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Altisource Portfolio Solutions S.A. - ASPS STOCK NEWS

Welcome to our dedicated page for Altisource Portfolio Solutions S.A. news (Ticker: ASPS), a resource for investors and traders seeking the latest updates and insights on Altisource Portfolio Solutions S.A. stock.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a leading integrated service provider and marketplace specializing in the real estate and mortgage industries. With a commitment to operational excellence, Altisource offers a comprehensive suite of innovative products and technologies designed to meet the evolving demands of these markets. The company operates through two primary segments: Servicer and Real Estate and Origination.

The Servicer and Real Estate segment focuses on providing loan servicers and real estate investors with end-to-end solutions that cover the entire mortgage and real estate lifecycle. This includes asset management, field services, and real estate sales.

The Origination segment delivers technology and services that support mortgage originators throughout the mortgage origination process. Altisource’s clientele primarily consists of financial institutions, government-sponsored enterprises, and mortgage originators in the United States.

In recent news, Altisource has announced a significant partnership with Celink™, a leading reverse mortgage subservicer. Altisource has been retained as the REO asset manager for a portion of Celink’s HECM/reverse mortgage portfolio. This collaboration not only highlights Altisource’s robust asset management capabilities but also marks an exciting expansion into the reverse mortgage REO space.

Furthermore, three of Altisource’s technology businesses, Hubzu®, Equator®, and RentRange®, have been recognized in HousingWire’s annual HW TECH100™ Real Estate list for 2024. This prestigious award celebrates the top 100 innovative technology companies in the real estate sector, underscoring Altisource’s leadership in technological innovation. These platforms enhance market efficiencies and provide clients with cutting-edge solutions to drive their businesses forward.

For more detailed information, please visit Altisource's official website.

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Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) reported its Q3 2021 financial results, showing significant challenges. Service revenue declined by 51% year-over-year to $41.6 million, with a net loss of $18.3 million, or $1.15 per diluted share. Despite this, the company anticipates stronger performance in 2022, fueled by its Default business and strategic initiatives in Origination. The anticipated sale of its equity interest in Pointillist is expected to enhance its balance sheet by adding approximately $100 million in cash. Cash operating costs were reduced by 26% year-over-year.

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Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) will report its third quarter 2021 earnings on November 4, 2021. A press release and presentation will be accessible on the company's Investor Relations website. Following the earnings release, a conference call will take place at 11:00 a.m. EDT to discuss the results. Interested listeners should visit the website 15 minutes in advance. A replay will be available approximately two hours post-call and remain accessible for 30 days.

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Lenders One has appointed Tricia Migliazzo as Senior Vice President of Origination Sales, effective October 15, 2021. With over 20 years in the mortgage industry, including previous roles at Lenders One and Altisource, she will manage sales teams and oversee various services like CastleLine and Premium Title. Lenders One is a leading cooperative in the mortgage sector, originating approximately $780 billion in mortgages in 2020. Migliazzo aims to enhance member competitiveness and growth.

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Altisource Portfolio Solutions (NASDAQ: ASPS) announced a definitive agreement for its subsidiary Pointillist to be acquired by Genesys for $150 million. Altisource expects to receive about $100 million in cash at closing, with an estimated $107 million post-tax gain from the transaction. Pointillist, founded in 2019, is a SaaS platform focused on customer journey management. The deal is subjected to customary closing conditions and anticipated to close by the end of 2021.

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Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) has partnered with ForumPay to facilitate real estate purchases using cryptocurrency, allowing buyers to convert digital assets into dollars seamlessly. This innovative option is available for properties listed on Equator.com and Hubzu.com, enabling a direct transfer of converted funds to Premium Title, Altisource's affiliate. The move is positioned as enhancing access for investors seeking to diversify their assets amid rising cryptocurrency values, marking a significant advancement in real estate transactions.

