SOURCE: Altisource Portfolio Solutions, S.A.

Altisource Portfolio Solutions, S.A.

February 16, 2017 07:00 ET

REALHome Services and Solutions, Inc. Receives MOR RV2 Residential-Vendor Ranking from Morningstar Credit Ratings as a Property Manager

LUXEMBOURG--(Marketwired - February 16, 2017) - Altisource Portfolio Solutions S.A. ("Altisource") (NASDAQ: ASPS), a leading provider of real estate, mortgage and technology services, today announced that REALHome Services and Solutions, Inc. ("RHSS"), a subsidiary of Altisource, received Morningstar Credit Ratings MOR RV2 residential-vendor ranking for property management. Morningstar's forecast for the ranking is Stable.

RHSS, headquartered in Atlanta, Georgia, is a licensed real estate brokerage and provides end-to-end property management services encompassing tenant application, screening, income and employment verification, tenant move-in and move-out facilitation, maintenance, customer service, rent collection, delinquency management and security deposit reconciliations. RHSS is licensed in 49 states and the District of Columbia.

RHSS leverages corporate shared services such as internal audit, compliance, human resources, vendor management, disaster recovery and business continuity as a subsidiary of Altisource. Altisource, through its subsidiaries, has approximately 8,600 employees located in the United States, India, Uruguay, Philippines and Luxembourg. With Altisource's extensive and diversified product solutions for the real estate industry, the company provides clients the opportunity to consolidate services with a single full-service vendor.

The Morningstar ranking is based on a variety of factors, including:

  • The company has a pervasive enterprise risk management culture that consists of compliance, internal audit, self-risk assessment protocols, quality assurance and a robust vendor management oversight group. An extensive training curriculum consisting of required courses and advanced training promote a continuous learning environment. Comprehensive policies and procedures serve to ensure that employees are performing their responsibilities in accordance with industry best practices.
  • The effectiveness of RHSS's tenant relationship management is evidenced by above-average call center metrics and handling of property maintenance duties.
  • RHSS benefits from a solid technology environment that includes a third-party provided property management system, a well-defined project management process, effective network security protocols and a disaster recovery and business continuity plan that leverages the company's numerous office locations for built-in redundancy.
  • As a vendor, the company engages a third-party auditing firm to produce a SOC 1 audit report on an annual basis.

RHSS's strategic growth plan is to provide property management services to large institutional investors and mid-size individual investors and to offer standby property management services for single-family rental securitized transactions.

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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