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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	1-34354
Entity Registrant Name	ALTISOURCE PORTFOLIO SOLUTIONS S.A.
Entity Incorporation, State or Country Code	N4
Entity Tax Identification Number	98-0554932
Entity Address, Address Line One	40, avenue Monterey
Entity Address, Postal Zip Code	L-2163
Entity Address, City or Town	Luxembourg
Entity Address, Country	LU
City Area Code	352
Local Phone Number	24 69 79 00
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	ASPS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,631,557
Entity Central Index Key	0001462418
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 68,177	$ 82,741
Investment in equity securities	30,047	42,618
Accounts receivable, net	35,337	43,615
Prepaid expenses and other current assets	14,157	15,214
Total current assets	147,718	184,188
Premises and equipment, net	18,661	24,526
Right-of-use assets under operating leases, net	22,843	29,074
Goodwill	73,849	73,849
Intangible assets, net	53,997	61,046
Other assets	11,281	12,436
Total assets	328,349	385,119
Current liabilities:
Accounts payable and accrued expenses	61,406	67,671
Deferred revenue	5,203	5,183
Other current liabilities	11,991	14,724
Total current liabilities	78,600	87,578
Long-term debt	288,581	287,882
Other non-current liabilities	26,018	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 15,629 outstanding as of June 30, 2020; 15,454 outstanding as of December 31, 2019)	25,413	25,413
Additional paid-in capital	138,493	133,669
Retained earnings	213,023	272,026
Treasury stock, at cost (9,784 shares as of June 30, 2020 and 9,959 shares as of December 31, 2019)	(443,059)	(453,934)
Altisource deficit	(66,130)	(22,826)
Non-controlling interests	1,280	1,469
Total deficit	(64,850)	(21,357)
Total liabilities and deficit	$ 328,349	$ 385,119

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 1	$ 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)	15,629,000	15,454,000
Treasury stock, shares (in shares)	9,784,000	9,959,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 95,342	$ 196,535	$ 216,786	$ 366,470
Cost of revenue	82,628	152,714	177,209	276,929
Gross profit	12,714	43,821	39,577	89,541
Operating expenses:
Selling, general and administrative expenses	24,701	36,516	52,794	78,442
Restructuring charges	5,769	1,899	8,694	6,319
(Loss) income from operations	(17,756)	5,406	(21,911)	4,780
Other income (expense), net
Interest expense	(4,446)	(5,812)	(9,162)	(11,764)
Unrealized (loss) gain on investment in equity securities	(11,224)	11,787	(12,571)	14,025
Other (expense) income, net	(321)	528	773	902
Total other income (expense), net	(15,991)	6,503	(20,960)	3,163
(Loss) income before income taxes and non-controlling interests	(33,747)	11,909	(42,871)	7,943
Income tax provision	(1,117)	(16,513)	(3,538)	(15,291)
Net loss	(34,864)	(4,604)	(46,409)	(7,348)
Net income attributable to non-controlling interests	(197)	(1,240)	(302)	(1,680)
Net loss attributable to Altisource	$ (35,061)	$ (5,844)	$ (46,711)	$ (9,028)
Loss per share:
Basic (in usd per share)	$ (2.25)	$ (0.36)	$ (3.00)	$ (0.56)
Diluted (in usd per share)	$ (2.25)	$ (0.36)	$ (3.00)	$ (0.56)
Weighted average shares outstanding:
Basic (in shares)	15,601	16,214	15,549	16,253
Diluted (in shares)	15,601	16,214	15,549	16,253
Comprehensive loss:
Comprehensive loss, net of tax	$ (34,864)	$ (4,604)	$ (46,409)	$ (7,348)
Comprehensive income attributable to non-controlling interests	(197)	(1,240)	(302)	(1,680)
Comprehensive loss attributable to Altisource	$ (35,061)	$ (5,844)	$ (46,711)	$ (9,028)

