Altisource Portfolio Solutions
Oct 23, 2017

CastleLine Delivers Certified Loan Program to help Maximize Returns and Minimize Repurchase Risk

Plaza Home Mortgage provides Peoples Mortgage protection from loan manufacturing defects and fraud by leveraging the CastleLine Certified Loan Program

LUXEMBOURG -- (Marketwired) -- 10/23/17 -- CastleLine, a leading provider of risk management and insurance solutions, is providing Plaza Home Mortgage, Inc. with a comprehensive risk management program, helping to protect the company from underwriting errors, fraud and other loan manufacturing defects. Plaza has been able to successfully grow its business by sharing the benefit of this program with its correspondent lenders, including Peoples Mortgage.

Peoples Mortgage has offered home buyers competitive real estate financing and personalized customer service since 1998. Over the last nine years, Peoples has grown from 30 to 520 employees and is active in 33 states. While quality control is extremely important to Peoples, even with strict processes in place, underwriting errors and regulatory missteps do occur. Any hard-to-detect underwriting error could result in a substantial loss to Peoples if Plaza was not insured under the CastleLine® Certified Loan™ Program. The Certified Loan Program helps protect customers from losses arising from loan manufacturing defects, underwriting errors and misrepresentations, and borrower, seller and employee fraud.

Ultimately, through Plaza's relationship with CastleLine, Peoples was recently able to:

"Based on our own calculations, we gain a value of more than 10 basis points (bps) per loan/per transaction with the Plaza relationship," said Shawn Morris, Managing Partner, Peoples Mortgage. "When you factor in the cost of potential defects along with the savings on the deductible, the calculation was simple."

"In today's competitive market, it is challenging to differentiate yourself from your peers," said Mike Fontaine, Executive Vice President and Chief Financial Officer, Plaza Home Mortgage, Inc. "Through the CastleLine Certified Loan Program, we are able to basically eliminate representation and warranty risk for our customers, a real benefit. Peoples is a great example of a lender that has captured this benefit."

"Protecting and increasing company value is a primary goal for a lender," said Justin Vedder, Executive Vice President, CastleLine. "With the Plaza program which helps to mitigate representation and warranty risk, lenders should be able to reduce loss exposure and in turn increase their organizational value. Peoples is a company that has captured this value and is able to quantify it."

About CastleLine®

CastleLine provides an array of insurance products and financial services to parties involved in residential mortgages, private market securitization, personal property and real estate. Through CastleLine's consultative approach, customized and cost-effective solutions are provided to help clients manage their risk and increase profitability.1 CastleLine is part of the Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) family of businesses. For more information, please visit castleline.com

About Peoples Mortgage

Peoples Mortgage Company opened its doors in Arizona in 1998 with the mission of offering competitive real estate financing with unmatched service. This straightforward approach has given us a solid reputation in the industry and paved the way to expand nationally. With our foundation and responsible lending practices, we have helped thousands of homeowners. Today, the Peoples family has grown to over 500 elite team members in branches across the country. For more information, please visit www.peoplesmortgage.com.

About Plaza Home Mortgage

Plaza is a privately owned, full-service Wholesale and Correspondent Mortgage Lender founded in 2000. Headquartered in San Diego, California, Plaza maintains Operations Centers and employs associates nationwide. The company offers a variety of simple, affordable options designed to meet the needs of the majority of clients and borrowers. Plaza is dedicated to building quality, long-term relationships with its clients by offering comprehensive programs and exceptional customer support. For more information, visit www.plazahomemortgage.com or call 866-260-2529.

About Altisource®

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) 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 market. Additional information is available at altisource.com.

1 The information contained herein is provided for general marketing purposes only. For terms and conditions of coverage, please refer to the specific policy wording.

Investor Contact:
Indroneel Chatterjee
Chief Financial Officer
+352-2469-7988
Indroneel.Chatterjee@altisource.com

Press Contact:
Britt E. Gottlieb
Senior Manager, Communications
617-728-6118
Britt.Gottlieb@altisource.com

Source: Altisource Portfolio Solutions S.A.

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