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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 24, 2020
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	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Interactive Data Current	Yes
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		15,570,432
Entity Treasury Stock		9,842,316
Entity Shell Company	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 79,098	$ 82,741
Investment in equity securities (Note 4)	41,271	42,618
Accounts receivable, net	43,576	43,615
Prepaid expenses and other current assets	17,660	15,214
Total current assets	181,605	184,188
Premises and equipment, net (Note 8)	20,984	24,526
Right-of-use assets under operating leases (Note 9)	26,064	29,074
Goodwill	73,849	73,849
Intangible assets, net	56,837	61,046
Deferred tax assets, net	1,244	1,626
Other assets	8,012	10,810
Total assets	368,595	385,119
Current liabilities:
Accounts payable and accrued expenses	64,658	67,671
Deferred revenue	5,482	5,183
Other current liabilities (Note 12)	14,582	14,724
Total current liabilities	84,722	87,578
Long-term debt	288,233	287,882
Other non-current liabilities (Note 14)	27,164	31,016
Commitments, contingencies and regulatory matters (Note 24)
Equity (deficit):
Common stock ($1.00 par value; 100,000 shares authorized, 25,413 issued and 15,559 outstanding as of March 31, 2020; 15,454 outstanding as of December 31, 2019)	25,413	25,413
Additional paid-in capital	136,563	133,669
Retained earnings	252,466	272,026
Treasury stock, at cost (9,854 shares as of March 31, 2020 and 9,959 shares as of December 31, 2019)	(447,229)	(453,934)
Altisource deficit	(32,787)	(22,826)
Non-controlling interests	1,263	1,469
Total deficit	(31,524)	(21,357)
Total liabilities and deficit	$ 368,595	$ 385,119

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 1.00	$ 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)	15,559,000	15,454,000
Treasury stock, shares (in shares)	9,854,000	9,959,000

- Definition

Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 121,444	$ 169,935
Cost of revenue	94,581	124,215
Gross profit	26,863	45,720
Operating expenses:
Selling, general and administrative expenses	28,093	41,926
Restructuring charges (Note 23)	2,925	4,420
Loss from operations	(4,155)	(626)
Other income (expense), net:
Interest expense	(4,716)	(5,952)
Unrealized (loss) gain on investment in equity securities (Note 4)	(1,347)	2,238
Other income (expense), net	1,094	374
Total other income (expense), net	(4,969)	(3,340)
Loss before income taxes and non-controlling interests	(9,124)	(3,966)
Income tax (provision) benefit	(2,421)	1,222
Net loss	(11,545)	(2,744)
Net income attributable to non-controlling interests	(105)	(440)
Net loss attributable to Altisource	$ (11,650)	$ (3,184)
Loss per share:
Basic (in usd per share)	$ (0.75)	$ (0.20)
Diluted (in usd per share)	$ (0.75)	$ (0.20)
Weighted average shares outstanding:
Basic (in shares)	15,497	16,292
Diluted (in shares)	15,497	16,292
Comprehensive loss:
Comprehensive loss, net of tax	$ (11,545)	$ (2,744)
Comprehensive income attributable to non-controlling interests	(105)	(440)
Comprehensive loss attributable to Altisource	$ (11,650)	$ (3,184)

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - 3 months ended Mar. 31, 2020 - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Treasury stock, at cost	Non-controlling interests
Balance (in shares) at Dec. 31, 2019		25,413
Balance at Dec. 31, 2019	$ (21,357)	$ 25,413	$ 133,669	$ 272,026	$ (453,934)	$ 1,469
Increase (Decrease) in Equity
Net loss	(11,545)			(11,650)		105
Distributions to non-controlling interest holders	(311)					(311)
Share-based compensation expense	2,894		2,894
Exercise of stock options and issuance of restricted share units and restricted shares	0			(4,796)	4,796
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances	(1,205)			(3,114)	1,909
Balance (in shares) at Mar. 31, 2020		25,413
Balance at Mar. 31, 2020	$ (31,524)	$ 25,413	$ 136,563	$ 252,466	$ (447,229)	$ 1,263

- Definition

Amount of increase to additional paid-in capital (APIC) for recognition of cost for award under share-based payment arrangement.

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- 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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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net loss	$ (11,545)	$ (2,744)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,117	5,631
Amortization of right-of-use assets under operating leases	2,706	3,738
Amortization of intangible assets	4,209	8,647
Unrealized loss (gain) on investment in equity securities	1,347	(2,238)
Share-based compensation expense	2,894	2,621
Bad debt expense	342	155
Amortization of debt discount	167	153
Amortization of debt issuance costs	184	170
Deferred income taxes	126	582
Loss on disposal of fixed assets	39	331
Changes in operating assets and liabilities:
Accounts receivable	(303)	1,091
Short-term investments in real estate	0	(401)
Prepaid expenses and other current assets	(36)	(781)
Other assets	612	(92)
Accounts payable and accrued expenses	(3,116)	(16,318)
Current and non-current operating lease liabilities	(3,354)	(3,480)
Other current and non-current liabilities	(37)	(3,720)
Net cash used in operating activities	(1,648)	(6,655)
Cash flows from investing activities:
Additions to premises and equipment	(511)	(790)
Net cash used in investing activities	(511)	(790)
Cash flows from financing activities:
Proceeds from stock option exercises	0	28
Distributions to non-controlling interests	(311)	(620)
Payments of tax withholding on issuance of restricted share units and restricted shares	(1,205)	(585)
Net cash used in financing activities	(1,516)	(1,177)
Net decrease in cash, cash equivalents and restricted cash	(3,675)	(8,622)
Cash, cash equivalents and restricted cash at the beginning of the period	86,583	64,046
Cash, cash equivalents and restricted cash at the end of the period	82,908	55,424
Supplemental cash flow information:
Interest paid	4,415	5,634
Income taxes (received) paid, net	(1,720)	2,410
Acquisition of right-of-use assets with operating lease liabilities	705	209
Reduction of right-of-use assets from operating lease modifications or reassessments	(1,273)	0
Non-cash investing and financing activities:
Net increase in payables for purchases of premises and equipment	$ 103	$ 28

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Mar. 31, 2020
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. 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 March 31, 2020 , Lenders One had total assets of $2.0 million and total liabilities of $0.6 million . As of December 31, 2019 , Lenders One had total assets of $1.6 million and total liabilities of $0.3 million . In 2019, Altisource created Pointillist, Inc. (“Pointillist”) and contributed the Pointillist ^® customer journey analytics business and $8.5 million to it. Pointillist is owned by Altisource and management of Pointillist. Management of Pointillist owns a non-controlling interest representing 12.1% of the outstanding equity of Pointillist. Additional equity shares of Pointillist are available for issuance to management and board members of Pointillist. Altisource has no ongoing obligation to provide future funding to Pointillist. Pointillist is presented in the accompanying condensed consolidated financial statements on a consolidated basis and the portion of Pointillist owned by Pointillist management is reported as non-controlling interests. 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, 2019 , as filed with the SEC on March 5, 2020 . 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 Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This standard simplified the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Prior guidance required 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 requires 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. The Company adopted this standard effective January 1, 2020 and is applied prospectively. Adoption of this new standard did not have 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 modified 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. The Company adopted this standard effective January 1, 2020. Adoption of this new standard did not have any impact on the Company’s 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. The Company adopted this standard effective January 1, 2020 and is applied prospectively. Adoption of this new standard did not have any impact on the Company’s condensed consolidated financial statements. Future Adoption of New Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This standard is part of the FASB’s initiative to reduce complexity in accounting standards by instituting several simplifying provisions and removing several exceptions pertaining to income tax accounting. This standard will be effective for annual periods beginning after December 15, 2020, including interim periods within that reporting period. Early adoption of this standard is permitted. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This standard applies only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. This standard provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting, in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of LIBOR. This standard is effective from the period from March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a topic or an industry subtopic, the standard must be applied prospectively for all eligible contract modifications for that topic or industry subtopic. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements.

- Definition

The entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles.