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - 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, 2018		25,413
Balance at Dec. 31, 2018	$ 296,668	$ 25,413	$ 122,667	$ 590,655	$ (443,304)	$ 1,237
Increase (Decrease) in Equity
Net loss	(2,744)			(3,184)		440
Distributions to non-controlling interest holders	(620)					(620)
Share-based compensation expense	2,621		2,621
Exercise of stock options and issuance of restricted share units and restricted shares	28			(1,549)	1,577
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances	(585)			(1,163)	578
Balance (in shares) at Mar. 31, 2019		25,413
Balance at Mar. 31, 2019	295,368	$ 25,413	125,288	584,759	(441,149)	1,057
Balance (in shares) at Dec. 31, 2018		25,413
Balance at Dec. 31, 2018	296,668	$ 25,413	122,667	590,655	(443,304)	1,237
Increase (Decrease) in Equity
Net loss	(7,348)
Balance (in shares) at Jun. 30, 2019		25,413
Balance at Jun. 30, 2019	285,872	$ 25,413	128,120	574,040	(443,480)	1,779
Balance (in shares) at Mar. 31, 2019		25,413
Balance at Mar. 31, 2019	295,368	$ 25,413	125,288	584,759	(441,149)	1,057
Increase (Decrease) in Equity
Net loss	(4,604)			(5,844)		1,240
Distributions to non-controlling interest holders	(518)					(518)
Share-based compensation expense	2,832		2,832
Exercise of stock options and issuance of restricted share units and restricted shares	207			(3,473)	3,680
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances	(713)			(1,402)	689
Repurchase of shares	(6,700)				(6,700)
Balance (in shares) at Jun. 30, 2019		25,413
Balance at Jun. 30, 2019	285,872	$ 25,413	128,120	574,040	(443,480)	1,779
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
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	(46,409)
Balance (in shares) at Jun. 30, 2020		25,413
Balance at Jun. 30, 2020	(64,850)	$ 25,413	138,493	213,023	(443,059)	1,280
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
Increase (Decrease) in Equity
Net loss	(34,864)			(35,061)		197
Distributions to non-controlling interest holders	(180)					(180)
Share-based compensation expense	1,930		1,930
Exercise of stock options and issuance of restricted share units and restricted shares	0			(3,177)	3,177
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances	(212)			(1,205)	993
Balance (in shares) at Jun. 30, 2020		25,413
Balance at Jun. 30, 2020	$ (64,850)	$ 25,413	$ 138,493	$ 213,023	$ (443,059)	$ 1,280

- 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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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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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (46,409)	$ (7,348)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	7,701	10,522
Amortization of right-of-use assets under operating leases	5,474	6,793
Amortization of intangible assets	7,049	12,191
Unrealized loss (gain) on investment in equity securities	12,571	(14,025)
Share-based compensation expense	4,824	5,453
Bad debt expense	1,066	131
Amortization of debt discount	333	327
Amortization of debt issuance costs	366	363
Deferred income taxes	261	15,846
Loss on disposal of fixed assets	99	908
Changes in operating assets and liabilities:
Accounts receivable	7,212	(15,789)
Short-term investments in real estate	0	39,459
Prepaid expenses and other current assets	1,057	5,239
Other assets	868	(511)
Accounts payable and accrued expenses	(6,734)	(16,587)
Current and non-current operating lease liabilities	(6,024)	(6,734)
Other current and non-current liabilities	(930)	(3,082)
Net cash (used in) provided by operating activities	(11,216)	33,156
Cash flows from investing activities:
Additions to premises and equipment	(1,466)	(934)
Proceeds received from sale of equity securities	0	6,476
Other	0	1,087
Net cash (used in) provided by investing activities	(1,466)	6,629
Cash flows from financing activities:
Repayments and repurchases of long-term debt	0	(5,810)
Proceeds from stock option exercises	0	235
Purchase of treasury shares	0	(6,700)
Distributions to non-controlling interests	(491)	(1,138)
Payments of tax withholding on issuance of restricted share units and restricted shares	(1,417)	(1,298)
Net cash used in financing activities	(1,908)	(14,711)
Net (decrease) increase in cash, cash equivalents and restricted cash	(14,590)	25,074
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	71,993	89,120
Supplemental cash flow information:
Interest paid	8,463	11,279
Income taxes received, net	(944)	(27)
Acquisition of right-of-use assets with operating lease liabilities	958	6,200
Reduction of right-of-use assets from operating lease modifications or reassessments	(1,715)	(3,409)
Non-cash investing and financing activities:
Net increase (decrease) in payables for purchases of premises and equipment	$ 469	$ (25)

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Jun. 30, 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 June 30, 2020, Lenders One had total assets of $2.4 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 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. 2018-15, 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.

