Articles Tagged with ''Altisource Portfolio Solutions''

Altisource selling financial services business to Transworld Systems

Will receive $44 million for the sale
Altisource Portfolio Solutions announced last week that it is selling its financial services business to Transworld Systems, a provider of accounts receivable management, healthcare revenue cycle and loan servicing solutions. Altisource's financial services business includes Nationwide Credit, a provider of collections, customer relationship management and call center outsourcing for the financial, retail credit, mortgage servicing, insurance, utility, and hospitality industries.
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Former Altisource CTO becomes Cloudvirga EVP of technology

Hires James Vinci to oversee tech initiatives
Digital mortgage software company Cloudvirga has named James Vinci executive vice president of technology In this newly created role, Vinci will oversee initiatives to strengthen developer talent and collaborate across departments to scale technical initiatives to accommodate growth.
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Altisource Portfolio Solutions ending home buying business

Company winding down buy-renovate-lease-sell business
Altisource Portfolio Solutions announced Monday that it is exiting its home buying business. According to the company, Altisource plans to discontinue its "Buy-Renovate-Lease-Sell" business, which focuses on buying, renovating, leasing, and selling single-family homes to real estate investors.
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Altisource says CFPB will not fine company over relationship with Ocwen

REALServicing at the center of CFPB probe
Just over a year ago, Altisource Portfolio Solutions disclosed that the Consumer Financial Protection Bureau was investigating the company’s relationship with Ocwen Financial, but now, it looks that investigation is over. Altisource revealed Thursday that the CFPB told the company that its investigation has been completed and that the agency will not pursue an enforcement action against the company.
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Altisource’s Premium Title expands to four new states

Now providing services in Idaho, New Mexico, Oregon, Washington
Premium Title, a provider of title and escrow services and a member of the Altisource Portfolio Solutions family of companies, is set to expand to four new states. The company announced Tuesday that it secured escrow licensing in Idaho, New Mexico, Oregon, and Washington, which allows the company to begin offering services in those states.
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Ocwen moves closer to profitability amid extensive business changes

Posts net loss of $6 million in third quarter
It’s been a rough year for Ocwen Financial, but the company’s executives said Thursday that despite the nonbank posting its 4th straight quarterly loss, they believe they have the company pointed in the right direction. Here's why Ocwen is positive about its future.
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The Ocwen connection: New Residential, Altisource Portfolio Solutions ink REO agreement

Altisource will provide marketing, listing services for REOs included in Ocwen MSRs
Over the last few months, New Residential Investment significantly increased its mortgage servicing rights portfolio through a deal with Ocwen Financial. But that’s not the only new connection between Ocwen and New Residential, as a company that has a close relationship with Ocwen just inked a new deal with New Residential – 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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