CoreLogic Signs Midwest Real Estate Data to Partner InfoNet
Email Dan Smith
June 16, 2011, Santa Ana, Calif. –
—Greater Chicago Area MLS Chooses Exclusive Data Licensing Agreement—
CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced that Midwest Real Estate Data LLC (MRED™) has signed an exclusive agreement with CoreLogic to participate in Partner InfoNet. Representing 13 REALTOR® organizations and almost 40,000 subscribers in Northern Illinois, Southern Wisconsin and Northwest Indiana, MRED is the nation’s largest multiple listing service (MLS) provider by listing volume. Partner InfoNet is an innovative revenue sharing program in which MLSs license their listing data to CoreLogic for use in risk management products for mortgage lenders, servicers and the capital markets.
“MRED is always looking for ways to offset our costs so that we place as little burden on our customers as possible, while continuing to provide the best possible products and service. The revenue potential of Partner InfoNet represents another way for us to bring value to our membership,” said Russ Bergeron, chief executive officer of MRED. “This agreement also gives our members access to class-leading tools like RealAVM—a valuation model that estimates the property values lenders are likely to see when evaluating loan applications—and the Listing and Marketing Activity Report, which combines MLS and public record data with market analytics to create a 360-degree view of a property and its local conditions. We are always on the lookout for new tools that will help our members succeed in this challenging market.”
“Our exclusive agreement with MRED, the country’s largest MLS, is a very strong endorsement of the value of Partner InfoNet to MLS organizations,” said Ben Graboske, chief executive officer of CoreLogic MarketLinx.
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2010 revenues of $1.6 billion. For more information visit www.corelogic.com.
CoreLogic and MarketLinx are registered trademarks of CoreLogic. RealAVM and Listing and Market Activity Report are trademarks of CoreLogic. All other trademarks are the property of their respective holders.