Altisource

Altisource is a company providing services and technology for the mortgage and real
estate industries. The company is headquartered in Luxembourg and has offices in
India, United States, Philippines and Uruguay. Altisource won the 2017 HousingWire
Tech award and the 2017 Stevie Awards Company of the Year in real estate.

Services
• Mortgage services: provide clients with products, services and technologies that
span the mortgage and real estate lifecycle.
• Financial services: provide collection services (e.g. credit card, auto lending, retail
credit and mortgage) and customer management relationship.
• Technology services: provide software and data analytics solutions that support
the management of mortgage and real estate activities.

Indian offices
è Altisource is based in Bangalore and Mumbai.

Key facts and figures
• Founded in 1999
• 8,350 employees (5,750 in Indian offices) in 2016
• 470,76 M USD market cap (31/07/2017, Bloomberg)
• Share price at 25,54 USD, 9,80% 1-year return (31/07/2017, Bloomberg)

Leadership
• William B. Shepro: CEO of Altisource
• Michelle Esterman: CFO of Altisource
• Pramod Bisht: COO of Altisource India

The special relationship with Ocwen Financial
è Ocwen Financial Corporation is an American provider of mortgage loan servicing
and asset management servicing. Altisource was formerly known as Ocwen Solutions,
which Ocwen Financial spun off in 2009. Today, Ocwen remains Altisource’s biggest
client.

è In April 2017, the Consumer Financial Protection Bureau (CFPB) announced it
would sue Ocwen Financial on charges of making widespread errors and illegally
foreclosing on homeowners. The CFPB has also been considering an action against
Altisource relating to alleged violation of federal law concerning some technology
services. As a consequence, Altisource stock was down 36,8% on the day of the
announcement. Ocwen and Altisource remain as of today under inspection.