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CUSTOMER CONCENTRATION	3 Months Ended
CUSTOMER CONCENTRATION	Mar. 31, 2020
Risks and Uncertainties [Abstract]
CUSTOMER CONCENTRATION	CUSTOMER CONCENTRATION Ocwen Ocwen Financial Corporation (together with its subsidiaries, “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 months ended March 31, 2020 , Ocwen was our largest customer, accounting for 61% of our total revenue. Ocwen purchases certain mortgage 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. In February 2019, Altisource and Ocwen entered into agreements that, among other things, facilitated 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, requiring Ocwen to use Altisource as service provider for certain service referrals totaling an amount equal to 100% of the applicable service referrals on certain portfolios plus an amount equal to not less than 90% of applicable service referrals from certain other portfolios (determined on a service by service basis), subject to certain additional restrictions and limitations, and affirm Altisource’s role as a strategic service provider to Ocwen through August 2025. In connection with these agreements, Altisource expressly preserved and did not waive any of its existing contractual rights relating to service referrals, other than with respect to Ocwen transitioning from the REALServicing and related technologies. 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. Ocwen’s transition to another mortgage servicing platform was completed during 2019. For the three months ended March 31, 2020 and 2019 , service revenue from REALServicing and related technologies was $0.9 million and $8.2 million , respectively. 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 three months ended March 31, 2020 and 2019 , we recognized revenue from Ocwen of $74.2 million and $98.3 million , respectively. Revenue from Ocwen as a percentage of consolidated revenue was 61% and 58% for the three months ended March 31, 2020 and 2019 , 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 three months ended March 31, 2020 and 2019 , we recognized revenue of $7.8 million and $11.1 million , 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 discussed above. As of March 31, 2020 , accounts receivable from Ocwen totaled $21.4 million , $18.1 million of which was billed and $3.3 million of which was unbilled. As of December 31, 2019 , accounts receivable from Ocwen totaled $19.1 million , $15.7 million of which was billed and $3.4 million of which was unbilled. 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 December 31, 2019, NRZ owned MSRs or rights to MSRs relating to approximately 56% of loans serviced and subserviced by Ocwen (measured in unpaid principal balance (“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, subject to early termination rights. 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. A services agreement has not been signed. The parties continue to operate under the Brokerage Agreement. 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 three months ended March 31, 2020 and 2019 , we recognized revenue from NRZ of $2.7 million and $4.0 million , respectively, under the Brokerage Agreement. For the three months ended March 31, 2020 and 2019 , we recognized additional revenue of $12.0 million and $17.7 million , respectively, relating to the Subject MSRs when a party other than NRZ selects Altisource as the service provider.

SALE OF BUSINESSES	3 Months Ended
SALE OF BUSINESSES	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
SALE OF BUSINESSES	SALE OF BUSINESSES Financial Services Business On July 1, 2019, Altisource sold 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 (finalized during 2019) 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 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 are charged to TSI on a fixed fee or hourly basis. As of April 1, 2020, all of the transition services other than certain information technology systems and infrastructure have been fully transitioned to TSI. 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. 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 is required to be paid on the earlier of a RESI change of control or on August 8, 2023 (see Note 4 for a discussion of the February 17, 2020 RESI merger announcement and resulting potential change of control of RESI). The present value of the second installment is included in prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets as of March 31, 2020 at a discounted value of $2.4 million and is included in other assets in the accompanying condensed consolidated balance sheets as of December 31, 2019 and has a discounted value of $2.4 million . DISCONTINUATION OF LINES OF BUSINESS Owners.com In October 2019, the Company announced its plans to wind down and close the Owners.com business, which was completed by December 31, 2019. Owners.com was a technology-enabled real estate brokerage and provider of related mortgage brokerage and title services. Owners.com was not material in relation to the Company’s results of operations or financial position. Wind down expenses were included in the Project Catalyst restructuring charges (see Note 23 ). Buy-Renovate-Lease-Sell 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 was not material in relation to the Company’s results of operations or financial position. The Company completed the sale of the BRS Inventory during the year ended December 31, 2019.

INVESTMENT IN EQUITY SECURITIES	3 Months Ended
INVESTMENT IN EQUITY SECURITIES	Mar. 31, 2020
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 loss. As of March 31, 2020 and December 31, 2019 , we held 3.5 million shares of RESI common stock. As of March 31, 2020 and December 31, 2019 , the fair value of our investment was $41.3 million and $42.6 million , respectively. During the three months ended March 31, 2020 and 2019 , we recognized an unrealized (loss) gain from the change in fair value of $(1.3) million and $2.2 million , respectively. During the three months ended March 31, 2020 and 2019 , we earned dividends of $0.5 million and $0.6 million , respectively, related to this investment. On February 17, 2020, RESI entered into a merger agreement to be acquired by affiliates of Amherst Single Family Residential Partners VI, LP (“Amherst”) for $12.50 in cash per share. Also on February 17, 2020, the Company entered into a Voting and Support Agreement with an affiliate of Amherst pursuant to which the Company agreed, among other things and subject to the terms and conditions of the Voting and Support Agreement, to vote its shares in favor of the merger. Concurrently with the execution of the Voting and Support Agreement, the Company entered into a side letter with RESI pursuant to which RESI agreed, among other things and subject to the terms and conditions of the side letter, to reimburse the Company for: (a) certain out-of-pocket legal fees and legal expenses should the Company or its officers, directors, employees or other representatives (collectively, the “Indemnified Parties”) incur such costs or expenses in connection with any stockholder’s claims or proceedings against RESI or derivatively on behalf of RESI, in which the Indemnified Parties or their representatives are named parties, with respect to any of the merger agreement, the Voting and Support Agreement, the merger or other transactions contemplated thereby; and (b) any amounts for which the Indemnified Parties are found liable or are required to pay pursuant to any settlement or other voluntary disposition with respect to any such proceeding.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

ACCOUNTS RECEIVABLE, NET

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following:



(in thousands)	March 31, 2020			December 31, 2019

Billed	$	36,388		$	35,921
Unbilled	12,002			12,166
	48,390			48,087
Less: Allowance for credit losses	(4,814		)	(4,472		)

Total	$	43,576		$	43,615

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.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

3 Months Ended

Mar. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Maintenance agreements, current portion	$	1,845	$	1,923
Income taxes receivable	2,605		5,098
Prepaid expenses	6,972		3,924
Other current assets	6,238		4,269

Total	$	17,660	$	15,214

DISCONTINUATION OF LINES OF BUSINESS	3 Months Ended
DISCONTINUATION OF LINES OF BUSINESS	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUATION OF LINES OF BUSINESS	SALE OF BUSINESSES Financial Services Business On July 1, 2019, Altisource sold 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 (finalized during 2019) 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 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 are charged to TSI on a fixed fee or hourly basis. As of April 1, 2020, all of the transition services other than certain information technology systems and infrastructure have been fully transitioned to TSI. 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. 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 is required to be paid on the earlier of a RESI change of control or on August 8, 2023 (see Note 4 for a discussion of the February 17, 2020 RESI merger announcement and resulting potential change of control of RESI). The present value of the second installment is included in prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets as of March 31, 2020 at a discounted value of $2.4 million and is included in other assets in the accompanying condensed consolidated balance sheets as of December 31, 2019 and has a discounted value of $2.4 million . DISCONTINUATION OF LINES OF BUSINESS Owners.com In October 2019, the Company announced its plans to wind down and close the Owners.com business, which was completed by December 31, 2019. Owners.com was a technology-enabled real estate brokerage and provider of related mortgage brokerage and title services. Owners.com was not material in relation to the Company’s results of operations or financial position. Wind down expenses were included in the Project Catalyst restructuring charges (see Note 23 ). Buy-Renovate-Lease-Sell 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 was not material in relation to the Company’s results of operations or financial position. The Company completed the sale of the BRS Inventory during the year ended December 31, 2019.

PREMISES AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

Premises and equipment, net consists of the following:



(in thousands)	March 31, 2020			December 31, 2019

Computer hardware and software	$	137,838		$	144,608
Leasehold improvements	21,756			23,800
Furniture and fixtures	7,893			8,775
Office equipment and other	3,632			4,004
	171,119			181,187
Less: Accumulated depreciation and amortization	(150,135		)	(156,661		)

Total	$	20,984		$	24,526

Depreciation and amortization expense amounted to $4.1 million and $5.6 million for the three months ended March 31, 2020 and 2019 , 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 loss.

