Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 19, 2019
Document and Entity Information
Entity Registrant Name	Altisource Portfolio Solutions S.A.
Entity Central Index Key	0001462418
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding (in shares)		15,998,899
Entity Shell Company	false
Entity Treasury Stock (in shares)		9,413,849
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 85,379	$ 58,294
Investment in equity securities (Note 4)	43,730	36,181
Accounts receivable, net	44,247	36,466
Short-term investments in real estate (Note 7)	414	39,873
Assets held for sale (Note 3)	35,656	0
Prepaid expenses and other current assets	23,633	30,720
Total current assets	233,059	201,534
Premises and equipment, net (Notes 1 and 8)	59,980	45,631
Goodwill	79,009	81,387
Intangible assets, net	68,616	91,653
Deferred tax assets, net	293,287	309,089
Other assets	9,920	12,406
Total assets	743,871	741,700
Current liabilities:
Accounts payable and accrued expenses	63,791	87,240
Current portion of long-term debt	6,502	0
Deferred revenue	5,590	10,108
Liabilities held for sale (Note 3)	14,850	0
Other current liabilities (Notes 1 and 11)	20,410	7,030
Total current liabilities	111,143	104,378
Long-term debt, less current portion	319,854	331,476
Other non-current liabilities (Notes 1 and 13)	27,002	9,178
Commitments, contingencies and regulatory matters (Note 23)
Equity:
Common stock ($1.00 par value; 100,000 shares authorized, 25,413 issued and 16,079 outstanding as of June 30, 2019; 16,276 outstanding as of December 31, 2018)	25,413	25,413
Additional paid-in capital	128,120	122,667
Retained earnings	574,040	590,655
Treasury stock, at cost (9,334 shares as of June 30, 2019 and 9,137 shares as of December 31, 2018)	(443,480)	(443,304)
Altisource equity	284,093	295,431
Non-controlling interests	1,779	1,237
Total equity	285,872	296,668
Total liabilities and equity	$ 743,871	$ 741,700

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 1.000	$ 1
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	25,413,000	25,413,000
Common stock, shares outstanding (in shares)	16,079,000	16,276,000
Treasury stock, shares (in shares)	9,334,000	9,137,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 196,535		$ 218,556		$ 366,470	$ 415,994
Cost of revenue	152,641		163,206		276,745	310,400
Gross profit	43,894		55,350		89,725	105,594
Operating expenses:
Selling, general and administrative expenses	35,851		42,924		77,091	86,048
Restructuring charges (Note 22)	1,899		0		6,319	0
Income from operations	6,144		12,426		6,315	19,546
Other income (expense), net:
Interest expense	(6,550)		(7,027)		(13,299)	(12,890)
Unrealized gain (loss) on investment in equity securities (Note 4)	11,787		1,533		14,025	(5,968)
Other income (expense), net	528		(3,861)		902	(2,589)
Total other income (expense), net	5,765		(9,355)		1,628	(21,447)
Income (loss) before income taxes and non-controlling interests	11,909		3,071		7,943	(1,901)
Income tax (provision) benefit	(16,513)		(816)		(15,291)	549
Net (loss) income	(4,604)		2,255		(7,348)	(1,352)
Net income attributable to non-controlling interests	(1,240)		(687)		(1,680)	(1,212)
Net (loss) income attributable to Altisource	$ (5,844)		$ 1,568		$ (9,028)	$ (2,564)
(Loss) earnings per share:
Basic (in usd per share)	$ (0.36)		$ 0.09		$ (0.56)	$ (0.15)
Diluted (in usd per share)	$ (0.36)		$ 0.09		$ (0.56)	$ (0.15)
Weighted average shares outstanding:
Basic (in shares)	16,214		17,142		16,253	17,260
Diluted (in shares)	16,214		17,553		16,253	17,260
Comprehensive (loss) income:
Reclassification of unrealized gain on investment in equity securities, net of income tax provision of $200, to retained earnings from the cumulative effect of an accounting change		$ 0		$ 0	$ 0	$ (733)
Comprehensive (loss) income, net of tax	$ (4,604)		$ 2,255		(7,348)	(2,085)
Comprehensive income attributable to non-controlling interests	(1,240)		(687)		(1,680)	(1,212)
Comprehensive (loss) income attributable to Altisource	$ (5,844)		$ 1,568		$ (9,028)	$ (3,297)

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Treasury stock, at cost	Non-controlling interests
Balance (in shares) at Dec. 31, 2017		25,413
Balance at Dec. 31, 2017	$ 339,985	$ 25,413	$ 112,475	$ 626,600	$ 733	$ (426,609)	$ 1,373
Increase (Decrease) in Equity
Net (loss) income	(3,607)			(4,132)			525
Distributions to non-controlling interest holders	(672)						(672)
Share-based compensation expense	2,201		2,201
Exercise of stock options and issuance of restricted share units and restricted shares	2,617			(12,500)		15,117
Repurchase of shares	(9,994)					(9,994)
Balance (in shares) at Mar. 31, 2018		25,413
Balance at Mar. 31, 2018	320,082	$ 25,413	114,676	600,253	0	(421,486)	1,226
Balance (in shares) at Dec. 31, 2017		25,413
Balance at Dec. 31, 2017	339,985	$ 25,413	112,475	626,600	733	(426,609)	1,373
Increase (Decrease) in Equity
Net (loss) income	(1,352)
Balance (in shares) at Jun. 30, 2018		25,413
Balance at Jun. 30, 2018	312,291	$ 25,413	116,586	596,268	0	(427,380)	1,404
Balance (in shares) at Mar. 31, 2018		25,413
Balance at Mar. 31, 2018	320,082	$ 25,413	114,676	600,253	0	(421,486)	1,226
Increase (Decrease) in Equity
Net (loss) income	2,255			1,568			687
Distributions to non-controlling interest holders	(509)						(509)
Share-based compensation expense	1,910		1,910
Exercise of stock options and issuance of restricted share units and restricted shares	90			(4,737)		4,827
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances and stock option exercises	(410)			(816)		406
Repurchase of shares	(11,127)					(11,127)
Balance (in shares) at Jun. 30, 2018		25,413
Balance at Jun. 30, 2018	312,291	$ 25,413	116,586	596,268	0	(427,380)	1,404
Balance (in shares) at Dec. 31, 2018		25,413
Balance at Dec. 31, 2018	296,668	$ 25,413	122,667	590,655	0	(443,304)	1,237
Increase (Decrease) in Equity
Net (loss) income	(2,744)			(3,184)			440
Distributions to non-controlling interest holders	(620)						(620)
Share-based compensation expense	2,621		2,621
Exercise of stock options and issuance of restricted share units and restricted shares	28			(1,549)		1,577
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances and stock option exercises	(585)			(1,163)		578
Balance (in shares) at Mar. 31, 2019		25,413
Balance at Mar. 31, 2019	295,368	$ 25,413	125,288	584,759	0	(441,149)	1,057
Balance (in shares) at Dec. 31, 2018		25,413
Balance at Dec. 31, 2018	296,668	$ 25,413	122,667	590,655	0	(443,304)	1,237
Increase (Decrease) in Equity
Net (loss) income	(7,348)
Balance (in shares) at Jun. 30, 2019		25,413
Balance at Jun. 30, 2019	285,872	$ 25,413	128,120	574,040	0	(443,480)	1,779
Balance (in shares) at Mar. 31, 2019		25,413
Balance at Mar. 31, 2019	295,368	$ 25,413	125,288	584,759	0	(441,149)	1,057
Increase (Decrease) in Equity
Net (loss) income	(4,604)			(5,844)			1,240
Distributions to non-controlling interest holders	(518)						(518)
Share-based compensation expense	2,832		2,832
Exercise of stock options and issuance of restricted share units and restricted shares	207			(3,473)		3,680
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances and stock option exercises	(713)			(1,402)		689
Repurchase of shares	(6,700)					(6,700)
Balance (in shares) at Jun. 30, 2019		25,413
Balance at Jun. 30, 2019	$ 285,872	$ 25,413	$ 128,120	$ 574,040	$ 0	$ (443,480)	$ 1,779

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net loss	$ (7,348)	$ (1,352)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	17,315	17,049
Amortization of intangible assets	12,191	14,691
Unrealized (gain) loss on investment in equity securities	(14,025)	5,968
Share-based compensation expense	5,453	4,111
Bad debt expense	131	1,503
Amortization of debt discount	327	298
Amortization of debt issuance costs	363	502
Deferred income taxes	15,846	(1,349)
Loss on disposal of fixed assets	908	558
Loss on debt refinancing (Note 12)	0	4,434
Changes in operating assets and liabilities (excludes assets and liabilities held for sale, see Note 3):
Accounts receivable	(15,789)	6,923
Short-term investments in real estate	39,459	(5,884)
Prepaid expenses and other current assets	5,239	617
Other assets	(511)	967
Accounts payable and accrued expenses	(16,587)	(17,152)
Other current and non-current liabilities	(9,816)	(8,631)
Net cash provided by operating activities	33,156	23,253
Cash flows from investing activities:
Additions to premises and equipment	(934)	(2,756)
Proceeds received from sale of equity securities	6,476	0
Other	1,087	0
Net cash provided by (used in) investing activities	6,629	(2,756)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	0	407,880
Repayments and repurchases of long-term debt	(5,810)	(421,821)
Debt issuance costs	0	(5,042)
Proceeds from stock option exercises	235	2,707
Purchase of treasury shares	(6,700)	(21,121)
Distributions to non-controlling interests	(1,138)	(1,181)
Payments of tax withholding on issuance of restricted share units and restricted shares	(1,298)	(410)
Net cash used in financing activities	(14,711)	(38,988)
Net increase (decrease) in cash, cash equivalents and restricted cash	25,074	(18,491)
Cash, cash equivalents and restricted cash at the beginning of the period	64,046	108,843
Cash, cash equivalents and restricted cash at the end of the period	89,120	90,352
Supplemental cash flow information:
Interest paid	11,279	11,540
Income taxes (received) paid, net	(27)	2,865
Non-cash investing and financing activities:
Net (decrease) increase in payables for purchases of premises and equipment	(25)	398
Acquisition of right-to-use assets with lease obligations	6,200	0
Reduction of lease obligations from lease terminations and amendments	$ (3,409)	$ 0

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Description of Business Altisource Portfolio Solutions S.A., together with its subsidiaries (which may be referred to as “Altisource,” the “Company,” “we,” “us” or “our”), is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve. We are publicly traded on the NASDAQ Global Select Market under the symbol “ASPS.” We are organized under the laws of the Grand Duchy of Luxembourg. Basis of Accounting and Presentation The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, these financial statements do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, the interim data includes all normal recurring adjustments considered necessary to fairly state the results for the interim periods presented. The preparation of interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our interim condensed consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Intercompany transactions and accounts have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to the current year presentation. Effective January 1, 2019, the Company reorganized its internal reporting structure in connection with Project Catalyst, a project initiated in August 2018 to optimize our operations and reduce costs to better align our cost structure with our anticipated revenues and improve our operating margins (see Note 22). The internal reorganization included, among other changes, the replacement of segment presidents with a chief operating officer, who is responsible for products, services and operations for the Company’s Mortgage Market and Real Estate Market businesses, reporting to our Chairman and Chief Executive Officer (our chief operating decision maker) who manages our businesses, regularly reviews operating results and profitability, allocates resources and evaluates performance on a consolidated basis. Prior to January 1, 2019, the Company reported our operations through two reportable segments: Mortgage Market and Real Estate Market. In addition, we reported Other Businesses, Corporate and Eliminations separately. The prior year presentation has been reclassified to conform to the current year presentation. Altisource consolidates Best Partners Mortgage Cooperative, Inc., which is managed by The Mortgage Partnership of America, L.L.C. (“MPA”), a wholly-owned subsidiary of Altisource. Best Partners Mortgage Cooperative, Inc. is a mortgage cooperative doing business as Lenders One^® (“Lenders One”). MPA provides services to Lenders One under a management agreement that ends on December 31, 2025 (with renewals for three successive five-year periods at MPA’s option). The management agreement between MPA and Lenders One, pursuant to which MPA is the management company, represents a variable interest in a variable interest entity. MPA is the primary beneficiary of Lenders One as it has the power to direct the activities that most significantly impact the cooperative’s economic performance and the right to receive benefits from the cooperative. As a result, Lenders One is presented in the accompanying condensed consolidated financial statements on a consolidated basis and the interests of the members are reflected as non-controlling interests. As of June 30, 2019, Lenders One had total assets of $3.2 million and total liabilities of $1.6 million. As of December 31, 2018, Lenders One had total assets of $2.7 million and total liabilities of $1.3 million. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the SEC on February 26, 2019. Fair Value Measurements Fair value is defined as an exit price, representing the amount that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assets and liabilities, is as follows: Level 1 — Quoted prices in active markets for identical assets and liabilities Level 2 — Observable inputs other than quoted prices included in Level 1 Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of assets or liabilities. Financial assets and financial liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Our assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. Recently Adopted Accounting Pronouncement In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) and in July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (collectively “Topic 842”). Topic 842 introduces a new lessee model that brings substantially all leases on the balance sheet. This standard requires lessees to recognize lease assets and lease liabilities on their balance sheets and disclose key information about leasing arrangements in their financial statements. The Company adopted Topic 842 effective January 1, 2019 using the modified retrospective transition approach. In addition, the Company elected the practical expedients permitted under the transition guidance within the new standard, including allowing the Company to carry forward its historical lease classification, using hindsight to determine the lease term for existing leases, combining fixed lease and non-lease components and excluding short-term leases. Adoption of this new standard resulted in the recognition of $42.1 million of right-to-use assets in premises and equipment, net, $45.5 million of lease obligation liabilities ($16.7 million in other current liabilities and $28.8 million in other non-current liabilities) and reduced accrued rent and lease incentives of $3.4 million in accounts payable and accrued expenses and other non-current liabilities on the accompanying condensed consolidated balance sheets. Future Adoption of New Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This standard will simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Current guidance requires that companies compute the implied fair value of goodwill under Step 2 by performing procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. This standard will require companies to perform annual or interim goodwill impairment tests by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This standard will be effective for annual periods beginning after December 15, 2019, including interim periods within that reporting period, and will be applied prospectively. Early adoption of this standard is permitted. The Company is currently evaluating the impact this guidance may have on its condensed consolidated financial statements; however, adoption of this standard as of June 30, 2019 would not have had any impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This standard modifies certain disclosure requirements such as the valuation processes for Level 3 fair value measurements. This standard also requires new disclosures such as the disclosure of certain assumptions used to develop significant unobservable inputs for Level 3 fair value measurements. This standard will be effective for annual periods beginning after December 15, 2019, including interim periods within that reporting period. Early adoption of either the entire standard or only the provisions that eliminate or modify requirements is permitted. The Company currently does not expect the adoption of this guidance to have an impact on its condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force). This standard aligns the requirements for capitalizing implementation costs in a hosting arrangement service contract with the existing guidance for capitalizing implementation costs incurred for an internal-use software license. This standard also requires capitalizing or expensing implementation costs based on the nature of the costs and the project stage during which they are incurred and establishes additional disclosure requirements. This standard will be effective for annual periods beginning after December 15, 2019, including interim periods within that reporting period. Early adoption of this standard is permitted. The Company currently plans to adopt the standard prospectively and is currently evaluating the impact this guidance may have on its condensed consolidated financial statements.

