Items Tagged with 'Altisource Portfolio Solutions'

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Monday Morning Cup of Coffee: Judge tosses Ocwen, Altisource kickback lawsuit

Calls alleged actions "extremely troubling," but says case doesn’t hold up
It’d be pretty safe to say that Ocwen Financial struggled the past few years. But, the company got a little bit of good news last week, when a judge dismissed a lawsuit accusing Ocwen and Altisource Portfolio Solutions of overcharging homeowners for service. The question now becomes are the company’s next steps forward? Backward? Or right into the eye of another storm? All that and more in your Monday Morning Cup of Coffee.
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Ocwen and Altisource bouncing back?

Numbers up following Ocwen’s good news
After the plummet over the past week, Ocwen and Altisource may be bouncing back. The stock in each company is back to what it was at the beginning of last week. The report could mean an upgrade in Ocwen’s rating by S&P.
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Altisource adds two senior executives in origination solutions

Will manage and oversee sales
Altisource Portfolio Solutions recently announced that it hired two mortgage industry executives, Michael Kuentz and Justin Vedder, who will take on the positions of vice president of national sales for Lenders One and vice president of national sales for AltiSource Orginiation Solutions, respectively.
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SEC fines Ocwen $2 million for misstating financials; Altisource, HLSS relationships

Used flawed MSR valuation methods
Ocwen Financial will pay a $2 million fine after a Securities and Exchange Commission investigation found that the nonbank misstated it financials on several occasions by using a “flawed, undisclosed methodology” to value mortgage servicing rights that were sold to an Ocwen-associated company, Home Loan Servicing Solutions.
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Altisource acquires RentRange and Investability

Expands company’s capabilities in rental market
Altisource Portfolio Solutions, a provider of mortgage, financial and technology services for the real estate industry, is expanding with a pair of acquisitions. The company announced Tuesday that it is set to acquire RentRange and Investability.
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Altisource hires two new senior leadership roles

Fill spots in government and client relations
Altisource Portfolio Solutions, a provider of mortgage, financial and technology services, hired Riccardo Brizzi as chief client officer and Kirk Willison as senior vice president of government and industry relations.
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Altisource announces acquisition of CastleLine

Provider of mortgage underwriting insurance joins Altisource family
Altisource Portfolio Solutions, a marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries, announced Thursday that it is acquiring CastleLine Holdings, a specialty risk management and insurance services firm.
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Altisource Residential CEO Ashish Pandey stepping down

Current president George Ellison to take over July 1
Ashish Pandey, who has served as the chief executive officer of Altisource Residential Corporation since the company was spun off from Altisource Portfolio Solutions in 2012, is stepping down. According to a release from the company, Pandey is leaving Altisource Residential to “pursue personal interests” in India.
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