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

CoreLogic® (NYSE: CLGX) 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.

Bank of America’s flood zone determination and tax servicing operations will be integrated in CoreLogic’s existing flood and tax servicing business units and the combined financial results will be reported within the Company’s Mortgage Origination Services segment. The purchase transaction closed on July 1, 2013 and was funded by cash on hand.

Source: CoreLogic

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