CUSTOMER CONCENTRATION	6 Months Ended
CUSTOMER CONCENTRATION	Jun. 30, 2019
Risks and Uncertainties [Abstract]
CUSTOMER CONCENTRATION	CUSTOMER CONCENTRATION Ocwen Ocwen Financial Corporation (“Ocwen”) is a residential mortgage loan servicer of mortgage servicing rights (“MSRs”) it owns, including those MSRs in which others have an economic interest, and a subservicer of MSRs owned by others. During the three and six months ended June 30, 2019, Ocwen was our largest customer, accounting for 51% of our total revenue for the six months ended June 30, 2019 (44% of our revenue for the second quarter of 2019). Ocwen purchases certain mortgage services and technology services from us under the terms of services agreements and amendments thereto (collectively, the “Ocwen Services Agreements”) with terms extending through August 2025. Certain of the Ocwen Services Agreements contain a “most favored nation” provision and also grant the parties the right to renegotiate pricing, among other things. Revenue from Ocwen primarily consists of revenue earned from the loan portfolios serviced and subserviced by Ocwen when Ocwen engages us as the service provider, and revenue earned directly from Ocwen, pursuant to the Ocwen Services Agreements. For the six months ended June 30, 2019 and 2018, we recognized revenue from Ocwen of $185.2 million and $210.8 million, respectively ($87.0 million and $108.8 million for the second quarter of 2019 and 2018, respectively). Revenue from Ocwen as a percentage of consolidated revenue was 51% for both the six months ended June 30, 2019 and 2018 (44% and 50% for the second quarter of 2019 and 2018, respectively). We earn additional revenue related to the portfolios serviced and subserviced by Ocwen when a party other than Ocwen or the MSR owner selects Altisource as the service provider. For the six months ended June 30, 2019 and 2018, we recognized revenue of $20.3 million and $26.2 million, respectively ($9.2 million and $11.0 million for the second quarter of 2019 and 2018, respectively), related to the portfolios serviced by Ocwen when a party other than Ocwen or the MSR owner selected Altisource as the service provider. These amounts are not included in deriving revenue from Ocwen and revenue from Ocwen as a percentage of revenue above. As of June 30, 2019, accounts receivable from Ocwen totaled $28.1 million, $24.1 million of which was billed and $4.0 million of which was unbilled. As of December 31, 2018, accounts receivable from Ocwen totaled $15.2 million, $11.6 million of which was billed and $3.6 million of which was unbilled. As of February 22, 2019, Altisource and Ocwen entered into agreements that, among other things, facilitate Ocwen’s transition from REALServicing^® and related technologies to another mortgage servicing software platform, establish a process for Ocwen to review and approve the assignment of one or more of our agreements to potential buyers of Altisource’s business lines, permit Ocwen to use service providers other than Altisource for up to 10% of referrals from certain portfolios (determined on a service-by-service basis), subject to certain restrictions, and affirms Altisource’s role as a strategic service provider to Ocwen through August 2025. If Altisource fails certain performance standards for specified periods of time, then Ocwen may terminate Altisource as a provider for the applicable service(s), subject to certain limitations and Altisource’s right to cure. We do not anticipate that the servicing technology transition will materially impact the other services we provide to Ocwen. For the six months ended June 30, 2019 and 2018, service revenue from REALServicing and related technologies was $11.3 million and $17.5 million, respectively ($3.1 million and $7.9 million for the second quarter of 2019 and 2018, respectively). NRZ New Residential Investment Corp. (individually, together with one or more of its subsidiaries or one or more of its subsidiaries individually, “NRZ”) is a real estate investment trust that invests in and manages investments primarily related to residential real estate, including MSRs and excess MSRs. Ocwen has disclosed that NRZ is its largest client. As of March 31, 2019, NRZ owned MSRs or rights to MSRs relating to approximately 50% of loans serviced and subserviced by Ocwen (measured in unpaid principal balances (“UPB”)). In July 2017 and January 2018, Ocwen and NRZ entered into a series of agreements pursuant to which the parties agreed, among other things, to undertake certain actions to facilitate the transfer from Ocwen to NRZ of Ocwen’s legal title to certain of its MSRs (the “Subject MSRs”) and under which Ocwen will subservice mortgage loans underlying the MSRs for an initial term of five years. On August 28, 2017, Altisource, through its licensed subsidiaries, entered into a Cooperative Brokerage Agreement, as amended, and related letter agreement (collectively, the “Brokerage Agreement”) with NRZ which extends through August 2025. Under this agreement and related amendments, Altisource remains the exclusive provider of brokerage services for real estate owned (“REO”) associated with the Subject MSRs, irrespective of the subservicer, subject to certain limitations. NRZ’s brokerage subsidiary receives a cooperative brokerage commission on the sale of REO properties from these portfolios subject to certain exceptions. The Brokerage Agreement can, at Altisource’s discretion, be terminated by Altisource if a services agreement is not signed by Altisource and NRZ. The Brokerage Agreement may otherwise only be terminated upon the occurrence of certain specified events. Termination events include, but are not limited to, a breach of the terms of the Brokerage Agreement (including, without limitation, the failure to meet performance standards and non-compliance with law in a material respect), the failure to maintain licenses which failure materially prevents performance of the contract, regulatory allegations of non-compliance resulting in an adversarial proceeding against NRZ, voluntary or involuntary bankruptcy, appointment of a receiver, disclosure in a Form 10-K or Form 10-Q that there is significant uncertainty about Altisource’s ability to continue as a going concern, failure to maintain a specified level of cash and an unapproved change of control. For the six months ended June 30, 2019 and 2018, we recognized revenue from NRZ of $7.0 million and $19.2 million, respectively ($3.0 million and $8.9 million for the second quarter of 2019 and 2018, respectively), under the Brokerage Agreement. For the six months ended June 30, 2019 and 2018, we recognized additional revenue of $34.1 million and $42.8 million, respectively ($16.4 million and $26.7 million for the second quarter of 2019 and 2018, respectively), relating to the Subject MSRs when a party other than NRZ selects Altisource as the service provider.

SALE OF BUSINESS AND ASSETS AND LIABILITIES HELD FOR SALE

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

SALE OF BUSINESS AND ASSETS AND LIABILITIES HELD FOR SALE

SALE OF BUSINESSES AND ASSETS AND LIABILITIES HELD FOR SALE

Rental Property Management Business

In August 2018, Altisource entered into an amendment to its agreements with Front Yard Residential Corporation (“RESI”) to sell Altisource’s rental property management business to RESI and permit RESI to internalize certain services that had been provided by Altisource. These services were historically provided under an agreement between RESI and Altisource, in which Altisource was the sole provider of rental property management services to RESI through December 2027, subject to certain exceptions. The proceeds from the transaction totaled $18.0 million, payable in two installments. The first installment of $15.0 million was received on the closing date of August 8, 2018. The second installment of $3.0 million will be received on the earlier of a RESI change of control or on August 8, 2023. The second installment was recorded as a long-term receivable in other assets in the accompanying condensed consolidated balance sheets and has a discounted value of $2.3 million and $2.2 million as of June 30, 2019 and December 31, 2018, respectively.

Financial Services Business

On March 28, 2019, Altisource entered into a definitive agreement to sell its Financial Services business, consisting of its post-charge-off consumer debt and mortgage charge-off collection services and customer relationship management services (the “Financial Services Business”) to Transworld Systems Inc. (“TSI”) for $44.0 million consisting of an up-front payment of $40.0 million, subject to a working capital adjustment and transaction costs upon closing of the sale, and an additional $4.0 million payment on the one year anniversary of the sale closing. The sale of the Financial Services Business to TSI closed on July 1, 2019 (see Note 24). In connection with the transaction, the parties also entered into a transition services agreement to provide for the management and orderly transition of certain services and technologies to TSI for periods ranging from 2 months to 13 months. These services include support for information technology systems and infrastructure, facilities management, finance, compliance and human resources functions and will be charged to TSI on a fixed fee or hourly basis.

As a result of entering into a definitive agreement to sell the Financial Services Business, the assets and liabilities of the Financial Services Business are reported as assets held for sale and liabilities held for sale in the accompanying condensed consolidated balance sheets as of June 30, 2019, and consist of the following:



(in thousands)	June 30, 2019

Accounts receivable, net	$	7,404
Prepaid expenses and other current assets	1,581
Premises and equipment, net	12,506
Goodwill	2,378
Intangible assets, net	10,846
Other assets	941

Total assets held for sale	$	35,656

Accounts payable and accrued expenses	$	4,792
Other current liabilities	2,632
Other non-current liabilities	7,426

Total liabilities held for sale	$	14,850

DISCONTINUATION OF THE BUY-RENOVATE-LEASE-SELL BUSINESS

On November 26, 2018, the Company announced its plans to sell its short-term investments in real estate (“BRS Inventory”) and discontinue the Company’s Buy-Renovate-Lease-Sell (“BRS”) business. Altisource’s BRS business focused on buying, renovating, leasing and selling single-family homes to real estate investors. The BRS business is not material in relation to the Company’s results of operations or financial position. In anticipation of receiving the majority of the proceeds from the sale of the BRS Inventory in 2019, the Company repaid $49.9 million of its senior secured term loan in the fourth quarter of 2018.

On June 28, 2019, the Company sold the majority of the BRS Inventory to Lafayette Real Estate for $38.9 million. Following this and previous sales, only two homes with a value of $0.4 million remain to be sold. In connection with the sale of the majority of the BRS Inventory, the Company incurred a $1.8 million loss including closing costs.

INVESTMENT IN EQUITY SECURITIES	6 Months Ended
INVESTMENT IN EQUITY SECURITIES	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
INVESTMENT IN EQUITY SECURITIES	INVESTMENT IN EQUITY SECURITIES During 2016, we purchased 4.1 million shares of RESI common stock. This investment is reflected in the accompanying condensed consolidated balance sheets at fair value and changes in fair value are included in other income (expense), net in the accompanying condensed consolidated statements of operations and comprehensive income (loss). As of June 30, 2019 and December 31, 2018, we held 3.6 million and 4.1 million shares, respectively, of RESI common stock. As of June 30, 2019 and December 31, 2018, the fair value of our investment was $43.7 million and $36.2 million, respectively. During the six months ended June 30, 2019 and 2018, we recognized an unrealized gain (loss) from the change in fair value of $14.0 million and $(6.0) million, respectively ($11.8 million and $1.5 million for the second quarter of 2019 and 2018, respectively). The unrealized gains for the three and six months ended June 30, 2019 included $1.2 million and $1.5 million, respectively, of net gains recognized on RESI shares sold during the second quarter of 2019. During the six months ended June 30, 2019 and 2018, we earned dividends of $1.2 million, in each period ($0.5 million and $0.6 million for the second quarter of 2019 and 2018, respectively), related to this investment. Pursuant to the agreement between Altisource and RESI to sell the rental property management business to RESI (see Note 3 for additional information), Altisource was subject to a lock-up period with respect to the sale or transfer of the shares of common stock of RESI owned by Altisource (the “Shares”) through December 31, 2018. In addition, during each quarter of 2019, Altisource is permitted to sell or transfer no more than 25% of the Shares, provided that any Shares not sold in the applicable quarter will increase the amount that may be sold in the subsequent quarters by 50% of the unsold permitted amount. Thereafter, all transfer restrictions will expire and any remaining Shares will be freely transferable. Notwithstanding these restrictions, Altisource retains the right to sell or transfer the Shares at any time: (i) where Altisource has a good faith belief that its or its affiliates’ liquidity should be increased and the sale is necessary to achieve such an increase; (ii) where the proceeds of sales will be used to finance a strategic acquisition transaction; (iii) in privately negotiated block transactions with unrelated third parties or a similar transaction; or (iv) where RESI is the subject of a tender offer that is reasonably likely to result in a change of control or where RESI undergoes a change of control. In May 2019, the Company began selling its investment in RESI common stock. During the three and six months ended June 30, 2019, the Company sold 0.6 million shares for net proceeds of $6.5 million. As required by the senior secured term loan agreement, the Company is using the net proceeds to repay a portion of its senior secured term loan.

