LUXEMBOURG, Sept. 16, 2014 /PRNewswire/ -- Altisource
Portfolio Solutions S.A. ("Altisource" and NASDAQ: ASPS), a premier
marketplace and transaction solutions provider for the real estate,
mortgage and consumer debt industries, today announced the
completion of its acquisition of Mortgage Builder®
Software, Inc. ("Mortgage Builder"), a provider of award-winning
mortgage loan origination and servicing software systems. The
acquisition follows Altisource's recent acquisition of Equator, a
national leader in mortgage and real estate-related SaaS solutions,
and strengthens Altisource's end-to-end suite of real estate and
mortgage lifecycle management technologies.
"With Lenders One, Equator and now Mortgage Builder, Altisource
offers customers a complete, all-in-one real estate and mortgage
lifecycle management platform," said John
Vella, Chief Operating Officer of Equator. "Mortgage Builder
and Equator customers will benefit from the deep capital,
world-class talent and other resources that Altisource
provides."
"Joining Altisource will give Mortgage Builder customers
access to more complete and cost-efficient real estate and mortgage
lifecycle management solutions," said Keven
M. Smith, Chief Executive Officer of Mortgage Builder.
"Altisource's financial strength and global resources further the
Mortgage Builder vision of providing a comprehensive solution for
mortgage bankers, banking institutions and credit unions."
Altisource had announced its intention to acquire the
Detroit-based Mortgage Builder on
July 21, 2014.
For more information, please visit www.altisource.com.
Forward-Looking Statements
This press release contains forward-looking statements that
involve a number of risks and uncertainties. These forward-looking
statements include all statements that are not historical fact,
including statements about management's beliefs and expectations.
Forward-looking statements are based on management's beliefs as
well as assumptions made by and information currently available to
management. Because such statements are based on expectations as to
future economic performance and are not statements of historical
fact, actual results may differ materially from those
projected. Altisource undertakes no obligation to update any
forward-looking statements whether as a result of new information,
future events or otherwise. The risks and uncertainties to which
forward-looking statements are subject include, but are not limited
to: Altisource's ability to integrate the acquired business, retain
existing customers and attract new customers; general economic and
market conditions; governmental regulations, taxes and policies;
availability of adequate and timely sources of liquidity; and other
risks and uncertainties detailed in the "Forward-Looking
Statements," "Risk Factors" and other sections of Altisource's Form
10-K and other filings with the Securities and Exchange
Commission.
About Altisource
Altisource is a premier marketplace and transaction solutions
provider for the real estate, mortgage and consumer debt industries
offering both distribution and content. We leverage proprietary
business process, vendor and electronic payment management software
and behavioral science based analytics to improve outcomes for
marketplace participants. Altisource has been named to
Fortune's fastest growing global companies two years in a
row. Additional information is available at www.Altisource.com.
About Mortgage Builder
Mortgage Builder provides industry-leading loan origination
software to mortgage banks, community banks, credit unions and
other financial institutions. Founded in 1999, Mortgage Builder's
mortgage software solutions include origination, servicing,
lead/customer management, production portal and electronic document
management. Mortgage Builder has been named by Mortgage
Technology Magazine as one of the industry's Top 50 Service
Providers for the eighth consecutive year. Visit
www.MortgageBuilder.com.
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SOURCE Altisource Portfolio Solutions S.A.