year in September—the biggest decline among the 50 most populous U.S. metropolitan areas. Next came three other Florida metros: Tampa (-21.9%), Miami (-19.8%) and Fort Lauderdale (-18.7%). Please note that metro-level data is not seasonally adjusted. Hurricane Helene made landfall in the Big Bend area of the Florida Gulf Coast on September 26, and went on to devastate Appalachia, becoming the deadliest storm to hit mainland America since Hurricane Katrina. Then, less than two weeks later, Hurricane Milton made landfall in Florida. That may have an impact on October home sales. “We have listings that were flooded and taken off the market, and sellers who were getting ready to list but can’t because they need to repair damage,” said MaryDell Penney, Redfin’s market manager in Orlando, FL. “Closings are being delayed because most lenders require post-storm reinspections, and insurers stop writing new policies when there’s a named storm in the region.” Penney continued: “Contracts all have a force majeure section outlining what happens if services are shut down because of a natural disaster, etc. They also specify the risk of loss and seller’s obligation to repair damage if the cost of restoration doesn’t exceed 1.5% of the purchase price. If damage exceeds that, then the buyer can either take the property as-is along with 1.5% from the seller, or the buyer can walk away.” A recent Redfin survey found that two in five Florida residents have set aside money for home repairs related to unpredictable events caused by climate change. Florida’s housing market had already been cooling prior to hurricane season amid rising inventory, surging HOA fees and a housing insurance crisis. In the metro-level highlights section below, you’ll notice that Florida is home to many of the metros that are showing signs of slowing, from sales to prices. Home Prices Continue to Climb Amid Shortage of Homes for Sale The median home sale price in September was $428,212, up 3.9% from a year earlier. Prices are rising because even though listings have inched up in recent months, there’s still a shortage of homes for sale. New listings rose 0.8% month over month on a seasonally adjusted basis in September but were down 0.7% from a year earlier, and were 17.7% below pre-pandemic (September 2019) levels. Active listings rose 0.2% month over month and climbed 14.9% year over year, but were 23.1% below pre-pandemic levels. Homes Are Taking Longer to Sell Than a Year Ago, And Fewer Are Going for Above the Asking Price One reason active listings have been piling up is that many homes have been sitting on the market. That’s bad news for sellers, but it’s good news for buyers because it means they may have room to negotiate. Redfin agents recommend that sellers price their homes fairly from the get-go so they can sell quickly and don’t have to drop their price later on. The typical home that sold in September was on the market for 39 days, up from 33 a year earlier. A little over one-third (36.5%) of homes that sold went under contract within two weeks, down from 42.3% in September 2023. And less than one-third (28.4%) of homes that sold last month went for more than their asking price, compared with roughly one-third (33.2%) a year earlier. Metro-Level Highlights: September 2024 The bullets below are based on a list of the 50 most populous U.S. metropolitan areas. Some metros may be removed from time to time to ensure data