ACCOUNTS RECEIVABLE, NET

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following:



(in thousands)	June 30, 2019			December 31, 2018

Billed	$	39,130		$	35,590
Unbilled	14,382			11,759
	53,512			47,349
Less: Allowance for doubtful accounts	(9,265		)	(10,883		)

Total	$	44,247		$	36,466

Unbilled accounts receivable consist primarily of certain real estate asset management, REO sales, title and closing services for which we generally recognize revenue when the service is provided but collect upon closing of the sale, and foreclosure trustee services, for which we generally recognize revenues over the service delivery period but bill following completion of the service. We also include amounts in unbilled accounts receivable that are earned during a month and billed in the following month.

DISCONTINUATION OF THE BUY-RENOVATE-LEASE-SELL BUSINESS

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUATION OF THE BUY-RENOVATE-LEASE-SELL BUSINESS

SALE OF BUSINESSES AND ASSETS AND LIABILITIES HELD FOR SALE

Rental Property Management Business

Financial Services Business



(in thousands)	June 30, 2019

Accounts receivable, net	$	7,404
Prepaid expenses and other current assets	1,581
Premises and equipment, net	12,506
Goodwill	2,378
Intangible assets, net	10,846
Other assets	941

Total assets held for sale	$	35,656

Accounts payable and accrued expenses	$	4,792
Other current liabilities	2,632
Other non-current liabilities	7,426

Total liabilities held for sale	$	14,850

DISCONTINUATION OF THE BUY-RENOVATE-LEASE-SELL BUSINESS

PREMISES AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

Premises and equipment, net consists of the following:



(in thousands)	June 30, 2019			December 31, 2018

Computer hardware and software	$	169,684		$	182,215
Office equipment and other	4,006			7,384
Furniture and fixtures	9,710			13,313
Leasehold improvements	24,178			29,781
	207,578			232,693
Less: Accumulated depreciation and amortization	(175,861		)	(187,062		)
Net	31,717			45,631

Right-to-use assets under operating leases	34,503			—
Less: Accumulated depreciation and amortization	(6,240		)	—
Net right-to-use assets	28,263			—

Total premises and equipment, net	$	59,980		$	45,631

Depreciation and amortization expense totaled $17.3 million and $17.0 million for the six months ended June 30, 2019 and 2018, respectively ($7.9 million and $8.3 million for the second quarter of 2019 and 2018, respectively), and is included in cost of revenue for operating assets and in selling, general and administrative expenses for non-operating assets in the accompanying condensed consolidated statements of operations and comprehensive income (loss).

Premises and equipment, net consist of the following, by country:



(in thousands)	June 30, 2019		December 31, 2018

United States	$	27,879	$	25,693
India	16,269		3,154
Luxembourg	14,503		14,975
Philippines	1,094		1,754
Other	235		55

Total	$	59,980	$	45,631

GOODWILL AND INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The change in goodwill during the six months ended June 30, 2019 is as follows:



(in thousands)	Total

Balance as of December 31, 2018	$	81,387
Reclassification to assets held for sale (Note 3)	(2,378		)

Balance as of June 30, 2019	$	79,009

Intangible Assets, net

Intangible assets, net consist of the following:



	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization						Net book value
(in thousands)	Weighted average estimated useful life (in years)	June 30, 2019		December 31, 2018		June 30, 2019			December 31, 2018			June 30, 2019		December 31, 2018

Definite lived intangible assets:
Customer related intangible assets	9	$	214,973	$	273,172	$	(170,756	)	$	(207,639	)	$	44,217	$	65,533
Operating agreement	20	35,000		35,000		(16,501		)	(15,632		)	18,499		19,368
Trademarks and trade names	15	11,140		11,349		(6,342		)	(6,244		)	4,798		5,105
Non-compete agreements	4	1,230		1,230		(1,180		)	(1,026		)	50		204
Intellectual property	10	300		300		(160		)	(145		)	140		155
Other intangible assets	5	3,745		3,745		(2,833		)	(2,457		)	912		1,288

Total		$	266,388	$	324,796	$	(197,772	)	$	(233,143	)	$	68,616	$	91,653

Amortization expense for definite lived intangible assets was $12.2 million and $14.7 million for six months ended June 30, 2019 and 2018, respectively ($3.5 million and $7.5 million for the second quarter of 2019 and 2018, respectively). Expected annual definite lived intangible asset amortization expense for 2019 through 2023 is $19.4 million, $13.3 million, $10.8 million, $5.3 million and $5.3 million, respectively.

LONG-TERM DEBT

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of the following:



(in thousands)	June 30, 2019			December 31, 2018

Senior secured term loans	$	333,012		$	338,822
Less: Debt issuance costs, net	(3,492		)	(3,855		)
Less: Unamortized discount, net	(3,164		)	(3,491		)
Net long-term debt	326,356			331,476
Less: Current portion	(6,502		)	—

Long-term debt, less current portion	$	319,854		$	331,476

On April 3, 2018, Altisource Portfolio Solutions S.A. and its wholly-owned subsidiary, Altisource S.à r.l. entered into a credit agreement (the “Credit Agreement”) with Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent, and certain lenders. Under the Credit Agreement, Altisource borrowed $412.0 million in the form of Term B Loans and obtained a $15.0 million revolving credit facility. The Term B Loans mature in April 2024 and the revolving credit facility matures in April 2023. Altisource Portfolio Solutions S.A. and certain subsidiaries are guarantors of the term loan and the revolving credit facility (collectively, the “Guarantors”).

Proceeds from the Term B Loans were used to repay the Company’s prior senior secured term loan, which had an outstanding balance of $412.1 million as of April 3, 2018. In connection with the refinancing, we recognized a loss of $4.4 million from the write-off of unamortized debt issuance costs and debt discount in the second quarter of 2018.

There are no mandatory repayments of the Term B Loans due until March 2020, when $3.4 million is due to be repaid. Thereafter, the Term B Loans must be repaid in consecutive quarterly principal installments of $3.1 million, with the balance due at maturity. All amounts outstanding under the Term B Loans will become due on the earlier of (i) April 3, 2024, and (ii) the date on which the loans are declared to be due and owing by the administrative agent at the request (or with the consent) of the Required Lenders (as defined in the Credit Agreement; other capitalized terms, unless defined herein, are defined in the Credit Agreement) or as otherwise provided in the Credit Agreement upon the occurrence of any event of default.

In addition to the scheduled principal payments, subject to certain exceptions, the Term B Loans are subject to mandatory prepayment upon issuances of debt, certain casualty and condemnation events and sales of assets, as well as from a percentage of Consolidated Excess Cash Flow if the leverage ratio is greater than 3.00 to 1.00, as calculated in accordance with the provisions of the Credit Agreement (the percentage increases if the leverage ratio exceeds 3.50 to 1.00). Certain mandatory prepayments reduce future contractual amortization payments in direct order of maturity by an amount equal to the mandatory prepayment.

On July 1, 2019, Altisource closed the sale of the Financial Services Business to TSI and received a $40.0 million up-front payment less adjustments for working capital and transaction costs (see Note 24). On July 17, 2019, Altisource used $37.0 million to repay a portion of the senior secured term loan.

Altisource may incur incremental indebtedness under the Credit Agreement from one or more incremental lenders, which may include existing lenders, in an aggregate incremental principal amount not to exceed $125.0 million, subject to certain conditions set forth in the Credit Agreement, including a sublimit of $80.0 million with respect to incremental revolving credit commitments. The lenders have no obligation to provide any incremental indebtedness.

The Term B Loans bear interest at rates based upon, at our option, the Adjusted Eurodollar Rate or the Base Rate. Adjusted Eurodollar Rate term loans bear interest at a rate per annum equal to the sum of (i) the greater of (x) the Adjusted Eurodollar Rate for a three month interest period and (y) 1.00% plus (ii) 4.00%. Base Rate term loans bear interest at a rate per annum equal to the sum of (i) the greater of (x) the Base Rate and (y) 2.00% plus (ii) 3.00%. The interest rate as of June 30, 2019 was 6.33%.

Loans under the revolving credit facility bear interest at rates based upon, at our option, the Adjusted Eurodollar Rate or the Base Rate. Adjusted Eurodollar Rate revolving loans bear interest at a rate per annum equal to the sum of (i) the Adjusted Eurodollar Rate for a three month interest period plus (ii) 4.00%. Base Rate revolving loans bear interest at a rate per annum equal to the sum of (i) the Base Rate plus (ii) 3.00%. The unused commitment fee is 0.50%. There were no borrowings outstanding under the revolving credit facility as of June 30, 2019.

The payment of all amounts owing by Altisource under the Credit Agreement is guaranteed by the Guarantors and is secured by a pledge of all equity interests of certain subsidiaries of Altisource, as well as a lien on substantially all of the assets of Altisource S.à r.l. and the Guarantors, subject to certain exceptions.

The Credit Agreement includes covenants that restrict or limit, among other things, our ability, subject to certain exceptions and baskets, to incur indebtedness; incur liens on our assets; sell, transfer or dispose of assets; make Restricted Junior Payments including share repurchases, dividends and repayment of junior indebtedness; make investments; dispose of equity interests of any Material Subsidiaries; engage in a line of business substantially different than existing businesses and businesses reasonably related, complimentary or ancillary thereto; amend material debt agreements or other material contracts; engage in certain transactions with affiliates; enter into sale/leaseback transactions; grant negative pledges or agree to such other restrictions relating to subsidiary dividends and distributions; make changes to our fiscal year; and engage in mergers and consolidations; and to the extent any Revolving Credit Loans are outstanding on the last day of a fiscal quarter, permit the Total Leverage Ratio to be greater than 3.50:1.00 as of the last day of such fiscal quarter, subject to a customary cure provision (the “Revolving Financial Covenant”).

The Credit Agreement contains certain events of default including (i) failure to pay principal when due or interest or any other amount owing on any other obligation under the Credit Agreement within five days of becoming due, (ii) material incorrectness of representations and warranties when made, (iii) breach of certain other covenants, subject to cure periods described in the Credit Agreement, (iv) a breach of the Revolving Financial Covenant, subject to a customary cure provision and not an Event of Default with respect to the Term Loans unless and until the Required Revolving Lenders accelerate the Revolving Credit Loans, (v) failure to pay principal or interest on any other debt that equals or exceeds $40.0 million when due, (vi) default on any other debt that equals or exceeds $40.0 million that causes, or gives the holder or holders of such debt the ability to cause, an acceleration of such debt, (vii) occurrence of a Change of Control, (viii) bankruptcy and insolvency events, (ix) entry by a court of one or more judgments against us in an amount in excess of $40.0 million that remain unbonded, undischarged or unstayed for a certain number of days after the entry thereof, (x) the occurrence of certain ERISA events and (xi) the failure of certain Loan Documents to be in full force and effect. If any event of default occurs and is not cured within applicable grace periods set forth in the Credit Agreement or waived, all loans and other obligations could become due and immediately payable and the facility could be terminated.

As of June 30, 2019, debt issuance costs were $3.5 million, net of $1.1 million of accumulated amortization. As of December 31, 2018, debt issuance costs were $3.9 million, net of $0.7 million of accumulated amortization.

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS

The following table presents the carrying amount and estimated fair value of financial instruments and certain liabilities measured at fair value as of June 30, 2019 and December 31, 2018. The following fair values are estimated using market information and what the Company believes to be appropriate valuation methodologies under GAAP:



	June 30, 2019								December 31, 2018
(in thousands)	Carrying amount		Fair value						Carrying amount		Fair value
			Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	85,379	$	85,379	$	—	$	—	$	58,294	$	58,294	$	—	$	—
Restricted cash	3,741		3,741		—		—		5,752		5,752		—		—
Investment in equity securities	43,730		43,730		—		—		36,181		36,181		—		—
Long-term receivable (Note 3)	2,295		—		—		2,295		2,221		—		—		2,221

Liabilities:
Senior secured term loan	333,012		—		328,433		—		338,822		—		330,351		—

Fair Value Measurements on a Recurring Basis

Cash and cash equivalents and restricted cash are carried at amounts that approximate their fair values due to the highly liquid nature of these instruments and were measured using Level 1 inputs.

Investment in equity securities is carried at fair value and consists of 3.6 million and 4.1 million shares of RESI common stock as of June 30, 2019 and December 31, 2018, respectively. The investment in equity securities is measured using Level 1 inputs as these securities have quoted prices in active markets.

The fair value of our senior secured term loan is based on quoted market prices. Based on the frequency of trading, we do not believe that there is an active market for our debt. Therefore, the quoted prices are considered Level 2 inputs.

In connection with the sale of the rental property management business in August 2018, Altisource will receive $3.0 million on the earlier of a RESI change of control or on August 8, 2023 (see Note 3 for additional information). We measure long-term receivables without a stated interest rate based on the present value of the future payments.

There were no transfers between different levels during the periods presented.

