Altisource Portfolio Stock Price, News & Analysis

SFRhub.com, a pioneering platform for single-family rental investments, has partnered with Altisource to create a comprehensive online marketplace catering to SFR and Build-for-Rent properties. This collaboration aims to streamline the investment process, offering integrated services including data analytics, property management, and financial solutions. With an estimated $1 billion in rental portfolio listings and nearly 200,000 homes reviewed since 2018, SFRhub.com is positioned as a leader in the sector. This 'one-stop' solution aims to enhance efficiency for investors.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) reported its Q3 2021 financial results, showing significant challenges. Service revenue declined by 51% year-over-year to $41.6 million, with a net loss of $18.3 million, or $1.15 per diluted share. Despite this, the company anticipates stronger performance in 2022, fueled by its Default business and strategic initiatives in Origination. The anticipated sale of its equity interest in Pointillist is expected to enhance its balance sheet by adding approximately $100 million in cash. Cash operating costs were reduced by 26% year-over-year.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) will report its third quarter 2021 earnings on November 4, 2021. A press release and presentation will be accessible on the company's Investor Relations website. Following the earnings release, a conference call will take place at 11:00 a.m. EDT to discuss the results. Interested listeners should visit the website 15 minutes in advance. A replay will be available approximately two hours post-call and remain accessible for 30 days.

Lenders One has appointed Tricia Migliazzo as Senior Vice President of Origination Sales, effective October 15, 2021. With over 20 years in the mortgage industry, including previous roles at Lenders One and Altisource, she will manage sales teams and oversee various services like CastleLine and Premium Title. Lenders One is a leading cooperative in the mortgage sector, originating approximately $780 billion in mortgages in 2020. Migliazzo aims to enhance member competitiveness and growth.

Altisource Portfolio Solutions (NASDAQ: ASPS) announced a definitive agreement for its subsidiary Pointillist to be acquired by Genesys for $150 million. Altisource expects to receive about $100 million in cash at closing, with an estimated $107 million post-tax gain from the transaction. Pointillist, founded in 2019, is a SaaS platform focused on customer journey management. The deal is subjected to customary closing conditions and anticipated to close by the end of 2021.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) has partnered with ForumPay to facilitate real estate purchases using cryptocurrency, allowing buyers to convert digital assets into dollars seamlessly. This innovative option is available for properties listed on Equator.com and Hubzu.com, enabling a direct transfer of converted funds to Premium Title, Altisource's affiliate. The move is positioned as enhancing access for investors seeking to diversify their assets amid rising cryptocurrency values, marking a significant advancement in real estate transactions.

Lenders One Cooperative hosted its first in-person event in over a year, the annual Summit in Orlando, FL, starting August 5, 2021. The event features a keynote by Frank Abagnale and aims to help members discover new strategies in the mortgage market. Since March 2020, Lenders One has welcomed 40 new members and launched initiatives to enhance performance. Key offerings include L1 Credit and the beta launch of LOLA, a loan automation technology. The cooperative also welcomed new capital markets providers and preferred partners to expand its services.

Altisource Portfolio Solutions S.A. (ASPS) announced its Q2 2021 financial results, reporting service revenue of $44.0 million, a 52% decline year-over-year. However, the Origination business achieved a 16% revenue growth to $14.5 million, surpassing market expectations. The company's Default business is expected to recover in 2022, with projected revenue of $230 to $352 million. Altisource ended the quarter with $35.3 million in cash but reported a net loss of $18.5 million, or $(1.17) per share. The management is exploring strategic options to enhance shareholder value.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) will announce its second quarter 2021 earnings on July 29, 2021. A press release and presentation will be accessible in the Investor Relations section of their website. Additionally, Altisource will hold a conference call at 8:30 a.m. EST on the same day to discuss the earnings results. Interested participants can register and access the live audio webcast on the company’s website. The call will also be available for replay approximately two hours post-event for 30 days.