In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199 #00062

Submission Number:
00062
Commenter:
John Russell
State:
Washington
Initiative Name:
In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
Corelogic is turning into a monopoly of all items in the appraisal and real estate industry. This must stop. Corelogic has just purchased ALA mode software, the leading software company for Real Estate Appraisers. Presently CoreLogic controls a variety of the property sales and information databases and search programs that appraisers depend upon for information on comparable sales and market conditions, such as REIS, Realist, AppraiserSuite, and RealQuest. CoreLogic provides flood zone certifications through FloodCert. CoreLogic owns the leading provider of residential and commercial construction cost data, Marshall & Swift. CoreLogic owns two of the "portals" for ordering and transmitting appraisals, FNC and Mercury Network. CoreLogic has just acquired one of the largest and most popular appraisal software firms, Alamode. CoreLogic is the source of the automated appraisal review program LSAM, which is widely used by large and small lenders and appraisal management companies. CoreLogic also owns a national provider of appraisal education and symposia, the Columbia Institute. Finally, CoreLogic is a national appraisal management company in and of itself, having purchased both LandSafe and RELS. CoreLogic of course was also the subject of the FTC action with regard to its purchase of DataQuick Information System and this request for comments. Given all the above, Corelogic controls nearly every aspect of real property valuations! They control ordering real estate appraisals, the data that the appraisers rely upon for their analysis, including comparable data, flood data and the platforms the data is on, transmission of the final reports, and the internal review of the appraisal reports via appraisal review software. I would like to see Core Logic prohibited from being capable of both providing valuations, controlling significant portions of the data and having access to confidential appraisal data that is being developed by independent commercial and residential appraisers that use products such as Narrative One and Total by Alamode. Thank you for your consideration