Concentrations of Credit Risk

Financial instruments that subject us to concentrations of credit risk primarily consist of cash and cash equivalents and accounts receivable. Our policy is to deposit our cash and cash equivalents with larger, highly rated financial institutions. The Company derives over 50% of its revenues from Ocwen (see Note 2 for additional information on Ocwen revenues and accounts receivable balance). The Company mitigates its concentrations of credit risk with respect to accounts receivable by actively monitoring past due accounts and the economic status of larger customers, if known.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION

Share Repurchase Program

On May 15, 2018, our shareholders approved the renewal and replacement of the share repurchase program previously approved by the shareholders on May 17, 2017. Under the program, we are authorized to purchase up to 4.3 million shares of our common stock, based on a limit of 25% of the outstanding shares of common stock on the date of approval, at a minimum price of $1.00 per share and a maximum price of $500.00 per share, for a period of five years from the date of approval. As of June 30, 2019, approximately 3.1 million shares of common stock remain available for repurchase under the program. We purchased 0.3 million shares of common stock at an average price of $21.89 per share during the six months ended June 30, 2019 and 0.8 million shares at an average price of $27.39 per share during the six months ended June 30, 2018 (0.3 million shares at an average price of $21.89 per share for the second quarter of 2019 and 0.4 million shares at an average price of $27.14 per share for the second quarter of 2018). Luxembourg law limits share repurchases to the balance of Altisource Portfolio Solutions S.A. (unconsolidated parent company) retained earnings, less the value of shares repurchased. As of June 30, 2019, we can repurchase up to approximately $105 million of our common stock under Luxembourg law. Our Credit Agreement also limits the amount we can spend on share repurchases, which was approximately $467 million as of June 30, 2019, and may prevent repurchases in certain circumstances.

Share-Based Compensation

We issue share-based awards in the form of stock options, restricted shares and restricted share units for certain employees, officers and directors. We recognized share-based compensation expense of $5.5 million and $4.1 million for the six months ended June 30, 2019 and 2018, respectively ($2.8 million and $1.9 million for the second quarter of 2019 and 2018, respectively). As of June 30, 2019, estimated unrecognized compensation costs related to share-based awards amounted to $14.6 million, which we expect to recognize over a weighted average remaining requisite service period of approximately 1.72 years.

Stock Options

Stock option grants are composed of a combination of service-based, market-based and performance-based options.

Service-Based Options. These options generally vest over three or four years with equal annual vesting and expire on the earlier of ten years after the date of grant or following termination of service. A total of 460 thousand service-based options were outstanding as of June 30, 2019.

Market-Based Options. These option grants generally have two components, each of which vests only upon the achievement of certain criteria. The first component, which we refer to as “ordinary performance” grants, generally consists of two-thirds of the market-based grant and begins to vest if the stock price is at least double the exercise price, as long as the stock price realizes a compounded annual gain of at least 20% over the exercise price. The remaining third of the market-based options, which we refer to as “extraordinary performance” grants, generally begins to vest if the stock price is at least triple the exercise price, as long as the stock price realizes a compounded annual gain of at least 25% over the exercise price. Market-based options vest in three or four year installments with the first installment vesting upon the achievement of the criteria and the remaining installments vesting thereafter in equal annual installments. Market-based options generally expire on the earlier of ten years after the date of grant or following termination of service, unless the performance criteria is met prior to termination of service or in the final three years of the option term, in which case vesting will generally continue in accordance with the provisions of the award agreement. A total of 600 thousand market-based options were outstanding as of June 30, 2019.

Performance-Based Options. These option grants generally begin to vest upon the achievement of certain specific financial measures. Generally, the options begin vesting if the performance criteria are achieved; one-fourth vests on each anniversary of the grant date. For certain other financial measures, options cliff-vest upon the achievement of the specific performance during the period from 2019 through 2021. The award of performance-based options is adjusted based on the level of achievement specified in the award agreements. If the performance criteria achieved is above threshold performance levels, participants have the opportunity to vest in 50% to 200% of the option grants, depending upon performance achieved. If the performance criteria achieved is below a certain threshold, the options are canceled. The options expire on the earlier of ten years after the date of grant or following termination of service. There were 503 thousand performance-based options outstanding as of June 30, 2019.

There were no stock option grants during the six months ended June 30, 2019. Outstanding stock options increased by 228 thousand in February 2019 in connection with the determination of the level of achievement for certain performance-based options granted in 2018. During the six months ended June 30, 2018, 272 thousand stock options (at a weighted average exercise price of $25.06 per share) were granted.

The fair values of the service-based options and performance-based options are determined using the Black-Scholes option pricing model and the fair values of the market-based options were determined using a lattice (binomial) model. The following assumptions were used to determine the fair values as of the grant date:



	Six months ended June 30, 2018
	Black-Scholes	Binomial

Risk-free interest rate (%)	2.66 – 2.98	1.64 – 2.83
Expected stock price volatility (%)	70.31 – 71.86	71.81 – 71.86
Expected dividend yield	—	—
Expected option life (in years)	6.00 – 6.25	2.56 – 4.32
Fair value	$16.17 – $19.06	$14.67 – $18.28

We determined the expected option life of all service-based stock option grants using the simplified method. We use the simplified method because we believe that our historical data does not provide a reasonable basis upon which to estimate expected option life.

The following table summarizes the weighted average grant date fair value of stock options granted per share, the total intrinsic value of stock options exercised and the grant date fair value of stock options that vested during the periods presented:



	Six months ended June 30,
(in thousands, except per share amounts)	2019		2018

Weighted average grant date fair value of stock options granted per share	$	—	$	16.27
Intrinsic value of options exercised	34		4,393
Grant date fair value of stock options that vested	2,752		1,334

The following table summarizes the activity related to our stock options:



	Number of options		Weighted average exercise price		Weighted average contractual term (in years)	Aggregate intrinsic value (in thousands)

Outstanding as of December 31, 2018	1,440,566		$	30.78	5.04	$	945
Performance criteria achieved	227,849		24.98
Exercised	(12,500	)	18.79
Forfeited	(93,210	)	46.27

Outstanding as of June 30, 2019	1,562,705		29.11		4.93	172

Exercisable as of June 30, 2019	990,130		26.51		3.30	166

Other Share-Based Awards

The Company’s other share-based and similar types of awards are composed of restricted shares and, beginning in 2018, restricted share units. The restricted shares and restricted share units are composed of a combination of service-based awards and performance-based awards.

Service-Based Awards. These awards generally vest over two to four year periods with (a) vesting in equal annual installments, or (b) vesting of all of the restricted shares and restricted share units at the end of the vesting period. In addition, certain awards begin to vest after two years of service. A total of 546 thousand service-based awards were outstanding as of June 30, 2019.

Performance-Based Awards. These awards generally begin to vest upon the achievement of certain specific financial measures. Generally, the awards begin vesting if the performance criteria are achieved; one-third vests on each anniversary of the grant date or cliff-vest on the third anniversary of the grant date. The number of performance-based restricted shares and restricted share units that may vest will be based on the level of achievement, as specified in the award agreements. If the performance criteria achieved is above certain financial performance levels and Altisource’s share performance is above certain established criteria, participants have the opportunity to vest in up to 225% of the restricted share unit award for certain awards, depending on performance achieved. If the performance criteria achieved is below a certain threshold, the award is canceled. A total of 150 thousand performance-based awards were outstanding as of June 30, 2019.

The Company granted 393 thousand restricted share units (at a weighted average grant date fair value of $24.86 per share) during the six months ended June 30, 2019.

The following table summarizes the activity related to our restricted shares and restricted share units:



	Number of restricted shares and restricted share units

Outstanding as of December 31, 2018	485,806
Granted	392,579
Issued	(96,432	)
Forfeited/canceled	(85,793	)

Outstanding as of June 30, 2019	696,160

REVENUE

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

REVENUE

We classify revenue in three categories: service revenue, revenue from reimbursable expenses and non-controlling interests. Service revenue consists of amounts attributable to our fee-based services and sales of short-term investments in real estate. Reimbursable expenses and non-controlling interests are pass-through items for which we earn no margin. Reimbursable expenses consist of amounts we incur on behalf of our customers in performing our fee-based services that we pass directly on to our customers without a markup. Non-controlling interests represent the earnings of Lenders One, a consolidated entity that is a mortgage cooperative managed, but not owned, by Altisource. Lenders One is included in revenue and reduced from net income to arrive at net income attributable to Altisource (see Note 1). Our services are primarily provided to customers located in the United States. The components of revenue were as follows:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2019		2018		2019		2018

Service revenue	$	190,520	$	208,861	$	355,519	$	397,627
Reimbursable expenses	4,775		9,008		9,271		17,155
Non-controlling interests	1,240		687		1,680		1,212

Total	$	196,535	$	218,556	$	366,470	$	415,994

Disaggregation of Revenue

Disaggregation of total revenues by major source is as follows:



(in thousands)	Revenue recognized when services are performed or assets are sold		Revenue related to technology platforms and professional services		Reimbursable expenses revenue		Total revenue

Three months ended June 30, 2019	$	178,949	$	12,811	$	4,775	$	196,535
Three months ended June 30, 2018	187,206		22,342		9,008		218,556

Six months ended June 30, 2019	326,704		30,495		9,271		366,470
Six months ended June 30, 2018	354,162		44,677		17,155		415,994

Contract Balances

Our contract assets consist of unbilled accounts receivable (see Note 5). Our contract liabilities consist of current deferred revenue as reported on the accompanying condensed consolidated balance sheets and non-current deferred revenue (see Note 13). Revenue recognized that was included in the contract liability at the beginning of the period, including amounts added to the contract liability as part of the cumulative effect of adopting Topic 606, was $8.6 million and $11.3 million for the six months ended June 30, 2019 and 2018, respectively ($3.7 million and $5.4 million for the second quarter of 2019 and 2018, respectively).

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

6 Months Ended

Jun. 30, 2019

Selling, General and Administrative Expense [Abstract]

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

Selling, general and administrative expenses include payroll and employee benefits associated with personnel employed in executive, finance, law, compliance, human resources, vendor management, facilities, risk management, sales and marketing roles. This category also includes professional services fees, occupancy costs, marketing costs, depreciation and amortization of non-operating assets and other expenses. The components of selling, general and administrative expenses were as follows:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2019		2018		2019		2018

Compensation and benefits	$	15,238	$	12,197	$	26,591	$	25,766
Amortization of intangible assets	3,544		7,544		12,191		14,691
Occupancy related costs	3,871		7,189		7,779		15,623
Marketing costs	2,989		3,978		5,921		7,585
Professional services	3,320		4,328		8,796		7,554
Depreciation and amortization	4,067		1,950		8,380		4,218
Other	2,822		5,738		7,433		10,611

Total	$	35,851	$	42,924	$	77,091	$	86,048

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We recognized an income tax (provision) benefit of $(15.3) million and $0.5 million for the six months ended June 30, 2019 and 2018, respectively ($(16.5) million and $(0.8) million the second quarter of 2019 and 2018, respectively). The effective income tax rate increased to 192.5% for the six months ended June 30, 2019 from 28.9% for the six months ended June 30, 2018 (increased to 138.7% for the second quarter of 2019 from 26.6% for the second quarter of 2018). The increases in the income tax provision for the six months ended June 30, 2019 and second quarter of 2019 were primarily from a $12.3 million reduction in Luxembourg deferred tax assets in connection with a decrease in the Luxembourg statutory income tax rate from 26.0% to 24.9% in the second quarter of 2019 and a $0.9 million increase in foreign income taxes in connection with an internal legal entity reorganization in advance of the sale of the Financial Services Business (see Note 3). Excluding these two items, the effective tax rate would have been 25.9% for the six months ended June 30, 2019 and 27.6% for the second quarter of 2019.

EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of all dilutive securities using the treasury stock method.

Basic and diluted EPS are calculated as follows:



	Three months ended June 30,					Six months ended June 30,
(in thousands, except per share data)	2019			2018		2019			2018

Net (loss) income attributable to Altisource	$	(5,844	)	$	1,568	$	(9,028	)	$	(2,564	)

Weighted average common shares outstanding, basic	16,214			17,142		16,253			17,260
Dilutive effect of stock options, restricted shares and restricted share units	—			411		—			—

Weighted average common shares outstanding, diluted	16,214			17,553		16,253			17,260

(Loss) earnings per share:
Basic	$	(0.36	)	$	0.09	$	(0.56	)	$	(0.15	)
Diluted	$	(0.36	)	$	0.09	$	(0.56	)	$	(0.15	)

For the six months ended June 30, 2019 and 2018, 1.5 million and 1.3 million, respectively (1.5 million and 0.8 million for the second quarter of 2019 and 2018, respectively), stock options, restricted shares and restricted share units were excluded from the computation of EPS, as a result of the following:


•	For the six months ended June 30, 2019 and 2018, 0.4 million and 0.3 million, respectively (0.5 million and 0.3 million for the second quarter of 2019 and 2018, respectively), stock options were anti-dilutive and have been excluded from the computation of diluted EPS because their exercise price was greater than the average market price of our common stock

•

For the six months ended June 30, 2019 and 2018, 0.8 million and 0.5 million, respectively (0.8 million and 0.5 million for the second quarter of 2019 and 2018, respectively), stock options, restricted shares and restricted share units, which begin to vest upon the achievement of certain market criteria related to our common stock price, performance criteria and an annualized rate of return to shareholders that have not yet been met, and have been excluded from the computation of diluted EPS


•	As a result of the net loss attributable to Altisource for the six months ended June 30, 2019 and 2018, 0.3 million and 0.5 million, respectively (0.3 million for the second quarter of 2019), stock options, restricted shares and restricted share units were excluded from the computation of diluted EPS, as their impacts were anti-dilutive

RESTRUCTURING CHARGES	6 Months Ended
RESTRUCTURING CHARGES	Jun. 30, 2019
Restructuring Charges [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES In August 2018, Altisource initiated Project Catalyst, a project intended to optimize our operations and reduce costs to better align our cost structure with our anticipated revenues and improve our operating margins. During the three and six months ended June 30, 2019, we incurred $1.9 million and $6.3 million, respectively, of severance costs, professional services fees and technology costs related to the reorganization plan (no comparative amounts for the three and six months ended June 30, 2018). We expect to incur additional severance costs, professional services fees, technology costs and facility consolidation costs in connection with this internal reorganization, automation and other technology related activities and will expense those costs as incurred. Based on our analysis, we currently anticipate the future costs relating to Project Catalyst to be in the range of approximately $12 million to $15 million.

