CoreLogic Drops Software Units, Emphasizes Appraisal Management – NMP Skip to main content

CoreLogic Drops Software Units, Emphasizes Appraisal Management

Phil Hall
Dec 21, 2018
CoreLogic has announced the availability of CoreLogic a la mode’s PropertyAssist solution to the appraisal community

CoreLogic has announced plans to realign its corporate focus by dropping several business platforms and putting a new focus on others.
 
The Irvine, Calif.-based business said it planned to exit its loan origination software unit and its remaining legacy default management related platforms over the next 24 months. The company added that these non-core software platforms brought in approximately $40 million in revenue during the first three quarters of this year.
 
While this is taking place, CoreLogic plans to accelerate its appraisal management company operations through what it described as “the greater use of data-driven analytics, automation of workflows and enhanced utilization of its dedicated staff appraisers.” CoreLogic acknowledged that this focus is “expected to initially result in lower revenue in 2019,” but will bring greater profit margins in 2020 and beyond. CoreLogic’s appraisal management revenues in the first three quarters of this year came to roughly $65 million.
 
“CoreLogic remains focused on capitalizing on our scale and market leadership and the opportunities presented by our must have workflow solutions in the U.S. mortgage market,” said Frank Martell, President and Chief Executive Officer of CoreLogic. “The actions we are announcing today should further position the company to achieve its 30 percent margin target and enhanced organic growth rates in 2020.”

 
Published
Dec 21, 2018
More from
Tech
Zillow Group Bids Fond Farewell To iBuying

Reports solid 1Q 2022 earnings in part from selling off all but 100 homes left from Zillow Offers unit.

Industry News
May 05, 2022
Offerpad Earnings Continue To Set Records

Digital home buyer and seller reported revenue soared 384% in 1Q 2022 as it sold a record number of houses.

Industry News
May 04, 2022
Xactus Appoints New Chief Financial Officer

Paul Ryan has over two decades of experience in financial roles

Tech
Apr 20, 2022
Sun West Introduces The Processor

Company says computer program can cut loan processing time to less than an hour.

Tech
Apr 05, 2022
MoCaFi, FinLocker, TransUnion partner to bridge homeownership gap

The three companies are hoping to help Black households improve their credit eligibility

Industry News
Apr 05, 2022
Report: CIOs need to guide companies through pandemic-related challenges

Hybrid work models, employee retention among biggest challenges

Tech
Apr 05, 2022