In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199 #00160

Submission Number:
00160
Commenter:
Michael Reed
State:
Washington
Initiative Name:
In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
Re: CoreLogic, Inc., Docket No. C-4458 April 16th, 2018 To the FTC, I have serious concerns about the increasing presence and potential dominance Corelogic has in the real estate valuation process. CoreLogic controls just about every vendor my company relies on for the data used in the appraisal of residential real estate. They recently purchased our software vendor, Alamode. We rely on technological advances to keep up with the efficiencies required in the valuation process. Alamode has already pushed back expected platform upgrades; their pace of improving their platform product has already slowed. Corelogic could cripple the valuation industry with their outright control of the data vendors, and the health of our banking system relies in part on the valuation industry. As Corelogic takes a bigger piece of the pie; it will become more difficult and expensive to attract and train appraiser talent. The industry is already not able to support enough appraisers to handle the appraisal volume needed for an efficient mortgage market. I do not believe the real estate industry is best served by the dominant vertical position that Corelogic currently has. Please remember that a home is typically most family's largest financial investment and that reliable valuations are central to that investment. Thank you for the opportunity to provide these comments. Should you have questions, I can be reached at [redacted] or via email at [redacted]