Profile: Altisource Portfolio Solutions SA (ASPS.O)
25 Apr 2017
Altisource Portfolio Solutions S.A. (Altisource), incorporated on November 22, 1999, is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The Company's business processes, vendor and electronic payment management software and behavioral science-based analytics manage outcomes for marketplace participants. It operates through three segments: Mortgage Services, Financial Services and Technology Services. The Mortgage Services segment provides loan servicers, originators, rental property investors and real estate consumers with products, services and technologies that span the mortgage and real estate lifecycle. The Financial Services segment provides collection services primarily to debt originators and servicers (credit card, auto lending, retail credit and mortgage) and customer relationship management services primarily to the utility, insurance and hotel industries. The Technology Services segment provides software and data analytics solutions that support the management of mortgage and real estate activities and marketplace transactions across the mortgage and real estate lifecycles and information technology (IT) infrastructure management services. Its customers include financial institutions in the United States, government-sponsored enterprises (GSEs), utility companies, commercial banks, servicers, investors, non-bank originators and correspondent lenders, mortgage bankers, insurance companies and financial services companies.
Within the Mortgage Services segment, the Company provides asset management services, origination services, insurance services, property valuation services and default management services. Its Asset Management Services include products, services and technologies used or licensed by loan servicers, rental property investors and real estate consumers to purchase, preserve, renovate, lease, manage, sell and auction single family residential real estate. Its Origination Services include products, solutions and services used or licensed by loan originators (or other similar mortgage market participants) in producing residential mortgages. Altisource also manages the Lenders One mortgage cooperative that provides its members with networking opportunities, industry-related education, and services and tools.
The Company's insurance services include origination and default related title insurance and settlement services for institutions and consumers, certified loan insurance and certification products to protect mortgage market participants against losses caused by mortgage underwriting defects, and residential and commercial loan and insurance claim disbursement processing, and risk mitigation and construction inspection services. Its property valuation services include appraisal management services and a range of broker and non-broker valuation products to support mortgage originators, loan servicers, rental property investors and consumers. Its default management services include foreclosure trustee services for loan servicers, and non-legal processing and related services for and under the supervision of foreclosure, bankruptcy and eviction attorneys.
Within the Financial Services segment, the Company provides asset recovery management and customer relationship management. Its asset recovery management services include post-charge-off debt collection services. Its customer relationship management primarily includes customer care, technical support and early stage collections services, as well as insurance call center and administrative support services.
Within the Technology Services segment, the Company provides software services and IT infrastructure services. Its software services include software and data analytics solutions that facilitate process automation, rules management, controls enforcement, data security, marketplace enablement and analytics-driven outcomes across the real estate and mortgage lifecycle. The Company provides these capabilities primarily as software-as-a-service (SaaS) to its customers and as enabling technologies to other Altisource business segments through a shared services model. Its servicer technologies include residential and commercial loan servicing, loss mitigation (loan modification, short sales, deed-in-lieu) and default services (real estate owned (REO), foreclosure, bankruptcy and eviction). Its origination technologies include a loan origination system, a borrower application portal, an underwriting and quality control solution, and a secondary loan trading platform. Its marketplace enabling technologies include vendor management, marketplace transaction management and payment management platforms, a document management platform and a data analytics delivery platform.
The Company's IT infrastructure services include IT management services, including, desktop support, data center support, network management, telephony services, application management and IT security, among others. Some or all of these services are provided to Ocwen Financial Corporation (Ocwen), Residential and Altisource Asset Management Corporation (AAMC) through services agreements and to other Altisource business segments through a shared services model.
Altisource Portfolio Solutions SA
40 Avenue Monterey