CoreLogic, Inc. operates as a property information, analytics, data-enabled software platforms, and services provider operating in North America, Western Europe, and the Asia Pacific.
The company provides software platforms and value-added business services that address the needs of the mortgage, real estate, insurance, capital, and public sectors. Its structured property-specific data, consisting of over 150 million parcel records, covers over 99% of the United States (U.S.), includes both res...
CoreLogic, Inc. operates as a property information, analytics, data-enabled software platforms, and services provider operating in North America, Western Europe, and the Asia Pacific.
The company provides software platforms and value-added business services that address the needs of the mortgage, real estate, insurance, capital, and public sectors. Its structured property-specific data, consisting of over 150 million parcel records, covers over 99% of the United States (U.S.), includes both residential and commercial real estate data; and is enriched by over one billion historical sales, mortgages, and pre-foreclosure transactions.
The company’s consortium data covers loan-level mortgage performance, appraisal, and mortgage application data; and is in excess of 300 million records. The company is also a parcel-based geocoder and has developed a proprietary spatial database covering more than 150 million parcel polygons across the U.S. These databases enable the company’s clients to access detailed property insights, as well as data regarding current and historical mortgages, mortgage risk and portfolio performance, involuntary property liens and encumbrances, building construction and replacement costs, consumer credit, tenancy, location intelligence, hazards, and other natural risk factors.
The company has more than one million end-users who rely on its data and predictive decision analytics to reduce risk, enhance transparency, and improve the performance of their businesses.
The company offers its clients a national database covering real property and mortgage information, judgments and liens, building and replacement costs, tax information, parcel and geospatial data, among other data types. Using these datasets, the company has built value-added analytical capabilities and business services to meet its clients’ needs for property tax processing, property valuation, hazard risk, property risk and replacement cost, flood plain location determination, geospatial data, analytics, and related services.
In January 2020, the company acquired the remaining 66% of Location, Inc. (Location). Location is a leading provider of geographic location indicators for crime and non-weather related events connected to underwriting risk assessment. This acquisition further progresses the company’s long-term strategic plan by adding scale to its insurance and spatial businesses.
Business Segments
The company operates through two segments, Property Intelligence & Risk Management Solutions (PIRM); and Underwriting & Workflow Solutions (UWS).
PIRM
This segment delivers unique housing market and property-level insights, predictive analytics, and risk management capabilities. The company has also developed proprietary technology and software platforms to access, automate, and track this information, as well as assist its clients with decision-making and compliance tools in the real estate and insurance industries. The company delivers this information directly to its clients in a standard format over the web, through hosted software platforms or in bulk data form. The company’s solutions include property insights and insurance and spatial solutions in North America, Western Europe, and the Asia Pacific.
The company’s property insights combine its patented predictive analytics with its proprietary and contributed data to enable the company’s clients to improve customer acquisition and retention, detect and prevent fraud, improve mortgage transaction cycle time and cost efficiency, identify real estate trends and neighborhood characteristics, track market performance, and increase market share. The company’s data includes real estate information, incorporating crime data, site inspections, information about neighborhoods, document images, and other information from proprietary sources. Further, the company maintains the leading market share of real estate listing software systems, which the company provides to more than 50% of all U.S. and Canadian real estate agents. The company also provides a full range of professional services to listing organizations and assists its clients in identifying revenue opportunities and improving member services.
The company’s insurance and spatial solutions provide property and casualty insurers, energy, and other markets the ability to locate, assess, and manage property-level assets and risks through location-based data, property content, proprietary workflow solutions, and analytics. The company maintains the industry's first parcel-based geocoder and an industry-leading parcel database covering more than 150 million parcels across the U.S., as well as critical and up-to-date information across multiple hazard databases, including information on storm, land-based, fire, and even non-weather-related hazards.
UWS
This segment provides mortgage origination and monitoring solutions, including underwriting-related solutions and data-enabled valuations and appraisals. The company has also developed proprietary technology and software platforms to access, automate, and track this information, as well as assist its clients with vetting and on-boarding prospects, meeting compliance regulations, and understanding, evaluating, and monitoring property values. The company’s UWS solutions include property tax solutions, valuation solutions, and flood data solutions in North America.
