ASPS

Altisource Portfolio Solutions provides technology-enabled services and software platforms supporting mortgage servicers, real estate investors, and financial institutions managing residential real estate portfolios. Headquartered in Luxembourg with operations primarily in the United States and India, Altisource offers integrated marketplace solutions connecting service providers including property preservation companies, appraisers, real estate agents, and title companies with financial institutions requiring vendor management for default and non-default mortgage servicing activities. The company's platforms include Hubzu online real estate auction marketplace facilitating property sales for lenders and servicers, Equator workflow management software coordinating default management processes, and Springhouse technology solutions supporting loan servicers managing default portfolios. Altisource previously served as the primary service provider to Ocwen Financial, generating substantial revenues through exclusive arrangements, but business relationships significantly contracted following regulatory scrutiny of Ocwen's servicing practices and subsequent strategic restructuring. The company reported annual revenues declining from peak levels exceeding $1.5 billion to approximately $150-200 million as client concentrations decreased and competitive pressures intensified. Altisource employs approximately 1,500 people predominantly in India-based operations centers providing cost-efficient back-office support including data entry, document processing, and customer service functions supporting U.S. mortgage servicing clients. Recent strategic initiatives emphasize diversifying the customer base beyond historical Ocwen relationships, expanding technology platform adoption among mid-sized servicers, and pursuing international expansion opportunities in markets with developing mortgage servicing industries.