Altisource Announces Wind Down and Closure of Owners.com to Increase Focus on Core Businesses
“Owners.com has been making encouraging progress in demonstrating that a better consumer real estate model based on technology and service may be viable,” said
During the six months ended
This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements include all statements that are not historical fact, including statements about management’s beliefs and expectations. These statements may be identified by words such as “anticipate,” “intend,” “expect,” “may,” “could,” “should,” “would,” “plan,” “estimate,” “seek,” “believe,” “potential” and similar expressions. Forward-looking statements are based on management’s beliefs as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to the future and are not statements of historical fact, actual results may differ materially from what is contemplated by the forward-looking statements. Altisource undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. The risks and uncertainties to which forward- looking statements are subject include, but are not limited to, risks relating to: Altisource’s ability and cost to wind down and close the Owners.com operations; Altisource’s ability to effectively manage its regulatory and contractual obligations; the adequacy of Altisource’s financial resources, including sources of liquidity and ability to repay borrowings; Altisource’s ability to comply with its Credit Agreement, including the financial and other covenants contained therein; and other risks and uncertainties detailed in the “Forward-Looking Statements,” “Risk Factors” and other sections of Altisource’s Form 10-K and other filings with the
FOR FURTHER INFORMATION
Chief Financial Officer
T: (770) 612-7007
Source: Altisource Portfolio Solutions S.A.