CoreLogic closes on ClosingCorp

Deal comes few months after private equity acquired RE data specialist

From left: Bob Jennings, CEO, ClosingCorp and Frank Martell, CEO, CoreLogic (ClosingCorp, CoreLogic, iStock)
From left: Bob Jennings, CEO, ClosingCorp and Frank Martell, CEO, CoreLogic (ClosingCorp, CoreLogic, iStock)

CoreLogic has acquired ClosingCorp, adding a specialist in closing-cost data analytics to its lineup.

Irvine-based CoreLogic initiated the acquisition in June, soon after it was acquired by private equity firms, Stone Point Capital and Insight Partners. That takeover, which ended a bidding war that also involved CoStar, was valued at $6 billion.

Corelogic CEO Frank Martell and Bob Jennings, his counterpart at ClosingCorp, announced the completion of the deal on undisclosed terms this week.

ClosingCorps was founded in San Diego in 2005 and now has around 100 employees there.

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CoreLogic spun off from title insurer First American Financial Corp. in Santa Ana in 2010, and has some 5,000 employees.

The company scored a coup in June, when the Real Estate Board of New York opted to use Trestle, CoreLogic’s data distribution platform, for its syndicated listings feed. In early 2020 CoreLogic said that Trestle was involved with more than 850,000 active listings, at the time representing more than half of the country’s listings.

CoreLogic has also been at the center of a high-profile lawsuit related to its tenant screening data, with plaintiffs alleging that CoreLogic’s algorithms racially discriminated against prospective tenants in violation of the Fair Credit Report Act. Last September, a federal judge ruled the case could go to trial. The case, which advocates called the first of its kind — a discrimination suit targeting a screening company rather than a landlord — has the potential to roil the industry.

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