Revenue streams that are highly dependent on products and services contractually sourced to Altisource from mortgage servicer Ocwen Financial Corp. Long-term agreement between Altisource and Ocwen that results in relatively stable revenues, although Ocwen related revenues will decrease as Ocwen's servicing assets decrease Asset-light strategy that results in minimal balance-sheet risk Exposure to the cyclical and seasonal nature of residential mortgage activities Our expectation that Altisource will operate at 2.0x-3.0x debt to EBITDA for the next 12 months Sufficient liquidity to support operations S&P Global Ratings' stable outlook on Altisource Portfolio Solutions S.A. reflects our view that much of the regulatory risk that threatened the viability of Ocwen Financial Corp., the firm's largest client, has abated. We expect that Altisource
