CoreLogic Announces First Academic Research Council Excellence Award Recipients
Real Estate Industry and Trade Media
Campbell Lewis Communications
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July 29, 2013, Irvine, Calif. –
—Harvard University Graduate Students Recognized for New Model on Effects of Foreclosures on Home Prices—
CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today announced the winners of the inaugural CoreLogic Academic Research Council (CLARC) award for scholarly research in the real estate and mortgage fields during the company’s 25th Annual RiskSummit.
Adam Guren and Tim McQuade, graduate students at Harvard University, present at the event, were recognized for their academic research that relied on a data grant from CoreLogic. Their study, “How Do Foreclosures Exacerbate Housing Downturns?”, drew from CoreLogic Home Price Index, negative equity and foreclosure data, and presented a model that demonstrates the effects of foreclosure on home prices. The authors’ quantitative analysis implied “that from 2007 to 2011 foreclosures exacerbated aggregate price declines by approximately 50 percent and declines in the prices of retail homes by approximately 30 percent.” A copy of the paper is available at http://www.corelogic.com/downloadable-docs/clarc_report_guren_mcquade_072613.pdf. The paper was recognized as the most outstanding research from among all CLARC grant recipients. The scholars were awarded a cash grant of $10,000 from CoreLogic.
“We are thrilled that our students have been recognized with this award,” said Edward Glaeser, Fred and Eleanor Glimp Professor of Economics at Harvard University. “Having access to high quality data is crucial to improving our understanding of the housing market, which is a critical sector of the economy that affects all of us. We hope that this award is the first milestone of a fruitful and productive relationship with CoreLogic.”
“This past year, CoreLogic, through the CLARC grant program, fulfilled more than 15 data grants to leading academic and non-profit researchers,” said CoreLogic Chief Economist Mark Fleming, PhD. “We are excited to reward the substantive contribution to the scholarly literature and increase the number of grants as more researchers become aware of the program.”
CLARC has a 12-member board consisting of CoreLogic executives and economists as well as leading professors and experts in the banking and real estate fields. The council and its data grants program were created to offer academic and nonprofit researchers the opportunity to receive CoreLogic data grants from its real estate, property ownership, and mortgage finance databases. The program encourages scholastically sound research principles, broad distribution of findings and meaningful contributions to academic literature that informs housing policy and regulation development and advances understanding of market dynamics.
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The company’s combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.
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