CoreLogic says the new model has spurred client contract signings
CoreLogic announced that it has completed the transformation of its appraisal management company (AMC) operations.
The transformation program, which started in December 2018, focused on expanding the use of its data-driven analytics, automating critical workflows, and enhancing the use of staff appraisers.
“The successful completion of the AMC transformation is a major accomplishment and a significant milestone for CoreLogic,” said Frank Martell, president and CEO of CoreLogic. “Our new AMC service model has been well received, and an accelerating trend of client contract signings and adoption sets us up well for double-digit underlying organic growth in this business next year.”
CoreLogic expects the completion of the program and progressive launch of the enhanced service model to reduce appraiser turn times and improve the quality and productivity. Additionally, the company predicts strong growth and higher profit margins based on the AMC’s pipeline of secured businesses and pending contract signings.
“In addition, building off of our forecasted 30% adjusted EBITDA margins for the second half of 2019, higher AMC margins should contribute to the company achieving its full-year 30% adjusted EBITDA margin target in 2020,” Martell said. “In addition to powering accelerated organic growth trends and margin expansion, the completion of the AMC transformation has contributed to our high quality, more diversified revenue base and provides clarity with regards to the financial trends in this business for 2020 and beyond.”
