In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
The current announcement by Corelogic and Alamode (the largest appraisal reporting software provider in the U.S.) that Corelogic had obtained a 100% interest in Alamode is very disturbing!! The FTC has to consider all the sectors of the real estate market that Corelogic now owns and influences. The FTC must require Corelogic to fully and clearly disclose their ownership share in all real estate associated businesses in the United States. Once the FTC recognizes the vast web of influence that Corelogic has established, it must stop this agreement. I recommend that the FTC put the agreement on hold to carefully evaluate the impact to national real estate transactions! As well as the impact on the risk associated with mortgage backed securities in the economy. Corelogic owns multiple real estate listing services for real estate brokers influencing how data for sales, pendings and listing properties is recorded and displayed. It owns Marshall & Swift costing services, one of the largest, if not largest, appraisal costing services in the country. It owns multiple portal services for uploading appraisal reports across the country. It owns or is majority owner of RELS appraisal management company(and possibly others) for placing appraisal orders, review and underwriting of appraisal reports. Since Corelogic works with any lender willing to pay for its services(ex. Wells Fargo), it can therefore influence values for properties in the entire country. Please review vertical and horizontal monopoly types for markets & trade in our economy and prevent this from happening.