Investments in Affiliates

3 Months Ended

Mar. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investments in Affiliates

Investment in Affiliates, Net

Investments in affiliates are accounted for under the equity method of accounting when we are deemed to have significant influence over the affiliate but do not control or have a majority voting interest in the affiliate. Investments are carried at the cost of acquisition, including subsequent capital contributions and loans from us, plus our equity in undistributed earnings or losses since inception of the investment.

One of our subsidiaries previously owned a 50.1% interest in RELS LLC ("RELS"), a provider of appraisals and appraisal management services used in connection with mortgage loan originations. This investment contributed 81.3% of our total equity in earnings of affiliates, net of tax, for the three months ended March 31, 2015. We acquired the remaining interest in RELS in December 2015. See Note 12 - Acquisitions for further discussion. The following summarizes the financial information for this investment (assuming 100% ownership interest):

	For the Three Months Ended
(in thousands)	March 31, 2015
Statements of income
Total revenues	$	58,446
Expenses and other	48,262
Net income attributable to RELS LLC	$	10,184
CoreLogic equity in earnings of affiliate	$	5,102

We recorded equity in losses of affiliates, net of tax of $0.1 million and equity in earnings of affiliates, net of tax of $3.8 million for the three months ended March 31, 2016 and 2015, respectively. We recorded operating revenues related to our investment in affiliates of $2.5 million and $4.3 million for the three months ended March 31, 2016 and 2015, respectively. We also recorded operating expenses related to our investment in affiliates of $2.6 million and $3.4 million for the three months ended March 31, 2016 and 2015, respectively.