Altisource® is a leading and trusted provider of a full end-to-end suite of innovative solutions for servicers, originators, and investors in the real estate and mortgage industries. Altisource has been helping companies maximize results, minimize costs, and mitigate risks since 2009. By combining operational excellence and best practices with the company’s integrated services and technologies, Altisource’s dedicated teams can provide clients with the tailored solutions they need to fulfill the demands of their complex, highly regulated industries on a nationwide scale.
Altisource invests in and develops proprietary technology to increase efficiencies and enable high-quality output for all of its clients.
John Vella, Altisource’s Chief Revenue Officer, told DS News, “Our workflow management, artificial intelligence, and document imaging, as well as other emerging technologies, are under constant review to ensure we remain best-in-class.” Altisource’s suite of scalable systems also automates many manual processes and operations, which Vella says helps the company “deliver services with greater speed, accuracy, efficiency, and profitability.”
Positioned for Success for 2021
Altisource has weathered the storms and challenges of last year and come out poised to achieve even greater success in the months ahead. When facing the unexpected hurdles imposed by COVID-19 last year, Vella says that the company remained focused on the health and safety of its employees and on supporting its client base.
“The default business was impacted due to the moratoriums, but we quickly pivoted to create a customer service center to assist servicers with forbearance needs,” Vella explained. “We continued to invest in our default business and technology to ensure that when the moratoriums end that we are in a proper position to manage the resurgence for our clients. Our Equator® technology and Hubzu® marketplace technology continue to be enhanced to provide the industry with two of the leading default platforms when it comes to managing distressed assets.”
This year, Altisource is working to further enhance its suite of products in the single-family rental business, providing investors with a marketplace of solutions to assist them in buying, managing, and selling real estate. The company is also leveraging Hubzu.com and Equator.com to assist investors in buying and selling single-family homes, as well as upgrading its field services business with new technology and an enhanced vendor network.
Altisource’s Lenders One cooperative, which accounts for over 16% of the origination market, also continues to grow.
Core Team Philosophies
Recognizing the importance of a diverse workforce, Vella said that Altisource works “to create environments where all people are encouraged to draw upon their unique experiences, perspectives, and backgrounds.”
He notes that the company “casts a wide net” when looking for new talent, primarily through building relationships with local universities, associations, and focus groups.
That “wide net” has served the company well during the headwinds of the past year, affording it the ability to pivot and leverage its strengths as the default sector of the industry faced the economic impact of increased forbearance and foreclosure moratoria.
“As the default business has slowed down, we have maintained staffing for our clients and shifted some of the resources to our fast-growing originations and real estate business lines,” Vella explained. “When the default business picks back up, we will have our experienced staff ready to go to deliver for our clients.”
With many options available throughout the diverse and complex mortgage industry, why should someone considering a mortgage career choose Altisource? Vella explains that a career with Altisource means a variety of possible paths, all under the same corporate “roof.”
“Altisource is one of the few providers at scale of end-to-end offerings for the origination, servicing, and real estate ecosystem, which offers great opportunities for career development and growth,” Vella noted. “Our employee efforts have an impact on our client performance and set trends in the mortgage industry. We are committed to empowering our employees to achieve individual and business goals by creating a challenging and supportive workplace.”
Ready for What's Next
With the originations sector booming and default preparing to deal with the inevitable increase in workload as moratoria lapse and homeowners exit forbearance, Altisource is prepared to assist its clients with any challenges that may arise.
“Our number-one focus has always been client performance,” Vella said. “During this pandemic, we have not lost sight of that goal as we continue to get better and invest in our company and our people.”