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Segment Information
 9 Months Ended
Sep. 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 $2.7 million and $2.2 million for the three months ended September 30, 2013 and 2012, respectively, and $11.2 million and $8.5 million for the nine months ended September 30, 2013 and 2012, respectively. The segment also includes intercompany expenses of $3.9 million and $0.6 million for the three months ended September 30, 2013 and 2012, respectively, and $6.0 million and $2.0 million for the nine months ended September 30, 2013 and 2012, respectively.

Mortgage Origination Services. Our mortgage origination services segment provides property 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 $1.7 million and $0.7 million for the three months ended September 30, 2013 and 2012, respectively, and $4.6 million and $2.1 million for the nine months ended September 30, 2013 and 2012, respectively. The segment also includes intercompany expenses of $2.6 million and $2.0 million for the three months ended September 30, 2013 and 2012, respectively, and $9.5 million and $7.8 million for the nine months ended September 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 $2.0 million and $0.7 million for the three months ended September 30, 2013 and 2012, respectively, and $4.2 million and $2.1 million for the nine months ended September 30, 2013 and 2012, respectively. The segment also includes intercompany expenses that were not considered significant for the three and nine months ended September 30, 2013 and 2012.

Corporate consists primarily of investment gains and losses, corporate personnel and other expenses associated with our corporate functions and facilities, equity in earnings of affiliates, net of tax, and interest expense.

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 September 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
 
$
159,271

 
$
19,034

 
$
28,833

 
$
456

 
$
36,094

 
$
14,338

Mortgage origination services
 
184,313

 
7,294

 
45,334

 
8,786

 
55,234

 
5,734

Asset management and processing solutions
 
68,343

 
575

 
13,877

 
—

 
13,877

 
34

Corporate
 
148

 
2,792

 
(16,028
)
 
(3,526
)
 
(55,206
)
 
7,048

Eliminations
 
(6,533
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
405,542

 
$
29,695

 
$
72,016

 
$
5,716

 
$
49,999

 
$
27,154


 


 


 


 


 


 


For the three months ended September 30, 2012
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
154,715

 
$
17,729

 
$
29,325

 
$
489

 
$
31,287

 
$
14,114

Mortgage origination services
 
169,357

 
6,377

 
49,970

 
12,851

 
62,736

 
3,679

Asset management and processing solutions
 
89,364

 
799

 
16,722

 
—

 
16,792

 
1,219

Corporate
 
146

 
8,132

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

Eliminations
 
(3,822
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
409,760

 
$
33,037

 
$
61,382

 
$
8,166

 
$
36,163

 
$
22,471


 


 


 


 


 


 


For the nine months ended September 30, 2013
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
489,311

 
$
57,762

 
$
84,384

 
$
1,639

 
$
93,118

 
$
41,298

Mortgage origination services
 
545,196

 
21,208

 
145,023

 
36,648

 
182,519

 
13,552

Asset management and processing solutions
 
215,199

 
1,918

 
37,329

 
—

 
38,839

 
289

Corporate
 
493

 
18,445

 
(71,059
)
 
(14,439
)
 
(185,419
)
 
25,612

Eliminations
 
(20,516
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
1,229,683

 
$
99,333

 
$
195,677

 
$
23,848

 
$
129,057

 
$
80,751


 


 


 


 


 


 


For the nine months ended September 30, 2012
 
 

 
 

 


 


 
 

 
 

Data and analytics
 
$
453,666

 
$
54,150

 
$
85,597

 
$
1,704

 
$
88,062

 
$
42,027

Mortgage origination services
 
459,170

 
20,419

 
119,093

 
46,239

 
164,872

 
12,533

Asset management and processing solutions
 
257,995

 
3,406

 
46,931

 
—

 
47,145

 
3,103

Corporate
 
488

 
15,594

 
(77,585
)
 
(18,562
)
 
(193,950
)
 
5,144

Eliminations
 
(14,097
)
 
(135
)
 
135

 
—

 
135

 
—

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

 
$
93,434

 
$
174,171

 
$
29,381

 
$
106,264

 
$
62,807


(in thousands)
 
As of
 
As of
Assets
 
September 30, 2013
 
December 31, 2012
Data and analytics
 
$
1,348,608

 
$
1,375,775

Mortgage origination services
 
1,155,484

 
1,000,382

Asset management and processing solutions
 
192,161

 
211,515

Corporate
 
4,464,807

 
4,344,263

Eliminations
 
(4,077,153
)
 
(3,902,902
)
Consolidated (excluding discontinued operations)
 
$
3,083,907

 
$
3,029,033