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



(in thousands)	March 31, 2020		December 31, 2019

United States	$	11,305	$	13,426
Luxembourg	8,819		10,295
India	660		671
Philippines	86		95
Other	114		39

Total	$	20,984	$	24,526

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET

Right-of-use assets under operating leases consist of the following:



(in thousands)	March 31, 2020			December 31, 2019

Right-of-use assets under operating leases	$	39,161		$	39,729
Less: Accumulated amortization	(13,097		)	(10,655		)

Total	$	26,064		$	29,074

Amortization of operating leases was $2.7 million and $3.7 million for the three months ended March 31, 2020 and 2019, 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 loss.

GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Goodwill during the three months ended March 31, 2020 is as follows:



(in thousands)	Total

Balance as of March 31, 2020 and December 31, 2019	$	73,849

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)	March 31, 2020		December 31, 2019		March 31, 2020			December 31, 2019			March 31, 2020		December 31, 2019

Definite lived intangible assets:
Customer related intangible assets	9	$	214,973	$	214,973	$	(179,164	)	$	(176,043	)	$	35,809	$	38,930
Operating agreement	20	35,000		35,000		(17,814		)	(17,376		)	17,186		17,624
Trademarks and trade names	16	9,709		9,709		(5,996		)	(5,893		)	3,713		3,816
Non-compete agreements	4	1,230		1,230		(1,221		)	(1,215		)	9		15
Intellectual property	—	—		300		—			(175		)	—		125
Other intangible assets	5	1,800		3,745		(1,680		)	(3,209		)	120		536

Total		$	262,712	$	264,957	$	(205,875	)	$	(203,911	)	$	56,837	$	61,046

Amortization expense for definite lived intangible assets was $4.2 million and $8.6 million for three months ended March 31, 2020 and 2019 , respectively . Expected annual definite lived intangible asset amortization expense for 2020 through 2024 is $13.9 million , $10.3 million , $5.1 million , $5.1 million and $5.1 million , respectively.

OTHER ASSETS

3 Months Ended

Mar. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER ASSETS

Other assets consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Security deposits	$	3,019	$	3,473
Restricted cash	3,810		3,842
Other	1,183		3,495

Total	$	8,012	$	10,810

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Mar. 31, 2020

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accounts payable and accrued expenses consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Accounts payable	$	23,026	$	22,431
Accrued expenses - general	24,387		24,558
Accrued salaries and benefits	14,317		18,982
Income taxes payable	2,928		1,700

Total	$	64,658	$	67,671

Other current liabilities consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Operating lease liabilities	$	11,406	$	11,398
Unfunded cash account balances	1,687		1,820
Other	1,489		1,506

Total	$	14,582	$	14,724

LONG-TERM DEBT

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of the following:



(in thousands)	March 31, 2020			December 31, 2019

Senior secured term loans	$	293,826		$	293,826
Less: Debt issuance costs, net	(2,935		)	(3,119		)
Less: Unamortized discount, net	(2,658		)	(2,825		)

Long-term debt	$	288,233		$	287,882

Altisource Portfolio Solutions S.A. and its wholly-owned subsidiary, Altisource S.à r.l. entered into a credit agreement (the “Credit Agreement”) in April 2018 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”).

There are no mandatory repayments of the Term B Loans due until March 2023, when $1.3 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 our 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 our 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.

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 March 31, 2020 was 5.45% .

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 March 31, 2020 .

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 March 31, 2020 , debt issuance costs were $2.9 million , net of $1.6 million of accumulated amortization. As of December 31, 2019 , debt issuance costs were $3.1 million , net of $1.4 million of accumulated amortization.

OTHER NON-CURRENT LIABILITIES

3 Months Ended

Mar. 31, 2020

Other Liabilities Disclosure [Abstract]

OTHER NON-CURRENT LIABILITIES

Other non-current liabilities consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Operating lease liabilities	$	16,041	$	19,707
Income tax liabilities	10,557		10,935
Deferred revenue	261		88
Other non-current liabilities	305		286

Total	$	27,164	$	31,016

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS

3 Months Ended

Mar. 31, 2020

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 March 31, 2020 and December 31, 2019 . The following fair values are estimated using market information and what the Company believes to be appropriate valuation methodologies under GAAP:



	March 31, 2020								December 31, 2019
(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	$	79,098	$	79,098	$	—	$	—	$	82,741	$	82,741	$	—	$	—
Restricted cash	3,810		3,810		—		—		3,842		3,842		—		—
Investment in equity securities	41,271		41,271		—		—		42,618		42,618		—		—
Short-term receivable (Note 3)	2,410		—		—		2,410		—		—		—		—
Long-term receivable (Note 3)	—		—		—		—		2,371		—		—		2,371

Liabilities:
Senior secured term loan	293,826		—		220,370		—		293,826		—		277,666		—

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 3.5 million shares of RESI common stock as of March 31, 2020 and December 31, 2019 . 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 revenue from Ocwen (see Note 2 for additional information on Ocwen revenues and accounts receivable balance). The Company strives to mitigate 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

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [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 March 31, 2020 , approximately 2.4 million shares of common stock remain available for repurchase under the program. There were no purchases of shares of common stock during the three months ended March 31, 2020 and 2019. 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 March 31, 2020 , we can repurchase up to approximately $98 million of our common stock under Luxembourg law. Our Credit Agreement also limits the amount we can spend on share repurchases, which limit was approximately $452 million as of March 31, 2020 , 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 $2.9 million and $2.6 million for the three months ended March 31, 2020 and 2019 , respectively. As of March 31, 2020 , estimated unrecognized compensation costs related to share-based awards amounted to $10.8 million , which we expect to recognize over a weighted average remaining requisite service period of approximately 1.68 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 generally expire on the earlier of ten years after the date of grant or following termination of service. A total of 388 thousand service-based options were outstanding as of March 31, 2020 .

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 496 thousand market-based options were outstanding as of March 31, 2020 .

Performance-Based Options. These option grants generally will vest if certain specific financial measures 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 generally expire on the earlier of ten years after the date of grant or following termination of service. There were 464 thousand performance-based options outstanding as of March 31, 2020 .

There were no stock options granted during the three months ended March 31, 2020 and 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.

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.

We determined the expected option life of all service-based stock option grants using the simplified method, determined based on the graded vesting term plus the contractual term of the options, divided by two. 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 total intrinsic value of stock options exercised and the grant date fair value of stock options that vested during the periods presented:



	Three months ended March 31,
(in thousands, except per share amounts)	2020		2019

Intrinsic value of options exercised	$	—	$	10
Grant date fair value of stock options that vested	1,650		2,182

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, 2019	1,468,046		$	29.19	4.60	$	94
Forfeited/expired	(119,816	)	21.89

Outstanding as of March 31, 2020	1,348,230		29.84		4.68	—

Exercisable as of March 31, 2020	909,530		26.88		3.63	—

Other Share-Based Awards

The Company’s other share-based and similar types of awards are composed of restricted shares and 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. A total of 476 thousand service-based awards were outstanding as of March 31, 2020 . Beginning in 2019, service-based restricted share units were awarded as a component of most employees’ annual incentive compensation rather than cash.

Performance-Based Awards. These awards generally vest if certain specific financial measures 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. If the performance criteria achieved is below certain thresholds, the award is canceled. A total of 275 thousand performance-based awards were outstanding as of March 31, 2020 .

The Company granted 296 thousand restricted share units (at a weighted average grant date fair value of $18.29 per share) during the three months ended March 31, 2020 .

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, 2019	636,146
Granted	296,101
Issued	(105,381	)
Forfeited/canceled	(76,099	)

Outstanding as of March 31, 2020	750,767

REVENUE

3 Months Ended

Mar. 31, 2020

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. The Lenders One members’ earnings are included in revenue and reduced from net income to arrive at net income attributable to Altisource (see Note 1 ). Our services are provided to customers located in the United States. The components of revenue were as follows for the three months ended March 31:



(in thousands)	2020		2019

Service revenue	$	113,176	$	164,999
Reimbursable expenses	7,845		4,496
Non-controlling interests	423		440

Total	$	121,444	$	169,935

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 March 31, 2020	$	108,008	$	5,591	$	7,845	$	121,444
Three months ended March 31, 2019	147,755		17,684		4,496		169,935

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 14 ). Revenue recognized that was included in the contract liability at the beginning of the period was $2.5 million and $4.9 million for the three months ended March 31, 2020 and 2019 , respectively.