CUSTOMER CONCENTRATION	6 Months Ended
CUSTOMER CONCENTRATION	Jun. 30, 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 and six months ended June 30, 2020, Ocwen was our largest customer, accounting for 61% of our total revenue for the six months ended June 30, 2020 (60% of our revenue for the second quarter of 2020). 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. Revenue from Ocwen primarily consists of revenue earned from the loan portfolios serviced and subserviced by Ocwen when Ocwen engages us as the service provider, and revenue earned directly from Ocwen, pursuant to the Ocwen Services Agreements. For the six months ended June 30, 2020 and 2019, we recognized revenue from Ocwen of $131.6 million and $185.2 million, respectively ($57.4 million and $87.0 million for the second quarter of 2020 and 2019, respectively). Revenue from Ocwen as a percentage of consolidated revenue was 61% and 51% for the six months ended June 30, 2020 and 2019, respectively (60% and 44% for the second quarter of 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 six months ended June 30, 2020 and 2019, we recognized revenue of $12.8 million and $20.3 million, respectively ($5.0 million and $9.2 million for the second quarter of 2020 and 2019, 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. During the second quarter of 2020, Ocwen informed us that an investor had instructed Ocwen to use a field services provider other than Altisource on properties associated with certain MSRs. They indicated that they were instructed to begin the transition in July 2020, and that the transition should be completed in a few months. We believe Ocwen commenced using another field services provider for these properties in July 2020. Based upon the impacted portfolios to date and the designated service provider, Altisource believes that Ocwen received these directions from NRZ, but Ocwen has not confirmed this belief. The timing to complete the transition to the replacement field service provider has not been defined, but we anticipate that there will be an impact to revenue and earnings from the transfer of field services that may be material in future periods. We estimate that $58.2 million and $77.5 million of service revenue from Ocwen for the six months ended June 30, 2020 and 2019, respectively ($27.4 million and $35.1 million for the second quarter of 2020 and 2019, respectively) was derived from Field Services referrals from the NRZ owned portfolios. Without providing the timing or specific services impacted, Ocwen also communicated to Altisource that the same investor plans to direct them to transition certain other default related service referrals to other providers. We estimate that revenue from these certain other default related services represented approximately $20.6 million and $22.5 million of service revenue from Ocwen for the six months ended June 30, 2020 and 2019, respectively ($9.0 million and $10.5 million for the second quarter of 2020 and 2019, respectively). Altisource believes that any action taken by Ocwen to redirect these service referrals breaches Altisource's agreement with Ocwen. We are currently in discussions with Ocwen to address this matter, and have reserved all of our rights with respect to this matter. To address the potential reduction in revenue, Altisource is taking additional measures to reduce its cost structure and strengthen its operations. As of June 30, 2020, accounts receivable from Ocwen totaled $16.3 million, $14.7 million of which was billed and $1.6 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 June 30, 2020, NRZ owned MSRs or rights to MSRs relating to approximately 53% 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 may be terminated by NRZ upon the occurrence of certain specified events. Termination events include, but are not limited to, a breach of the terms of the Brokerage Agreement (including, without limitation, the failure to meet performance standards and non-compliance with law in a material respect), the failure to maintain licenses which failure materially prevents performance of the contract, regulatory allegations of non-compliance resulting in an adversarial proceeding against NRZ, voluntary or involuntary bankruptcy, appointment of a receiver, disclosure in a Form 10-K or Form 10-Q that there is significant uncertainty about Altisource’s ability to continue as a going concern, failure to maintain a specified level of cash and an unapproved change of control. For the six months ended June 30, 2020 and 2019, we recognized revenue from NRZ of $4.6 million and $7.0 million, respectively ($1.9 million and $3.0 million for the second quarter of 2020 and 2019, respectively), under the Brokerage Agreement. For the six months ended June 30, 2020 and 2019, we recognized additional revenue of $19.1 million and $34.1 million, respectively ($7.1 million and $16.4 million for the second quarter of 2020 and 2019, respectively), relating to the Subject MSRs when a party other than NRZ selects Altisource as the service provider.

