The board of directors of real estate information, analytics and services provider CoreLogic says they are exploring a sale of the company in the face of the "challenging economic environment and current market conditions."
Although CoreLogic reported $31.5 million in net income during the second quarter, revenue was down 3.5 percent from a year ago, to $411 million.
Revenue from CoreLogic’s business and information services division dropped even more sharply, falling 12.4 percent from a year ago, to $200 million.
The business and information services division "experienced significant declines in appraisal and broker price opinion business reflecting client losses, changing market dynamics and general declines in industry origination and problem loan volumes," the company said in announcing second-quarter results.
Most of CoreLogic’s revenue depends on residential real estate and mortgage transactions, and ongoing servicing related to those transactions, the company said in its most recent quarterly report to investors.