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Segment Information
 9 Months Ended
Sep. 30, 2012
Segment Reporting [Abstract]  
Segment Information
Segment Information

We have organized our reportable segments into the following three segments: data and analytics, mortgage origination services and default services.

Data and Analytics. Our data and analytics segment owns or licenses data including real estate information (such as property characteristic information, mortgage information, collateral information, and images of publicly recorded documents relating to real property), mortgage-backed securities information, criminal and eviction records, employment verification, and under-banked credit information. We license our data directly to our customers and provide our customers with analytical products for risk management, collateral assessment, loan quality reviews and fraud assessment. We also provide consumer screening and risk management for the multi-family housing and under-banked credit services industries. Our primary customers are commercial banks, mortgage lenders and brokers, investment banks, fixed-income investors, real estate agents, property and casualty insurance companies, title insurance companies and government-sponsored enterprises.

Our data and analytics segment includes intercompany revenues of $2.2 million and $2.9 million for the three months ended September 30, 2012 and 2011, respectively, and $8.5 million and $9.9 million for the nine months ended September 30, 2012 and 2011, respectively. The segment also includes intercompany expenses of $1.4 million and $2.9 million for the three months ended September 30, 2012 and 2011, respectively, and $4.9 million and $9.4 million for the nine months ended September 30, 2012 and 2011, respectively.

Mortgage Origination Services. Our mortgage origination services segment provides tax monitoring, flood zone certification and monitoring, credit services, mortgage loan administration and production services, lending solutions and mortgage-related business process outsourcing. We are also a provider of geospatial proprietary software and databases combining geographic mapping and data. The segment’s primary customers are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, government agencies and property and casualty insurance companies.

Our mortgage origination services segment includes intercompany revenues of $0.7 million and $2.4 million for the three months ended September 30, 2012 and 2011, respectively, and $2.1 million and $4.2 million for the nine months ended September 30, 2012 and 2011, respectively. The segment also includes intercompany expenses of $2.1 million and $6.2 million for the three months ended September 30, 2012 and 2011, respectively, and $8.3 million and $25.5 million for the nine months ended September 30, 2012 and 2011, respectively.

Default Services. Our default services segment provides mortgage default management services, loss mitigation services, claims management, property valuation and management services. The segment’s primary customers are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, government agencies, government-sponsored enterprises and property and casualty insurance companies.

Our default services segment includes intercompany revenues of $0.7 million and $0.3 million for the three months ended September 30, 2012 and 2011, respectively, and $2.1 million and $0.5 million for the nine months ended September 30, 2012 and 2011, respectively. The segment also includes intercompany expenses of $0.1 million and $4.2 million for the three months ended September 30, 2012 and 2011, respectively, and $0.3 million and $12.8 million for the nine months ended September 30, 2012 and 2011, respectively.

Corporate and Eliminations consists primarily of investment gains and losses, corporate personnel, and other operating expenses associated with our corporate facilities, certain technology initiatives, income taxes, unallocated interest expense and elimination of intercompany revenues included in the results of the reportable segments.

Selected financial information by reportable segment is as follows:

(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
For the three months ended September 30, 2012
 
Operating Revenue
 
Depreciation and Amortization
 
Income From Continuing Operations
 
Equity in Earnings of Affiliates, Net of Tax
 
Net Income/(Loss) From Continuing Operations
 
Capital Expenditures
Data and analytics
 
$
148,953

 
$
17,697

 
$
27,695

 
$
489

 
$
29,657

 
$
14,114

Mortgage origination services
 
175,120

 
6,409

 
51,600

 
12,851

 
64,366

 
3,679

Default services
 
89,364

 
799

 
16,722

 
—

 
16,792

 
1,219

Corporate and eliminations
 
(3,677
)
 
8,132

 
(34,635
)
 
(5,174
)
 
(74,652
)
 
3,459

Consolidated (excluding discontinued operations)
 
$
409,760

 
$
33,037

 
$
61,382

 
$
8,166

 
$
36,163

 
$
22,471


 


 


 


 


 


 


For the three months ended September 30, 2011
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
139,813

 
$
22,375

 
$
15,854

 
$
350

 
$
15,235

 
$
10,375

Mortgage origination services
 
129,176

 
6,719

 
20,490

 
13,411

 
34,534

 
3,668

Default services
 
85,106

 
1,292

 
12,708

 
(34
)
 
12,747

 
1,473

Corporate and eliminations
 
(5,649
)
 
4,458

 
(21,212
)
 
(5,387
)
 
(65,408
)
 
2,121

Consolidated (excluding discontinued operations)
 
$
348,446

 
$
34,844

 
$
27,840

 
$
8,340

 
$
(2,892
)
 
$
17,637


 


 


 


 


 


 


For the nine months ended September 30, 2012
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
435,893

 
$
53,351

 
$
80,764

 
$
1,705

 
$
83,230

 
$
42,027

Mortgage origination services
 
476,944

 
21,219

 
123,925

 
46,239

 
169,705

 
12,533

Default services
 
257,995

 
3,406

 
46,931

 
—

 
47,145

 
3,103

Corporate and eliminations
 
(13,610
)
 
15,458

 
(77,449
)
 
(18,563
)
 
(193,816
)
 
5,144

Consolidated (excluding discontinued operations)
 
$
1,157,222

 
$
93,434

 
$
174,171

 
$
29,381

 
$
106,264

 
$
62,807


 


 


 


 


 


 


For the nine months ended September 30, 2011
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
386,875

 
$
48,237

 
$
49,615

 
$
1,089

 
$
50,398

 
$
31,341

Mortgage origination services
 
370,512

 
17,896

 
53,494

 
32,733

 
113,302

 
9,213

Default services
 
250,371

 
3,952

 
39,362

 
(129
)
 
38,883

 
3,454

Corporate and eliminations
 
(14,609
)
 
14,075

 
(69,223
)
 
(13,300
)
 
(142,766
)
 
9,424

Consolidated (excluding discontinued operations)
 
$
993,149

 
$
84,160

 
$
73,248

 
$
20,393

 
$
59,817

 
$
53,432


(in thousands)
 
As of
 
As of
Assets
 
September 30, 2012
 
December 31, 2011

Data and analytics
 
$
1,257,857

 
$
1,248,436

Mortgage origination services
 
1,044,557

 
1,039,069

Default services
 
229,631

 
226,034

Corporate and eliminations
 
422,563

 
541,016

Consolidated (excluding discontinued operations)
 
$
2,954,608

 
$
3,054,555