What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

FintechIPO / M&A

CoreLogic confirms it is entertaining offers to sell at or above $80 per share

Company has been fighting a takeover bid from Cannae and Senator Investment Group at $65 per share

After months of fending off an unsolicited takeover bid by two of its significant investors, CoreLogic today confirmed that it is looking for a buyer.

“In light of recent market speculation, CoreLogic today confirmed it is engaging with third parties indicating preliminary interest based on public information in the potential acquisition of the Company at a value at or above $80 per share,” the company said in a press release Wednesday.

“No decision has been made to enter into a transaction at this time, and the Company can offer no assurance that it will enter into any transaction in the future or, if entered into, what the terms of any such transaction would be. The Company does not intend to comment further on market speculation or disclose further developments unless and until it deems further disclosure to be appropriate or required.”

CNBC reported on Wednesday that multiple parties were interested in pursuing a deal with CoreLogic, and that these include private equity firms. CNBC also cited a source that said CoreLogic “has already signed a non-disclosure agreement with at least one potential buyer.”

The company has been fighting a public battle with Cannae Holdings and Senator Investment Group, who jointly own or have an economic interest equivalent to approximately 15% of CoreLogic’s outstanding common stock, since June, when the two investors sent a letter to the CoreLogic Board of Directors with an all-cash proposal for $65 a share.

Cannae is led by Bill Foley, the chairman of Black Knight, a data and analytics company that directly competes with CoreLogic. Foley also served as CEO of Fidelity National Financial from 1984 to 2007, as well as the executive chairman of Fidelity National Information Services, or FIS, from 2006 to 2011. 


How servicers can prepare for potential default wave

Sutherland Mortgage Services President Krish Swaminathan discusses the next wave of servicing, how servicers can best communicate with their customers and the technology available to help with compliance, even in a work-from-home environment.

Presented by: Sutherland

CoreLogic rejected the bid in July as an “opportunistic proposal” and provided higher 2021 and 2022 financial guidance, while increasing share reauthorization to $1 billion. The company also said it expected its 2020 financial results “to materially exceed previously issued revenue, EBITDA and EPS guidance ranges, driven principally by continued market share gains and operating leverage.”

Canne and Senator claimed CoreLogic was employing a “poison pill” strategy and said they would call for a special meeting to replace CoreLogic’s board of directors unless the company engaged with them about the bid.

Under pressure, CoreLogic’s board called for a special shareholders meeting on Nov. 17 to vote on the board, saying it was looking to “remove uncertainty.” Both CoreLogic and the two investors have been lobbying shareholders leading up to the meeting.

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