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BSI Financial Services Names Harold Lewis President and COO

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Company also appoints financial veteran Brett Behrens to head agency servicing BSI Financial Services, a mortgage operating platform, announced Harold Lewis has been hired as president and COO. In this newly created position, Lewis will be responsible for scaling BSI Financial’s platform and delivering value to its customers through the combination of improved operational efficiency, reduced risks, technology advancements and exceptional talent. Prior to joining BSI Financial, Lewis served as president and COO of Nationstar Mortgage (dba Mr. Cooper), where he led the growth of the company’s servicing portfolio from $30 billion to $400 billion and its mortgage origination portfolio from $1.8 billion to $25 billion. Prior to Nationstar, Lewis held several C-Suite and senior executive positions, including COO at CitiMortgage, COO of residential real estate at Fannie Mae, president of NationsCredit for Bank of America/Barnett Bank, and COO of Resource Bancshares Mortgage Group. Most recently, he served as a senior advisor at McKinsey & Company. In addition, Lewis currently serves on the board of directors at Upbound (dba Rent-a-Center and Acima) and on its audit and compensation committees. “I am excited to welcome an exceptional industry leader like Harold to our leadership team,” said Gagan Sharma, founder and CEO of BSI Financial. “As we scale BSI in these changing times for our industry, Harold’s leadership and expertise will ensure that we deliver a best-in-class customer experience while minimizing risk.” “I am thrilled to be joining BSI Financial Services and look forward to working with our talented team to drive further growth and create increasing value for our customers,” said Lewis, who will report to Sharma. Larry Goldstone, BSI Financial’s president of capital markets and lending, said, “I am pleased to have Harold join our management team as president and COO, taking over responsibility for the management of all operational aspects of our platform. As we look ahead, our growth plans and aspirations require a person with Harold’s talent and experience and will ensure our collective success.” BSI Financial also announced the appointment of Brett Behrens to head agency servicing. He will report directly to Lewis. Behrens has more than 33 years of financial services experience, including over 20 years in servicing management. Most recently, he was a business development executive with Aspen Capital, a private equity firm specializing in the acquisition and servicing of residential and commercial real estate loans. Behrens has also held management positions at Calmco Servicing, Wilshire Credit Corporation/Seterus, Wealthbridge Mortgage Corporation and FCI Lender Services. “I want to congratulate Brett on his new role. He is a great example of the talented team members we have at BSI,” said Sharma. BSI Financial’s cloud based, open API and AI driven platform is built from the ground up to transform the mortgage servicing experience for all stakeholders. Its end-to-end digital servicing platform enables investors and originators to transact seamlessly, with automated loan boarding, investor reporting and data-driven loan monitoring through the lifecycle of the mortgage. The company’s digital homeowner interface offers the convenience of mobile-friendly UX and multi-channel service that ensures high customer retention and satisfaction, further enhancing the value proposition for originators and investors. BSI Financial has also built a proprietary AI-driven compliance automation and workflow that ensures complex, state-by-state regulations are kept up-to-date and acted on with precision and certainty, providing real-time visibility into the mortgage details and exceptions. In addition, Bizzy Labs, the company’s subsidiary, offers a SaaS RegTech solution to external servicers and investors. About BSI Financial ServicesBSI Financial Services is leading the evolution of mortgage servicing for originators, investors and homeowners. The company brings together a talented team with long mortgage industry expertise, scalable digital capabilities and deep regulatory understanding. BSI Financial is one of the fastest growing mortgage servicers across the industry and currently services more than $50 billion in mortgages. The company is approved as a servicer by Fannie Mae, Freddie Mac, FHA and VA, approved as an issuer by Ginnie Mae, and rated by S&P and Fitch as a servicer. For more information, visit www.bsifinancial.com. Author admin View all posts

