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Segment Information
 6 Months Ended
Jun. 30, 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 $3.6 million and $2.2 million for the three months ended June 30, 2013 and 2012, respectively, and $8.5 million and $6.2 million for the six months ended June 30, 2013 and 2012, respectively. The segment also includes intercompany expenses of $1.1 million and $0.8 million for the three months ended June 30, 2013 and 2012, respectively, and $2.0 million and $1.4 million for the six months ended June 30, 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 $1.6 million and $0.8 million for the three months ended June 30, 2013 and 2012, respectively, and $2.9 million and $1.5 million for the six months ended June 30, 2013 and 2012, respectively. The segment also includes intercompany expenses of $3.0 million and $2.1 million for the three months ended June 30, 2013 and 2012, respectively, and $6.9 million and $5.9 million for the six months ended June 30, 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 $1.3 million and $0.8 million for the three months ended June 30, 2013 and 2012, respectively, and $2.2 million and $1.5 million for the six months ended June 30, 2013 and 2012, respectively. The segment also includes intercompany expenses that were not considered significant for the three and six months ended June 30, 2013 and 2012.

Corporate consists primarily of investment gains and losses, corporate personnel and other operating expenses associated with our corporate functions and 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 June 30, 2013
 
Operating Revenues
 
Depreciation and Amortization
 
Operating Income/(Loss)
 
Equity in Earnings/(Loss) of Affiliates, Net of Tax
 
Net Income/(Loss) From Continuing Operations
 
Capital Expenditures
Data and analytics
 
$
168,974

 
$
19,176

 
$
31,244

 
$
546

 
$
31,923

 
$
13,799

Mortgage origination services
 
184,432

 
7,244

 
49,006

 
14,415

 
63,285

 
3,570

Asset management and processing solutions
 
80,050

 
670

 
17,947

 
—

 
17,951

 
168

Corporate
 
179

 
7,734

 
(29,811
)
 
(5,616
)
 
(68,299
)
 
8,431

Eliminations
 
(6,663
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
426,972

 
$
34,824

 
$
68,386

 
$
9,345

 
$
44,860

 
$
25,968


 


 


 


 


 


 


For the three months ended June 30, 2012
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
151,896

 
$
18,676

 
$
32,735

 
$
572

 
$
32,894

 
$
14,119

Mortgage origination services
 
148,048

 
6,962

 
38,119

 
18,533

 
56,575

 
4,297

Asset management and processing solutions
 
93,646

 
1,811

 
19,790

 
—

 
19,860

 
1,063

Corporate
 
151

 
3,576

 
(23,202
)
 
(7,360
)
 
(68,306
)
 
379

Eliminations
 
(4,380
)
 
(120
)
 
120

 
—

 
120

 
—

Consolidated (excluding discontinued operations)
 
$
389,361

 
$
30,905

 
$
67,562

 
$
11,745

 
$
41,143

 
$
19,858


 


 


 


 


 


 


For the six months ended June 30, 2013
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
330,039

 
$
38,728

 
$
55,550

 
$
1,183

 
$
57,023

 
$
26,959

Mortgage origination services
 
360,883

 
13,913

 
99,692

 
27,862

 
127,288

 
7,818

Asset management and processing solutions
 
146,856

 
1,343

 
23,451

 
—

 
24,961

 
255

Corporate
 
346

 
15,654

 
(55,031
)
 
(10,913
)
 
(130,213
)
 
18,568

Eliminations
 
(13,983
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
824,141

 
$
69,638

 
$
123,662

 
$
18,132

 
$
79,059

 
$
53,600


 


 


 


 


 


 


For the six months ended June 30, 2012
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
298,951

 
$
36,421

 
$
56,272

 
$
1,215

 
$
56,776

 
$
27,913

Mortgage origination services
 
289,814

 
14,043

 
69,122

 
33,388

 
102,135

 
8,854

Asset management and processing solutions
 
168,630

 
2,606

 
30,209

 
—

 
30,353

 
1,884

Corporate
 
342

 
7,462

 
(42,949
)
 
(13,388
)
 
(119,298
)
 
1,685

Eliminations
 
(10,275
)
 
(135
)
 
135

 
—

 
135

 
—

Consolidated (excluding discontinued operations)
 
$
747,462

 
$
60,397

 
$
112,789

 
$
21,215

 
$
70,101

 
$
40,336


(in thousands)
 
As of
 
As of
Assets
 
June 30, 2013
 
December 31, 2012
Data and analytics
 
$
1,325,344

 
$
1,375,775

Mortgage origination services
 
1,017,562

 
1,000,382

Asset management and processing solutions
 
193,812

 
211,515

Corporate
 
4,501,099

 
4,344,263

Eliminations
 
(4,014,649
)
 
(3,902,902
)
Consolidated (excluding discontinued operations)
 
$
3,023,168

 
$
3,029,033