SOURCE: Altisource Portfolio Solutions, S.A.

Altisource Portfolio Solutions, S.A.

April 25, 2016 09:54 ET

Jon W. Gerretsen Hired as President of Altisource Origination Services

Mortgage and Consumer Banking Veteran to Join Altisource's Mortgage Fulfillment Business

ST. LOUIS, MO--(Marketwired - April 25, 2016) - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider of real estate, mortgage and technology services announces Jon W. Gerretsen has joined the company as President of Altisource Origination Services ("AOS").

Mr. Gerretsen joins Altisource with over 25 years of mortgage and consumer banking experience, specializing in providing strategic execution of services, processes and products. Mr. Gerretsen was most recently the First Senior Vice President for the Mortgage Banking Division of New York Community Bank ("NYCB") responsible for residential mortgage operations for NYCB's retail, wholesale and correspondent production. Prior to NYCB, Mr. Gerretsen held senior leadership roles in mortgage banking and services for various organizations, including AmTrust Bank, CitiMortgage, Inc. and KPMG.

Increasing regulation and changes in service level expectations are forcing mortgage market participants to proactively implement new technology and adopt best practices to stay competitive, manage risk and improve operational efficiency. AOS provides a broad range of mortgage origination solutions that help to lower costs, gain efficiency and manage risk for lenders. Since 2014, Altisource has reviewed loans totaling more than $17 billion.

"We are committed to providing industry-leading capabilities, cutting-edge technology and exceptional client service to our mortgage industry customers," said Jason Garmise, a co-leader of the AOS business unit. "Jon joins an already strong management team at AOS and comes to us with deep expertise in nearly all parts of the mortgage origination process. AOS has seen strong revenue growth over the past 12 months and Jon will help lead our business as we continue that strong growth and expand our reach into the broader mortgage industry." 

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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