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS

We record a liability for contingencies if an unfavorable outcome is probable and the amount of loss can be reasonably estimated, including expected insurance coverage. For proceedings where the reasonable estimate of loss is a range, we record a best estimate of loss within the range.

Litigation

We are currently involved in legal actions in the course of our business, some of which seek monetary damages. We do not believe that the outcome of these proceedings, both individually and in the aggregate, will have a material impact on our financial condition, results of operations or cash flows.

Regulatory Matters

Periodically, we are subject to audits, examinations and investigations by federal, state and local governmental authorities and receive subpoenas, civil investigative demands or other requests for information from such governmental authorities in connection with their regulatory or investigative authority. We are currently responding to such inquiries from governmental authorities relating to certain aspects of our business. We believe it is premature to predict the potential outcome or to estimate any potential financial impact in connection with these inquiries.

Sales Taxes

On June 21, 2018, the United States Supreme Court rendered a 5-4 majority decision in South Dakota v. Wayfair, Inc., holding that a state may require a remote seller with no physical presence in the state to collect and remit sales tax on goods and services provided to purchasers in the state, overturning certain existing court precedent. During the six months ended June 30, 2019, the Company completed the analysis of its services for potential exposure to sales tax in various jurisdictions in the United States. The Company recognized a $2.1 million loss for the six months ended June 30, 2019 (no comparative amounts for the six months ended June 30, 2018 and the second quarters of 2019 and 2018) in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income (loss). The Company began invoicing, collecting and remitting sales tax in applicable jurisdictions in 2019. The Company is also in the process of seeking reimbursement for sales tax payments from clients; however, there can be no assurance that the Company will be successful in collecting some or all of such reimbursements. Future changes in our estimated sales tax exposure could result in a material adjustment to our condensed consolidated financial statements, which would impact our financial condition and results of operations.

Ocwen Related Matters

As discussed in Note 2, during the three and six months ended June 30, 2019, Ocwen was our largest customer, accounting for 51% of our total revenue (44% of our revenue for the second quarter of 2019). Additionally, 6% of our revenue for the six months ended June 30, 2019 (5% of our revenue for the second quarter of 2019) was earned on the loan portfolios serviced by Ocwen, when a party other than Ocwen or the MSR owner selected Altisource as the service provider.

Ocwen has disclosed that it is subject to a number of ongoing federal and state regulatory examinations, cease and desist orders, consent orders, inquiries, subpoenas, civil investigative demands, requests for information and other actions and is subject to pending legal proceedings, some of which include claims against Ocwen for substantial monetary damages (collectively, “Ocwen Regulatory Matters”). For example, on May 15, 2017, Ocwen disclosed that on April 20, 2017, the Consumer Financial Protection Bureau and the State of Florida filed separate complaints in the United States District Court for the Southern District of Florida against Ocwen alleging violations of Federal consumer financial law and, in the case of Florida, Florida statutes. Ocwen disclosed that the complaints seek to obtain permanent injunctive relief, consumer redress, refunds, restitution, disgorgement, damages, civil penalties, costs and fees and other relief. The foregoing or other matters could result in, and in some cases, have resulted in, adverse regulatory or other actions against Ocwen. Previous regulatory actions against Ocwen resulted in subjecting Ocwen to independent oversight of its operations and placing certain restrictions on its ability to acquire servicing rights.

In addition to the above, Ocwen may become subject to future federal and state regulatory investigations, cease and desist orders, consent orders, inquiries, subpoenas, civil investigative demands, requests for information, other matters or legal proceedings, any of which could also result in adverse regulatory or other actions against Ocwen.

Ocwen has disclosed that NRZ is its largest client. As of March 31, 2019, NRZ owned MSRs or rights to MSRs relating to approximately 50% of loans serviced and subserviced by Ocwen (measured in UPB). In July 2017 and January 2018, Ocwen and NRZ entered into a series of agreements pursuant to which the parties agreed, among other things, to undertake certain actions to facilitate the transfer from Ocwen to NRZ of Ocwen’s legal title to the Subject MSRs and under which Ocwen will subservice mortgage loans underlying the Subject MSRs for an initial term of five years. NRZ can terminate its sub-servicing agreement with Ocwen in exchange for the payment of a termination fee.

The existence or outcome of the Ocwen Regulatory Matters or the termination of the NRZ sub-servicing agreement with Ocwen may have significant adverse effects on Ocwen’s business and/or our continuing relationship with Ocwen. For example, Ocwen may be required to alter the way it conducts business, including the parties it contracts with for services, it may be required to seek changes to its existing pricing structure with us, it may lose its non-government-sponsored enterprise (“GSE”) servicing rights or subservicing arrangements or may lose one or more of its state servicing or origination licenses. Additional regulatory actions or adverse financial developments may impose additional restrictions on or require changes in Ocwen’s business that could require it to sell assets or change its business operations. Any or all of these effects and others could result in our eventual loss of Ocwen as a customer or a reduction in the number and/or volume of services they purchase from us or the loss of other customers.

If any of the following events occurred, Altisource’s revenue could be significantly lower and our results of operations could be materially adversely affected, including from the possible impairment or write-off of goodwill, intangible assets, property and equipment, other assets and accounts receivable:


•	Altisource loses Ocwen as a customer or there is a significant reduction in the volume of services they purchase from us


•	Ocwen loses, sells or transfers a significant portion or all of its remaining non-GSE servicing rights or subservicing arrangements and Altisource fails to be retained as a service provider


•	Ocwen loses state servicing licenses in states with a significant number of loans in Ocwen’s servicing portfolio


•	The contractual relationship between Ocwen and Altisource changes significantly or there are significant changes to our pricing to Ocwen for services from which we generate material revenue


•	Altisource otherwise fails to be retained as a service provider

Management cannot predict whether any of these events will occur or the amount of any impact they may have on Altisource. However, in the event one or more of these events materially negatively impact Altisource, we believe the variable nature of our cost structure would allow us to realign our cost structure in line with remaining revenue. Furthermore, in the event of a significant reduction in the volume of services purchased or loan portfolios serviced by Ocwen (such as a transfer of Ocwen’s remaining servicing rights to a successor servicer), we believe the impact to Altisource could occur over an extended period of time. During this period, we believe that we will continue to generate revenue from all or a portion of Ocwen’s loan portfolios.

We are focused on diversifying and growing our revenue and customer base and we have a sales and marketing strategy to support our businesses. Management believes our plans, together with current liquidity and cash flows from operations, would be sufficient to meet our working capital, capital expenditures, debt service and other cash needs. However, there can be no assurance that our plans will be successful or our operations will be profitable.

Leases

We lease certain premises and equipment, primarily consisting of office space and information technology equipment. Effective January 1, 2019, we adopted the provisions of Topic 842, resulting in recognition of $42.1 million of right-to-use assets in premises and equipment, net and $45.5 million of lease obligation liabilities (see Note 1). Certain of our leases include options to renew at our discretion or terminate leases early, and these options are considered in our determination of the expected lease term. Certain of our lease agreements include rental payments adjusted periodically for inflation. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. We sublease certain office space to third parties. Sublease income was $0.8 million and $0.9 million for the six months ended June 30, 2019 and 2018, respectively ($0.5 million and $0.4 million for the second quarter of 2019 and 2018, respectively). The depreciable lives of right-to-use assets are generally limited by the expected lease term. Our leases generally have expected lease terms at adoption of one to six years.

Information about our lease terms and our discount rate assumption is as follows:



	As of June 30, 2019

Weighted average remaining lease term (in years)	3.52
Weighted average discount rate	7.08	%

Our lease activity during the period is as follows:



(in thousands)	Three months ended June 30, 2019		Six months ended June 30, 2019

Operating lease costs:
Selling, general and administrative expense	$	2,385	$	5,265
Cost of revenue	670		1,528

Cash used in operating activities for amounts included in the measurement of lease liabilities	3,720		8,457
Short-term (less than one year) lease costs	1,152		2,309

Maturities of our lease liabilities as of June 30, 2019 are as follows:



(in thousands)	Operating lease liabilities

2019	$	6,933
2020	11,589
2021	7,863
2022	4,762
2023	3,339
Thereafter	1,338
Total lease payments	35,824
Less interest	(4,219		)

Present value of lease liabilities	$	31,605

Escrow and Trust Balances

We hold customers’ assets in escrow and trust accounts at various financial institutions pending completion of certain real estate activities. We also hold cash in trust accounts at various financial institutions where contractual obligations mandate maintaining dedicated bank accounts for our asset recovery management business’s collections. These amounts are held in escrow and trust accounts for limited periods of time and are not included in the accompanying condensed consolidated balance sheets. Amounts held in escrow and trust accounts were $21.6 million and $23.6 million as of June 30, 2019 and December 31, 2018, respectively.

SUBSEQUENT EVENT	6 Months Ended
SUBSEQUENT EVENT	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT Sale of Financial Services Business On July 1, 2019, the Company closed the sale of the Financial Services Business to TSI for an aggregate purchase price of $44.0 million. At closing, Altisource received a $40.0 million up-front payment less adjustments for working capital and transaction costs. Pursuant to the terms of the sale agreement, Altisource will receive an additional $4.0 million payment on the one-year anniversary of the closing. In connection with the transaction, the parties have entered into a transition services agreement to provide for the management and orderly transition of certain services and technologies to TSI for periods ranging from 2 months to 13 months. On July 17, 2019, Altisource used $37.0 million of the net up-front payment to repay a portion of its senior secured term loan.

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	6 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION (Policies)	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting and Presentation	Basis of Accounting and Presentation The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, these financial statements do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, the interim data includes all normal recurring adjustments considered necessary to fairly state the results for the interim periods presented. The preparation of interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our interim condensed consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Intercompany transactions and accounts have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to the current year presentation. Effective January 1, 2019, the Company reorganized its internal reporting structure in connection with Project Catalyst, a project initiated in August 2018 to optimize our operations and reduce costs to better align our cost structure with our anticipated revenues and improve our operating margins (see Note 22). The internal reorganization included, among other changes, the replacement of segment presidents with a chief operating officer, who is responsible for products, services and operations for the Company’s Mortgage Market and Real Estate Market businesses, reporting to our Chairman and Chief Executive Officer (our chief operating decision maker) who manages our businesses, regularly reviews operating results and profitability, allocates resources and evaluates performance on a consolidated basis. Prior to January 1, 2019, the Company reported our operations through two reportable segments: Mortgage Market and Real Estate Market. In addition, we reported Other Businesses, Corporate and Eliminations separately. The prior year presentation has been reclassified to conform to the current year presentation. Altisource consolidates Best Partners Mortgage Cooperative, Inc., which is managed by The Mortgage Partnership of America, L.L.C. (“MPA”), a wholly-owned subsidiary of Altisource. Best Partners Mortgage Cooperative, Inc. is a mortgage cooperative doing business as Lenders One^® (“Lenders One”). MPA provides services to Lenders One under a management agreement that ends on December 31, 2025 (with renewals for three successive five-year periods at MPA’s option). The management agreement between MPA and Lenders One, pursuant to which MPA is the management company, represents a variable interest in a variable interest entity. MPA is the primary beneficiary of Lenders One as it has the power to direct the activities that most significantly impact the cooperative’s economic performance and the right to receive benefits from the cooperative. As a result, Lenders One is presented in the accompanying condensed consolidated financial statements on a consolidated basis and the interests of the members are reflected as non-controlling interests.
Fair Value Measurements	Fair Value Measurements Fair value is defined as an exit price, representing the amount that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assets and liabilities, is as follows: Level 1 — Quoted prices in active markets for identical assets and liabilities Level 2 — Observable inputs other than quoted prices included in Level 1 Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of assets or liabilities. Financial assets and financial liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Our assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy.
Recently Adopted and Future Adoption of New Accounting Pronouncements	Recently Adopted Accounting Pronouncement In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) and in July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (collectively “Topic 842”). Topic 842 introduces a new lessee model that brings substantially all leases on the balance sheet. This standard requires lessees to recognize lease assets and lease liabilities on their balance sheets and disclose key information about leasing arrangements in their financial statements. The Company adopted Topic 842 effective January 1, 2019 using the modified retrospective transition approach. In addition, the Company elected the practical expedients permitted under the transition guidance within the new standard, including allowing the Company to carry forward its historical lease classification, using hindsight to determine the lease term for existing leases, combining fixed lease and non-lease components and excluding short-term leases. Adoption of this new standard resulted in the recognition of $42.1 million of right-to-use assets in premises and equipment, net, $45.5 million of lease obligation liabilities ($16.7 million in other current liabilities and $28.8 million in other non-current liabilities) and reduced accrued rent and lease incentives of $3.4 million in accounts payable and accrued expenses and other non-current liabilities on the accompanying condensed consolidated balance sheets. Future Adoption of New Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This standard will simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Current guidance requires that companies compute the implied fair value of goodwill under Step 2 by performing procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. This standard will require companies to perform annual or interim goodwill impairment tests by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This standard will be effective for annual periods beginning after December 15, 2019, including interim periods within that reporting period, and will be applied prospectively. Early adoption of this standard is permitted. The Company is currently evaluating the impact this guidance may have on its condensed consolidated financial statements; however, adoption of this standard as of June 30, 2019 would not have had any impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This standard modifies certain disclosure requirements such as the valuation processes for Level 3 fair value measurements. This standard also requires new disclosures such as the disclosure of certain assumptions used to develop significant unobservable inputs for Level 3 fair value measurements. This standard will be effective for annual periods beginning after December 15, 2019, including interim periods within that reporting period. Early adoption of either the entire standard or only the provisions that eliminate or modify requirements is permitted. The Company currently does not expect the adoption of this guidance to have an impact on its condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force). This standard aligns the requirements for capitalizing implementation costs in a hosting arrangement service contract with the existing guidance for capitalizing implementation costs incurred for an internal-use software license. This standard also requires capitalizing or expensing implementation costs based on the nature of the costs and the project stage during which they are incurred and establishes additional disclosure requirements. This standard will be effective for annual periods beginning after December 15, 2019, including interim periods within that reporting period. Early adoption of this standard is permitted. The Company currently plans to adopt the standard prospectively and is currently evaluating the impact this guidance may have on its condensed consolidated financial statements.

