SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* BHANDARI VIVEK (Last) (First) (Middle) 40, AVENUE MONTEREY (Street) LUXEMBOURG CITY N4 L-2163 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 05/21/2014	3. Issuer Name and Ticker or Trading Symbol Altisource Portfolio Solutions S.A. [ ASPS ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) President, Financial Services	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	(1)	01/25/2020	Common Stock	6,561(2)	21.08	D

Explanation of Responses:

1. On January 25, 2010, Mr. Bhandari was granted 15,000 options. The vesting schedule is as follows: (1) Time-Based. 3,750 Options(25%) vest in 4 increments, beginning on the anniversary of the grant date. (2) Performance-Based. 7,500 Options (50%) vest in 4increments: 1/4 of the options vest when: (x) the share price doubles the exercise price and (y) investors achieve a 20%Annualized Rate of Return based on the exercise price. Thereafter, 1/4 of the Options vest each anniversary of the initial vesting.(3) Extraordinary Performance-Based. The remaining 3,750 Options (25%) vest in 4 increments: 1/4 of the Options vest when: (x) the share price triples the exercise price and (y) investors achieve a 25% Annualized Rate of Return based on the exercise price. Thereafter, 1/4 of the Options vest each anniversary of the initial vesting.

2. 2,813 of the Time-Based Options were previously exercised, and the remaining 937 are currently vested. 3,750 of thePerformance-Based Options were previously exercised; of the remaining 3,750, 1,875 are currently vested, with the remaining1,875 vesting on November 11, 2014. 1,876 of the Extraordinary Performance-Based Options were previously exercised, with theremaining 1,874 vesting in two equal annual increments on June 8, 2014 and 2015.

	Teresa L. Denoncourt, Attorney-in-Fact	05/30/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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