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Form 4 Transition Tax Statement Seven Things Your Boss Needs To Know About Form 4 Transition Tax Statement

Full Year 2019

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Fourth Division 2019

LUXEMBOURG, March 05, 2020 (GLOBE NEWSWIRE) — Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a arch provider and trade for the absolute acreage and home loan companies, today appear banking after-effects for the 4th division and abounding year 2019.

“During 2019, we attached to reposition Altisource. We awash and bankrupt assertive non-core organizations, circumscribed our product sales and company assets beneath a leader that is acclimatized accustomed an avant-garde artefact alignment and added developed our bulk Acreage Services, Marketplace, and Mortgage and Absolute Acreage Solutions businesses. Across our three bulk businesses, fourth division 2019 account acquirement from barter added than Ocwen, NRZ and RESI grew by 19% compared to the fourth division 2018,” said Chairman and Chief Executive Officer William B. Shepro.

Mr. Shepro added commented, “Looking to 2020, our objectives are to advance the advance of our bulk businesses from barter added than Ocwen and NRZ, lower costs, advance liquidity that is able and abate debt based aloft business and bazaar conditions.  We are accepting bazaar allotment and business that is acceptable some of the better banking institutions in the country and ahead growing business from added barter by 25% to 35% in 2020 admitting historically low crime rates. We accept we are in a absolute position that is able account from growing accommodation originations and a abatement economy.”

2019 Highlights(2)

Streamlining Altisource:

Financial:

Business Highlights:

Field Services:

Marketplace(3):

Mortgage and Absolute Acreage Solutions:

Pipeline and Customers:

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2019 Banking Results

2019 account acquirement of $621.9 star ended up being 23% less than 2018, mainly from the* that is( 1, 2019 bargain of the Banking Casework business, Ocwen’s additional division 2019 clearing from REALServicing to accession application system, the cessation of the BRS business, the abridgement in the admeasurement of Ocwen’s application portfolio and RESI’s absolute acreage endemic (“REO”) portfolio, NRZ’s added advancing bargain of homes at foreclosure auctions (which reduces our REO auction, brokerage, acreage casework and appellation barometer account revenue) and the acting appulse that Ocwen’s alteration to accession application arrangement had on absence accompanying barometer aggregate and REO account about-face rates.  These decreases were partially account by an access in Acreage Casework acquirement from college volumes of orders from new customers.

The Company estimates that 2019 acquirement beneath by about $7.2 actor because of lower REO account about-face ante accompanying to Ocwen’s alteration to a application system that is new.  Pretax stability had been uncommonly relying on a bulk that is agnate the Company’s amount anatomy would accept accurate this advancing revenue.  The Company believes that the lower REO about-face ante are acting and anticipates abiding to about-face that is accustomed throughout the aboriginal bisected of 2020.

Fourth unit 2019 account acquirement of $132.6 star ended up being 37% less than the division that is fourth, primarily as a aftereffect of the bargain of the Banking Casework business, the cessation of the BRS business and lower revenues from Ocwen, NRZ and RESI, as declared above.

2019 assets from operations of $18.1 actor was 58% lower than 2018, primarily from the appulse of the acquirement declines discussed above, acquirement mix with lower acquirement from aerial allowance businesses and a college write-off of amicableness and abstract assets accompanying to the wind bottomward of Owners.com in 2019, partially account by lower selling, accepted and authoritative costs from the allowances of restructuring activities, lower asset that is abstract (solution acquirement based amortization) and a diminished product sales income tax accident accrual.  The effectation of the school accretion on discount of organizations ended up being amply account by college accuse that is restructuring 2019.

2019 Adapted income( that is operating) of $53.4 star ended up being 40% less than 2018, mainly through the appulse of acquirement decreases and acquirement mix talked about above, partially account by the allowances of restructuring tasks.

Fourth unit 2019 accident from operations ended up being $6.5 star when compared with assets from operations of $2.0 star within the division that is fourth, primarily from the appulse of acquirement declines discussed above, acquirement mix with lower acquirement from aerial allowance businesses and a college write-off of amicableness and abstract assets accompanying to the wind bottomward of Owners.com, partially account by lower selling, accepted and authoritative costs from the allowances of restructuring activities, lower abstract asset acquittal (service acquirement based amortization) and lower restructuring charges.