COST OF REVENUE

3 Months Ended

Mar. 31, 2020

Cost of Revenue [Abstract]

COST OF REVENUE

Cost of revenue principally includes payroll and employee benefits associated with personnel employed in customer service and operations roles, fees paid to external providers related to the provision of services, cost of real estate sold, reimbursable expenses, technology and telecommunications costs as well as depreciation and amortization of operating assets. The components of cost of revenue were as follows for the three months ended March 31:



(in thousands)	2020		2019

Compensation and benefits	$	25,916	$	41,368
Outside fees and services	48,140		62,581
Technology and telecommunications	9,232		9,478
Reimbursable expenses	7,845		4,496
Depreciation and amortization	3,448		4,198
Cost of real estate sold	—		2,094

Total	$	94,581	$	124,215

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

3 Months Ended

Mar. 31, 2020

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, sales and marketing, finance, law, compliance, human resources, vendor management, facilities and risk management 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 for the three months ended March 31:



(in thousands)	2020		2019

Compensation and benefits	$	12,012	$	11,353
Occupancy related costs	5,421		7,474
Amortization of intangible assets	4,209		8,647
Professional services	2,635		5,476
Marketing costs	1,437		2,932
Depreciation and amortization	669		1,433
Other	1,710		4,611

Total	$	28,093	$	41,926

OTHER INCOME (EXPENSE), NET

3 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

OTHER INCOME (EXPENSE), NET

Other income (expense), net consists of the following for the three months ended March 31:



(in thousands)	2020		2019

Interest income	$	74	$	151
Other, net	1,020		223

Total	$	1,094	$	374

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We recognized an income tax (provision) benefit of $(2.4) million and $1.2 million for the three months ended March 31, 2020 and 2019 , respectively. The increase in the income tax provision for the three months ended March 31, 2020 was driven by income tax on transfer pricing income from US and foreign operations other than our Luxembourg operating company and no tax benefit on the pretax loss from our Luxembourg operating company. In addition, the decrease in the India income tax rate resulted in a higher tax provision for the three months ended March 31, 2020 in connection with adjustments to deferred tax assets in India.

LOSS PER SHARE

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

LOSS PER SHARE

Basic loss per share is computed by dividing loss available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net loss per share excludes all dilutive securities because their impact would be anti-dilutive, as described below.

Basic and diluted loss per share are calculated as follows for the three months ended March 31:



(in thousands, except per share data)	2020			2019

Net loss attributable to Altisource	$	(11,650	)	$	(3,184	)

Weighted average common shares outstanding, basic	15,497			16,292

Weighted average common shares outstanding, diluted	15,497			16,292

Loss per share:
Basic	$	(0.75	)	$	(0.20	)
Diluted	$	(0.75	)	$	(0.20	)

For the three months ended March 31, 2020 and 2019 , 1.9 million and 1.4 million , respectively, stock options, restricted shares and restricted share units were excluded from the computation of loss per share, as a result of the following:


•	As a result of the net loss attributable to Altisource for the three months ended March 31, 2020 and 2019 , 0.3 million stock options, restricted shares and restricted share units in each period were excluded from the computation of diluted loss per share, as their impacts were anti-dilutive


•	For the three months ended March 31, 2020 and 2019 , 0.9 million and 0.3 million , respectively, stock options were anti-dilutive and have been excluded from the computation of diluted loss per share because their exercise price was greater than the average market price of our common stock

•

For the three months ended March 31, 2020 and 2019 , 0.8 million 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 in each period have been excluded from the computation of diluted loss per share

RESTRUCTURING CHARGES	3 Months Ended
RESTRUCTURING CHARGES	Mar. 31, 2020
Restructuring Charges [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES In August 2018, Altisource initiated Project Catalyst, a project intended to optimize its operations and reduce costs to better align its cost structure with its anticipated revenues and improve its operating margins. During the three months ended March 31, 2020 and 2019 , Altisource incurred $2.9 million and $4.4 million , respectively, of severance costs, professional services fees, facility consolidation costs, technology costs and business wind down costs related to the reorganization plan. 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 $8 million to $11 million .

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS

3 Months Ended

Mar. 31, 2020

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 existing court precedent. During the three months ended March 31, 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 net loss for the three months ended March 31, 2019 in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive loss ( no comparative amount for the three months ended March 31, 2020). The Company began invoicing, collecting and remitting sales tax in applicable jurisdictions in 2019. The Company is also in the process of seeking additional reimbursements 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 additional 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 months ended March 31, 2020 , Ocwen was our largest customer, accounting for 61% of our total revenue. Additionally, 6% of our revenue for the three months ended March 31, 2020 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, 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. In addition to monetary damages, various complaints have sought to obtain permanent injunctive relief, consumer redress, refunds, restitution, disgorgement, civil penalties, costs and fees and other relief. Existing or future similar matters could result in, and in some cases, have resulted in, adverse regulatory or other actions against Ocwen. Previous regulatory actions against Ocwen have subjected Ocwen to independent oversight of its operations and placed certain restrictions on its ability to acquire servicing rights. In addition to the above, Ocwen may become subject to future adverse regulatory or other actions.

Ocwen has disclosed that NRZ is its largest client. As of December 31, 2019, NRZ owned MSRs or rights to MSRs relating to approximately 56% 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 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 of its GSE and Federal Housing Administration servicing rights or subservicing arrangements or remaining non-GSE servicing rights or subservicing arrangements and Altisource fails to be retained as a service provider


•	The contractual relationship between Ocwen and NRZ changes significantly and this change results in a change in our status as a provider of services related to the Subject MSRs


•	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, we are focused on diversifying and growing our revenue and customer base and we have a sales and marketing strategy to support these efforts. Moreover, 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 and that current liquidity and cash flows from operations would be sufficient to meet our working capital, capital expenditures, debt service and other cash needs. There can be no assurance that our plans will be successful or our operations will be profitable.

Leases

In February 2016, the FASB issued 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 introduced a new lessee model that brings substantially all leases on the balance sheet. 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-of-use assets in right-of-use assets under operating leases, $45.5 million of operating lease 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.

We lease certain premises and equipment, primarily consisting of office space and information technology equipment. 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 $0.3 million and $0.4 million for the three months ended March 31, 2020 and 2019 , respectively. The amortization period of right-of-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 March 31, 2020

Weighted average remaining lease term (in years)	2.98
Weighted average discount rate	7.16	%

Our lease activity during the period is as follows:



(in thousands)	Three months ended March 31, 2020		Three months ended March 31, 2019

Operating lease costs:
Selling, general and administrative expense	$	2,281	$	3,566
Cost of revenue	634		969

Cash used in operating activities for amounts included in the measurement of lease liabilities	$	3,311	$	4,737
Short-term (less than one year) lease costs	1,205		1,157

Maturities of our lease liabilities as of March 31, 2020 are as follows:



(in thousands)	Operating lease obligations

2020	$	8,728
2021	8,691
2022	5,623
2023	4,584
2024	2,864
Thereafter	599
Total lease payments	31,089
Less: interest	(3,642		)

Present value of lease liabilities	$	27,447

Escrow Balances

We hold customers’ assets in escrow accounts at various financial institutions pending completion of certain real estate activities. These amounts are held in escrow accounts for limited periods of time and are not included in the accompanying condensed consolidated balance sheets. Amounts held in escrow accounts were $51.8 million and $12.3 million as of March 31, 2020 and December 31, 2019 , respectively.

