CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced that a number of multiple listing services (MLSs), representing an additional 82,000 real estate professionals, have signed agreements to join the Partner InfoNet. Launched on June 14, the Partner InfoNet is an innovative new revenue sharing program in which MLSs license their listing data to CoreLogic for use in specific risk management products for mortgage lenders, servicers and the capital markets.
The majority of the new signatories have chosen CoreLogic as their exclusive data licensing partner for risk management solutions, including Atlanta’s First Multiple Listing Service (FMLS), Dallas’ North Texas Real Estate Information Systems (NTREIS) and the Greater Las Vegas Association of REALTORS® (GLVAR). CoreLogic data licensing agreements now cover three of the top 10 metropolitan statistical areas in the United States.
MLS organizations have historically lacked a safe and easy way to generate additional value for their members by applying their listing data outside of the real estate transaction. At the same time, lenders have lacked access to critical listing information that would help make better and faster lending decisions. The Partner InfoNet addresses both these issues by combining CoreLogic MarketLinx licensed MLS data with CoreLogic property data assets to create enhanced risk management products for lenders. CoreLogic is the leading provider of data and analytics solutions to the mortgage community and serves the top one hundred mortgage lenders with solutions critical to the lending process. CoreLogic MarketLinx, a subsidiary of CoreLogic, Inc., is the leading provider of MLS solutions and services.
“NTREIS looked at several business opportunities this year, but the Partner InfoNet was the most open and transparent proposal before our leadership,” said John Holley, chief executive officer of NTREIS. “CoreLogic MarketLinx has been a loyal and trusted partner of ours for many years and this project will deliver numerous additional benefits back to our members. We are pleased to expand our mutually beneficial relationship with them.”
“Working with the industry leader immediately provides a high level of comfort,” said Irene Vogel, chief executive officer of GLVAR. “The permitted uses of our data were all strictly defined, making the contract process very fast and easy. We have every confidence in the stewardship of CoreLogic and their ability to protect our data.”
“Thought leaders in the MLS industry have been searching for ways to provide additional value to their members,” said Ben Graboske, chief executive officer of CoreLogic MarketLinx. “The Partner InfoNet helps unlock new value while improving the accuracy of mortgage risk management for the benefit of brokers, agents, buyers and sellers. We are gratified that both the MLS and mortgage risk communities look to CoreLogic for innovative solutions like the Partner InfoNet.”
CoreLogic 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. Formerly, the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information, visit www.corelogic.com.
CoreLogic and MarketLinx are registered trademarks of CoreLogic, Inc. Partner InfoNet is a trademark of CoreLogic, Inc.