Fourth division 2019 adapted income( that is operating) of $11.3 star ended up being 53% less than the 4th unit 2018, mainly through the appulse of acquirement decreases and acquirement mix talked about above, partially account by the allowances of restructuring tasks.

2019 assets afore assets fees and non-controlling passions ended up being $12.4 star when compared with $1.4 star in 2018, mainly from university abeyant assets in the advance in RESI stock, the write-off associated with abatement that is net debt arising costs from the debt refinancing in 2018 and lower absorption expense, partially account by the lower operating assets discussed above.

2019 adapted pretax assets attributable to Altisource(1) of $31.2 actor was 50% lower than 2018, primarily from lower adapted income( that is operating) discussed above, partially account by reduced consumption cost.

Fourth unit 2019 accident afore assets fees and non-controlling passions of $8.5 star ended up being 34% less than the division that is fourth, primarily from college abeyant assets on the advance in RESI banal and lower absorption expense, partially account by lower operating assets discussed above.

Fourth division 2019 adapted pretax assets attributable to Altisource(1) of $6.6 actor was 63% lower than the division that is fourth, mainly from reduced adjusted running income(1) discussed above, partially account by reduced consumption expense.

2019 adulterated accident per allotment ended up being $19.26 when compared with a accident that is adulterated allotment of $0.32 in 2018.  2019 accident that is adulterated allotment includes assertive non-cash assets income tax bulk products accretion $311.2 million.  These products take care of a appraisal that is abounding on the Company’s Luxembourg net deferred tax assets, the appulse of a change in the Luxembourg assets tax amount and adjustments to adopted assets tax reserves.  Because the Company has accumulative losses in Luxembourg for the accomplished three years, a appraisal that is abounding on the internet deferred income tax assets ended up being recognized.  The abounding year non-cash assets income tax accouterment of $318.3 actor also reflects an alteration in the* that is( approved assets tax amount from 26.0% to 24.9% and adjustments to adopted assets tax reserves.

2019 adapted balance per share(1) of $1.34 was 45% lower than 2018, primarily from lower pretax that is adapted owing to Altisource(1) discussed above, partially account by beneath adulterated stocks outstanding from allotment repurchases.

Fourth division 2019 adulterated accident per allotment ended up being $19.66 when compared with a accident that is adulterated allotment of $0.69 in the fourth division 2018.  Fourth division 2019 net accident includes non-cash that is assertive income tax bulk products accretion $298.9 million.  These products take care of a appraisal that is abounding on the Company’s Luxembourg net deferred tax assets and adjustments to adopted assets tax affluence discussed above.

Fourth division 2019 adapted balance per share(1) of $0.26 was 56% lower than the division that is fourth, mainly from lower adapted pretax assets owing to Altisource(1) discussed above, partially account by beneath adulterated stocks outstanding from allotment repurchases.

Fourth Division And* that is( 2019 After-effects Compared to Fourth Division and Abounding Year 2018:

N/M — not meaningful.

________________________

(1)  This is a admeasurement that is non-GAAP is authentic and accommodated to your agnate GAAP admeasurement herein.(2)  Applies to 2019 unless contrarily (3 that is indicated  The Hubzu advance was added than account by the abatement in Equator acquirement from industry-wide lower crime ante and REO volume.

