Deal expands Corelogic’s valuation business
CoreLogic announced Tuesday its plan to acquire Mercury Network, a valuation technology and appraisal management platform provider.
With a 45% passive minority in Mercury, CoreLogic plans to complete the purchase this year, subject to customary closing conditions and regulatory clearance.
“Mercury Network’s platforms complement the CoreLogic appraisal technology platforms and analytics business acquired from FNC in 2016,” said Frank Martell, CoreLogic president and CEO. “They will broaden the reach of CoreLogic’s valuation technology products and services to smaller and medium-sized lenders and AMCs.
“Through this acquisition, CoreLogic will improve its value proposition and go to market strategy for its broad range of valuation-related data and analytics to this important and growing segment of the industry,” he added.
CoreLogic plans to continuously offer Mercury’s platforms and services to emerging lenders and AMCs and FNC technology to larger lenders.
Mercury will proceed operations in its Oklahoma City, Okla. headquarters, which provides software to more than 800 small and medium-sized mortgage lenders and AMCs.
Related stories:
A decade later, CoreLogic looks back at the foreclosure crisis
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With a 45% passive minority in Mercury, CoreLogic plans to complete the purchase this year, subject to customary closing conditions and regulatory clearance.
“Mercury Network’s platforms complement the CoreLogic appraisal technology platforms and analytics business acquired from FNC in 2016,” said Frank Martell, CoreLogic president and CEO. “They will broaden the reach of CoreLogic’s valuation technology products and services to smaller and medium-sized lenders and AMCs.
“Through this acquisition, CoreLogic will improve its value proposition and go to market strategy for its broad range of valuation-related data and analytics to this important and growing segment of the industry,” he added.
CoreLogic plans to continuously offer Mercury’s platforms and services to emerging lenders and AMCs and FNC technology to larger lenders.
Mercury will proceed operations in its Oklahoma City, Okla. headquarters, which provides software to more than 800 small and medium-sized mortgage lenders and AMCs.
Related stories:
A decade later, CoreLogic looks back at the foreclosure crisis
Mercury Network to waive disaster report fees in wake of tornadoes