SUBSEQUENT EVENT	3 Months Ended
SUBSEQUENT EVENT	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT The Company began experiencing the negative impacts of the COVID-19 pandemic late in the first quarter of 2020. While we cannot predict the duration or extent of the impact, the Company has undertaken several measures, in addition to cost reduction activities, some of which were planned prior to the pandemic, to reduce its 2020 cash expenses (collectively, “Cost Reduction Measures”). Based upon these Cost Reduction Measures, the Company anticipates further reducing its 2020 cash expenses, excluding outside fees and services that generally decline proportionately with a decline in service referrals. As part of these measures, Altisource’s Chairman and Chief Executive Officer agreed to forgo 40% of his base salary beginning April 1, 2020 through December 31, 2020, Altisource reduced the cash compensation to the members of the Board of Directors by 50% beginning April 1, 2020 through December 31, 2020, reduced the compensation of other named executive officers, all direct reports to the Chairman and Chief Executive Officer and many other employees in an amount between 5% and 25% of base salary, and has plans to furlough or eliminate the positions of 16% of the workforce.

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	3 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION (Policies)	Mar. 31, 2020
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. 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 Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This standard simplified the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Prior guidance required 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 requires 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. The Company adopted this standard effective January 1, 2020 and is applied prospectively. Adoption of this new standard did not have 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 modified 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. The Company adopted this standard effective January 1, 2020. Adoption of this new standard did not have any impact on the Company’s 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. The Company adopted this standard effective January 1, 2020 and is applied prospectively. Adoption of this new standard did not have any impact on the Company’s condensed consolidated financial statements. Future Adoption of New Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This standard is part of the FASB’s initiative to reduce complexity in accounting standards by instituting several simplifying provisions and removing several exceptions pertaining to income tax accounting. This standard will be effective for annual periods beginning after December 15, 2020, including interim periods within that reporting period. Early adoption of this standard is permitted. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This standard applies only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. This standard provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting, in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of LIBOR. This standard is effective from the period from March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a topic or an industry subtopic, the standard must be applied prospectively for all eligible contract modifications for that topic or industry subtopic. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements.

- Definition

Disclosure of accounting policy for determining the fair value of financial instruments.

+ References + Details

ACCOUNTS RECEIVABLE, NET (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of accounts receivable, net

Accounts receivable, net consists of the following:



(in thousands)	March 31, 2020			December 31, 2019

Billed	$	36,388		$	35,921
Unbilled	12,002			12,166
	48,390			48,087
Less: Allowance for credit losses	(4,814		)	(4,472		)

Total	$	43,576		$	43,615

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

3 Months Ended

Mar. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of prepaid expenses and other current assets

Prepaid expenses and other current assets consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Maintenance agreements, current portion	$	1,845	$	1,923
Income taxes receivable	2,605		5,098
Prepaid expenses	6,972		3,924
Other current assets	6,238		4,269

Total	$	17,660	$	15,214

PREMISES AND EQUIPMENT, NET (Tables)

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of premises and equipment, net

Premises and equipment, net consists of the following:



(in thousands)	March 31, 2020			December 31, 2019

Computer hardware and software	$	137,838		$	144,608
Leasehold improvements	21,756			23,800
Furniture and fixtures	7,893			8,775
Office equipment and other	3,632			4,004
	171,119			181,187
Less: Accumulated depreciation and amortization	(150,135		)	(156,661		)

Total	$	20,984		$	24,526

Schedule of premises and equipment, net by country

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



(in thousands)	March 31, 2020		December 31, 2019

United States	$	11,305	$	13,426
Luxembourg	8,819		10,295
India	660		671
Philippines	86		95
Other	114		39

Total	$	20,984	$	24,526

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References + Details

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Right-of-Use Assets Under Operating Leases

Right-of-use assets under operating leases consist of the following:



(in thousands)	March 31, 2020			December 31, 2019

Right-of-use assets under operating leases	$	39,161		$	39,729
Less: Accumulated amortization	(13,097		)	(10,655		)

Total	$	26,064		$	29,074

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in goodwill

Goodwill during the three months ended March 31, 2020 is as follows:



(in thousands)	Total

Balance as of March 31, 2020 and December 31, 2019	$	73,849

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)	March 31, 2020		December 31, 2019		March 31, 2020			December 31, 2019			March 31, 2020		December 31, 2019

Definite lived intangible assets:
Customer related intangible assets	9	$	214,973	$	214,973	$	(179,164	)	$	(176,043	)	$	35,809	$	38,930
Operating agreement	20	35,000		35,000		(17,814		)	(17,376		)	17,186		17,624
Trademarks and trade names	16	9,709		9,709		(5,996		)	(5,893		)	3,713		3,816
Non-compete agreements	4	1,230		1,230		(1,221		)	(1,215		)	9		15
Intellectual property	—	—		300		—			(175		)	—		125
Other intangible assets	5	1,800		3,745		(1,680		)	(3,209		)	120		536

Total		$	262,712	$	264,957	$	(205,875	)	$	(203,911	)	$	56,837	$	61,046

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References + Details

OTHER ASSETS (Tables)

3 Months Ended

Mar. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of other assets

Other assets consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Security deposits	$	3,019	$	3,473
Restricted cash	3,810		3,842
Other	1,183		3,495

Total	$	8,012	$	10,810

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

3 Months Ended

Mar. 31, 2020

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Accounts payable	$	23,026	$	22,431
Accrued expenses - general	24,387		24,558
Accrued salaries and benefits	14,317		18,982
Income taxes payable	2,928		1,700

Total	$	64,658	$	67,671

Schedule of other current liabilities

Other current liabilities consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Operating lease liabilities	$	11,406	$	11,398
Unfunded cash account balances	1,687		1,820
Other	1,489		1,506

Total	$	14,582	$	14,724

LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consists of the following:



(in thousands)	March 31, 2020			December 31, 2019

Senior secured term loans	$	293,826		$	293,826
Less: Debt issuance costs, net	(2,935		)	(3,119		)
Less: Unamortized discount, net	(2,658		)	(2,825		)

Long-term debt	$	288,233		$	287,882

- 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
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

OTHER NON-CURRENT LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2020

Other Liabilities Disclosure [Abstract]

Schedule of other non-current liabilities

Other non-current liabilities consist of the following:



(in thousands)	March 31, 2020		December 31, 2019

Operating lease liabilities	$	16,041	$	19,707
Income tax liabilities	10,557		10,935
Deferred revenue	261		88
Other non-current liabilities	305		286

Total	$	27,164	$	31,016

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2020

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:



	March 31, 2020								December 31, 2019
(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	$	79,098	$	79,098	$	—	$	—	$	82,741	$	82,741	$	—	$	—
Restricted cash	3,810		3,810		—		—		3,842		3,842		—		—
Investment in equity securities	41,271		41,271		—		—		42,618		42,618		—		—
Short-term receivable (Note 3)	2,410		—		—		2,410		—		—		—		—
Long-term receivable (Note 3)	—		—		—		—		2,371		—		—		2,371

Liabilities:
Senior secured term loan	293,826		—		220,370		—		293,826		—		277,666		—

- 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

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+ Details

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

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

The following table summarizes the total intrinsic value of stock options exercised and the grant date fair value of stock options that vested during the periods presented:



	Three months ended March 31,
(in thousands, except per share amounts)	2020		2019

Intrinsic value of options exercised	$	—	$	10
Grant date fair value of stock options that vested	1,650		2,182

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, 2019	1,468,046		$	29.19	4.60	$	94
Forfeited/expired	(119,816	)	21.89

Outstanding as of March 31, 2020	1,348,230		29.84		4.68	—

Exercisable as of March 31, 2020	909,530		26.88		3.63	—

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, 2019	636,146
Granted	296,101
Issued	(105,381	)
Forfeited/canceled	(76,099	)

Outstanding as of March 31, 2020	750,767

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References + Details

REVENUE (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of revenue

The components of revenue were as follows for the three months ended March 31:



(in thousands)	2020		2019

Service revenue	$	113,176	$	164,999
Reimbursable expenses	7,845		4,496
Non-controlling interests	423		440

Total	$	121,444	$	169,935

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 March 31, 2020	$	108,008	$	5,591	$	7,845	$	121,444
Three months ended March 31, 2019	147,755		17,684		4,496		169,935

COST OF REVENUE (Tables)

3 Months Ended

Mar. 31, 2020

Cost of Revenue [Abstract]