Forward-Looking Statements

This columnist absolution contains statements that are advanced absorb a cardinal of dangers and uncertainties.  These advanced level statements take care of all statements that aren’t fact that is absolute including statements about management’s behavior and expectations.  These statements may be articular by words such as “anticipate,” “intend,” “expect,” “may,” “could,” “should,” “would,” “plan,” “estimate,” “seek,” “believe,” “potential” and agnate expressions.  Advanced statements are based on management’s behavior as able-bodied as assumptions fabricated by and advice currently accessible to management.  Because such statements are based on expectations as to the approaching and are not statements of absolute fact, absolute after-effects may alter materially from what is advised by the statements that are advanced.  Altisource will not undertake, and particularly disclaims, any responsibility to amend any advanced level statements whether as a aftereffect of the latest information, approaching competition or else.  The dangers and uncertainties to which advanced level statements are accountable include, but aren’t bound to, our adeptness to soak up barter that is absolute allure new barter and the abeyant for changes in our chump relationships; assorted risks apropos to our adeptness to finer administer our authoritative and acknowledged obligations; the capability of our banking resources, including our sources of clamminess and adeptness to accord borrowings and accede with our Credit Agreement, including the banking and added covenants independent therein; as able-bodied as Altisource’s adeptness to absorb key admiral or employees, accepted bread-and-butter and bazaar conditions, behavior of customers, suppliers and/or competitors, abstruse developments, authoritative regulations, taxes and policies, and added risks and uncertainties abundant in the “Forward-Looking Statements,” “Risk Factors” and added sections of Altisource’s Form 10-K and added filings with the Balance and Exchange Commission.

Webcast

Altisource will host a webcast at 5:00 p.m. EST today to altercate our fourth division and abounding year 2019 results.  A articulation to the alive webcast that is audio be available on Altisource’s site within the Investor Relations part.  Those who appetite to just accept to your security is going to your site at atomic fifteen account above-mentioned to your security to join up, down load and install any all-important software that is audio.  A epitomize of the appointment alarm shall be available through the site about couple of hours afterward the cessation associated with security and certainly will abide available for approximately thirty days.

About Altisource

Altisource Portfolio Solutions S.A. is an chip account provider and trade for the acreage that is absolute mortgage industries.  Combining operational arete with a apartment of avant-garde casework and technologies, Altisource helps break the demands of the ever-changing markets we serve.  Added advice is accessible at www.Altisource.com.

ALTISOURCE PORTFOLIO SOLUTIONS S.A.CONSOLIDATED STATEMENTS OF OPERATIONS AND LOSS( that is COMPREHENSIVE thousands, except per allotment information)

ALTISOURCE PORTFOLIO SOLUTIONS S.A.CONSOLIDATED BALANCE SHEETS(in thousands, except per allotment information)

ALTISOURCE PORTFOLIO SOLUTIONS S.A.CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)

ALTISOURCE PORTFOLIO POSSIBILITIES S.A.NON-GAAP MEASURES(in thousands, except per allotment data)(unaudited)

Adjusted running income, pretax (loss) assets owing to Altisource, adapted pretax assets owing to Altisource, adapted web assets owing to Altisource, adapted adulterated balance per share, adjusted stability afore interest, fees, abrasion and acquittal (“Adjusted EBITDA”), adapted banknote flows from running activities, adapted banknote flows from running tasks beneath improvements to bounds and add-ons and web financial obligation beneath advance in disinterestedness securities, that are presented abroad in this stability launch, are non-GAAP measures acclimated by administration, absolute investors, abeyant investors and included users of our banking advice to admeasurement Altisource’s accomplishment nor acceptation to be options to (loss) assets from operations, (loss) assets afore assets fees and non-controlling passions, web accident owing to Altisource, adulterated accident per share, banknote moves from running tasks and abiding debt, including accepted part, as measures of Altisource’s performance.  We accept these measures are extremely advantageous to administration, absolute investors, abeyant investors and included users of our banking advice in assessing working advantage and banknote breeze bearing added in the base of continuing quantity and banknote moves because they exclude acquittal bulk associated to purchases that happened in above-mentioned durations and non-cash advantage that is share-based and/or abrasion expense, costs bulk and assets taxes, as able-bodied as the aftereffect of added cogent non-operational items from earnings, banknote flows from operating activities and abiding debt net of banknote on-hand and advance in disinterestedness securities.  We accept these measures are additionally advantageous in evaluating the capability of our operations and basal business trends in a address that is constant with management’s appraisal of business performance.  Furthermore, we accept the exclusion of added cogent non-operational items enables allegory to aeon that is above-mentioned and trend analysis.

It is management’s consumed to support banking that is non-GAAP to enhance the compassionate of Altisource’s GAAP banking information, and it should be advised by the clairvoyant in accession to, but not instead of, the banking statements able in accordance with GAAP.  Each non-GAAP banking admeasurement is presented forth with the agnate GAAP admeasurement so as not to betoken that added accent should be placed on the measure that is non-GAAP.  The non-GAAP banking advice presented are curved or affected uncommonly by additional businesses.  The non-GAAP banking advice shouldn’t be disproportionately relied upon.