SALE OF BUSINESS AND ASSETS AND LIABILITIES HELD FOR SALE (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disclosure of assets and liabilities held-for-sale



(in thousands)	June 30, 2019

Accounts receivable, net	$	7,404
Prepaid expenses and other current assets	1,581
Premises and equipment, net	12,506
Goodwill	2,378
Intangible assets, net	10,846
Other assets	941

Total assets held for sale	$	35,656

Accounts payable and accrued expenses	$	4,792
Other current liabilities	2,632
Other non-current liabilities	7,426

Total liabilities held for sale	$	14,850

PREMISES AND EQUIPMENT, NET (Tables)

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Schedule of premises and equipment, net

Premises and equipment, net consists of the following:



(in thousands)	June 30, 2019			December 31, 2018

Computer hardware and software	$	169,684		$	182,215
Office equipment and other	4,006			7,384
Furniture and fixtures	9,710			13,313
Leasehold improvements	24,178			29,781
	207,578			232,693
Less: Accumulated depreciation and amortization	(175,861		)	(187,062		)
Net	31,717			45,631

Right-to-use assets under operating leases	34,503			—
Less: Accumulated depreciation and amortization	(6,240		)	—
Net right-to-use assets	28,263			—

Total premises and equipment, net	$	59,980		$	45,631

Schedule of premises and equipment, net by country

Premises and equipment, net consist of the following, by country:



(in thousands)	June 30, 2019		December 31, 2018

United States	$	27,879	$	25,693
India	16,269		3,154
Luxembourg	14,503		14,975
Philippines	1,094		1,754
Other	235		55

Total	$	59,980	$	45,631

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in goodwill

The change in goodwill during the six months ended June 30, 2019 is as follows:



(in thousands)	Total

Balance as of December 31, 2018	$	81,387
Reclassification to assets held for sale (Note 3)	(2,378		)

Balance as of June 30, 2019	$	79,009

Schedule of intangible assets, net

Intangible assets, net consist of the following:



	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization						Net book value
(in thousands)	Weighted average estimated useful life (in years)	June 30, 2019		December 31, 2018		June 30, 2019			December 31, 2018			June 30, 2019		December 31, 2018

Definite lived intangible assets:
Customer related intangible assets	9	$	214,973	$	273,172	$	(170,756	)	$	(207,639	)	$	44,217	$	65,533
Operating agreement	20	35,000		35,000		(16,501		)	(15,632		)	18,499		19,368
Trademarks and trade names	15	11,140		11,349		(6,342		)	(6,244		)	4,798		5,105
Non-compete agreements	4	1,230		1,230		(1,180		)	(1,026		)	50		204
Intellectual property	10	300		300		(160		)	(145		)	140		155
Other intangible assets	5	3,745		3,745		(2,833		)	(2,457		)	912		1,288

Total		$	266,388	$	324,796	$	(197,772	)	$	(233,143	)	$	68,616	$	91,653

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2019

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following:



(in thousands)	June 30, 2019		December 31, 2018

Accounts payable	$	24,819	$	27,853
Accrued expenses - general	20,856		27,866
Accrued salaries and benefits	18,116		31,356
Income taxes payable	—		165

Total	$	63,791	$	87,240

Schedule of other current liabilities

Other current liabilities consist of the following:



(in thousands)	June 30, 2019		December 31, 2018

Unfunded cash account balances	$	6,060	$	4,932
Lease obligation liabilities	12,255		—
Other	2,095		2,098

Total	$	20,410	$	7,030

LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consists of the following:



(in thousands)	June 30, 2019			December 31, 2018

Senior secured term loans	$	333,012		$	338,822
Less: Debt issuance costs, net	(3,492		)	(3,855		)
Less: Unamortized discount, net	(3,164		)	(3,491		)
Net long-term debt	326,356			331,476
Less: Current portion	(6,502		)	—

Long-term debt, less current portion	$	319,854		$	331,476

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair value measurements, recurring and nonrecurring

The following fair values are estimated using market information and what the Company believes to be appropriate valuation methodologies under GAAP:



	June 30, 2019								December 31, 2018
(in thousands)	Carrying amount		Fair value						Carrying amount		Fair value
			Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	85,379	$	85,379	$	—	$	—	$	58,294	$	58,294	$	—	$	—
Restricted cash	3,741		3,741		—		—		5,752		5,752		—		—
Investment in equity securities	43,730		43,730		—		—		36,181		36,181		—		—
Long-term receivable (Note 3)	2,295		—		—		2,295		2,221		—		—		2,221

Liabilities:
Senior secured term loan	333,012		—		328,433		—		338,822		—		330,351		—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of assumptions used to determine the fair value of options as of the grant date

The following assumptions were used to determine the fair values as of the grant date:



	Six months ended June 30, 2018
	Black-Scholes	Binomial

Risk-free interest rate (%)	2.66 – 2.98	1.64 – 2.83
Expected stock price volatility (%)	70.31 – 71.86	71.81 – 71.86
Expected dividend yield	—	—
Expected option life (in years)	6.00 – 6.25	2.56 – 4.32
Fair value	$16.17 – $19.06	$14.67 – $18.28

Summary of the weighted average fair value of stock options granted, the total intrinsic value of stock options exercised and the fair value of options vested



	Six months ended June 30,
(in thousands, except per share amounts)	2019		2018

Weighted average grant date fair value of stock options granted per share	$	—	$	16.27
Intrinsic value of options exercised	34		4,393
Grant date fair value of stock options that vested	2,752		1,334

Summary of the activity of the entity's stock options

The following table summarizes the activity related to our stock options:



	Number of options		Weighted average exercise price		Weighted average contractual term (in years)	Aggregate intrinsic value (in thousands)

Outstanding as of December 31, 2018	1,440,566		$	30.78	5.04	$	945
Performance criteria achieved	227,849		24.98
Exercised	(12,500	)	18.79
Forfeited	(93,210	)	46.27

Outstanding as of June 30, 2019	1,562,705		29.11		4.93	172

Exercisable as of June 30, 2019	990,130		26.51		3.30	166

Restricted stock and restricted stock units activity

The following table summarizes the activity related to our restricted shares and restricted share units:



	Number of restricted shares and restricted share units

Outstanding as of December 31, 2018	485,806
Granted	392,579
Issued	(96,432	)
Forfeited/canceled	(85,793	)

Outstanding as of June 30, 2019	696,160

REVENUE (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Schedule of revenue

The components of revenue were as follows:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2019		2018		2019		2018

Service revenue	$	190,520	$	208,861	$	355,519	$	397,627
Reimbursable expenses	4,775		9,008		9,271		17,155
Non-controlling interests	1,240		687		1,680		1,212

Total	$	196,535	$	218,556	$	366,470	$	415,994

Disaggregation of revenue

Disaggregation of total revenues by major source is as follows:



(in thousands)	Revenue recognized when services are performed or assets are sold		Revenue related to technology platforms and professional services		Reimbursable expenses revenue		Total revenue

Three months ended June 30, 2019	$	178,949	$	12,811	$	4,775	$	196,535
Three months ended June 30, 2018	187,206		22,342		9,008		218,556

Six months ended June 30, 2019	326,704		30,495		9,271		366,470
Six months ended June 30, 2018	354,162		44,677		17,155		415,994

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Tables)

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Lease term and assumption

Information about our lease terms and our discount rate assumption is as follows:



	As of June 30, 2019

Weighted average remaining lease term (in years)	3.52
Weighted average discount rate	7.08	%

Lease activity during period

Our lease activity during the period is as follows:



(in thousands)	Three months ended June 30, 2019		Six months ended June 30, 2019

Operating lease costs:
Selling, general and administrative expense	$	2,385	$	5,265
Cost of revenue	670		1,528

Cash used in operating activities for amounts included in the measurement of lease liabilities	3,720		8,457
Short-term (less than one year) lease costs	1,152		2,309

Maturities of operating lease liabilities

Maturities of our lease liabilities as of June 30, 2019 are as follows:



(in thousands)	Operating lease liabilities

2019	$	6,933
2020	11,589
2021	7,863
2022	4,762
2023	3,339
Thereafter	1,338
Total lease payments	35,824
Less interest	(4,219		)

Present value of lease liabilities	$	31,605

ORGANIZATION AND BASIS OF PRESENTATION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) segment	Jun. 30, 2019 USD ($)	Jan. 01, 2019 USD ($)
Summary of significant accounting policies
Number of reporting segments \| segment	2
Lease obligation liabilities			$ 45,500
Lease obligation liabilities, other current	$ 0	$ 12,255	16,700
Lease obligation liabilities, other noncurrent	0	19,350	28,800
Right-to-use assets			42,100
Reduction accrued rent and lease incentives, effect of adopting accounting standard			$ 3,400
Lenders One
Summary of significant accounting policies
Total assets	2,700	3,200
Total liabilities	$ 1,300	$ 1,600

CUSTOMER CONCENTRATION (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
CUSTOMER CONCENTRATION (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Concentration Risk
Revenue		$ 196,535		$ 218,556	$ 366,470	$ 415,994
Service revenue
Concentration Risk
Revenue		190,520		$ 208,861	$ 355,519	$ 397,627
Ocwen \| NRZ
Concentration Risk
Subservice transferred subject MSRs, initial term	5 years				5 years
Customer Concentration Risk \| Ocwen
Concentration Risk
Accounts receivable		28,100			$ 28,100		$ 15,200
Customer Concentration Risk \| Ocwen \| Billed
Concentration Risk
Accounts receivable		24,100			24,100		11,600
Customer Concentration Risk \| Ocwen \| Unbilled
Concentration Risk
Accounts receivable		$ 4,000			$ 4,000		$ 3,600
Customer Concentration Risk \| Ocwen \| Revenue
Concentration Risk
Percentage of revenue from largest customer		44.00%		50.00%	51.00%	51.00%
Revenue		$ 87,000		$ 108,800	$ 185,200	$ 210,800
Customer Concentration Risk \| Ocwen \| Revenue \| NRZ
Concentration Risk
Percentage of loans serviced and subserviced by largest customer's largest client			50.00%
Customer Concentration Risk \| Highly Correlated - Ocwen \| Revenue
Concentration Risk
Percentage of revenue from largest customer		5.00%			6.00%
Revenue		$ 9,200		11,000	$ 20,300	26,200
Customer Concentration Risk \| NRZ \| Revenue
Concentration Risk
Revenue		3,000		8,900	7,000	19,200
Customer Concentration Risk \| Highly Correlated - NRZ \| Revenue
Concentration Risk
Revenue		16,400		26,700	34,100	42,800
REAL Servicing \| Ocwen \| Service revenue
Concentration Risk
Revenue		$ 3,100		$ 7,900	$ 11,300	$ 17,500

SALE OF BUSINESS AND ASSETS AND LIABILITIES HELD FOR SALE (Details) - USD ($) $ in Thousands			6 Months Ended
	Jul. 01, 2019	Aug. 08, 2018	Jun. 30, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Long-term receivable (discounted value)			$ 2,295	$ 2,221
Rental Property Management Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds from the sale of business		$ 18,000
Proceeds from the sale of business, first installment		$ 15,000
Future proceeds from the sale of business, second installment			$ 3,000
Financial Services Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds from the sale of business	$ 44,000
Additional payment to be received on one-year anniversary of the sale closing	4,000
Subsequent Event \| Financial Services Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Up-front payment included in consideration, subject to working capital adjustment upon closing of the sale	$ 40,000
Minimum \| Financial Services Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services agreement term	2 months
Maximum \| Financial Services Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services agreement term	1 year 30 days

SALE OF BUSINESS AND ASSETS AND LIABILITIES HELD FOR SALE - Assets and Liabilities Held-for-sale (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets held for sale	$ 35,656	$ 0
Total liabilities held for sale	14,850	$ 0
Financial Services Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	7,404
Prepaid expenses and other current assets	1,581
Premises and equipment, net	12,506
Goodwill	2,378
Intangible assets, net	10,846
Other assets	941
Total assets held for sale	35,656
Accounts payable and accrued expenses	4,792
Other current liabilities	2,632
Other non-current liabilities	7,426
Total liabilities held for sale	$ 14,850

INVESTMENT IN EQUITY SECURITIES (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2016	Dec. 31, 2018
Marketable Securities [Line Items]
Investment in equity securities	$ 43,730		$ 43,730			$ 36,181
Unrealized gain (loss) from change in fair value	11,787	$ 1,533	14,025	$ (5,968)
Unrealized gain (loss) from sale	1,200		1,500
Investment income, dividend	$ 500	$ 600	$ 1,200
Maximum allowable increase, percent			50.00%
Number of shares disposed (in shares)	0.6		0.6
Proceeds received from sale of equity securities	$ 6,500		$ 6,476	$ 0
Maximum
Marketable Securities [Line Items]
Investment shares, transfer restrictions, percent (no more than)			25.00%
RESI
Marketable Securities [Line Items]
Number of investment shares acquired (in shares)					4.1
Number of securities outstanding (in shares)	3.6		3.6			4.1

