Real estate technology and information provider CoreLogic has recently completed a series of acquisitions costing a combined $750 million, giving the company the ability to sell clients information about almost any property’s past, present and future, Olumide Soroye, CoreLogic’s managing director for information solutions, told the Albuquerque Journal.
“This really is about a lot more than just the (home price) indices,” Soroye said. “It’s about the gold standard of data we can offer the industry on properties and their life cycle.”
In the past year or so, CoreLogic has purchased the Case-Shiller Home Price Indices, Bank of America’s flood-zone determination and tax-processing services operations, catastrophic risk modeling firm EQECAT Inc., home replacement cost company Marshall and Swift/Boeckh, real estate data provider DataQuick Information Systems, and DataQuick Lender Solutions’ credit and flood division.
Earlier this year, CoreLogic settled a complaint by the Federal Trade Commission that its $661 million acquisition of DataQuick was likely to result in less competition in the market for national assessor and recorder bulk data by agreeing to license that data to rival RealtyTrac.
Last year, CoreLogic generated $1.3 billion in revenue, $591 million from its data and analytics division — an amount the firm is trying to increase as business from mortgage lenders declines due to rising interest rates, the Albuquerque Journal said.