In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199 #00082

Submission Number:
00082
Commenter:
Ryan Butt
State:
North Carolina
Initiative Name:
In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
Core Logic already provides support services to the NC Regional MLS in the way of importing public records and other miscellaneous information, and it acquired Marshall & Swift Cost Services several years ago. If this acquisition of A la mode software is permitted, that company will have access to a very significant percentage of the total number of residential real estate appraisals that are completed for FNMA, FHLMC, FHA, VA, and USDA loans. The data mining from those reports that could result may eclipse the volume of information that is now acquired by the GSEs through the UAD forms that have been in use for several years. With a near monopoly of virtually every tool that a residential real estate appraiser uses on a daily basis, the ability of Core Logic to create automated valuation models, or AVMs, may in time completely dominate many aspects of the lending industry. The public interest does not appear to be very well suited by one corporation virtually dictating property values with little chance of homeowners challenging those findings. I would ask that the FTC oppose this acquisition for the reasons detailed.