CoreLogic spun off from First American just last year, now up for sale?

August 30, 2011
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Improving offering and investigating options

CoreLogic announced this week that it has integrated 4506-T Direct, a tax return income verification solution, into its Mortgage Builder Software (MBS) allowing users to verify income directly through the IRS, searching up to four years of IRS data. Companies like Fannie Mae require a third-party income verification to avoid fraud, and 4506-T Direct can reveal if tax information from borrowers is accurate or not. In addition to improving MBS, the company recently began cutting costs and purchased RP Data Limited.

In the same week as CoreLogic strengthens one of its divisions, its board of directors has quietly formed a committee and hired a financial adviser to investigate the company’s options, including its potential sale, just a year after being spun off from First American Financial Corp. Other options being investigated are cost saving methods, an evaluation of their capital structure as well as the possibility of repurchasing debt and common stock or combining businesses.

W&R Studios co-founder, Greg Robertson said, “It sounds like they are bit spooked by the market. Which is a shame. I think this period is going to separate the men from the boys. Some will see uncertainty/panic, and some will see opportunity.”

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Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

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