Tag Archives: Altisource Portfolio Solutions

Altisource Portfolio Solutions S.A. recently announced in a press release that Jim Leath has joined the company as the VP of enterprise sales and business development for all of the company’s services.

Altisource Portfolio Solution's executive team saw a new addition this week, with industry veteran John Vella stepping into the newly created role of chief revenue officer.

Luxembourg-based mortgage servicer Altisource Portfolio Solutions is cutting more than 800 jobs both overseas and at home in the wake of what was a bumpy year for the company. The move was announced in a conference call with investors on Friday that saw Altisource management working to reassure shareholders who have seen their stock drop more than 80 percent in the last year.

One of the oldest and largest marketplaces for self-directed homebuyers and sellers, Owners.com joins real estate auction marketplace Hubzu.com as a platform for Altisource to continue to grow its online presence.

Altisource Portfolio Solutions, a global provider of services for the real estate, mortgage, and consumer debt industries, announced plans to acquire Equator, a solutions provider for the mortgage and real estate industries. The deal is valued at $70 million on closing and includes contingent earn out consideration of up to $80 million over three years, according to the announcement. Equator will still retain its name, offices, and management team after the acquisition, which is expected to close within 30 days.

Altisource Portfolio Solutions announced it is purchasing certain fee-based businesses from Ocwen Financial for a combined purchase price of $218.6 million. According to a company release, Altisource entered into non-binding letters of intent with Ocwen to acquire certain fee-based businesses related to the servicer's recent purchase of Homeward Residential and the anticipated purchase of the mortgage servicing platform from Residential Capital.

Altisource announced Monday the launch of Hubzu, an improved online residential real estate marketplace.

Specialty servicer Ocwen Financial Corporation recently launched a new product to help buyers of non-performing loan portfolios or residuals of private-label securities get more value from their loans. A turnkey product, PlatformPlus allows distressed asset investors to set up their own specialty servicing operations using Ocwen's expertise and management.

Default Resource, a provider of REO management, valuation, and loss mitigation services, has announced the hiring of James Zeldin as EVP and chief sales officer. Zeldin brings more than 20 years' experience in default management, origination services, REO management, and business process consulting to Default Resource. He previously served as SVP of business development for Altisource Portfolio Solutions and its predecessor company, Ocwen Financial Corporation.

Ever wonder what it's really like inside some of our industry's top companies? This month, DS News took a behind-the-scenes look at Altisource Portfolio Solutions to get an overview of how typical days unfold, examining everything from the company culture to the little-known facts you wouldn't get anywhere else.