Items Tagged with 'Altisource Asset Managment'


  • Altisource Residential struggles with shift to single-family rentals

    Doubles portfolio but posts net loss in 3rd quarter
    Just a few months ago, Altisource Residential celebrated the fact that it was about to double the size of its portfolio of single-family rental homes, a move that marked a significant step in the company’s transition from a buyer of non-performing loans to an operator of rental homes. But the company's move to single-family rentals isn’t without its stumbling blocks along the way, as the company announced Monday that it posted a net loss of $57.6 million, or $1.06 per diluted share, in the third quarter.
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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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  • Ocwen ties that bind? Altisource Residential adds former HLSS exec

    Michael Lubin will also serve as senior vice president of AAMC
    In another sign that the relationship between Ocwen Financial and its affiliated companies, Altisource Portfolio Solutions, Altisource Residential Corporation, Altisource Asset Management Corporation, and Home Loan Servicing Solutions, will always be complicated, Altisource Residential and Altisource Asset Management announced Friday that Michael Lubin is joining both companies. Lubin joins from Home Loan Servicing Solutions.
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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 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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  • Altisource Residential announces new management agreement with AAMC

    Will result in “substantial management fee savings”
    Altisource Residential and Altisource Asset Management Corporation have a complicated relationship and that complicated relationship isn't going anywhere, anytime soon, thanks to a modified asset management agreement, which the companies say will result in "substantial management fee savings."
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  • Why did Altisource Residential delay its earnings call?

    Working with Altisource Asset Management to “modify” agreement
    In recent weeks, the relationship between Altisource Residential Corporation and Altisource Asset Management Corporation has come under scrutiny from investors. Despite those calls, or perhaps because of them, the two companies’ made a joint announcement Monday to delay the companies’ earnings conference calls.
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