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A New Era in Home Building: Open House Lets You Experience 3D Printed Home First-Hand SQ4D LLC (SQ4D) has listed for sale the Largest 3D printed home in the United States. This residential property, printed on site using SQ4D’s revolutionary Autonomous Robotic Construction System (ARCS), is the largest 3D printed home to ever hit the market and is listed on MLS for sale as new construction for $499,999. Open house dates and times are listed at: https://www.zillow.com/homedetails/42-Dean-St-Islandia-NY-11749/32667036_zpid/? This 3D printed home is 2000 square feet of modern living space set on approximately ¼ acre, and features an open floor plan with 4 bedrooms and 2 full bathrooms. The concrete home delivers strength and durability that conventional wood-frame construction cannot match. SQ4D currently builds over 40% of the structure by printing the footings, foundation walls, slab, interior and exterior walls on site. SQ4D’s competitors print only walls (accounting for 8-11% of the home), and use a complicated mix with dozens of chemicals. SQ4D’s proprietary hardware and software enables the use of store bought concrete, which can be easily understood by building departments nationwide. A Concrete Solution to the Affordable Housing Crisis SQ4D’s 3D printing technology can drive a lasting solution to the housing crisis by drastically reducing the cost and time of construction as compared to traditional methods that are antiquated and wasteful. The developer on this project, Charles Wienraub, said, “After building and renovating over 400 homes in the past 5 years, I could no longer keep up with the increased cost of building supplies and an incredibly difficult labor market. I have now completely pivoted my business to 3D printing as a way to create beautiful sustainable homes while turning a healthy profit”. SQ4D’s listing of the first 3D printed home in 2021 forever changed the construction and housing industries. Now with homes of this size and greater, the 3D printed home revolution may finally begin. The company’s tagline, “Changing The Way The World Is Built™”, is becoming a reality. SQ4D just received approval on a 25 house subdivision in New York, plans to work with Habitat for Humanity this summer, and has many more exciting projects lined up. SQ4D LLC is a construction technology company from Patchogue, NY, that produces 3D home printers for building residential homes and commercial buildings. If you would like more information about SQ4D, please call 1-844-773-3669, visit www.sq4d.com or email info@sq4d.com CONTACT: Kristen HenrySQ4D LLC|(844) 773-3669315 W Main St Patchogue, NY 11772info@sq4d.com SOURCE SQ4D Inc. Author admin View all posts

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Highest Potential SFR Returns in Indian River, Collier, Wayne, Mercer, Charlotte Counties;Best Returns Concentrated in South, Midwest and Northeast, Lowest in West;Rental Returns Increase From 2022 in About 90 Percent of Counties Analyzed, Reversing Years of Decline ATTOM, a leading curator of land, property, and real estate data, released its Q1 2023 Single-Family Rental Market report, which ranks the best U.S. markets for buying single-family rental properties in 2023. The report analyzed single-family rental returns in 212 U.S. counties with a population of at least 100,000 and sufficient rental and home price data. The analysis for this report incorporated median rents on 3-bedroom properties and median single-family home prices collected from ATTOM’s nationwide property database, as well as publicly recorded sales deed data licensed by ATTOM. The report shows that the average annual gross rental yield on three-bedroom properties, (annualized gross rent income divided by purchase price) among the 212 counties analyzed is projected to be 7.5 percent in 2023. That is up from an average of 6.7 percent in 2022 in those same markets and marked the first time since at least 2019 that the figure rose across the country. The single-family rental yield is increasing from 2022 to 2023 in 91 percent of those counties, after declining from 2021 to 2022 in 72 percent of them. With rental yields on the rise, rents are increasing faster than home prices across most of the country. From 2022 to 2023, three-bedroom rents rose more than single-family home prices in 192, or 91 percent, of the markets analyzed. Rents commonly have risen by around 5 percent to 20 percent over the past year, while changes in home values have typically ranged from a 5 percent loss to a 5 percent gain. “The broader housing market didn’t fare nearly as well in 2022 as it did in 2021. Prices finally hit the wall, at least temporarily. But that appears to be benefitting the growing number of investors around the U.S. who rent out single-family properties,” said Rob Barber, chief executive officer at ATTOM. “Rents for single-family homes are growing while prices have flattened out, which has helped boost yields for landlords for the first time in at least several years.” The improving scenario for single-family landlords has come following a year in which the U.S. housing-market changed course. The nation’s 11-year price runup abruptly stalled as home-mortgage rates doubled to near 7 percent, consumer price inflation remained at 40-year highs and the stock market