Standard&Poor's Ratings Services' ratings on Altisource Portfolio Solutions S.A. reflect the firm's strong, high-quality earnings, strategy of operating with minimal balance sheet risk, and solid funding base. Offsetting factors include concentration in serving the cyclical mortgage industry and customer concentration with respect to the firm's former parent, Ocwen Financial Corp. Inc. Altisource Portfolio Solutions became a publicly traded company on Aug. 10, 2009, following a spin-out from former parent Ocwen Financial (NYSE: OCN). Altisource is based in Grand Duchy of Luxembourg but operates in the U.S. through three segments: mortgage services, financial services, and technology services. All segments are focused on providing services to the real estate market. The services each segment provides are typically outsourced by mortgage