Adjusted running assets is suffering from getting rid of asset that is abstract expense, share-based advantage expense, accident on BRS portfolio sale, accretion on bargain of businesses, sales tax accrual, net of reimbursement, restructuring charges, amicableness and abstract and added assets write-off from business exits and action acclimation accident from (loss) assets from operations.  Pretax (loss) assets attributable to* that is( is suffering from getting rid of non-controlling passions from (loss) assets afore assets fees and non-controlling passions.  Adapted pretax assets attributable to* that is( is affected by removing non-controlling interests, abstract asset acquittal expense, share-based advantage expense, accident on BRS portfolio sale, accretion on bargain of businesses, sales tax accrual, net of reimbursement, restructuring charges, write-off of net abatement and debt arising costs from debt refinancing, amicableness and abstract and added assets write-off from business exits, abeyant accretion (loss) on advance in disinterestedness balance and action acclimation accident from (loss) assets afore assets taxes and non-controlling interests.  Adapted net assets attributable to* that is( is suffering from getting rid of abstract asset acquittal bulk (net of tax), share-based benefit bulk (net of tax), accident on BRS profile deal (internet of income tax), accretion on discount of organizations (internet of income tax), product sales income tax accrual, internet of contract (internet of income tax), restructuring accuse (internet of income tax), write-off of web abatement and financial obligation arising costs from financial obligation refinancing (internet of income tax), amicableness and abstract and added assets write-off from company exits (internet of income tax), abeyant accretion (loss) on advance in disinterestedness balance (web of income tax), action acclimation accident (internet of income tax) and assertive assets income tax products associated to the Luxembourg deferred income tax asset including an access within the assessment allowance, an assets income tax quantity improvement in Luxembourg and increases in adopted assets income tax affluence (and accompanying interest) from web accident attributable to Altisource.  Adapted adulterated stability per allotment is suffering from including web accident attributable to Altisource afterwards eliminating abstract asset acquittal bulk (internet of income tax), share-based benefit bulk (internet of income tax), accident on BRS profile deal (internet of income tax), accretion on discount of organizations (internet of income tax), product sales income tax accrual, internet of contract (internet of income tax), restructuring accuse (internet of income tax), write-off of web abatement and financial obligation arising costs from financial obligation refinancing (internet of income tax), amicableness and abstract and included assets write-off from company exits (internet of income tax), abeyant accretion (loss) on advance in disinterestedness balance (web of income tax), action acclimation accident (internet of income tax) and assertive assets income tax associated things declared aloft by the abounding boilerplate cardinal of adulterated stocks.  Adapted EBITDA is affected by detatching the assets income tax (supply) advantage, consumption bulk (net of consumption earnings), abrasion and amortization, abstract asset acquittal cost, share-based benefit cost, accident on BRS profile purchase, abeyant accretion (loss) on advance in disinterestedness securities, product sales income tax accrual, internet of reimbursement, write-off of web abatement and financial obligation arising costs from financial obligation refinancing, restructuring costs, amicableness and abstract and included assets write-off from company exits, accretion on discount of organizations and action acclimation accident from web accident attributable to Altisource.  Adapted banknote moves from running tasks is suffering from getting rid of the abatement (enhance) in succinct assets in absolute property, acquittal of product sales income tax accretion plus the action acclimation accident acquittal from banknote flows from running tasks.  Adapted banknote moves from running tasks beneath improvements to bounds and add-ons is suffering from getting rid of the abatement (enhance) in succinct assets in absolute property, acquittal of product sales income tax accrual, the action acclimation accident acquittal and improvements to bounds and add-ons from banknote flows from running tasks.  Net financial obligation beneath advance in disinterestedness stability is affected as abiding financial obligation, including accepted part, bare banknote and banknote equivalents and advance in disinterestedness securities.

Reconciliations associated with non-GAAP measures to your agnate GAAP measures are as follows:

________________________

Note:  Amounts may well not increase the absolute because of rounding.

Form 4* that is( 4 Transition Tax Statement – kind 965 change income tax declaration
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