fell. All those factors cut into what prospective home buyers could afford, helping to lower the nationwide home price by 8 percent in the second half of 2022 but allowing rental yields to rise. Additional price declines “could cut both ways for landlords,” Barber added. “They could raise yields even more but also rekindle super-heated demand for home purchases, away from rentals.” Top rental returns in Indian River, Collier, Wayne, Mercer and Charlotte counties, as well as other parts of South, Midwest and Northeast regionsCounties with the highest potential annual gross rental yields for 2023 are Indian River County, FL, in the Sebastian-Vero Beach metro area (15 percent); Collier County, FL, in the Naples metro area (14.7 percent); Wayne County, MI, in the Detroit metro area (13 percent); Mercer County, NJ, in the Trenton metro area (12.7 percent) and Charlotte County, FL, in the Punta Gorda metro area (12 percent). Aside from Wayne County, the highest potential annual gross rental yields in 2023 among counties with a population of at least 1 million are in Cook County (Chicago), IL (11.5 percent); Cuyahoga County (Cleveland), OH (10.1 percent); Oakland County, MI (outside Detroit) (9.1 percent) and Palm Beach County (West Palm Beach), FL (8.5 percent). Among the top 50 rental returns for counties analyzed in 2023, 29 are in the South, with another 13 in the Midwest and eight in the Northeast. None are in the West. Rental returns increase in most counties analyzedPotential annual gross rental yields for 2023 have increased compared to 2022 in 192 of the 212 counties analyzed in the report (91 percent). They are led by Orange County, CA (outside Los Angeles) (yield up 42.7 percent); San Mateo County, CA (outside San Francisco) (up 41.6 percent); Suffolk County (Boston), MA (up 41.2 percent); New Castle County (Wilmington), DE (up 40.5 percent) and San Francisco County, CA (up 38.1 percent). Aside from Orange County, the biggest increases in potential annual gross rental yields from 2022 to 2023 among counties with a population of at least 1 million are in Miami-Dade County, FL (yield up 34.1 percent); Broward County (Fort Lauderdale), FL (up 32.4 percent); Santa Clara County (San Jose), CA (up 30.1 percent) and Palm Beach County (West Palm Beach), FL (up 29.5 percent). The only counties with a population of 1 million or more showing decreases in potential gross rental yields from 2022 to 2023 are St. Louis County, MO (yield down 19.8 percent); Nassau County, NY (outside New York City) (down 2.2 percent) and Collin County (Plano), TX (down 0.4 percent). Lowest rental returns in San Francisco, San Jose, Provo, Honolulu and Washington, D.C., metro areas, along with other western marketsCounties with the lowest potential annual gross returns for 2023 on three-bedroom rentals are Santa Clara County, CA, in the San Jose metro area (3.3 percent); San Mateo County, CA, in the San Francisco metro area (3.7 percent); Utah County, CA, in the Provo metro area (3.8 percent); Honolulu County in the Honolulu, HI, metro area (4.2 percent) and Loudoun County, VA (4.2 percent). Aside from Santa Clara and Honolulu counties, the lowest potential annual gross rental yields in 2023 among counties with a population of at least 1 million are in Alameda County (Oakland), CA (4.3 percent); Fairfax County, VA (outside Washington, D.C.) (4.3 percent) and Montgomery County, MD (outside Washington, D.C.) (4.5 percent). Among the bottom 50 potential rental returns for counties analyzed 2023, 34 are in the West and 14 are in the South. The Northeast and the Midwest have just one each. Rents rising faster than wages in two-thirds of counties measuredRental amounts are rising faster than wages in 147 of the 212 counties analyzed (69 percent), including Los Angeles County, CA; Cook County (Chicago), IL; Harris County (Houston), TX; San Diego County, CA, and Orange County, CA (outside Los Angeles). Wages are increasing faster than rents in 65 of the 212 counties analyzed (31 percent), including Maricopa County (Phoenix), AZ; Dallas County, TX; Clark County (Las Vegas), NV; Tarrant County (Fort Worth), TX, and Hillsborough County (Tampa), FL. Rents rising faster than home prices in 91 percent of nationRental amounts are rising faster than home prices in 192 of the 212