The company’s property tax solutions are built from aggregated property tax information from over 20,000 taxing authorities. The company uses this information to advise mortgage originators and servicers of the property tax payment status of loans in their portfolio and to monitor that status over the life of the loans. If a mortgage lender requires tax payments to be impounded on behalf of its borrowers, the company can also monitor and oversee the transfer of these funds to the taxing authorities and provide the lender with payment confirmation.
The company’s valuations solutions represent property valuation-related, data-driven services, and analytics combined with collateral valuation workflow technologies, which assist its clients in assessing risk of loss using both traditional and alternative forms of property valuation, driving process efficiencies, and ensuring compliance with lender and governmental regulations. The company builds collateral risk management models and provides collateral information technology and solutions that automate property appraisal ordering, tracking, documentation, and review for lender compliance with government regulations.
The company’s flood data solutions provide flood zone determinations in accordance with the U.S. Federal legislation passed in 1994, which requires that most mortgage lenders obtain a determination of the current flood zone status at the time each loan is originated and obtain applicable updates during the life of the loan. The company provides flood zone determinations primarily to mortgage lenders.
Clients
The company’s clients are predominantly financial services institutions in the mortgage and insurance industries. The company provides its solutions to national and regional mortgage lenders, servicers, brokers, credit unions, commercial banks, investment banks, fixed-income investors, real estate agents, MLS (multiple listing services) companies, real estate investment trusts, property and casualty insurance companies, government agencies, and government-sponsored enterprises.
Discontinued Operations
In October 2020, the company sold a portion of its multi-family tenant screening business. In February 2021, the company sold the remainder of its multi-family tenant screening business.
Intellectual Property
The company has more than 50 issued patents in the U.S. covering business methods, software, and systems patents, principally relating to automated valuation, fraud detection, data gathering, flood detection, MLS technology, and property monitoring. The company also has at least 19 patent applications pending principally relating to these and other areas in the U.S. In addition, the company has a number of issued patents and pending patent applications internationally, including in Canada and Australia.
In addition, the company owns more than 300 trademarks in the U.S. and foreign countries, including the names of its products and services, as well as the company’s logos and tag lines, many of which are registered.
The company owns more than 1,000 registered and unregistered copyrights in the U.S. and foreign countries, covering computer programs, reports, and manuals.
Regulation
The laws and regulations that affect the company’s U.S. operation include, but are not limited to, the Fair Credit Reporting Act; Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010; Gramm-Leach-Bliley Act; California Consumer Privacy Act; and Real Estate Settlement Procedures Act.
In addition, federal and state laws impose requirements relating to the security of information held by the company. For the company’s businesses that involve the collection, processing, and distribution of personal public and non-public data, certain of their solutions and services are subject to regulation under the U.S. federal, state, and local laws, and to a lesser extent, foreign countries.
The company is subject to consumer and data protection laws and regulations in the foreign countries where it conducts business. The company conducts business in several international jurisdictions, including Australia, New Zealand, Canada, the United Kingdom, various countries in Europe, and Brazil. Principal regulatory bodies and regulatory laws that impact the company’s international operations include the Office of the Australian Information Commissioner, the agency with direct responsibility for administering the Australian Privacy Principles and Part IIIA of the Privacy Act 1988, and the Office of the Privacy Commissioner of New Zealand, which issued the Credit Reporting Privacy Code 2004.
The company is also subject to the European Union Data Protection Regulation, commonly known as GDPR, which places certain obligations on companies processing and controlling data on individuals in the European Union (EU) and prohibits the transfer of personal information from the EU to other countries whose laws do not protect personal data to an adequate level of privacy or security.
In Canada, the company is subject to the Personal Information Protection and Electronic Documents Act of 2000, as well as substantially similar provincial laws enacted in Alberta, British Columbia, and Quebec. The company is also subject to the recently implemented Brazilian General Data Protection Law, which is similar in many respects to the GDPR.
Competition
The company’s PIRM segment competes with Black Knight, Inc.; ATTOM Data; First American Financial Corporation; and Verisk Analytics, Inc.
The company’s UWS segment competes with Black Knight, Inc.; Lereta LLC; Clear Capital; Solidifi; and ServiceLink.
History
The company was incorporated in California in 1894 and was reincorporated in Delaware in 2010. It was formerly known as The First American Corporation and changed its name to CoreLogic, Inc. in 2010.
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