In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199 #00017

Submission Number:
00017
Commenter:
Allen Kezer
State:
California
Initiative Name:
In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
The proceeding comments are those of several of us that feel that CoreLogic needs to be reigned in on their acquisition of Real Estate Entities. They now control the market. It will not be the fault of those of us in the RE industries, it WILL be the fault of those Politicians who would do nothing to counteract this unsafe company from a monopoly that will hurt consumers. In the Matter of CoreLogic, Inc., Docket No. C--4458 appears to address the settlement of "alleged violations of federal law prohibiting unfair or deceptive acts or practices or unfair methods of competition" This comment specifically addresses the concern of a practicing appraiser who uses the REALIST data product in valuation duties. The consolidation of data ownership is alarming as Corelogic now has a controlling interest in many real estate related products and services. The essence of fair and open competition is threatened by Corelogic's controlling interests. In addition to transaction data and physical property data, Corelogic has interests in cost data that are the essence of two widely used approaches to value. To secure their dominance in real estate markets, Corelogic has appraisal management and appraisal software that are under their control. Now a single corporate entity controls the data, assignment distribution and the software to prepare valuations. It now becomes clear Corelogic has vastly more influence in the valuation of real estate then can be reasonably considered healthy for fair and open competitive markets. Current national debate of the appropriate collection, sharing and use of data should cause the Federal Trade Commission to carefully review and monitor the actions of Corelogic. The issues raised by the growing monopoly of Corelogic should spur the commission to ensure the independent and fair use of real estate data. The American consumers and financial institutions are dependent on the valuations developed from real estate data that now appears to be falling under the control of a single entity. I respectfully ask the commission to expand its scope of review of Corelogic's controlling interests, data practices and business relationships and act to protect consumers and financial institutions. Allen Kezer