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Home Sales Show Strong Increase and Slight Rise in Median Sales Price Over January Despite being down 24.4% year over year, February home sales increased 16.8% from January. That was the largest month-over-month increase in 11 months and ended a five-month streak of sales declines that began in September. The median sales price of $385,000 increased 0.6% over January, ending a seven-month streak of price declines since the peak of $426,000 in June 2022. Although home prices increased slightly month-over-month, February marked the first year-over-year drop in prices since January 2012 – as the median was 1.3% lower than a year ago ($390,000). Inventory increased year over year for the 10th consecutive month, and the number of homes for sale in the report’s 50 metro areas was 55.0% higher than a year ago. “Prices have steadied and demand is strong, but the lack of available, affordable homes remains a challenge,” said Nick Bailey, RE/MAX President and CEO. “Mortgage rates are top of mind for many buyers, and as they move up or down, sales activity should generally follow suit. That’s a big factor to watch as we move into the spring.” Laurie Thiel, Broker/Owner of RE/MAX Equity Group in Beaverton, OR is already seeing an uptick in demand and activity in her area. “As the market has stabilized, our agents are experiencing increased activity with homebuyers and sellers. Even though the time to sell a home has increased, inventory in the Portland metropolitan market remains limited.” Other notable metrics: Highlights and local market metrics for February include: Closed Transactions Of the 50 metro areas surveyed in February 2023, the overall number of home sales is up 16.8% compared to January 2023 and down 24.4% compared to February 2022. The markets with the biggest decrease in year-over-year sales percentage were Anchorage, AK at -42.1%, Miami, FL at -37.2%, and New York, NY at -35.5%. No metro area had a year-over-year sales percentage increase in February. Closed Transactions:5 Markets with the Biggest YoY Decrease Market Feb 2023Transactions Feb 2022Transactions Year-over-Year %Change Anchorage, AK 228 394 -42.1 % Miami, FL 5,120 8,148 -37.2 % New York, NY 6,247 9,684 -35.5 % Las Vegas, NV 2,182 3,327 -34.4 % San Diego, CA 1,628 2,439 -33.3 % Median Sales Price – Median of 50 metro area pricesIn February 2023, the median of all 50 metro area sales prices was $385,000, up 0.6% compared to January 2023, and down 1.3% from February 2022. The markets with the biggest year-over-year decrease in median sales price were Bozeman, MT at -13.8%, San Francisco, CA at -12.7%, and Phoenix, AZ at -7.8%. Four metro areas increased year-over-year by double-digit percentages: Burlington, VT at +16.4%, Wichita, KS at +12.5%, Milwaukee, WI at +12.3%, and Hartford, CT at +11.3%. Median Sales Price:5 Markets with the Biggest YoY Decrease Market Feb 2023Median SalesPrice Feb 2022Median SalesPrice Year-over-Year %Change Bozeman, MT $632,500 $734,000 -13.8 % San Francisco, CA $960,000 $1,100,000 -12.7 % Phoenix, AZ $415,000 $450,000 -7.8 % Birmingham, AL $255,000 $274,950 -7.3 % Trenton, NJ $316,000 $340,000 -7.1 % Close-to-List Price Ratio – Average of 50 metro area pricesIn February 2023, the average close-to-list price ratio of all 50 metro areas in the report was 98%, up compared to 97% in January 2023, and down from 101% compared to February 2022. The close-to-list price ratio is calculated by the average value of the sales price divided by the list price for each transaction. When the number is above 100%, the home closed for more than the list price. If it’s less than 100%, the home sold for less than the list price. The metro areas with the lowest close-to-list price ratio were Miami, FL at 94% and New Orleans, LA at 96%. The highest close-to-list price ratios were in Hartford, CT and Richmond, VA, tied at 101%. Close-to-List Price Ratio:5 Markets with the Biggest YoY Decrease Market Feb 2023Close-to-ListPrice Ratio Feb 2022Close-to-ListPrice Ratio Year-over-YearDifference San Francisco, CA 100.2 % 111.9 % -11.6 pp Seattle, WA 99.0 % 108.3 % -9.3 pp Dallas, TX 96.5 % 102.6 % -6.1 pp Denver, CO 98.7 % 104.4 % -5.7 pp Los Angeles, CA 97.2 % 102.5 % -5.3 pp Days on Market – Average of 50 metro areasThe average days on market for homes sold in February 2023 was 45, down three days from the average in January 2023, and up 14 days from the average in February 2022. The metro areas with the lowest days on market were Baltimore, MD at 17, Manchester, NH at 19, and Washington, DC at 20. The highest days on market averages were in Bozeman, MT at 79, Fayetteville, AR at 78, followed by a tie at 64 between San Antonio, TX and Seattle, WA. Days on market is the number of days between when a home is first listed in an MLS and a sales contract is signed. Days on Market:5 Markets with the Biggest YoY Increase Market Feb 2023Days onMarket Feb 2022Days onMarket Year-over-Year %Change Salt Lake City, UT 56 15 +282.2 % Denver, CO 34 11 +218.0 % Bozeman, MT 79 29 +168.2 % Las Vegas, NV 55 21 +158.3 % Portland, OR 51 20 +147.8 % Months’ Supply of Inventory – Average of 50 metro areasThe number of homes for sale in February 2023 was down 7.5% from January 2023 and up 55.0% from February 2022. Based on the rate of home sales in February 2023, the months’ supply of inventory was 1.7, down from 2.0 compared to January 2023, and up compared to 1.0 in February 2022. In February 2023, the markets with the lowest months’ supply of inventory were Albuquerque, NM and Seattle, WA, tied at 0.7, followed by a three-way tie between Charlotte, NC, Hartford, CT, and Washington, DC at 0.8. The markets with the highest months’ supply of inventory were Bozeman, MT at 3.3, San Antonio, TX at 3.1, and New Orleans, LA at 3.0. Months’ Supply of Inventory:5 Markets with the Biggest YoY Increase Market Feb 2023Months’Supply ofInventory Feb 2022Months’Supply ofInventory Year-over-Year %Change Raleigh, NC 1.6 0.3 +367.3 % Dallas, TX 2.9 0.6 +343.4 % Salt Lake City, UT 1.7 0.5 +264.0 % San Antonio, TX 3.1 0.9 +234.3 % Coeur d’Alene, ID 2.3 0.7 +232.6 % SOURCE RE/MAX, LLC Author admin View all posts

