XML 58 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Information
 3 Months Ended
Mar. 31, 2013
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 asset management and processing solutions.

Data and Analytics. Our data and analytics segment owns or licenses data assets including loan information, criminal and eviction records, employment verification, property characteristic information and information on mortgage-backed securities. We both 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 are also a provider of geospatial proprietary software and databases combining geographic mapping and data. 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 $5.0 million and $4.0 million for the three months ended March 31, 2013 and 2012, respectively. The segment also includes intercompany expenses of $0.9 million and $0.6 million for the three months ended March 31, 2013 and 2012, 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. 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, and government agencies.

Our mortgage origination services segment includes intercompany revenues of $1.3 million and $0.7 million for the three months ended March 31, 2013 and 2012, respectively. The segment also includes intercompany expenses of $3.9 million and $3.8 million for the three months ended March 31, 2013 and 2012, respectively.

Asset Management and Processing Solutions. Our asset management and processing solutions segment provides mortgage default management services, loss mitigation services, property valuation, processing solutions 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 and property and casualty insurance companies.

Our asset management and processing solutions segment includes intercompany revenues of $0.9 million and $0.6 million for the three months ended March 31, 2013 and 2012, respectively. The segment also includes intercompany expenses that were not considered significant for the three months ended March 31, 2013 and 2012, respectively.

Corporate consists primarily of investment gains and losses, corporate personnel and other operating expenses associated with our corporate facilities, certain technology initiatives, equity in earnings of affiliates, net of tax, unallocated interest expense, and our marketing services group (which focuses on lead generation).

It is impracticable to disclose revenues from external customers for each product and service offered.


Selected financial information by reportable segment is as follows:

(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
For the three months ended March 31, 2013
 
Operating Revenues
 
Depreciation and Amortization
 
Income/(Loss) From Continuing Operations
 
Equity in Earnings/(Loss) of Affiliates, Net of Tax
 
Net Income/(Loss) From Continuing Operations
 
Capital Expenditures
Data and analytics
 
$
161,065

 
$
19,552

 
$
24,305

 
$
637

 
$
25,099

 
$
13,160

Mortgage origination services
 
176,450

 
6,669

 
50,685

 
13,447

 
64,002

 
4,248

Asset management and processing solutions
 
66,806

 
673

 
5,503

 
—

 
7,010

 
87

Corporate
 
167

 
7,920

 
(25,219
)
 
(5,297
)
 
(61,913
)
 
10,137

Eliminations
 
(7,320
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
397,168

 
$
34,814

 
$
55,274

 
$
8,787

 
$
34,198

 
$
27,632


 


 


 


 


 


 


For the three months ended March 31, 2012
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
147,055

 
$
17,746

 
$
23,537

 
$
644

 
$
23,883

 
$
13,794

Mortgage origination services
 
141,766

 
7,080

 
31,004

 
14,856

 
45,562

 
4,557

Asset management and processing solutions
 
74,984

 
795

 
10,417

 
—

 
10,491

 
821

Corporate
 
191

 
3,885

 
(19,746
)
 
(6,030
)
 
(50,993
)
 
1,306

Eliminations
 
(5,895
)
 
(15
)
 
15

 
—

 
15

 
—

Consolidated (excluding discontinued operations)
 
358,101

 
29,491

 
45,227

 
9,470

 
28,958

 
20,478


(in thousands)
 
As of
 
As of
Assets
 
March 31, 2013
 
December 31, 2012

Data and analytics
 
$
1,359,933

 
$
1,375,775

Mortgage origination services
 
1,025,274

 
1,000,382

Asset management and processing solutions
 
194,222

 
211,515

Corporate
 
4,315,031

 
4,344,264

Eliminations
 
$
(3,887,060
)
 
$
(3,902,903
)
Consolidated (excluding discontinued operations)
 
$
3,007,400

 
$
3,029,033