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Lenders One Cooperative hosted its first in-person event in over a year, the annual Summit in Orlando, FL, starting August 5, 2021. The event features a keynote by Frank Abagnale and aims to help members discover new strategies in the mortgage market. Since March 2020, Lenders One has welcomed 40 new members and launched initiatives to enhance performance. Key offerings include L1 Credit and the beta launch of LOLA, a loan automation technology. The cooperative also welcomed new capital markets providers and preferred partners to expand its services.

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Altisource Portfolio Solutions S.A. (ASPS) announced its Q2 2021 financial results, reporting service revenue of $44.0 million, a 52% decline year-over-year. However, the Origination business achieved a 16% revenue growth to $14.5 million, surpassing market expectations. The company's Default business is expected to recover in 2022, with projected revenue of $230 to $352 million. Altisource ended the quarter with $35.3 million in cash but reported a net loss of $18.5 million, or $(1.17) per share. The management is exploring strategic options to enhance shareholder value.

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Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) will announce its second quarter 2021 earnings on July 29, 2021. A press release and presentation will be accessible in the Investor Relations section of their website. Additionally, Altisource will hold a conference call at 8:30 a.m. EST on the same day to discuss the earnings results. Interested participants can register and access the live audio webcast on the company’s website. The call will also be available for replay approximately two hours post-event for 30 days.

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Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) has secured a revolving line of credit worth up to $20 million, facilitated by STS Mater Fund, Ltd., managed by Deer Park Road Management Company, LP. This Credit Agreement, effective as of June 22, 2021, allows borrowing in three stages over three years, with no financial covenants. The funds are aimed at enhancing liquidity amid pandemic impacts. CEO William B. Shepro expressed optimism regarding the return of demand in their default-related business and the growth potential from their origination services.

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Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) reported a challenging first quarter 2021, with service revenue declining by 58% year-over-year to $48.1 million, primarily due to COVID-19 related foreclosure moratoriums. Despite a 68% growth in its origination business to $16.8 million, the company faced significant losses, with a net loss of $22.0 million or $(1.40) per diluted share. However, Altisource anticipates a recovery in its default services by late 2021, projecting revenues between $243 million and $397 million post-stabilization. Cost-cutting measures are expected to save over $20 million in 2021.

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FAQ

What is the current stock price of Altisource Portfolio Solutions S.A. (ASPS)?

The current stock price of Altisource Portfolio Solutions S.A. (ASPS) is $0.738 as of January 6, 2025.

What is the market cap of Altisource Portfolio Solutions S.A. (ASPS)?

The market cap of Altisource Portfolio Solutions S.A. (ASPS) is approximately 19.6M.

What does Altisource Portfolio Solutions S.A. do?

Altisource provides integrated services and marketplaces for the real estate and mortgage industries, offering innovative products and technologies.

What are the main segments of Altisource’s business?

Altisource operates through two primary segments: Servicer and Real Estate, and Origination.

Who are Altisource’s primary clients?

Altisource primarily serves financial institutions, government-sponsored enterprises, and mortgage originators in the United States.

What recent partnerships has Altisource announced?

Altisource recently partnered with Celink, a leading reverse mortgage subservicer, to manage a portion of its HECM/reverse mortgage portfolio.

Which Altisource businesses were recognized in HousingWire’s HW TECH100™ Real Estate list for 2024?

Hubzu®, Equator®, and RentRange® were recognized in HousingWire’s HW TECH100™ Real Estate list for 2024.

What services does the Servicer and Real Estate segment provide?

This segment provides loan servicers and real estate investors with solutions including asset management, field services, and real estate sales.

What does the Origination segment of Altisource focus on?

The Origination segment focuses on providing technologies and services to support mortgage originators throughout the mortgage origination process.

Where is additional information about Altisource available?

Additional information is available on Altisource’s official website at www.altisource.com.
Altisource Portfolio Solutions S.A.

Nasdaq:ASPS

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19.59M
19.86M
26.85%
31.87%
3.44%
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