CoreLogic Inc. set its physical footprint in Oklahoma City Thursday by celebrating its previous purchase of two local property data firms and announcing 5 percent employment growth, with plans for more high-paying jobs to come.
The company, with wide-ranging specialties in property valuation, started here with the 211 employees who came with Mercury Network and a la mode technologies, providers of software and services for mortgage lenders, appraisers and others in real estate.
"We are committed to Oklahoma City. We are committed to Oklahoma," Frank Martell, president and chief executive officer, told employees and dignitaries at its center at 501-D NE 122. "We have another 15-20 jobs we're in the process of recruiting."
The acquisitions makes Oklahoma City one of Irvine, California-based CoreLogic's largest corporate locations. Publicly traded CoreLogic -- ticker symbol CLGX on the New York Stock Exchange -- has some 7,000 employees nationally.
"This is going to be a hub for a lot of our platform efforts around connecting the key constituencies in the property area across the U.S.," Martell told the group before snipping a decorative CoreLogic ribbon with an oversized pair of scissors.
"You guys are going to be key leaders in that area. I look forward to watching it grow from here, and prosper, and be a success here in Oklahoma City," he said.
U.S. Rep Steve Russell (R-Oklahoma) extolled the high-quality, high-tech workforce that CoreLogic acquired with Mercury Network and a la mode. He said the jobs have more than an economic impact.
"There are people that, really, their whole lives hang on the information that you provide, how accurate it is, and the decisions that it helps leaders to coordinate and make, and all of that is because of the work that you do every single day," he said.
In an interview, Martell said the acquisitions help CoreLogic expand its capabilities in providing "unique solutions" around residential property valuation.
"We power mortgage underwriting. We power insurance around property," he said. "We power a wide array of risk management solutions and monitoring solutions for residential properties for over 500 insurance carriers, 1,000-plus lenders, 20 federal agencies -- a wide variety, including real estate agents, home inspectors, home appraisers, etc."
CoreLogic's workforce includes tech professionals, analysts, and scientists, with other employees in manufacturing and various services.
"People don't know CoreLogic in this context, but we are perhaps the most pre-eminent weather modeling company in the U.S.," Martell said. "So we know everything about flooding events, for example -- hurricane-related, flash floods, salt water inundation -- and this helps our clients really assess the risk around property that they either purchase, insure or underwrite."