The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Raj Sharma - B. Riley Securities - Analyst
: Hi, good morning. Thank you for taking my questions. Good continued progress on the numbers. I wanted to understand you had talked a lot
about the pre-foreclosure work and the loss mitigation work. The earlier part of the foreclosure process that you guys would do more of that work.
Is that -- when you say that the renovations business is included in that pre foreclosure work. And what percentage of total revenues is that now
as opposed to last year? And then I have a follow on question.
Question: Raj Sharma - B. Riley Securities - Analyst
: Great. Could you talk a little bit about this in Renovations business? Again, just to remind us what it entails and is becoming the largest part of your
business.
Question: Raj Sharma - B. Riley Securities - Analyst
: Got it. And then just you mentioned the $1.8 million higher SG&A. Can you talk about that again? And also the legacy indemnity claim and the bad
debt expense fleet?
Question: Raj Sharma - B. Riley Securities - Analyst
: Got it. Thank you. And then just lastly on the Originations business, do you see a continued pick up here? Can you provide some color on how you
see that business with the lowering the rates and perhaps higher refis or?
Question: Mike Grondahl - Northland Securities, Inc - Analyst
: Hey guys. Thanks. Hey, Will in thinking about the Renovation business, any rough base case, what revenues could look like in '25 and then any
insight on, I don't know, adjusted EBITDA margin in the business or is this kind of a cost plus business? And then a follow up, but go ahead.
Question: Mike Grondahl - Northland Securities, Inc - Analyst
: Got it. And then just two follow ups. Do you have the capacity for, I mean, 15 a month, seems like you do, if you already got 75, 80 referrals, but 15
to 30, you have the capacity to handle that? And then maybe what's your risk, if you take a referral build out, what if it costs more? What if there's
overage? Could you kind of address what ASP risks are in this business?
Question: Mike Grondahl - Northland Securities, Inc - Analyst
: Got it and the capacity?
Question: Raj Sharma - B. Riley Securities - Analyst
: Hi, I just wanted to hop on again and ask your views on the foreclosure market and the delinquencies. I mean, are you seeing any change in the
fundamental upside potential of this business or how it's progressing or do you think it has impacted the run rate? If we ever got back to the
pre-COVID level of foreclosures? Has anything changed in your outlook?
Question: Raj Sharma - B. Riley Securities - Analyst
: And in terms of the pre-foreclosure work and the loss mitigation work. Are you doing more of it, now? And has your share gone up?
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OCTOBER 24, 2024 / 12:30PM, ASPS.OQ - Q3 2024 Altisource Portfolio Solutions SA Earnings Call
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