SOURCE: Altisource Portfolio Solutions, S.A.

Altisource Portfolio Solutions, S.A.

April 11, 2016 09:00 ET

Altisource Announces New Senior Executives in Origination Solutions

Mr. Michael Kuentz Joins as Vice President, National Sales at Lenders One

Mr. Justin Vedder as Vice President, National Sales for Altisource Origination Solutions

ST. LOUIS, MO--(Marketwired - April 11, 2016) - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider of real estate, mortgage and technology services, announces two executive appointments in the Origination Solutions business unit. Mr. Michael Kuentz joins as Vice President, National Sales for the Lenders One® Mortgage Cooperative, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. In this role, Mr. Kuentz will be responsible for managing the Lenders One sales effort and implementing new initiatives for the benefit of members. Additionally, Mr. Justin Vedder was promoted to Vice President, National Sales for Origination Solutions. In this role, Mr. Vedder will oversee all sales and client service functions across the business unit.

Mr. Kuentz has 18 years of sales and management experience in the mortgage industry. Mr. Kuentz was most recently at Equifax, Inc. (NYSE: EFX) where he served as the Senior Vice President of Verification Services and prior to that held the role of Senior Vice President of Mortgage Services. Mr. Kuentz joined Equifax in 2001 as part of Equifax's acquisition of Rapid Reporting where he was a Partner.

Mr. Vedder joined Altisource in July 2015, through the acquisition of CastleLine where he served as the Executive Vice President of CastleLine Risk and Insurance Services. Mr. Vedder has more than 15 years of sales and management experience in the mortgage and insurance industries. Prior to joining CastleLine, Mr. Vedder was an Area Senior Vice President at Arthur J. Gallagher (NYSE: AJG) and held various positions throughout the mortgage industry.

Mr. Kuentz and Mr. Vedder will report to Bryan Binder and Jason Garmise, who lead Altisource's Origination Solutions business unit, which includes Lenders One. 

"Michael brings a deep expertise in sales, marketing and strategy and is extremely well regarded throughout the mortgage industry. In addition, Michael has strong relationships with many of the Lenders One members, preferred vendors and investors," said Bryan Binder. "In addition, this is a well-earned promotion for Justin. Jason and I have worked closely with Justin for more than three years and have the utmost confidence in his sales, management and strategic capabilities. These management additions demonstrate our continued investment in the origination solutions leadership team, and we believe that both will have an immediate impact on our clients."

About Lenders One® Mortgage Cooperative

Lenders One (www.LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Members of the platform originated $247 billion in mortgages in 2015; collectively ranking as one of the largest retail mortgage origination entities in the U.S., Lenders One is managed by a subsidiary of Altisource Portfolio Solutions, S.A.

About Altisource ®

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries. Altisource's proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at altisource.com.

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