CoreLogic Acquires Bank Of America's Flood Zone Determination And Property Tax Processing Assets And Business Operations

CoreLogic®

a leading residential property information, analytics and services provider, today announced the Company has purchased flood zone determination and tax processing services assets and operating platforms from Bank of America and entered into a services agreement to continue to provide these services to Bank of America. (Logo: http://photos.prnewswire.com/prnh/20100609/CLLOGO) "We are excited to provide flood zone determination and tax processing services to Bank of America. We believe this agreement will further deepen our longstanding relationship with this important market leader," said CoreLogic President and Chief Executive Officer Anand Nallathambi. "This agreement provides CoreLogic with an expanded platform to continue to grow our gold-standard flood and tax servicing operations." "This arrangement is in line with our long-stated business imperative of driving scale and operating leverage in our Mortgage Origination Services segment," said CoreLogic Chief Financial Officer Frank Martell. "The integration of Bank of America's flood and tax servicing operations into CoreLogic's existing business units is expected to create significant revenue growth and margin expansion opportunities over the balance of 2013 and beyond."