The Federal Trade Commission has ordered CoreLogic to provide national assessor and recorder data to Renwood RealtyTrac until at least 2022.
The order extends by an additional three years the original term under a 2014 settlement related to CoreLogic’s acquisition of DataQuick Information Systems. At that time, the FTC had expressed concerns over the deal, alleging that the proposed purchase would significantly reduce competition in the market for national bulk data in violation of federal antitrust laws.
To resolve the FTC’s concerns, CoreLogic agreed to divest bulk data and information used by DataQuick to Renwood RealtyTrac. CoreLogic also agreed to provide other support so that RealtyTrac could replace DataQuick as a competitor in the national bulk data market.
However, the FTC claimed that CoreLogic did not provide all of the required data and information within the deadlines set in the order. Additionally, the FTC alleged that CoreLogic did not adequately identify and provide to Renwood RealtyTrac the full scope of bulk data and information DataQuick used in the bulk data market.
Although CoreLogic disputes the allegation, the company entered into a consent order with the FTC to amend the 2014 order. The FTC said that its modifications and additions to the 2014 order are necessary for CoreLogic to address deficiencies in its compliance with the original order.
In addition to extending the period under which CoreLogic is required to provide data to Renwood RealtyTrac, the modified order also adds a Service Level Addendum that provides quality metrics and service requirements as well as a Technical Transfer Plan that includes requirements for the transfer of data and information.