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CoreLogic (NYSE: CLGX) announced that Donegal Insurance Group has chosen them as the technology provider to enhance property claims operations. This collaboration aims to improve the customer experience by streamlining claims processes and providing quicker settlements. CoreLogic's platform integrates various aspects of the insurance workflow onto a cloud-based system, ensuring efficient operations and enhanced communication with policyholders. According to CoreLogic’s CEO, this deal reflects their growth within the insurance sector, focusing on delivering better services at critical moments for customers.
CoreLogic (NYSE: CLGX) has launched its new digital Title and Closing Solution, enhancing its Complete Collateral™ initiative. This solution automates manual processes traditionally faced by mortgage lenders, reducing time and costs in the collateral underwriting process. CoreLogic's Universal Title Data Structure (UTDS) allows for instant and secure data transfer from title providers to lenders, eliminating errors and enhancing security. This initiative aims to improve the borrower experience and reduce potential wire fraud, further streamlining the mortgage origination process.
CoreLogic (NYSE: CLGX) has received an unsolicited acquisition offer from CoStar Group, proposing an all-stock transaction where shareholders would receive 0.1019 shares of CoStar for each CoreLogic share. Meanwhile, CoreLogic’s Board has approved a definitive merger agreement with Stone Point Capital and Insight Partners to acquire all outstanding shares for $80 each in cash. The Board will review CoStar's offer to assess its potential as a superior proposal, but shareholders are advised to take no action at this time.
CoreLogic (NYSE: CLGX) has partnered with Sierra Pacific Mortgage to enhance its collateral valuation platform, aiming to improve underwriting capacity and turn times. CoreLogic's digital solutions are designed to streamline and simplify appraisal reviews, helping lenders save time and reduce costs. Sierra Pacific has reported quicker appraisal reviews leading to faster loan closings thanks to the centralized appraisal review process. This collaboration highlights CoreLogic's commitment to innovating lending workflows, allowing underwriters to concentrate on credit aspects.
CoreLogic (NYSE: CLGX) released its November 2020 Loan Performance Insights Report, revealing that 5.9% of mortgages were delinquent, a 2% increase from November 2019. This marks the lowest delinquency rate since April 2020. Key findings include early-stage delinquencies at 1.4%, serious delinquencies at 3.9%, and a foreclosure inventory rate of 0.3%. The unemployment rate saw improvement, dropping to 6.7% by year's end. Notably, all states reported increased delinquency rates, with Hawaii and Nevada leading.
CoreLogic (NYSE: CLGX) has announced a definitive merger agreement with funds managed by Stone Point Capital and Insight Partners. The agreement values CoreLogic at $80 per share, totaling approximately $6.0 billion, which reflects a 51% premium over its share price on June 25, 2020. CoreLogic's leadership expressed optimism about the merger, highlighting it as a strategic move to enhance shareholder value and support future growth. The transaction is expected to close in Q2 2021, pending regulatory and shareholder approvals.
CoreLogic (NYSE: CLGX) released its Home Price Index (HPI) and HPI Forecast for December 2020, revealing a remarkable 9.2% annual home price gain, the highest since February 2014. Factors like low mortgage rates and limited home supply significantly drove demand, despite a 24% drop in available homes compared to 2019. The monthly year-over-year price growth averaged 5.7% in 2020. Concerns over affordability are rising, especially in markets like San Diego, where prices surged 10.4%. CoreLogic anticipates more housing inventory to emerge in the latter half of 2021, potentially moderating price increases.
CoreLogic (NYSE: CLGX) has declared a quarterly cash dividend of $0.33 per share to common shareholders. The dividend will be paid on March 15, 2021 to shareholders of record as of the close of business on March 1, 2021. This financial commitment demonstrates the company’s ongoing strategy to return value to its investors.
CoreLogic (NYSE: CLGX) has announced its partnership with Stearns Lending, LLC, implementing CoreLogic's income calculation and analysis solution. This integration aims to enhance mortgage origination workflows, automating processes for underwriters and loan officers. The solution allows for accurate income calculations earlier in the application process, reducing applicant fallout. Additionally, it maintains a comprehensive audit trail, improving efficiency and risk management for Stearns. CoreLogic emphasizes that this digital solution is key for reducing costs and origination time while reinforcing underwriting precision.
