Mortgage

CoreLogic mortgage default service revenue rises

The default services sector of CoreLogic (CLGX) is reporting a healthy increase in its default services operating revenue.

In the last three months, the division earned the mortgage data and services provider $89.4 million, for a total of $258 million for the last nine months, according to a filing with the Securities and Exchange Commission.

Respectively, that is an increase of $4.3 million, or 5%, and an increase of $7.6 million, or 3% for its mortgage default management services, loss mitigation services and claims management.

The report comes two days after the third-quarter results showing income from the third quarter hit $36.2 million, or 35 cents a share, up from a net loss of $2.9 million, or 3 cents a share, a year earlier.

According to the 10-Q,  the increase was primarily due to higher loss mitigation services of $8.3 million and higher field services revenues of $1.9 million.

This partially offset the lower volumes in other areas such as real estate owned asset management and broker price opinion revenue.

mhopkins@housingwire.com

 

Most Popular Articles

With record-low mortgage rates, originators and real estate agents aren’t taking a holiday anytime soon

Low rates are making this summer one for the record books. Accordingly, loan officers, underwriters, real estate agents and those working in title and settlement offices are continuing to work the long hours that have become the norm since March. Not that they’re complaining.

Jul 02, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please