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The Appraisal Foundation shared an update on how it is progressing on a number of recommendations made in the Biden Administration’s Property Appraisal and Valuation Equity (PAVE) Task Force’s Action Plan. The Action Plan was released a year ago next week with the aim of providing a “blueprint for how all Americans can benefit fairly from the equity built through homeownership.” “The Appraisal Foundation shares the PAVE Task Force’s commitment to root out bias and discrimination in the appraisal profession, and our boards have been hard at work over the past few years to do just that,” said The Appraisal Foundation President Dave Bunton. “I am proud of the work that our boards have accomplished in such a short time, but much remains to be done. We look forward to partnering with the PAVE Task Force to continue these efforts to build public trust in the appraisal profession.” The following are the top ten highlights of The Foundation and its boards’ actions on the following PAVE commitments: For more information on each of these initiatives and how the Foundation is responding to many more PAVE recommendations please read this update provided to the PAVE Task Force on February 2, 2023. Background: The Appraisal Foundation is the nation’s foremost authority on the valuation profession. The organization sets the congressionally-authorized standards and qualifications for real estate appraisers and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available at www.appraisalfoundation.org. Media Contact:Amy KaufmanDirector of CommunicationsThe Appraisal Foundationamy@appraisalfoundation.orgdirect phone 202.624.3048 SOURCE The Appraisal Foundation Author admin View all posts

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Roc Capital Holdings LLC (“Roc360”), a vertically integrated platform for residential real estate investors and a leading originator of business purpose loans nationwide, announced it has closed on the previously announced transaction for Finance of America Commercial (“FACo”) assets. Under the terms of the transaction, Finance of America Companies Inc. (NYSE:FOA) has sold the operational assets of its FACo division, which specializes in residential real estate investment loans, to Roc360. Excluded from the sale are previously originated loans and the residual in the ANTLR securitization shelf. Roc360 will refresh the brand with a new logo and run it under a new subsidiary using its trusted brand name, Finance of America Commercial, which will join Roc360’s growing portfolio of leading real estate brands, including Roc Capital, Haus Lending, Elmsure Insurance, Wimba Title, and Tamarisk Appraisals. FACo traces its initial roots back over a decade to its predecessor companies B2R Finance, Dwell Finance and Jordan Capital Finance, early players in the national private lending space offering fix and flip and landlord DSCR loans to real estate investors. Since its inception, FACo has funded in excess of $6 billion to over 9,000 individual guarantors across over 25,000 closed loans through its borrower-direct and broker channels. The FACo acquisition adds additional capacity to Roc360’s existing origination footprint within its retail and wholesale channels and the data acquired will further contribute to Roc360’s data science efforts. In 2022, the two companies collectively funded in excess of $4.6 billion in business purpose loans. “Roc360 is committed to delivering innovative products and services that help rejuvenate and deliver new and like-new energy efficient homes to America’s undersupplied housing stock. The acquisition further broadens our reach and ability to make a difference. We will continue to pursue growth opportunities, including acquisitions, that expand our ability to provide solutions to real estate investors,” said Arvind Raghunathan, Ph.D., Founder and Chief Executive Officer, Roc360 family of companies. About Roc360 Roc360 is a leading financial services platform for residential real estate investors, providing vertically integrated solutions, including lending, servicing, insurance and valuation. Founded in 2014, Roc360 employs over 300 people and has funded in excess of $14 billion in loans through its lending subsidiaries. The company is headquartered in New York City with offices on three continents. In 2022, Roc360 joined the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. For Roc360 Media Relations: pr@Roc360.com For more information about Roc360, please visit www.roc360.com SOURCE Roc360 Author admin View all posts