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CoreLogic, Inc. (NYSE: CLGX) is an Irvine, CA-based corporation providing financial, property and consumer information, analytics and business intelligence. The company analyzes information assets and data to provide clients with analytics and customized data services. The company also develops proprietary research, and tracks current and historical trends in a number of categories, including consumer credit, capital markets, real estate, fraud, regulatory compliance, natural hazards, and disaster projections. The company reported 2015 revenue of $1.5B.


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History

CoreLogic dates back to September 1991, when TRW Real Estate Information Services entered into a partnership with three real estate information service units from Elsevier, the Dutch Publishing company now known as Reed Elsevier. In September 1996, the group, by then known as TRW Information Systems & Services, was spun off and renamed Experian.

In September 1997, majority ownership of Experian's real estate information business was acquired by The First American Corporation, in a partnership with Experian. The partnership was called FARES LLC, and the new entity began operating under the name First American Real Estate Solutions (RES).

Also in 1997, Kraig Clark and Steve Schroeder co-founded C&S Marketing in Sacramento, CA. Created to provide fraud prevention and collateral risk management solutions to the mortgage banking industry, the company was later renamed as CoreLogic Systems.

In October 2003, First American RES acquired Transamerica's property information business, combining their real estate information and analytics businesses.

In March 2007, First American Corporation merged its First American RES subsidiary with CoreLogic Systems, under the FARES LLC subsidiary. The division began operating under the name First American CoreLogic.

In June 2010, CoreLogic, Inc. was established as a standalone business when The First American Corporation split its businesses to create two separate legal entities, CoreLogic, Inc and First American Corporation which provides title and financial services.

In January 2011, the company acquired Australia-RP Data, a provider of residential and commercial property information in Australia and New Zealand, for $194 million.

In March 2011, CoreLogic acquired Dorado Network Systems Corp, a San Mateo-CA based cloud application and architecture development company servicing the financial services industry.

In July 2011, the company sold its CoreLogic India operations to US IT company Cognizant, for $50 million. AS part of the transaction, the companies also announced five year, $324 million services agreement.

In January 2013 CoreLogic bought Middletown, CT-based CDS Business mapping, a provider of geospatial hazard reports including distance to coast, flood zones, rating territories, proximity to brush, wind pool eligibility and earthquake information. CoreLogic reported it would integrate the business into its existing Spatial Solutions business.

In April 2013, CoreLogic bought Case-Schiller, the producers of the Case-Shiller home price index, known as one of the most important measures of the health of the housing market.

In December 2013, CoreLogic acquired catastrophic modeling firm Eqecat from Texas-based ABS Group.

In March 2014, CoreLogic acquired Marshall & Swift/Boeckh, a Milwaukee, WI-based provider of building cost information, residential and commercial analytics and business management services, San Diego, CA-based DataQuick Information Systems, a property data and analytics information company, and the credit and flood services operations of DataQuick Lending Solutions. The three acquired units were part of TPG Capital's Decision Insight Information Group.

In June 2014, CoreLogic expanded its hail, wind and lightning weather risk-management capabilities by acquiring Weather Fusion, formerly known as livehailmap.com.

In August 2015, the company purchased LandSafe Appraisal Services, an appraisal management company, from Bank of America for $122 million.

In October 2015, CoreLogic acquired Australian construction data business Cordell from Europe media group RELX, formerly known as Reed Elsevier.

In December 2015, the company acquired FNC, Inc., another provider of real estate appraisal services, for $475 million.

In January 2016, CoreLogic announced it was paying $65M to acquire total ownership of RELS, LLC, a provider of property valuation and appraisal services it owned in partnership with Wells Fargo.


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Business segments

CoreLogic's operations are divided into two segments: Data and Analytics, and Technology and Processing Solutions.

Data and analytics

The D&A group acquires and links property, mortgage and financial data using models and algorithms to produce analytics for clients. Services include advisory services, automated valuations, location intelligence, multiple listing technology and platforms, mortgage fraud management, property information and analytics, and rental screening and analytics.

Technology processing solutions

The TPS group provides mortgage-related data services for mortgage lenders and servicers. Services and technology include flood data services, property tax services, credit verification services, underbanked credit services, compliance and management services, mortgage origination technology, and business process outsourcing and cloud computing-based mortgage servicing solutions.


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Reports

CoreLogic releases reports to the real estate and mortgage industries:

  • Equity Report - a report showing the distribution of equity across all single-family homes in the US with a mortgage. This report initially debuted as a "Negative Equity Report" highlighting how many homeowners were underwater on their mortgage.
  • National Foreclosure Report - a monthly report showing the foreclosure inventory and the number of completed foreclosures, which is an indication of the total number of homes actually lost to foreclosure.
  • The MarketPulse - a monthly report offering insight into the current and future health of the U.S. economic climate with particular focus on housing and mortgage metrics.

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Data sources

Data is the core of many of CoreLogic's products, analytics and services. The data includes real property information, mortgage information and consumer information. Data sources include public sources, data contributed by company clients, and data obtained from data aggregators.

Public data sources include data and documents from federal, state and local governments. This information is augmented by data from other public and non-public sources, allowing the identification of physical property characteristics, boundaries and tax values, current and historical ownership, voluntary and involuntary liens, tax assessments and delinquencies, replacement cost, property risk including environmental, flood and hazard information, criminal data, building permits, local trends, summary statistics and household demographics.

Client contributed data includes loan performance information (from loan servicers, trustees, securitizers, issuers and others), mortgage, auto, property rental and under-banked loan applications from various loan originators, landlords and property owners.

Data acquired from aggregators includes property listing and tenant/landlord rental information from Boards of Realtors, real estate agents, brokers, landlords, and owners of multi-tenant properties. The company also collects appraisals and property valuations from appraisers, and licenses consumer credit history information from credit reporting agencies, lenders and auto dealers.

Source of the article : Wikipedia



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