Daily Research News Online

The global MR industry's daily paper since 2000

CoreLogic Sells Off Non-Core Units

October 1 2014

California-based residential property information and analytics provider CoreLogic has sold its Collateral Solutions and Field Services business units to property maintenance specialist Mortgage Contracting Services (MCS) for a possible total of $45m.

Frank MartellField Services offers property inspection and preservation services, while Collateral Solutions offers a range of appraiser and broker-based property valuation. Their sale will allow CoreLogic to focus on its data analytics and data-enabled offering.

The sale was initiated as part of CoreLogic's restructuring of its Asset Management and Processing Solutions (AMPS) division, and total consideration includes $25m due at closing, and an additional amount of up to $20m based on performance over the next year. Following the acquisition, the Collateral Solutions unit will remain in its current Sandy, Utah-location, while the Field Services unit, which is based in Westlake, Texas, will be combined with the MCS operations in Plano, TX.

CoreLogic COO Frank Martell (pictured) comments: 'The sale of Collateral Solutions and Field Services to MCS mark the completion of an important milestone in CoreLogic's strategic business transformation. We are now well-positioned to accelerate our growth around a set of core businesses which are uniquely positioned to capitalize on our competitive strengths in data and analytics, payment processing and data-enabled services.'

Web sites: www.corelogic.com and www.mcs360.com .

All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

Select a region below...
View all recent news
for UK
View all recent news
for USA
View all recent news
for Asia
View all recent news
for Australia


To receive (free) news headlines by email, please register online