The CoreLogic (CLGX) board of directors formed a committee and retained a financial adviser to consider a wide range of options for the future of the mortgage services firm, including a potential sale of the company. The data analytics and REO services provider spun off of First American Financial Corp. (FAF) in June 2010. The company said Monday it hired Greenhill & Co. to pursue possible actions going forward. CoreLogic stock jumped as high as $10 per share in after hours trading Monday after the announcement. CoreLogic was not specific. Cost savings initiatives, an evaluation of capital structure, possible repurchases of debt and common stock or combining businesses were all possibilities along with a sale. The company has been making moves recently. It recently purchased RP Data Limited and began aggressive cost-cutting maneuvers, but the company hinted challenges remain, which prompted the Greenhill hire. “While the company continues to make significant progress on these initiatives, in light of the challenging economic environment and current market conditions, the board has determined to look more closely at a range of alternatives with the assistance of a financial adviser,” CoreLogic said. CoreLogic said there was no assurance any action would be taken. It reported net income of $31.5 million in the second quarter, up from $24 million one year ago. CoreLogic CEO Anand Nallathambi said in the earnings report that although the data and analytics business generated a steady profit, continued struggles in the housing market knocked down earnings on its origination and real estate services departments. “These effects, and lack of typical seasonality, negatively impacted our quarterly results on a year-over-year basis, and make us increasingly cautious in our outlook for the remainder of the year,” Nallathambi said at the time. Write to Jon Prior. Follow him on Twitter @JonAPrior.

Most Popular Articles

Sales of new houses will rise to a 13-year high in 2020, NAR’s chief economist says

Sales of new homes probably will rise to a 13-year high in 2020 as the U.S. dodges a recession, according to Lawrence Yun, chief economist of the National Association of Realtors.

Nov 08, 2019 By

Latest Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By