CoreLogic Shows Impressive Growth in 2005
-- 2006 Looks Promising for Sacramento Company at the Forefront of Risk Management in the Mortgage Industry --
SACRAMENTO, Mar. 6, 2006 – CoreLogic, the leading provider of collateral risk-analysis and management technology and services to the U.S. mortgage banking industry has been recognized as one of the fastest growing private companies in the nation. With astounding year on year growth and an exponential growth in revenue, market share and employees, the Sacramento based company recognized impressive results in 2005, with a positive outlook in 2006.
In the past three years, CoreLogic has grown at a rate of 1,650%. With revenue at just over $4 million in 2001, CoreLogic revenue grew to more than $70 million for the 2005 calendar year. In addition to revenue growth, CoreLogic has been adding a significant number of employees to its roster, with the number of employees increasing from 89 in 2004 to nearly 200 in 2005.
“Since founding this company more than eight years ago, I have been fortunate to be a part of the rapid expansion of our business,” said Steve Schroeder, CoreLogic CEO and co-founder. “With our dedicated employees, satisfied customers and innovative front-end collateral risk management systems, CoreLogic continues to be a leader in the industry and a key contributor to mitigating risk for the mortgage industry.”
Industry wide, CoreLogic continues to have a notable impact on banks and lending intuitions. In 2005, CoreLogic databases processed nearly one billion data transactions to support the production of CoreLogic’s collateral risk management reports, helping its customers avoid more than $1.2 billion in potential loan loss through 2007. Out of more than 30 million residential loans processed by the mortgage lending industry in 2005, approximately 7.6 million were evaluated by a CoreLogic product.
In addition, earlier this year CoreLogic expanded its technical support operations to a state of the art technology center in Las Vegas, Nev. The additional IT center provides increased capacity, speed, and security to accommodate business growth.
As 2006 continues, CoreLogic is projecting another successful year. The company’s innovative front-end collateral risk screening tools will continue to help the lending industry and capital markets community mitigate risk relating to mortgage fraud, resulting in more legitimate loans and a more stable mortgage economy for both lenders and borrowers.
About CoreLogic
Sacramento, Calif.-based CoreLogic, A C&S Company, is the leading provider of collateral risk-analysis and management technology and services to the U.S. mortgage banking industry. Since 1997, the mortgage industry has relied on CoreLogic to enable risk management and workflow process support. Using CoreLogic technology, mortgage originators and investors are able to increase profitability and loan quality by making more informed lending and investment decisions. The CoreLogic suite of property information tools provides the data, comprehensive geographic coverage, ease-of-use and accessibility the mortgage industry needs. For more information about CoreLogic, visit www.corelogic.com.
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