CoreLogic, a provider of information, analytics and business services, has announced the launch of Partner InfoNet, a special program for sharing revenue with multiple listing service (MLS) organizations. Through the program, an MLS licenses its listing data for use in a variety of new risk management products for mortgage lenders, servicers and the capital markets. MLS organizations have lacked a safe and easy way to generate additional value for their members by applying their listing data outside of the real estate transaction. At the same time, lenders have lacked access to critical listing information that would help make better and faster lending decisions.
Partner InfoNet addresses both these issues by combining CoreLogic MarketLinx licensed MLS data with CoreLogic property data assets to create enhanced risk management products for lenders. CoreLogic serves the top 100 mortgage lenders with solutions critical to the lending process. CoreLogic MarketLinx, a subsidiary of CoreLogic, Inc., is a provider of MLS solutions and services.
"The Partner InfoNet program offers a safe and easy way to unlock the value of our listing data and generate useful revenue," said John Leonardi, chief executive officer of Western New York Real Estate Information Services. "We look forward to a strong business partnership with CoreLogic and the many benefits it will provide to our membership."
CoreLogic has developed a comprehensive data protection program that uses sophisticated data seeding and active monitoring to identify those who might misuse or abuse MLS data rights. CoreLogic has a strong track record of enforcing its data rights and stands prepared to do the same for each MLS and its members.
More than 50 MLSs are already in negotiations to participate in the Partner InfoNet program, which is available to all MLS organizations nationwide. Each MLS that signs an exclusive agreement will also receive the CoreLogic MarketLinx Data Co-op solution, an innovative new data sharing tool that makes it easy for the MLS to access listings from around the country while precisely controlling who can see their data.
"The Data Co-op eliminates the heavy lifting associated with setting up and maintaining traditional data shares," said Tom Wissel, MLS director for the Ocean County Board of REALTORS. "It shows us who we are sharing data with and we can turn the relationships on or off any time we want. Best of all, the co-op listings are accessed from our existing MLS system, making it very simple for our members. My first response is just 'wow'!"
CoreLogic is a provider of real estate data, maps and document images, fraud tools, appraisal services, flood determinations, property tax monitoring, broker price opinions, merged credit reports, automated valuation models (AVMs) and MLS software. With more than 720 million property records representing 99 percent of the real estate parcels in the United States, CoreLogic has nearly three times more property data than its nearest competitor.
"Our superior data and analytics give us a unique advantage," said Ben Graboske, chief executive officer of CoreLogic MarketLinx. "By leveraging our leading market position in information and analytic solutions, we can help lenders improve their risk decisions while delivering value back to the MLS and its members."
For more information, visit www.corelogic.com.