ACCOUNTS RECEIVABLE, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accounts receivable, net
Accounts receivable, gross	$ 53,512	$ 47,349
Less: Allowance for doubtful accounts	(9,265)	(10,883)
Total	44,247	36,466
Billed
Accounts receivable, net
Accounts receivable, gross	39,130	35,590
Unbilled
Accounts receivable, net
Accounts receivable, gross	$ 14,382	$ 11,759

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Maintenance agreements, current portion	$ 2,435	$ 5,600
Income taxes receivable	8,229	7,940
Prepaid expenses	4,767	7,484
Other current assets	8,202	9,696
Total	$ 23,633	$ 30,720

DISCONTINUATION OF THE BUY-RENOVATE-LEASE-SELL BUSINESS (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Jun. 28, 2019	Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Instrument [Line Items]
Repayment of debt			$ 5,810	$ 421,821
Buy-Renovate-Lease-Sell Business \| Real Estate Market \| Term B Loans
Debt Instrument [Line Items]
Repayment of debt		$ 49,900
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Buy-Renovate-Lease-Sell Business
Debt Instrument [Line Items]
Inventory disposed	$ 38,900
Loss on inventory disposed	1,800
Disposal Group, Held-for-sale, Not Discontinued Operations \| Buy-Renovate-Lease-Sell Business
Debt Instrument [Line Items]
Inventory disposed	$ 400

PREMISES AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 207,578		$ 207,578		$ 232,693
Total premises and equipment, net	59,980		59,980		45,631
Depreciation and amortization expense	7,900	$ 8,300	17,315	$ 17,049
Computer hardware and software
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	169,684		169,684		182,215
Office equipment and other
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	4,006		4,006		7,384
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	9,710		9,710		13,313
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	24,178		24,178		29,781
Excluding Right-to-use Assets
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation and amortization	(175,861)		(175,861)		(187,062)
Total premises and equipment, net	31,717		31,717		45,631
Right-to-use Assets
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	34,503		34,503		0
Less: Accumulated depreciation and amortization	(6,240)		(6,240)		0
Total premises and equipment, net	$ 28,263		$ 28,263		$ 0

PREMISES AND EQUIPMENT, NET - Summary by Country (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total	$ 59,980	$ 45,631
United States
Property, Plant and Equipment [Line Items]
Total	27,879	25,693
India
Property, Plant and Equipment [Line Items]
Total	16,269	3,154
Luxembourg
Property, Plant and Equipment [Line Items]
Total	14,503	14,975
Philippines
Property, Plant and Equipment [Line Items]
Total	1,094	1,754
Other
Property, Plant and Equipment [Line Items]
Total	$ 235	$ 55

GOODWILL AND INTANGIBLE ASSETS, NET - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 81,387
Reclassification to assets held for sale (Note 3)	(2,378)
Ending Balance	$ 79,009

GOODWILL AND INTANGIBLE ASSETS, NET - Intangible assets, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Intangible Assets, Net
Gross carrying amount	$ 266,388		$ 266,388		$ 324,796
Accumulated amortization	(197,772)		(197,772)		(233,143)
Net book value	68,616		68,616		91,653
Amortization expense for definite lived intangible assets	3,544	$ 7,544	12,191	$ 14,691
2019	19,400		19,400
2020	13,300		13,300
2021	10,800		10,800
2022	5,300		5,300
2023	5,300		5,300
Customer related intangible assets
Intangible Assets, Net
Gross carrying amount	214,973		214,973		273,172
Accumulated amortization	(170,756)		(170,756)		(207,639)
Net book value	44,217		44,217		65,533
Operating agreement
Intangible Assets, Net
Gross carrying amount	35,000		35,000		35,000
Accumulated amortization	(16,501)		(16,501)		(15,632)
Net book value	18,499		18,499		19,368
Trademarks and trade names
Intangible Assets, Net
Gross carrying amount	11,140		11,140		11,349
Accumulated amortization	(6,342)		(6,342)		(6,244)
Net book value	4,798		4,798		5,105
Non-compete agreements
Intangible Assets, Net
Gross carrying amount	1,230		1,230		1,230
Accumulated amortization	(1,180)		(1,180)		(1,026)
Net book value	50		50		204
Intellectual property
Intangible Assets, Net
Gross carrying amount	300		300		300
Accumulated amortization	(160)		(160)		(145)
Net book value	140		140		155
Other intangible assets
Intangible Assets, Net
Gross carrying amount	3,745		3,745		3,745
Accumulated amortization	(2,833)		(2,833)		(2,457)
Net book value	$ 912		$ 912		$ 1,288
Weighted Average \| Customer related intangible assets
Intangible Assets, Net
Weighted average estimated useful life (in years)			9 years
Weighted Average \| Operating agreement
Intangible Assets, Net
Weighted average estimated useful life (in years)			20 years
Weighted Average \| Trademarks and trade names
Intangible Assets, Net
Weighted average estimated useful life (in years)			15 years
Weighted Average \| Non-compete agreements
Intangible Assets, Net
Weighted average estimated useful life (in years)			4 years
Weighted Average \| Intellectual property
Intangible Assets, Net
Weighted average estimated useful life (in years)			10 years
Weighted Average \| Other intangible assets
Intangible Assets, Net
Weighted average estimated useful life (in years)			5 years

OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Security deposits	$ 3,779	$ 3,972
Restricted cash	3,741	5,752
Other	2,400	2,682
Total	$ 9,920	$ 12,406

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Accounts payable	$ 24,819	$ 27,853
Accrued expenses - general	20,856	27,866
Accrued salaries and benefits	18,116	31,356
Income taxes payable	0	165
Total	$ 63,791	$ 87,240

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Other current liabilities
Unfunded cash account balances	$ 6,060		$ 4,932
Lease obligation liabilities	12,255	$ 16,700	0
Other	2,095		2,098
Total	$ 20,410		$ 7,030

LONG-TERM DEBT (Details)			3 Months Ended	6 Months Ended
LONG-TERM DEBT (Details)	Jul. 17, 2019 USD ($)	Apr. 03, 2018 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jul. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Less: Debt issuance costs, net				$ (3,492,000)			$ (3,855,000)
Less: Unamortized discount, net				(3,164,000)			(3,491,000)
Net long-term debt				326,356,000			331,476,000
Less: Current portion				(6,502,000)			0
Long-term debt, less current portion				319,854,000			331,476,000
Write-off of unamortized debt issuance costs and debt discount			$ 4,434,000	0	$ 4,434,000
Current portion of long-term debt				6,502,000			0
Debt issuance costs, net				3,492,000			3,855,000
Accumulated amortization				$ 1,100,000			700,000
Term B loans
Debt Instrument [Line Items]
Leverage ratio to avoid mandatory prepayments under the Credit Agreement		3.0
Leverage ratio at which mandatory prepayments increase under the Credit Agreement (exceeds)		3.50
Interest rate at the end of the period (as a percent)				6.33%
Term B loans \| Minimum
Debt Instrument [Line Items]
Leverage ratio to avoid mandatory prepayments under the Credit Agreement		1.00
Leverage ratio at which mandatory prepayments increase under the Credit Agreement (exceeds)		1.00
Term B loans \| Maximum
Debt Instrument [Line Items]
Amount of principal or interest if failed to pay considered as event of default		$ 40,000,000.000
Amount of debt which results in acceleration of debt if failed to pay considered as event of default		40,000,000.000
Amount of unbonded, undischarged or unstayed debt under entry by court of one or more judgments for certain period to determine as event of default		$ 40,000,000.000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Leverage ratio at which mandatory prepayments increase under the Credit Agreement (exceeds)		3.5
Prior senior secured term loan
Debt Instrument [Line Items]
Senior secured term loans		$ 412,100,000		$ 333,012,000			$ 338,822,000
Write-off of unamortized debt issuance costs and debt discount			$ 4,400,000
April 3, 2018 Credit Agreement
Debt Instrument [Line Items]
Debt instrument accordion feature, potential increase in additional borrowings		125,000,000
April 3, 2018 Credit Agreement \| Term B loans
Debt Instrument [Line Items]
Debt instrument, face amount		$ 412,000,000
First repayment of debt due				3,400,000
Aggregate amount of each consecutive quarterly scheduled principal installment				3,100,000
April 3, 2018 Credit Agreement \| Term B loans \| Adjusted Eurodollar Rate
Debt Instrument [Line Items]
Debt instrument fixed base rate		1.00%
Interest rate margin (as a percent)		4.00%
April 3, 2018 Credit Agreement \| Term B loans \| Base Rate
Debt Instrument [Line Items]
Debt instrument fixed base rate		2.00%
Interest rate margin (as a percent)		3.00%
April 3, 2018 Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Senior secured term loans				$ 0
Debt instrument, face amount		$ 15,000,000
Debt instrument accordion feature, potential increase in additional borrowings		$ 80,000,000
Unused commitment fee (as a percent)		0.50%
April 3, 2018 Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Adjusted Eurodollar Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)		4.00%
April 3, 2018 Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)		3.00%
Subsequent Event \| Prior senior secured term loan
Debt Instrument [Line Items]
Repayments of debt	$ 37,000,000
Subsequent Event \| Financial Services Business \| Discontinued Operations, Disposed of by Sale
Debt Instrument [Line Items]
Up-front payment included in consideration, subject to working capital adjustment upon closing of the sale						$ 40,000,000

OTHER NON-CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Lease obligation liabilities	$ 19,350	$ 28,800	$ 0
Income tax liabilities	7,151		7,069
Deferred revenue	78		19
Other non-current liabilities	423		2,090
Total	$ 27,002		$ 9,178

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Apr. 03, 2018
Assets:
Cash and cash equivalents	$ 85,379	$ 58,294
Restricted cash	3,741	5,752
Investment in equity securities	43,730	36,181
Long-term receivable (Note 3)	2,295	2,221
Level 1 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	85,379	58,294
Restricted cash	3,741	5,752
Investment in equity securities	43,730	36,181
Long-term receivable (Note 3)	0	0
Level 2 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Investment in equity securities	0	0
Long-term receivable (Note 3)	0	0
Level 3 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Investment in equity securities	0	0
Long-term receivable (Note 3)	2,295	2,221
Senior secured term loan
Liabilities:
Senior secured term loan	333,012	338,822	$ 412,100
Senior secured term loan \| Level 1 \| Fair Value, Measurements, Recurring
Liabilities:
Senior secured term loan	0	0
Senior secured term loan \| Level 2 \| Fair Value, Measurements, Recurring
Liabilities:
Senior secured term loan	328,433	330,351
Senior secured term loan \| Level 3 \| Fair Value, Measurements, Recurring
Liabilities:
Senior secured term loan	$ 0	$ 0

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Revenue \| Customer Concentration Risk \| Ocwen
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of revenue from largest customer	44.00%	50.00%	51.00%	51.00%
Revenue \| Minimum \| Customer Concentration Risk \| Ocwen
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of revenue from largest customer			50.00%
Discontinued Operations, Disposed of by Sale \| Rental Property Management Business
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Future proceeds from the sale of business, second installment			$ 3.0
RESI
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of securities outstanding (in shares)	3.6		3.6		4.1

