Where Real Estate Gets Its Dirt

…doth protest too much, methinks.

Seems like the best strategy here would be too ignore any false claims. Why do they keep bringing this up? Looks like Marty Frame has gotten under their skin.

Plus I love the line: “In summary we’d like to state that CoreLogic is supportive of our clients who wish to utilize the RPR toolset.” Yeah RIGHT!

In fact the whole last paragraph is a bit wacky. Curiouser and curiouser…

Important Notification To The Real Estate Industry
On MLS Listing Data Usage, AVMs & Foreclosure Data Standing

At CoreLogic® we pride ourselves on having an open and transparent relationship with our customers. We have built a reputation over many years as a fair and honest partner. Recent statements made during the National Association of REALTORS® annual meeting in New Orleans have contained inaccurate claims. To ensure that our customers and business partners have an accurate view of the facts we provide the following response:

CoreLogic does not distribute any listing data to consumers contributed by MLS partners to our Realist® ValueMap™ or InfoNet programs. Our agreements with our partners specify that this data may only be used for Risk Management purposes. We take these obligations very seriously and honor them scrupulously. Not one MLS listing provided under these programs has been made available through RealQuest® Express, Yahoo!® or any other consumer or marketing website. The claim made by RPR that CoreLogic distributes Partner InfoNet listings to consumers is not true.
RealQuest Express is a website whose primary mission is to provide access to public foreclosure records and property data. The foreclosure investor is the target audience for RealQuest Express. CoreLogic has an agreement with Yahoo! Real Estate whereby RealQuest Express is offered as a subscription service to Yahoo! users under the ‘Foreclosure’ section of the Yahoo! site. Access to our public record foreclosure data on RealQuest Express starts at $49 per month. The RealQuest Express site also contains syndicated for-sale listings at no charge that direct web users back to the listing providers’ sites.

CoreLogic is the leading provider of AVMs to lenders, serving the valuation needs of 18 of the top 20 lenders and delivering millions of AVMs every month. The company has offered multiple MLS-enhanced AVMs for more than three years. In independent tests, CoreLogic AVMs have routinely rated as the industry’s most accurate AVMs. Our collective suite of AVMs offers the greatest nationwide geographic coverage, hit rate and accuracy in the industry.

We have offered MLS-enhanced valuations for more than three years via Realist ValueMap, a map-based solution available via MLS, broker and agent websites. On November 3, we re-coined the ValueMap AVM under the name RealAVM. Leveraging our patented AVM modeling, RealAVM helps real estate brokers and agents access and market the most accurate automated property values in their marketplace and expand the insight and services that they provide to their clients.

CoreLogic is the #1 provider of foreclosure and distressed property information to the mortgage finance and real estate industries. CoreLogic has nearly 2.3 million distressed property records in its database compared to LPS’s 0.85 million records (source: RPR).
CoreLogic is the #1 provider of assessor-based information, covering 3109 counties compared to approximately 2400 counties for LPS. On a county-coverage basis, the 147 million parcels in our database represent 30% greater coverage than LPS.

CoreLogic is the #1 provider of transactional information, such as deeds, mortgages, pre-foreclosures, and other real estate related documents.

· Our clients access 575 million transactions, a dataset that is growing at the rate of approximately 3.9 million records per month.

· Our transactions coverage is not only the industry’s deepest, it is also the broadest. We collect transactions in over 2600 counties, which we estimate is 120% greater coverage than LPS.

· CoreLogic is also the most rapid national collector of publicly recorded transaction data, with an average turn-time that is 19 recording days faster than LPS for the subset of counties that are common to both companies.

In summary we’d like to state that CoreLogic is supportive of our clients who wish to utilize the RPR toolset. Some of our partners have chosen to execute exclusive data licensing agreements with CoreLogic, and therefore cannot execute data licensing agreements with RPR/LPS. For the benefit of the members of these MLSs we are open to discussing with RPR the ability to provide listing data for their member’s use. However, we are strongly opposed to that information getting to our AVM competitors. It is our position that RPR should allow MLS members to view their listings in the RPR toolset without a data licensing agreement.


Ben Graboske
Chief Executive Officer
CoreLogic MarketLinx

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