Schedule of components of cost of revenue

The components of cost of revenue were as follows for the three months ended March 31:



(in thousands)	2020		2019

Compensation and benefits	$	25,916	$	41,368
Outside fees and services	48,140		62,581
Technology and telecommunications	9,232		9,478
Reimbursable expenses	7,845		4,496
Depreciation and amortization	3,448		4,198
Cost of real estate sold	—		2,094

Total	$	94,581	$	124,215

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Tables)

3 Months Ended

Mar. 31, 2020

Selling, General and Administrative Expense [Abstract]

Schedule of the components of selling, general and administrative expenses

The components of selling, general and administrative expenses were as follows for the three months ended March 31:



(in thousands)	2020		2019

Compensation and benefits	$	12,012	$	11,353
Occupancy related costs	5,421		7,474
Amortization of intangible assets	4,209		8,647
Professional services	2,635		5,476
Marketing costs	1,437		2,932
Depreciation and amortization	669		1,433
Other	1,710		4,611

Total	$	28,093	$	41,926

OTHER INCOME (EXPENSE), NET (Tables)

3 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

Schedule of other income (expense), net

Other income (expense), net consists of the following for the three months ended March 31:



(in thousands)	2020		2019

Interest income	$	74	$	151
Other, net	1,020		223

Total	$	1,094	$	374

LOSS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of basic and diluted EPS calculation

Basic and diluted loss per share are calculated as follows for the three months ended March 31:



(in thousands, except per share data)	2020			2019

Net loss attributable to Altisource	$	(11,650	)	$	(3,184	)

Weighted average common shares outstanding, basic	15,497			16,292

Weighted average common shares outstanding, diluted	15,497			16,292

Loss per share:
Basic	$	(0.75	)	$	(0.20	)
Diluted	$	(0.75	)	$	(0.20	)

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Lease term and assumption

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



	As of March 31, 2020

Weighted average remaining lease term (in years)	2.98
Weighted average discount rate	7.16	%

Lease activity during period

Our lease activity during the period is as follows:



(in thousands)	Three months ended March 31, 2020		Three months ended March 31, 2019

Operating lease costs:
Selling, general and administrative expense	$	2,281	$	3,566
Cost of revenue	634		969

Cash used in operating activities for amounts included in the measurement of lease liabilities	$	3,311	$	4,737
Short-term (less than one year) lease costs	1,205		1,157

Maturities of operating lease liabilities

Maturities of our lease liabilities as of March 31, 2020 are as follows:



(in thousands)	Operating lease obligations

2020	$	8,728
2021	8,691
2022	5,623
2023	4,584
2024	2,864
Thereafter	599
Total lease payments	31,089
Less: interest	(3,642		)

Present value of lease liabilities	$	27,447

ORGANIZATION AND BASIS OF PRESENTATION (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 29, 2019 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) term
Summary of significant accounting policies
Total assets		$ 368,595	$ 385,119
Contributions for the creation of Pointillist	$ 8,500
Variable Interest Entity, Primary Beneficiary
Summary of significant accounting policies
Number of terms \| term			3
Agreement term		5 years
Total assets		$ 2,000	$ 1,600
Total liabilities		$ 600	$ 300
Pointillist Management \| Pointillist, Inc.
Summary of significant accounting policies
Noncontrolling ownership percentage		12.10%

CUSTOMER CONCENTRATION (Details) - USD ($) $ in Thousands		3 Months Ended
CUSTOMER CONCENTRATION (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Concentration Risk
Revenue		$ 121,444	$ 169,935
Ocwen \| NRZ
Concentration Risk
Subservice transferred subject MSRs, initial term		5 years
Customer Concentration Risk \| Ocwen
Concentration Risk
Accounts receivable		$ 21,400		$ 19,100
Customer Concentration Risk \| Ocwen \| Billed
Concentration Risk
Accounts receivable		18,100		15,700
Customer Concentration Risk \| Ocwen \| Unbilled
Concentration Risk
Accounts receivable		$ 3,300		$ 3,400
Customer Concentration Risk \| Ocwen \| Revenue
Concentration Risk
Concentration percentage		61.00%	58.00%
Revenue		$ 74,200	$ 98,300
Customer Concentration Risk \| Ocwen \| Revenue \| NRZ
Concentration Risk
Percentage of loans serviced and subserviced by largest customer's largest client	56.00%
Customer Concentration Risk \| Highly Correlated - Ocwen \| Revenue
Concentration Risk
Concentration percentage		6.00%
Revenue		$ 7,800	11,100
Customer Concentration Risk \| NRZ \| Revenue
Concentration Risk
Revenue		2,700	4,000
Customer Concentration Risk \| Highly Correlated - NRZ \| Revenue
Concentration Risk
Revenue		$ 12,000	17,700
Maximum \| Ocwen \| Supplier Concentration Risk \| Service Renewals
Concentration Risk
Concentration percentage		100.00%
Minimum \| Ocwen \| Supplier Concentration Risk \| Service Renewals
Concentration Risk
Concentration percentage		90.00%
REALServicing \| Ocwen
Concentration Risk
Revenue		$ 900	$ 8,200

SALE OF BUSINESSES (Details) - Discontinued Operations, Disposed of by Sale - USD ($) $ in Millions	Jul. 01, 2019	Aug. 08, 2018	Mar. 31, 2020	Dec. 31, 2019
Financial Services Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds from the sale of business	$ 44.0
Up-front payment included in consideration, subject to working capital adjustment upon closing of the sale	40.0
Additional payment to be received on one-year anniversary of the sale closing	$ 4.0
Rental Property Management Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds from the sale of business		$ 18.0
Proceeds from the sale of business, first installment		15.0
Future proceeds from the sale of business, second installment		$ 3.0
Present value of second installment			$ 2.4	$ 2.4
Minimum \| Financial Services Business
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
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services agreement term	1 year 30 days

INVESTMENT IN EQUITY SECURITIES (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions		3 Months Ended		12 Months Ended
	Feb. 17, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2016	Dec. 31, 2019
Marketable Securities [Line Items]
Investment in equity securities		$ 41,271			$ 42,618
Unrealized gain (loss) from change in fair value		$ (1,347)	$ 2,238
RESI
Marketable Securities [Line Items]
Number of investment shares acquired (in shares)				4.1
Number of securities outstanding (in shares)		3.5			3.5
Investment in equity securities		$ 41,300			$ 42,600
Unrealized gain (loss) from change in fair value		(1,300)	2,200
Investment income, dividend		$ 500	$ 600
Price of shares in merger agreement (in dollars per share)	$ 12.50

ACCOUNTS RECEIVABLE, NET (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounts receivable, net
Accounts receivable, gross	$ 48,390	$ 48,087
Less: Allowance for credit losses	(4,814)	(4,472)
Total	43,576	43,615
Billed
Accounts receivable, net
Accounts receivable, gross	36,388	35,921
Unbilled
Accounts receivable, net
Accounts receivable, gross	$ 12,002	$ 12,166

- Definition

Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of allowance for credit loss on accounts receivable, classified as current.

+ References + Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Maintenance agreements, current portion	$ 1,845	$ 1,923
Income taxes receivable	2,605	5,098
Prepaid expenses	6,972	3,924
Other current assets	6,238	4,269
Total	$ 17,660	$ 15,214

- Definition

Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes.

+ References + Details

- Definition

Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.

+ References + Details

- Definition

Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.

+ References + Details

PREMISES AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 171,119		$ 181,187
Less: Accumulated depreciation and amortization	(150,135)		(156,661)
Total	20,984		24,526
Depreciation and amortization expense	4,100	$ 5,600
Computer hardware and software
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	137,838		144,608
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	21,756		23,800
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	7,893		8,775
Office equipment and other
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 3,632		$ 4,004

- Definition

Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.

+ References + Details

- Definition

The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.

+ References + Details

- Definition

Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.

+ References + Details

- Definition

Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.