SALE OF THE FINANCIAL SERVICES BUSINESS	6 Months Ended
SALE OF THE FINANCIAL SERVICES BUSINESS	Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
SALE OF THE FINANCIAL SERVICES BUSINESS	SALE OF THE 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, which was received on July 1, 2020. 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, subject to additional 3 month extensions. 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 July 1, 2020, nearly all of the transition services and technologies have been fully transitioned to TSI. 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	6 Months Ended
INVESTMENT IN EQUITY SECURITIES	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENT IN EQUITY SECURITIES	INVESTMENT IN EQUITY SECURITIES During 2016, we purchased 4.1 million shares of Front Yard Residential Corporation (“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 June 30, 2020 and December 31, 2019, we held 3.5 million shares of RESI common stock. As of June 30, 2020 and December 31, 2019, the fair value of our investment was $30.0 million and $42.6 million, respectively. During the six months ended June 30, 2020 and 2019, we recognized an unrealized (loss) gain from the change in fair value of $(12.6) million and $14.0 million, respectively ($(11.2) million and $11.8 million for the second quarter of 2020 and 2019, respectively). The unrealized gains for the three and six months ended June 30, 2019 included $1.2 million and $1.5 million, respectively, of net gains recognized on RESI shares sold during the second quarter of 2019. During the six months ended June 30, 2020 and 2019, we earned dividends of $0.5 million and $1.2 million, respectively (no comparative amount for the second quarter of 2020 and $0.5 million for the second quarter of 2019), related to this investment. In May 2019, the Company began selling its investment in RESI common stock. During the three and six months ended June 30, 2019, the Company sold 0.6 million shares for net proceeds of approximately $6.5 million (no comparative amount for the three and six months ended June 30, 2020). As required by the senior secured term loan agreement, the Company used the net proceeds to repay a portion of its senior secured term loan. 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. On May 4, 2020, RESI announced the termination of the merger agreement.

ACCOUNTS RECEIVABLE, NET

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Billed	$	30,850		$	35,921
Unbilled	9,800			12,166
	40,650			48,087
Less: Allowance for credit losses	(5,313		)	(4,472		)

Total	$	35,337		$	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

6 Months Ended

Jun. 30, 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)	June 30, 2020		December 31, 2019

Income taxes receivable	$	2,572	$	5,098
Maintenance agreements, current portion	1,340		1,923
Prepaid expenses	5,439		3,924
Other current assets	4,806		4,269

Total	$	14,157	$	15,214

DISCONTINUATION OF LINES OF BUSINESS	6 Months Ended
DISCONTINUATION OF LINES OF BUSINESS	Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUATION OF LINES OF BUSINESS	SALE OF THE 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, which was received on July 1, 2020. 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, subject to additional 3 month extensions. 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 July 1, 2020, nearly all of the transition services and technologies have been fully transitioned to TSI. 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

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

Premises and equipment, net consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Computer hardware and software	$	129,966		$	144,608
Leasehold improvements	21,807			23,800
Furniture and fixtures	7,269			8,775
Office equipment and other	3,798			4,004
	162,840			181,187
Less: Accumulated depreciation and amortization	(144,179		)	(156,661		)

Total	$	18,661		$	24,526

Depreciation and amortization expense amounted to $7.7 million and $10.5 million for the six months ended June 30, 2020 and 2019, respectively ($3.6 million and $4.9 million for the second quarter of 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)	June 30, 2020		December 31, 2019

United States	$	9,779	$	13,426
Luxembourg	7,660		10,295
India	1,030		671
Uruguay	115		39
Philippines	77		95

Total	$	18,661	$	24,526

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES

6 Months Ended

Jun. 30, 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, net consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Right-of-use assets under operating leases	$	38,685		$	39,729
Less: Accumulated amortization	(15,842		)	(10,655		)

Total	$	22,843		$	29,074

Amortization of operating leases was $5.5 million and $6.8 million for the six months ended June 30, 2020 and 2019, respectively, ($2.8 million and $3.1 million for the second quarter of 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

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Goodwill consists of the following:



(in thousands)	Total

Balance as of June 30, 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)	June 30, 2020		December 31, 2019		June 30, 2020			December 31, 2019			June 30, 2020		December 31, 2019

Definite lived intangible assets:
Customer related intangible assets	9	$	214,973	$	214,973	$	(181,367	)	$	(176,043	)	$	33,606	$	38,930
Operating agreement	20	35,000		35,000		(18,251		)	(17,376		)	16,749		17,624
Trademarks and trade names	16	9,709		9,709		(6,099		)	(5,893		)	3,610		3,816
Non-compete agreements	4	1,230		1,230		(1,228		)	(1,215		)	2		15
Intellectual property	—	—		300		—			(175		)	—		125
Other intangible assets	5	1,800		3,745		(1,770		)	(3,209		)	30		536

Total		$	262,712	$	264,957	$	(208,715	)	$	(203,911	)	$	53,997	$	61,046

Amortization expense for definite lived intangible assets was $7.0 million and $12.2 million for six months ended June 30, 2020 and 2019, respectively ($2.8 million and $3.5 million for the second quarter of 2020 and 2019, respectively). Expected annual definite lived intangible asset amortization expense for 2020 through 2024 is $13.7 million, $10.5 million, $5.1 million, $5.1 million and $5.1 million, respectively.

