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.


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