ALTISOURCE ANNOUNCES WIND DOWN AND CLOSURE OF OWNERS.COM TO INCREASE FOCUS ON CORE BUSINESSES

Luxembourg, October 8, 2019 - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that it decided to wind down and close Owners.com’s operations. The Company believes that closing Owners.com supports its simplification strategy, eliminates the cash burn associated with this earlier stage business, and increases focus on the core real estate and mortgage businesses.

"Owners.com has been making encouraging progress in demonstrating that a better consumer real estate model based on technology and service may be viable," said William B. Shepro, Altisource’s Chairman and Chief Executive Officer. Shepro further commented, "However, as we continue to work to simplify Altisource and focus on our larger opportunities, we concluded that closing Owners.com is in Altisource’s best interests given the time horizon and level of additional investments needed in order for Owners.com to operate independently. I am proud of the very talented and dedicated Owners.com team and want to thank them for their contributions."

10 real estate terms you should know

1

Fees paid at the closing of a real estate transaction when a property is transferred from a seller to a buyer.

2

Typically expressed as a percentage and refers to the money a borrower puts down toward the cost of a home to secure a mortgage.

3

A special account set up by lenders to pay your property taxes and/or insurance in some states.

4

Expenses for services provided by a bank or third party during the application or closing process.

5

The rate used to determine the cost of borrowing money, usually stated as a percentage and as an annual rate.

6

An insurance policy that covers the bank in case you can't afford to pay the mortgage. Borrowers who put down less than the traditional 20% are often required to purchase PMI.

7

A portion of interest that you pay to a lender up front in exchange for a lower interest rate.

8

A levy by the government that is typically based on your home's improvement or building value and the land or site value.

9

A document that stipulates the terms of sale by the seller to the buyer.

10

An attorney who can review the PSA and other documents related to the home purchase.

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