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION Stock Repurchase Plan & Share-Based Compensation (Details)		3 Months Ended		6 Months Ended
	May 15, 2018 $ / shares shares	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2018 USD ($) $ / shares shares	Jun. 30, 2019 USD ($) component $ / shares shares	Jun. 30, 2018 USD ($) $ / shares shares	Dec. 31, 2018 shares
Share Repurchase Program
Authorized amount (in dollars) \| $		$ 105,000,000		$ 105,000,000
Capacity available to repurchase common stock under senior secured term loan (in dollars) \| $		467,000,000		467,000,000
Share-Based Compensation
Share-based compensation expense \| $		2,800,000	$ 1,900,000	5,453,000	$ 4,111,000
Estimated unrecognized compensation costs (in dollars) \| $		$ 14,600,000		$ 14,600,000
Weighted average remaining requisite service period for stock options over which unrecognized compensation costs would be recognized				1 year 8 months 19 days
Outstanding (in shares)		1,562,705		1,562,705		1,440,566
Performance criteria achieved (in shares)				227,849
Weighted average fair value of stock options granted and total intrinsic value of stock options exercised
Weighted average grant date fair value of stock options granted per share (in usd per share) \| $ / shares				$ 0.00	$ 16.27
Intrinsic value of options exercised \| $				$ 34,000	$ 4,393,000
Grant date fair value of stock options that vested \| $				$ 2,752,000	$ 1,334,000
Employee and non-employee stock options
Share-Based Compensation
Stock options granted (in shares)				0	272,000
Weighted average exercise price of stock options granted (in usd per share) \| $ / shares					$ 25.06
Employee and non-employee stock options \| Service-Based
Share-Based Compensation
Outstanding (in shares)		460,000		460,000
Employee and non-employee stock options \| Service-Based \| Minimum
Share-Based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period				3 years
Employee and non-employee stock options \| Service-Based \| Maximum
Share-Based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period				4 years
Expiration term				10 years
Employee and non-employee stock options \| Market-Based
Share-Based Compensation
Outstanding (in shares)		600,000		600,000
Number of components of an award \| component				2
Allowable performance period before expiration date				3 years
Employee and non-employee stock options \| Market-Based \| Minimum
Share-Based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period				3 years
Expiration term				10 years
Employee and non-employee stock options \| Market-Based \| Maximum
Share-Based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period				4 years
Employee and non-employee stock options \| Market-Based, ordinary performance \| Minimum
Share-Based Compensation
Percentage of compounded annual gain of stock price over exercise price required for the award to vest				20.00%
Employee and non-employee stock options \| Market-Based, extraordinary performance \| Minimum
Share-Based Compensation
Percentage of compounded annual gain of stock price over exercise price required for the award to vest				25.00%
Employee and non-employee stock options \| Performance-Based
Share-Based Compensation
Outstanding (in shares)		503,000		503,000
Employee and non-employee stock options \| Performance-Based \| Minimum
Share-Based Compensation
Allowable performance period before expiration date				10 years
Attainment above threshold performance levels, vesting percentage				50.00%
Employee and non-employee stock options \| Performance-Based \| Maximum
Share-Based Compensation
Attainment above threshold performance levels, vesting percentage				200.00%
Employee and non-employee stock options \| Performance-Based, Vesting Period One
Share-Based Compensation
Vesting percentage				25.00%
Employee and non-employee stock options \| Performance-Based, Vesting Period Two
Share-Based Compensation
Vesting percentage				25.00%
Employee and non-employee stock options \| Performance-Based, Vesting Period Three
Share-Based Compensation
Vesting percentage				25.00%
Employee and non-employee stock options \| Performance-Based, Vesting Period Four
Share-Based Compensation
Vesting percentage				25.00%
Restricted Stock And Restricted Stock Units (RSUs)
Share-Based Compensation
Restricted shares and restricted share units outstanding (in shares)		696,160		696,160		485,806
Restricted Stock And Restricted Stock Units (RSUs) \| Service-Based
Share-Based Compensation
Alternate award vesting period				2 years
Restricted shares and restricted share units outstanding (in shares)		546,000		546,000
Restricted Stock And Restricted Stock Units (RSUs) \| Service-Based \| Minimum
Share-Based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period				2 years
Restricted Stock And Restricted Stock Units (RSUs) \| Service-Based \| Maximum
Share-Based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period				4 years
Restricted Stock And Restricted Stock Units (RSUs) \| Performance-Based
Share-Based Compensation
Restricted shares and restricted share units outstanding (in shares)		150,000		150,000
Restricted Stock And Restricted Stock Units (RSUs) \| Performance-Based \| Maximum
Share-Based Compensation
Attainment above threshold performance levels, vesting percentage				225.00%
Restricted Stock And Restricted Stock Units (RSUs) \| Performance-Based, Vesting Period One
Share-Based Compensation
Vesting percentage				33.00%
Restricted Stock And Restricted Stock Units (RSUs) \| Performance-Based, Vesting Period Two
Share-Based Compensation
Vesting percentage				33.00%
Restricted Stock And Restricted Stock Units (RSUs) \| Performance-Based, Vesting Period Three
Share-Based Compensation
Vesting percentage				33.00%
Restricted Stock Units (RSUs)
Share-Based Compensation
Restricted share units granted (in shares)				392,579
Restricted share units granted, weighted average grant date fair value (in usd per share) \| $ / shares				$ 24.86
Share Repurchase Program, Current
Share Repurchase Program
Number of shares of common stock authorized to be purchased (in shares)	4,300,000
Percentage of outstanding shares authorized to be repurchased	25.00%
Minimum purchase price authorized (in usd per share) \| $ / shares	$ 1.00
Maximum purchase price authorized (in usd per share) \| $ / shares	$ 500.00
Period that shares may be repurchased, from the date of approval	5 years
Remaining number of shares available for repurchase under the plan (in shares)		3,100,000		3,100,000
Share Repurchase Programs
Share Repurchase Program
Number of shares of common stock purchased (in shares)		300,000	400,000		800,000
Average purchase price per share (in usd per share) \| $ / shares		$ 21.89	$ 27.14	$ 21.89	$ 27.39
Black-Scholes
Assumptions used to determine the fair value of options as of the grant date
Expected dividend yield					0.00%
Black-Scholes \| Minimum
Assumptions used to determine the fair value of options as of the grant date
Risk-free interest rate (%)				2.66%
Expected stock price volatility (%)				70.31%
Expected option life (in years)				6 years
Fair value \| $ / shares		16.17		$ 16.17
Black-Scholes \| Maximum
Assumptions used to determine the fair value of options as of the grant date
Risk-free interest rate (%)				2.98%
Expected stock price volatility (%)				71.86%
Expected option life (in years)				6 years 3 months
Fair value \| $ / shares		19.06		$ 19.06
Binomial
Assumptions used to determine the fair value of options as of the grant date
Expected dividend yield					0.00%
Binomial \| Minimum
Assumptions used to determine the fair value of options as of the grant date
Risk-free interest rate (%)				1.64%
Expected stock price volatility (%)				71.81%
Expected option life (in years)				2 years 6 months 22 days
Fair value \| $ / shares		14.67		$ 14.67
Binomial \| Maximum
Assumptions used to determine the fair value of options as of the grant date
Risk-free interest rate (%)				2.83%
Expected stock price volatility (%)				71.86%
Expected option life (in years)				4 years 3 months 26 days
Fair value \| $ / shares		$ 18.28		$ 18.28

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION Summary of Activity related to our stock (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Number of options
Outstanding at the beginning of the period (in shares)	1,440,566
Performance criteria achieved (in shares)	227,849
Exercised (in shares)	(12,500)
Forfeited (in shares)	(93,210)
Outstanding at the end of the period (in shares)	1,562,705	1,440,566
Exercisable at the end of the period (in shares)	990,130
Weighted average exercise price
Outstanding at the beginning of the period (in usd per share)	$ 30.78
Performance criteria achieved (in usd per share)	24.98
Exercised (in usd per share)	18.79
Forfeited (in usd per share)	46.27
Outstanding at the end of the period (in usd per share)	29.11	$ 30.78
Exercisable at the end of the period (in usd per share)	$ 26.51
Weighted average contractual term (in years)
Weighted average contractual term	4 years 11 months 4 days	5 years 14 days
Exercisable at the end of the period	3 years 3 months 18 days
Aggregate intrinsic value (in thousands)
Aggregate intrinsic value, beginning balance (in dollars)	$ 945
Aggregate intrinsic value, ending balance (in dollars)	172	$ 945
Exercisable at the end of the period (in dollars)	$ 166

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION RSU (Details) - Restricted Stock And Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at the beginning of period (in shares)	485,806
Issued (in shares)	(96,432)
Forfeited/canceled (in shares)	(85,793)
Outstanding at the end of period (in shares)	696,160

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of revenue [Line Items]
Revenue	$ 196,535	$ 218,556	$ 366,470	$ 415,994
Revenue recognized that was included in contract liability at the beginning of the period	3,700	5,400	8,600	11,300
Service revenue
Schedule of revenue [Line Items]
Revenue	190,520	208,861	355,519	397,627
Reimbursable expenses
Schedule of revenue [Line Items]
Revenue	4,775	9,008	9,271	17,155
Non-controlling interests
Schedule of revenue [Line Items]
Revenue	$ 1,240	$ 687	$ 1,680	$ 1,212

REVENUE - Disaggregation of revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 196,535	$ 218,556	$ 366,470	$ 415,994
Revenue recognized when services are performed or assets are sold
Disaggregation of Revenue [Line Items]
Revenue	178,949	187,206	326,704	354,162
Revenue related to technology platforms and professional services
Disaggregation of Revenue [Line Items]
Revenue	12,811	22,342	30,495	44,677
Reimbursable expenses revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 4,775	$ 9,008	$ 9,271	$ 17,155

COST OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
COST OF REVENUE (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cost of Revenue [Abstract]
Compensation and benefits	$ 36,806	$ 54,769	$ 78,174	$ 109,635
Outside fees and services	58,588	68,879	121,169	133,977
Cost of real estate sold	40,276	13,320	42,370	16,499
Technology and telecommunications	8,317	10,852	16,826	20,303
Reimbursable expenses	4,775	9,008	9,271	17,155
Depreciation and amortization	3,879	6,378	8,935	12,831
Cost of revenue	$ 152,641	$ 163,206	$ 276,745	$ 310,400

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Selling, General and Administrative Expense [Abstract]
Compensation and benefits	$ 15,238	$ 12,197	$ 26,591	$ 25,766
Amortization of intangible assets	3,544	7,544	12,191	14,691
Occupancy related costs	3,871	7,189	7,779	15,623
Marketing costs	2,989	3,978	5,921	7,585
Professional services	3,320	4,328	8,796	7,554
Depreciation and amortization	4,067	1,950	8,380	4,218
Other	2,822	5,738	7,433	10,611
Total	$ 35,851	$ 42,924	$ 77,091	$ 86,048

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Income and Expenses [Abstract]
Loss on debt refinancing		$ (4,434)	$ 0	$ (4,434)
Interest income	$ 116	100	267	231
Other, net	412	473	635	1,614
Total	$ 528	$ (3,861)	$ 902	$ (2,589)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income tax (provision) benefit	$ (16,513)	$ (816)	$ (15,291)	$ 549
Effective income tax rate	138.70%	26.60%	192.50%	28.90%
Increase in income tax provision from reduction in deferred tax assets in connection with decrease in Luxembourg statutory income tax rate	$ 12,300		$ (12,300)
Increase in foreign income taxes in connection with an internal legal entity reorganization	$ 900		$ 900
Effective income tax rate, excluding decrease in statutory income tax rate and internal legal entity reorganization	27.60%		25.90%

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net (loss) income attributable to Altisource	$ (5,844)	$ 1,568	$ (9,028)	$ (2,564)
Weighted average common shares outstanding, basic (in shares)	16,214	17,142	16,253	17,260
Dilutive effect of stock options, restricted shares and restricted share units (in shares)	0	411	0	0
Weighted average common shares outstanding, diluted (in shares)	16,214	17,553	16,253	17,260
(Loss) earnings per share:
Basic (in usd per share)	$ (0.36)	$ 0.09	$ (0.56)	$ (0.15)
Diluted (in usd per share)	$ (0.36)	$ 0.09	$ (0.56)	$ (0.15)
Anti-dilutive securities
Options, restricted shares and restricted share units excluded from the computation of diluted EPS (in shares)	1,500	800	1,500	1,300
Options Whose Exercise Price is Greater than Average Market Price
Anti-dilutive securities
Options, restricted shares and restricted share units excluded from the computation of diluted EPS (in shares)	500	300	400	300
Options and Restricted Shares Issuable upon Achievement of Certain Market and Performance Criteria That Has Not Been Met
Anti-dilutive securities
Options, restricted shares and restricted share units excluded from the computation of diluted EPS (in shares)	800	500	800	500
Employee and Nonemployee Stock Options, Restricted Stock and Restricted Stock Units Whose Impacts are Anti-Dilutive
Anti-dilutive securities
Options, restricted shares and restricted share units excluded from the computation of diluted EPS (in shares)	300		300	500

RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,899	$ 0	$ 6,319	$ 0
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected future cost (approximate)	12,000		12,000
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected future cost (approximate)	$ 15,000		$ 15,000

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Details) - USD ($)	1 Months Ended	3 Months Ended			6 Months Ended
	Jan. 31, 2018	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Concentration Risk
Loss related to sales tax exposure		$ 0		$ 0	$ 2,054,541	$ 0
Escrow and Trust Balances
Amounts held in escrow and trust accounts		$ 21,600,000			$ 21,600,000		$ 23,600,000
Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer		44.00%		50.00%	51.00%	51.00%
Highly Correlated - Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer		5.00%			6.00%
NRZ \| Ocwen
Concentration Risk
Subservice transferred subject MSRs, initial term	5 years				5 years
NRZ \| Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of loans serviced and subserviced by largest customer's largest client			50.00%

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Right-to-use assets					$ 42.1
Lease obligation liabilities					$ 45.5
Sublease income	$ 0.5	$ 0.4	$ 0.8	$ 0.9
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	6 years		6 years

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Term and Assumption (Details)	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term (in years)	3 years 6 months 7 days
Weighted average discount rate	7.08%

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Activity (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Cash used in operating activities for amounts included in the measurement of lease liabilities	$ 3,720	$ 8,457
Short-term (less than one year) lease costs	1,152	2,309
Selling, general and administrative expense
Lessee, Lease, Description [Line Items]
Operating lease costs	2,385	5,265
Cost of revenue
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 670	$ 1,528

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 6,933
2020	11,589
2021	7,863
2022	4,762
2023	3,339
Thereafter	1,338
Total lease payments	35,824
Less interest	(4,219)
Present value of lease liabilities	$ 31,605

SUBSEQUENT EVENT (Details) - USD ($) $ in Millions	Jul. 17, 2019	Jul. 01, 2019
Discontinued Operations, Disposed of by Sale \| Financial Services Business
Subsequent Event [Line Items]
Total proceeds from the sale of business		$ 44.0
Additional payment to be received on one-year anniversary of the sale closing		4.0
Discontinued Operations, Disposed of by Sale \| Financial Services Business \| Subsequent Event
Subsequent Event [Line Items]
Up-front payment included in consideration, subject to working capital adjustment upon closing of the sale		$ 40.0
Minimum \| Discontinued Operations, Disposed of by Sale \| Financial Services Business
Subsequent Event [Line Items]
Transition services agreement term		2 months
Maximum \| Discontinued Operations, Disposed of by Sale \| Financial Services Business
Subsequent Event [Line Items]
Transition services agreement term		1 year 30 days
Senior secured term loan \| Subsequent Event
Subsequent Event [Line Items]
Repayments of debt	$ 37.0

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (10,448,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(9,715,000)
Comprehensive Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(733,000)
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Common Stock [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Treasury Stock [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0