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
First Tech Federal Credit Union Chooses ICE Mortgage Technology’s EPPS

First Tech Federal Credit Union has chosen ICE Mortgage Technology’s EPPS to improve automation, compliance, and scalability to meet the demands of over 720,000 members. 

Tech
Jul 29, 2021
ICE Makes Enhancements To Its Mortgage Prepayment Model

The Intercontinental Exchange, Inc. made enhancements to its mortgage prepayment model with daily residential mortgage rates from ICE Mortgage technology.

Tech
Jul 27, 2021
Liquid Mortgage Technology Supports Efficient Debt Market

Liquid Mortgage received a U.S. patent for its distributed ledger technology to support its future vision of efficient and transparent debt markets.

Tech
Jul 22, 2021
Rocket Expands Home Search Tool To All 50 States

Rocket Homes announced its growing home search tool now includes listings from all 50 states.

Tech
Jul 21, 2021
Better's One-Click Checkout Now Offers Title Insurance For Refi's

Better announced it has been licensed as a title insurance provider for refinance transactions through Better Settlement Services (BSS) in Virginia. 

Tech
Jul 20, 2021
Fairway Independent Mortgage Uses Doma To Improve Refinance Business

Doma Intelligence platform will remove key points of friction and frustration that affect traditional mortgage closings.

Tech
Jul 16, 2021