In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199 #00154

Submission Number:
00154
Commenter:
John Osipchak
State:
Virginia
Initiative Name:
In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
The monopoly that Corelogic is amassing in the housing information technologies should be a concern for the public. They are quickly gaining control of all housing sales data, tax data, valuation data, and personal data for all parties involved in any real estate transactions. With the changes in terms of use across their holdings, they will be able to control data and research completed by professionals and re-use and re-distribute this data without any compensation being provided to those who originated the data. Corelogic will be one step closer to controlling the housing market across the US. They have the potential, due in part to FNMA and FHLLC allowing for appraisal waivers, to control all housing valuation data. This could allow for record inflation or deflation depending on how they choose to turn it. It will also eliminate independent, unbiased professional Appraisers. Corelogic already controls the majority of the multiple listing services across the US. They also control Marshall & Swift which supplies building cost data to real estate professionals but can also be used by computerized valuation models. They control many appraisal ordering and delivery services - they control which Appraisers get the work and then control the data once it is submitted. They also own appraisal review software and that data. With acquiring ALaMode, Inc they will control the most widely used appraisal software program and all the data submitted by those professional Appraisers. Since they already own all of the alternative appraisal software programs, there is no other reputable software option that is not controlled by Corelogic. When Corelogic finishes establishing its monopoly on real estate services, they will have control over the US housing industry. They will control who can purchase, refinance and sell. They will also control how much professionals will have to pay to use these services and what they will be compensated. There will be no competitive market for alternative data sources or software. They will effectively be able to control all real estate information and who can access it. Please stop Corelogic from establishing this real estate monopoly and eliminating the careers of untold numbers of real estate professionals.