+ References + Details

PREMISES AND EQUIPMENT, NET - Summary by Country (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total	$ 20,984	$ 24,526
United States
Property, Plant and Equipment [Line Items]
Total	11,305	13,426
Luxembourg
Property, Plant and Equipment [Line Items]
Total	8,819	10,295
India
Property, Plant and Equipment [Line Items]
Total	660	671
Philippines
Property, Plant and Equipment [Line Items]
Total	86	95
Other
Property, Plant and Equipment [Line Items]
Total	$ 114	$ 39

- Definition

+ References + Details

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Right-of-use assets under operating leases	$ 39,161		$ 39,729
Less: Accumulated amortization	(13,097)		(10,655)
Total	26,064		$ 29,074	$ 42,100
Amortization of right-of-use assets under operating leases	$ 2,706	$ 3,738

GOODWILL AND INTANGIBLE ASSETS, NET - Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Ending Balance	$ 73,849	$ 73,849

GOODWILL AND INTANGIBLE ASSETS, NET - Intangible assets, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Intangible Assets, Net
Gross carrying amount	$ 262,712		$ 264,957
Accumulated amortization	(205,875)		(203,911)
Net book value	56,837		61,046
Amortization expense for definite lived intangible assets	4,209	$ 8,647
2020	13,900
2021	10,300
2022	5,100
2023	5,100
2024	5,100
Customer related intangible assets
Intangible Assets, Net
Gross carrying amount	214,973		214,973
Accumulated amortization	(179,164)		(176,043)
Net book value	35,809		38,930
Operating agreement
Intangible Assets, Net
Gross carrying amount	35,000		35,000
Accumulated amortization	(17,814)		(17,376)
Net book value	17,186		17,624
Trademarks and trade names
Intangible Assets, Net
Gross carrying amount	9,709		9,709
Accumulated amortization	(5,996)		(5,893)
Net book value	3,713		3,816
Non-compete agreements
Intangible Assets, Net
Gross carrying amount	1,230		1,230
Accumulated amortization	(1,221)		(1,215)
Net book value	9		15
Intellectual property
Intangible Assets, Net
Gross carrying amount	0		300
Accumulated amortization	0		(175)
Net book value	0		125
Other intangible assets
Intangible Assets, Net
Gross carrying amount	1,800		3,745
Accumulated amortization	(1,680)		(3,209)
Net book value	$ 120		$ 536
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)	16 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)	0 years
Weighted Average \| Other intangible assets
Intangible Assets, Net
Weighted average estimated useful life (in years)	5 years

OTHER ASSETS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Security deposits	$ 3,019	$ 3,473
Restricted cash	3,810	3,842
Other	1,183	3,495
Total	$ 8,012	$ 10,810

- Definition

Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as noncurrent. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6812-107765

Reference 2: 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(17))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=98513485&loc=SL98516268-108586

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 954
-SubTopic 210
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=116631420&loc=SL116631458-115580

+ Details

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accounts payable	$ 23,026	$ 22,431
Accrued expenses - general	24,387	24,558
Accrued salaries and benefits	14,317	18,982
Income taxes payable	2,928	1,700
Total	$ 64,658	$ 67,671

- Definition

Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.

+ References + Details

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Other current liabilities
Operating lease liabilities	$ 11,406	$ 11,398	$ 16,700
Unfunded cash account balances	1,687	1,820
Other	1,489	1,506
Total	$ 14,582	$ 14,724

- Definition

Carrying value as of the balance sheet date of payments made in excess of existing cash balances, which will be honored by the bank but reflected as a loan to the entity. Overdrafts generally have a very short time frame for correction or repayment and are therefore more similar to short-term bank financing than trade financing.

+ References + Details

- Definition

Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer.

+ References + Details

- Definition

Obligations not otherwise itemized or categorized in the footnotes to the financial statements that are due within one year or operating cycle, if longer, from the balance sheet date.

+ References + Details

LONG-TERM DEBT (Details)		3 Months Ended
LONG-TERM DEBT (Details)	Apr. 03, 2018 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Less: Debt issuance costs, net		$ (2,935,000)	$ (3,119,000)
Less: Unamortized discount, net		(2,658,000)	(2,825,000)
Long-term debt		288,233,000	287,882,000
Debt issuance costs, net		2,935,000	3,119,000
Accumulated amortization		1,600,000	1,400,000
Senior secured term loan
Debt Instrument [Line Items]
Outstanding balance of debt		293,826,000	$ 293,826,000
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
April 3, 2018 Credit Agreement \| Term B loans
Debt Instrument [Line Items]
Debt instrument, face amount	$ 412,000,000
First repayment of debt due		1,300,000
Aggregate amount of each consecutive quarterly scheduled principal installment		$ 3,100,000
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		5.45%
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	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	3.00%
April 3, 2018 Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding balance of debt		$ 0
Debt instrument, face amount	$ 15,000,000
Leverage ratio at which mandatory prepayments increase under the Credit Agreement (exceeds)	3.5
Potential increase in additional borrowings	$ 125,000,000
Potential increase in additional borrowings, sublimit	$ 80,000,000
Unused commitment fee	0.50%
April 3, 2018 Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Adjusted Eurodollar Rate
Debt Instrument [Line Items]
Interest rate margin	4.00%
April 3, 2018 Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Base Rate
Debt Instrument [Line Items]
Interest rate margin	3.00%

OTHER NON-CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Other Liabilities Disclosure [Abstract]
Operating lease liabilities	$ 16,041	$ 19,707	$ 28,800
Income tax liabilities	10,557	10,935
Deferred revenue	261	88
Other non-current liabilities	305	286
Total	$ 27,164	$ 31,016

- Definition

Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable.

+ References + Details

- Definition

Obligations not otherwise itemized or categorized in the footnotes to the financial statements that are expected to be paid after one year (or the normal operating cycle, if longer), from the balance sheet date.

+ References + Details

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 79,098	$ 82,741
Restricted cash	3,810	3,842
Investment in equity securities	41,271	42,618
Short-term receivable (Note 3)	2,410	0
Long-term receivable (Note 3)	0	2,371
Level 1 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	79,098	82,741
Restricted cash	3,810	3,842
Investment in equity securities	41,271	42,618
Short-term receivable (Note 3)	0	0
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
Short-term receivable (Note 3)	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
Short-term receivable (Note 3)	2,410	0
Long-term receivable (Note 3)	0	2,371
Senior secured term loan
Liabilities:
Senior secured term loan	293,826	293,826
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	220,370	277,666
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
	Aug. 08, 2018	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenue \| Customer Concentration Risk \| Ocwen
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of revenue from largest customer		61.00%	58.00%
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)		3.5		3.5

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION - Stock Repurchase Plan & Share-Based Compensation (Details) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended
	May 15, 2018 $ / shares shares	Feb. 28, 2019 shares	Mar. 31, 2020 USD ($) component $ / shares shares	Mar. 31, 2019 USD ($) shares	Dec. 31, 2019 shares
Share Repurchase Program
Authorized amount (in dollars) \| $			$ 98,000
Capacity available to repurchase common stock under senior secured term loan \| $			452,000
Share-Based Compensation
Share-based compensation expense \| $			2,894	$ 2,621
Estimated unrecognized compensation costs \| $			$ 10,800
Weighted average remaining requisite service period for stock options over which unrecognized compensation costs would be recognized			1 year 8 months 5 days
Outstanding (in shares)			1,348,230		1,468,046
Stock options granted (in shares)			0	0
Weighted average fair value of stock options granted and total intrinsic value of stock options exercised
Intrinsic value of options exercised \| $			$ 0	$ 10
Grant date fair value of stock options that vested \| $			$ 1,650	$ 2,182
Employee and non-employee stock options
Share-Based Compensation
Performance criteria achieved (in shares)		228,000
Employee and non-employee stock options \| Service-Based
Share-Based Compensation
Outstanding (in shares)			388,000
Employee and non-employee stock options \| Service-Based \| Minimum
Share-Based Compensation
Vesting period			3 years
Employee and non-employee stock options \| Service-Based \| Maximum
Share-Based Compensation
Vesting period			4 years
Expiration term			10 years
Employee and non-employee stock options \| Market-Based
Share-Based Compensation
Outstanding (in shares)			496,000
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
Vesting period			3 years
Expiration term			10 years
Employee and non-employee stock options \| Market-Based \| Maximum
Share-Based Compensation
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)			464,000
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)			750,767		636,146
Restricted share units granted (in shares)			296,101
Restricted share units granted, weighted average grant date fair value (in usd per share) \| $ / shares			$ 18.29
Restricted Stock And Restricted Stock Units (RSUs) \| Service-Based
Share-Based Compensation
Restricted shares and restricted share units outstanding (in shares)			476,000
Restricted Stock And Restricted Stock Units (RSUs) \| Service-Based \| Minimum
Share-Based Compensation
Vesting period			2 years
Restricted Stock And Restricted Stock Units (RSUs) \| Service-Based \| Maximum
Share-Based Compensation
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)			275,000
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%
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)			2,400,000
Number of shares of common stock purchased (in shares)			0	0

