Revenue streams that are highly dependent on products and services contractually sourced to Altisource from mortgage servicer Ocwen Financial Corp. and New Residential Investment Corp. Long-term agreement between Altisource and its key counterparties that results in relatively stable revenues, although Ocwen/NRZ-related revenues will decrease as related 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 2.5x-3.0x debt to EBITDA for the next 12 months Sufficient liquidity to support operations The stable outlook on Altisource Portfolio Solutions S.A. reflects S&P Global Ratings' view that it will eventually reach a services agreement with New Residential Investment Corp. (NRZ). We expect that Altisource
