Amy Perkins
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- Jul 20, 2003
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- Certified Residential Appraiser
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- Tennessee
First American is the parent company of Corelogic.
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Corelogic Just Acquired Alamode
- Thread starter Overimprovement
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timd354
Elite Member
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- Jan 11, 2008
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LOL...you don't keep up with the times or the things affect your industry too well...First American has had no ownership in CoreLogic since they spun off CoreLogic almost 8 years ago in June, 2010. That is why CoreLogic trades on the NYSE under the ticker symbol CLGX and First American trades under the ticker symbol FAF.
Here is some 8 year old news for you to catch up on: https://www.housingwire.com/articles/first-american-completes-corelogic-spin
Anyone who complains to the FTC that they are cocnered about CoreLogic owning both ACI and ala mode are going to end up making themselves looking pretty silly since that is demonstrably not true
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ucbruin
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- Mar 11, 2014
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- Massachusetts
Regardless of trading under separate symbols....
Common sense would lead one to believe that price competition between ACI and ala mode has been diminished or possibly eliminated....
Common sense would lead one to believe that price competition between ACI and ala mode has been diminished or possibly eliminated....
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D
Deleted member 130081
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The value of the appraisal is in the analysis, not the data. Whatever happened to appraisals being considered intellectual property?
The best appraisal products available will always be from a human being who is familiar with the housing stock, the market/neighborhood nuances and the subject. In their respective best-selves, these are all hands-on things. AVMs have proven themselves inferior and consistently unreliable. I believe desktops will prove themselves inferior, over time. You will always need a human to sift through the mountain of data and makes sense out of it, if the best appraisal possible and consistent quality is the goal. Thing is, that is already in place right now. The shift we are seeing is all about the money grab, not about appraisal integrity.
I don't see the next generation of appraisers, who may likely never set foot inside a house, as being as good as the current generation who have been inside pretty much everywhere and have seen pretty much everything, first hand. But hey, that's just me. Can you imagine getting a personal property appraisal, lets say an appraisal of a diamond ring, from someone who never actually touched one?
Its pretty easy to see where Corelogic is going. They want to be the Amazon of real estate data. I predict the next generation of alamode software will be cloud based. I always thought the term "cloud" was hilarious, as well as intentionally misleading.
The best appraisal products available will always be from a human being who is familiar with the housing stock, the market/neighborhood nuances and the subject. In their respective best-selves, these are all hands-on things. AVMs have proven themselves inferior and consistently unreliable. I believe desktops will prove themselves inferior, over time. You will always need a human to sift through the mountain of data and makes sense out of it, if the best appraisal possible and consistent quality is the goal. Thing is, that is already in place right now. The shift we are seeing is all about the money grab, not about appraisal integrity.
I don't see the next generation of appraisers, who may likely never set foot inside a house, as being as good as the current generation who have been inside pretty much everywhere and have seen pretty much everything, first hand. But hey, that's just me. Can you imagine getting a personal property appraisal, lets say an appraisal of a diamond ring, from someone who never actually touched one?
Its pretty easy to see where Corelogic is going. They want to be the Amazon of real estate data. I predict the next generation of alamode software will be cloud based. I always thought the term "cloud" was hilarious, as well as intentionally misleading.
timd354
Elite Member
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- Jan 11, 2008
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- Certified Residential Appraiser
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- Maryland
Not really, people who actually know the industry and who get solicitied by both companies for the same services know that First American and CoreLogic are competitors in the mortgage services industry, including competing in the AMC, AVM and appraisal space - First American bought out Forsythe and runs their own AMC.
These are two, large, well-known publicly traded companies owned by different sets of shareholders and which are managed by different people. If you have evidence that they are colluding and fixing prices, then you should file a complaint with the FTC. However, you undoubtedly are just mouthing off and have no knowledge of anything of the sort.
Appraisers as a group look really stupid when they constantly spew these sorts of allegations with no basis whatsoever...it also makes it less likely that their complaints will be taken seriously when they actually do have a legitimate complaint.
Terrel L. Shields
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- May 2, 2002
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- Certified General Appraiser
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- Arkansas
I believe FA held a minority interest for some time after the spin off. FA is now private I believe and at least one board of directors member serves in both companies. They may be separate companies but don't count out a little incest in these transactions.
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