CoreLogic Completes Sale Of Collateral Solutions, Field Services Units

(RTTNews) - CoreLogic, Inc. (CLGX) said Tuesday that it has completed the sale of its Collateral Solutions and Field Services business units to Mortgage Contracting Services, LLC.

The Collateral Solutions and Field Services units had previously been held for sale as part of the company's restructuring of its Asset Management and Processing Solutions segment.

Total consideration for the sale of Collateral Solutions and Field Services includes $25 million due at closing and an additional contingent amount of up to $20 million based on the achievement of certain performance thresholds during the year following the closing of the deal.

The remaining units constituting the Asset Management and Processing Solutions segment, which include Technology Solutions, Solutions Express and Outsourcing Services, will be integrated into the company's Technology and Processing Solutions segment as ongoing operations effective as of September 30.