Welcome to our dedicated page for Corelogic news (Ticker: CLGX), a resource for investors and traders seeking the latest updates and insights on Corelogic stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Corelogic's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Corelogic's position in the market.
CoreLogic (NYSE: CLGX) has announced plans to divest its Reseller Businesses, which include Tenant Screening and Credit Verification Solutions, as part of a strategy to enhance revenue and margins. This move is expected to reduce exposure to mortgage market volatility and shift towards higher fixed recurring revenue streams, anticipated to reach approximately 55% of total revenues. CoreLogic forecasts a significant increase in organic growth, projected adjusted EBITDA margins above 35%, and reduced revenues from discontinued operations, with expected FY21 revenue of $1,965 - $2,010 million.
CoreLogic (NYSE: CLGX) has released estimates for storm surge and wind losses caused by Hurricane Delta, which impacted Louisiana and Texas. The insured wind losses for affected properties are projected between $0.5 billion and $0.9 billion, while insured storm surge losses range from $0.2 billion to $0.3 billion. Additionally, damage to offshore structures is estimated between $0.8 billion and $1.5 billion. Recovery efforts will be complicated due to ongoing rebuilding from Hurricane Laura, highlighting the importance of understanding insurance coverage.
CoreLogic (NYSE: CLGX) announced that its non-weather and hail risk scores received approval from insurance departments in Massachusetts and New Jersey, as well as for commercial lines in eleven other states. These scores help insurers enhance their personal lines rating plans, offering confidence in underwriting. The RiskSuite solutions address challenges in assessing non-weather hazards, enabling better claim probability analysis. With approval in 37 states, CoreLogic aims to support insurers in accurately pricing and minimizing loss risks.
CoreLogic (NYSE: CLGX) reported a 5.9% annual increase in home prices for August 2020, up from 5.1% in July. Despite pandemic pressures, low mortgage rates have maintained strong buyer demand, although inventory fell 17% year over year. The HPI Forecast suggests home price growth will slow to 0.2% by August 2021 due to increasing home availability and rising unemployment. The Market Risk Indicator highlights Las Vegas and Miami as having a high risk of price declines.
Kennedy Enterprises LP, a significant shareholder of CoreLogic, has expressed strong opposition to the $66.00 per share acquisition proposal by Senator Investment Group and Cannae Holdings. Parker S. Kennedy, General Partner at Kennedy Enterprises, emphasized the company's robust management and asset strength, indicating confidence that CoreLogic will yield superior returns surpassing the acquisition bid. The firm will vote against the proposals at the Special Meeting scheduled for November 17, reinforcing its long-term investment strategy since 2010.
CoreLogic (NYSE: CLGX) announced that Dr. Frank Nothaft, executive and chief economist, has received the 2020 HousingWire Vanguard Award for his significant impact in housing and mortgage finance. With over 37 years of experience, Dr. Nothaft is recognized for his expertise in market analysis and forecasting. His insights are crucial for industry leaders, especially during the global pandemic's impact on housing. Underlining his influence, he has been quoted in over 2,800 online media pieces. CoreLogic continues to promote healthy housing markets through its data-enabled solutions.
Summary not available.
CoreLogic (NYSE: CLGX) has awarded the CoreLogic Impact Award to Brian Montgomery, the deputy secretary of the U.S. Department of Housing and Urban Development (HUD), during a virtual event. This award recognizes his leadership in addressing critical housing needs and managing HUD’s operations. Montgomery has influentially led FHA modernization efforts and secured substantial funding for technology innovation within FHA, amounting to $20 million annually for four years. His contributions have been key to navigating housing challenges during the COVID-19 crisis.