First American Lawsuit Claims AVM Patent Infringement
First American CoreLogic filed a patent infringement lawsuit against eight of its competitors claiming products developed by the companies violate First American’s patent for its automated valuation model (AVM) technology. First American CoreLogic is a subsidiary of the First American Corp. (FAF), but the company is in the process of spinning off CoreLogic into its own publicly traded firm, a deal that's expected to close this summer. The suit, filed on April 16, alleges Fiserv, Intellireal, Interthinx, Lender Processing Services, Precision Appraisal Services, Real Data, Realec Technologies and Zillow all sell products and services that violate the patent First American has for its property valuation technology. The suit was filed in the US District Court for the Eastern District of Texas in Marshall, Texas, about 150 east of Dallas. The filing requests a jury trial and seeks damages for profits lost, and royalty payments for the patent, as well as attorneys fees and costs. The plaintiffs in the case either declined to comment or did not immediately respond to HousingWire’s request for comment. Write to Austin Kilgore.