Items Tagged with 'Altisource Portfolio Solutions'

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Altisource launches mortgage trading platform

noteXchange to deliver greater efficiency
Yet another company found a way to increase their security in light of the increasing number of hacks in the mortgage space. Altisource launched its new mortgage trading platform which creates more efficiency and security in the secondary mortgage market.
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Altisource Portfolio Solutions to pay $32 million to settle class action suit over Ocwen relationship

Investors sued when stock plummeted after NYDFS investigation
Altisource Portfolio Solutions revealed recently that the CFPB is looking into the company’s relationship with Ocwen Financial. But that wasn’t the only Ocwen-related revelation of the week. The company also reached a $32 million settlement in a class action lawsuit brought by Altisource investors who claimed financial harm after Altisource’s stock plummeted when the New York Department of Financial Services began investigating the company’s relationship with Ocwen in 2014.
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Altisource Portfolio Solutions reveals CFPB probe into relationship with Ocwen

Received letter about potential enforcement action
The Consumer Financial Protection Bureau is looking into the relationship between Altisource Portfolio Solutions and Ocwen Financial, Altisource revealed on Thursday. According to Altisource, the CFPB is “considering a potential enforcement action against Altisource relating to an alleged violation of federal law that primarily concerns certain technology services provided to Ocwen.”
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Altisource Origination Services rebrands as Trelix

Will launch new tech platform in 2017
Altisource Origination Services announced today it is leaving the Altisource name behind, and rebranding itself as Trelix. The name change is more than just a name change, according to the company president, who calls it the next step in the company's evolution. The company will also make another announcement in 2017 introducing its new technology platform.
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Altisource Residential doubles single-family rental portfolio with $652 million deal

Agrees to buy 4,262 rental homes
When Altisource Residential said last year that it planned to grow its portfolio of single-family rental homes by 900% – from 2,516 to more than 25,000 – over the next few years, the company apparently wasn’t kidding. Altisource said Friday that it is buying a portfolio of 4,262 single-family rental properties for an aggregate purchase price of $652.3 million, a deal that more than doubles Altisource’s rental holdings.
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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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