IRVINE, CA—CoreLogic, a leading global property information, analytics and data-enabled services provider, has entered into a definitive agreement to acquire FNC, Inc., a leading provider of real estate collateral information technology and solutions that automate property appraisal ordering, tracking, documentation and review for lender compliance with government regulations. The deal includes a purchase price of $475 million.
CoreLogic says the move expands its Valuation Solutions Group, noting that FNC delivers deep expertise in appraisal compliance, workflow best practices, and process efficiency to mortgage lenders and servicers, appraisal management companies, secondary and capital markets firms as well as property and casualty insurance companies.

"We are very pleased to add the FNC management and staff to the CoreLogic family. FNC is a pioneer in developing unique collateral information and technology platforms for the U.S. lending ecosystem," said Anand Nallathambi, president and CEO of CoreLogic. "Its business has been built around recurring, high-margin revenue streams. The acquisition of FNC is an important step in our development of a world-class property valuation solutions capability."

"FNC's platforms, together with our existing valuation-related assets and our recent acquisition of LandSafe Appraisal Services, allow us to gain operational scale and expand the value proposition of our VSG."