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION - Summary of Activity related to our stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Number of options
Outstanding at the beginning of the period (in shares)	1,468,046
Forfeited/expired (in shares)	(119,816)
Outstanding at the end of the period (in shares)	1,348,230	1,468,046
Exercisable at the end of the period (in shares)	909,530
Weighted average exercise price
Outstanding at the beginning of the period (in usd per share)	$ 29.19
Forfeited/expired (in usd per share)	21.89
Outstanding at the end of the period (in usd per share)	29.84	$ 29.19
Exercisable at the end of the period (in usd per share)	$ 26.88
Weighted average contractual term (in years)
Weighted average contractual term	4 years 8 months 5 days	4 years 6 months 35 days
Exercisable at the end of the period	3 years 7 months 17 days
Aggregate intrinsic value (in thousands)
Aggregate intrinsic value, beginning balance (in dollars)	$ 94
Aggregate intrinsic value, ending balance (in dollars)	0	$ 94
Exercisable at the end of the period (in dollars)	$ 0

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION - RSU (Details) - Restricted Stock And Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2020 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)	636,146
Granted (in shares)	296,101
Issued (in shares)	(105,381)
Forfeited/canceled (in shares)	(76,099)
Outstanding at the end of period (in shares)	750,767

- Definition

Number of equity instruments other than options outstanding, including both vested and non-vested instruments.

+ References + Details

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Schedule of revenue [Line Items]
Revenue	$ 121,444	$ 169,935
Service revenue
Schedule of revenue [Line Items]
Revenue	113,176	164,999
Reimbursable expenses
Schedule of revenue [Line Items]
Revenue	7,845	4,496
Non-controlling interests
Schedule of revenue [Line Items]
Revenue	$ 423	$ 440

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References + Details

REVENUE - Disaggregation of revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 121,444	$ 169,935
Revenue recognized when services are performed or assets are sold
Disaggregation of Revenue [Line Items]
Revenue	108,008	147,755
Revenue related to technology platforms and professional services
Disaggregation of Revenue [Line Items]
Revenue	5,591	17,684
Reimbursable expenses revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 7,845	$ 4,496

- Definition

+ References + Details

REVENUE REVENUE - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included in the contract liability at the beginning of the period	$ 2.5	$ 4.9

COST OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
COST OF REVENUE (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Cost of Revenue [Abstract]
Compensation and benefits	$ 25,916	$ 41,368
Outside fees and services	48,140	62,581
Technology and telecommunications	9,232	9,478
Reimbursable expenses	7,845	4,496
Depreciation and amortization	3,448	4,198
Cost of real estate sold	0	2,094
Total	$ 94,581	$ 124,215

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Selling, General and Administrative Expense [Abstract]
Compensation and benefits	$ 12,012	$ 11,353
Occupancy related costs	5,421	7,474
Amortization of intangible assets	4,209	8,647
Professional services	2,635	5,476
Marketing costs	1,437	2,932
Depreciation and amortization	669	1,433
Other	1,710	4,611
Total	$ 28,093	$ 41,926

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.

+ References + Details

- Definition

Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense.

+ References + Details

- Definition

A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer.

+ References + Details

- Definition

The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.

+ References + Details

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Abstract]
Interest income	$ 74	$ 151
Other, net	1,020	223
Total	$ 1,094	$ 374

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax provision	$ 2,421	$ (1,222)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

LOSS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net loss attributable to Altisource	$ (11,650)	$ (3,184)
Weighted average common shares outstanding, basic (in shares)	15,497	16,292
Weighted average common shares outstanding, diluted (in shares)	15,497	16,292
Loss per share:
Basic (in usd per share)	$ (0.75)	$ (0.20)
Diluted (in usd per share)	$ (0.75)	$ (0.20)
Anti-dilutive securities
Options, restricted shares and restricted share units excluded from the computation of diluted EPS (in shares)	1,900	1,400
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
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)	900	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	800

RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	3 Months Ended
RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,925	$ 4,420
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected future cost (approximate)	8,000
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected future cost (approximate)	$ 11,000

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Details) - USD ($)		3 Months Ended
	Jun. 30, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Concentration Risk
Loss related to sales tax exposure		$ 0	$ 2,100,000
Amounts held in escrow and trust accounts		$ 51,800,000		$ 12,300,000
Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer		61.00%	58.00%
NRZ \| Ocwen
Concentration Risk
Subservice transferred subject MSRs, initial term		5 years
NRZ \| Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of loans serviced and subserviced by largest customer's largest client	56.00%

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Right-to-use assets	$ 26,064		$ 29,074	$ 42,100
Lease obligation liabilities				45,500
Sublease income	$ 300	$ 400
Reduction in reduced accrued rent and lease incentives				$ 3,400
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	6 years

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Term and Assumption (Details)	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term (in years)	2 years 11 months 23 days
Weighted average discount rate	7.16%

- Definition

Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.

+ References + Details

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Cash used in operating activities for amounts included in the measurement of lease liabilities	$ 3,311	$ 4,737
Short-term (less than one year) lease costs	1,205	1,157
Selling, general and administrative expense
Lessee, Lease, Description [Line Items]
Operating lease costs	2,281	3,566
Cost of revenue
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 634	$ 969

- Definition

Amount of single lease cost, calculated by allocation of remaining cost of lease over remaining lease term. Includes, but is not limited to, single lease cost, after impairment of right-of-use asset, calculated by amortization of remaining right-of-use asset and accretion of lease liability.

+ References + Details

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 8,728
2021	8,691
2022	5,623
2023	4,584
2024	2,864
Thereafter	599
Total lease payments	31,089
Less: interest	(3,642)
Present value of lease liabilities	$ 27,447

SUBSEQUENT EVENT (Details) - Subsequent Event	9 Months Ended
SUBSEQUENT EVENT (Details) - Subsequent Event	Dec. 31, 2020
Subsequent Event [Line Items]
Percentage of workforce to be furloughed	16.00%
Chief Executive Officer
Subsequent Event [Line Items]
Decrease in salary	40.00%
Directors
Subsequent Event [Line Items]
Decrease in salary	50.00%
Minimum \| Officers
Subsequent Event [Line Items]
Decrease in salary	5.00%
Maximum \| Officers
Subsequent Event [Line Items]
Decrease in salary	25.00%

Label	Element	Value
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	$ 620,000
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	2,621,000
Stock Issued During Period, Value, Stock Options Exercised and Restricted Shares Issued	asps_StockIssuedDuringPeriodValueStockOptionsExercisedandRestrictedSharesIssued	28,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	585,000
Noncontrolling Interest [Member]
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	620,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	440,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1,057,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1,237,000
Treasury Stock [Member]
Stock Issued During Period, Value, Stock Options Exercised and Restricted Shares Issued	asps_StockIssuedDuringPeriodValueStockOptionsExercisedandRestrictedSharesIssued	1,577,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(578,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	(441,149,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ (443,304,000)
Common Stock [Member]
Shares, Issued	us-gaap_SharesIssued	25,413,000
Shares, Issued	us-gaap_SharesIssued	25,413,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 25,413,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	25,413,000
Additional Paid-in Capital [Member]
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	2,621,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	125,288,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	122,667,000
Retained Earnings [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	(3,184,000)
Stock Issued During Period, Value, Stock Options Exercised and Restricted Shares Issued	asps_StockIssuedDuringPeriodValueStockOptionsExercisedandRestrictedSharesIssued	(1,549,000)
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	1,163,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	584,759,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 590,655,000