RealtyTrac is a real estate information company and an online marketplace for foreclosed and defaulted properties in the United States.
Initially, the business located repossessed houses and sold the information to real estate agents, expanding by 1998 to cover 100,000 properties in the state of California.
[7][10] In 1996 White teamed up with Hughes Aircraft Research Engineer Ronald Schwarzrock to found Realtytrac Information Systems LLC, with Keane as the lead programmer.
(Ref: CorporationWiki.com/Nevada/Carson-City/realtytrac-information-systems-llc/45853594.aspx) In 1998 Schwarzrock left Hughes Aircraft; he and Derek White opened the office in Westlake Village, California, just down the street from Realtor.com.
The company gained national attention after White made a presentation at the Inman Real Estate Connect in San Francisco and secured a pivotal relationship with Yahoo!
In January 2000, then Vice President at Comerica Bank, Matthew Mara (a golfing buddy of Mr. Schwarzrock) arranged a meeting between RealtyTrac LLC and First Security Van Kasper of Newport Beach, California, a brokerage and investment-banking company.
White and Schwarzrock went to Mara to set up a meeting with Rich Toubman's financial services firm, Global Vantage Ltd, located in Newport Beach.
[12][13] In 2000, Jim Saccacio stepped in as the CEO after White left to start Stellar Real Estate Solutions in Ohio.
[2][14] Saccacio, assisted by White's vision to sell data to Yahoo Real Estate, helped move the company from a statewide business to a national one.