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CoreLogic

CoreLogic, Inc.
Type Public
Traded as NYSE: CLGX
Founded California, USA (1991)
Headquarters 40 Pacifica, Irvine, California, USA
Key people Anand Nallathambi
President and CEO
Products Data, Analytics and Outsourcing Services
Website CoreLogic.com

CoreLogic, Inc. is a North American corporation providing financial, property and consumer information, analytics and business intelligence. Headquartered in Irvine, CA, the company analyzes information assets and data to provide clients with analytics and customized data services. Data sources include property and mortgage information, motor vehicle records, criminal background records and tax records.

The company also develops proprietary research, and tracks current and historical trends in a number of categories, including consumer credit, capital markets, real estate, mortgages, housing, fraud, regulatory compliance, default, natural hazards and disaster projections.

The company claims 40,000 customers in the public and private sectors.[1]

The company reported $1.57B revenue in 2012.[2]

Contents

  • History 1
  • Organization and management 2
    • CEO 2.1
    • CFO 2.2
  • References 3
  • External links 4

History

The company known today as CoreLogic, Inc. dates back to 1991, when TRW Real Estate Information Services entered into a partnership with three real estate information service units from Elsevier, a Dutch publishing company.[3] In 1996, the group, by then known as TRW Information Systems & Services, was spun off and renamed Experian.[4]

In 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). In 2001, the group acquired Transamerica's property information business, becoming the largest real estate information and analytics provider in North America.

Kraig Clark and Steve Schroeder co-founded C&S Marketing in 1997 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.[5]

In March 2007, First American Corporation merged its First American RES subsidiary with CoreLogic, under the FARES LLC subsidiary.[6] 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(NYSE: CLGX) and First American Corporation (NYSE: FAF) which provides title and financial services.[7]

In January 2011, CoreLogic acquired RP Data, which provides property analytics and risk management services in Australia and New Zealand[8][9][10] with intent to further expand into the Asia-Pacific region.[11]

In March, 2011, CoreLogic acquired Dorado Network Systems a leading cloud based mortgage technology SaaS solutions provider based in San Mateo, California.[12]

In June 2013, CoreLogic announced it would buy two units from Decision Insight Information Group for $661 million.[13]

In July 2013, CoreLogic unsuccessfully sued Bristol City Council in England over a failed procurement attempt. The court awarded costs against CoreLogic. [14]

Organization and management

The company reported on August 10, 2010[15] that it had restructured internally into three reporting segments: Business and Information Services, Data and Analytics, and Employer, Legal and Marketing Services.

  • The Business and Information Services segment consists of two groups: mortgage origination services, and default and technology services. The latter group offers services to owners/servicers of troubled mortgage assets, and provides custom outsourcing solutions for clients.
  • The Data and Analytics segment consists of two groups: risk and fraud analytics, which are primarily risk management solutions for clients, and specialty finance solutions, which focus on CoreLogic's products related to credit, broker and multiple listing services.
  • The Employer, Legal and Marketing Services segment provides information management and risk mitigation solutions. The company announced in August 2010 that it was considering selling this segment to focus more on its data, analytics and business information segments.[16]

CEO

Anand K. Nallathambi serves as the President and Chief Executive Officer (CEO) of CoreLogic Inc. Nallathambi became CoreLogic’s CEO when CoreLogic split from the First American Corporation June 2010 . Prior to this role Nallathambi served as the President and Chief Operating Officer of Information Solutions Group of First American Corp. He also served as the Chief Executive Officer of First Advantage Corporation from March 30, 2007 to December 4, 2009 and its President from September 2005 to December 4, 2009.[17]

CFO

August 2011 CoreLogic named Frank D. Martell as its new Chief Financial Officer (CFO). According to the announcement Martell spent 11 years with ACNielsen where he later became COO and 15 years in Financial leadership positions with General Electric.[18]

References

  1. ^ http://www.corelogic.com/About-Us/Our-Company.aspx
  2. ^ http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=CLGX
  3. ^ O'Dell, John (4 September 1991). "TRW, Elsevier Merge Real Estate Information Operations : Information: Joint venture will be headquartered in Riverside. Companies cite high costs of developing new business". Los Angeles Times. 
  4. ^ http://www.allbusiness.com/company-activities-management/company-structures-ownership/7270011-1.html
  5. ^ http://www.prospermag.com/article/1235-345
  6. ^ http://www.highbeam.com/doc/1G1-161610912.html
  7. ^ http://www.thefreelibrary.com/Out+on+their+own%3a+this+month%2c+First+American+is+expected+to+spin+off...-a0229836717
  8. ^ "CoreLogic snaps up property information provider RP Data for $194m". The Australian. 12 January 2011. 
  9. ^ http://www.asx.com.au/asx/research/delistedCompanies.do
  10. ^ http://www.rpdata.com/about_us/about_us.html
  11. ^ http://www.corelogic.com/about-us/news/corelogic-announces-completion-of-rp-data-acquisition.aspx
  12. ^ http://www.corelogic.com/about-us/news/corelogic-acquires-dorado-network-systems-corporation.aspx
  13. ^ Neha Dimri (1 July 2013). "Corelogic to buy real estate data analysis firms for $661 million". Reuters. 
  14. ^ http://www.burges-salmon.com/Practices/commercial/public_procurement_state_aid_procurement_disputes/News/11171.aspx
  15. ^ http://biz.yahoo.com/e/100810/clgx10-q_a.html
  16. ^ http://finance.yahoo.com/news/CoreLogic-Reports-Second-prnews-2851511994.html?x=0&.v=1
  17. ^ http://investing.businessweek.com/research/stocks/people/person.asp?personId=22310456&ticker=CLGX
  18. ^ http://www.corelogic.com/about-us/news/corelogic-names-frank-martell-as-cfo.aspx

External links

  • Corporate site
  • Additional CoreLogic sites
  • CoreLogic companies grouped at OpenCorporates
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