OTHER ASSETS

6 Months Ended

Jun. 30, 2020

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

OTHER ASSETS

Other assets consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Restricted cash	$	3,816	$	3,842
Security deposits	2,777		3,473
Deferred tax assets, net	1,126		1,626
Other	3,562		3,495

Total	$	11,281	$	12,436

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accounts payable and accrued expenses consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Accounts payable	$	20,926	$	22,431
Accrued expenses - general	21,422		24,558
Accrued salaries and benefits	15,704		18,982
Income taxes payable	3,354		1,700

Total	$	61,406	$	67,671

Other current liabilities consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Operating lease liabilities	$	9,300	$	11,398
Other	2,691		3,326

Total	$	11,991	$	14,724

LONG-TERM DEBT

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Senior secured term loans	$	293,826		$	293,826
Less: Debt issuance costs, net	(2,753		)	(3,119		)
Less: Unamortized discount, net	(2,492		)	(2,825		)

Long-term debt	$	288,581		$	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 June 30, 2020 was 5.00%.

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%. Borrowings under the revolving credit facility are not permitted if our leverage ratio exceeds 3.50 to 1.00. There were no borrowings outstanding under the revolving credit facility as of June 30, 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 June 30, 2020, debt issuance costs were $2.8 million, net of $1.8 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

6 Months Ended

Jun. 30, 2020

Other Liabilities Disclosure [Abstract]

OTHER NON-CURRENT LIABILITIES

Other non-current liabilities consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Operating lease liabilities	$	15,024	$	19,707
Income tax liabilities	10,552		10,935
Other non-current liabilities	442		374

Total	$	26,018	$	31,016

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 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 June 30, 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:



	June 30, 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	$	68,177	$	68,177	$	—	$	—	$	82,741	$	82,741	$	—	$	—
Restricted cash	3,816		3,816		—		—		3,842		3,842		—		—
Investment in equity securities	30,047		30,047		—		—		42,618		42,618		—		—
Long-term receivable	2,436		—		—		2,436		2,371		—		—		2,371

Liabilities:
Senior secured term loan	293,826		—		214,493		—		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 June 30, 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. 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

6 Months Ended

Jun. 30, 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 June 30, 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 six months ended June 30, 2020. We purchased 0.3 million shares of common stock at an average price of $21.89 per share during the three and six months ended June 30, 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 June 30, 2020, we can repurchase up to approximately $94 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 $448 million as of June 30, 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 $4.8 million and $5.5 million for the six months ended June 30, 2020 and 2019, respectively ($1.9 million and $2.8 million for the second quarter of 2020 and 2019, respectively). As of June 30, 2020, estimated unrecognized compensation costs related to share-based awards amounted to $8.5 million, which we expect to recognize over a weighted average remaining requisite service period of approximately 1.51 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 280 thousand service-based options were outstanding as of June 30, 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 222 thousand market-based options were outstanding as of June 30, 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 461 thousand performance-based options outstanding as of June 30, 2020.

There were no stock options granted during the six months ended June 30, 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:



	Six months ended June 30,
(in thousands, except per share amounts)	2020		2019

Intrinsic value of options exercised	$	—	$	34
Grant date fair value of stock options that vested	2,602		2,752

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	(504,911	)	23.69

Outstanding as of June 30, 2020	963,135		32.07		6.11	—

Exercisable as of June 30, 2020	589,845		28.52		5.88	—

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 411 thousand service-based awards were outstanding as of June 30, 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 265 thousand performance-based awards were outstanding as of June 30, 2020.

The Company granted 349 thousand restricted share units (at a weighted average grant date fair value of $16.26 per share) during the six months ended June 30, 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	349,459
Issued	(175,533	)
Forfeited/canceled	(133,622	)

Outstanding as of June 30, 2020	676,450

REVENUE

6 Months Ended

Jun. 30, 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:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Service revenue	$	91,008	$	190,520	$	204,184	$	355,519
Reimbursable expenses	3,840		4,775		11,685		9,271
Non-controlling interests	494		1,240		917		1,680

Total	$	95,342	$	196,535	$	216,786	$	366,470

Disaggregation of Revenue

Disaggregation of total revenues by major source is as follows:



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

Three months ended June 30, 2020	$	87,447	$	4,055	$	3,840	$	95,342
Three months ended June 30, 2019	178,949		12,811		4,775		196,535

Six months ended June 30, 2020	195,455		9,646		11,685		216,786
Six months ended June 30, 2019	326,704		30,495		9,271		366,470

Contract Balances

Our contract assets consist of unbilled accounts receivable (see Note 5). Our contract liabilities consist of current deferred revenue and other non-current liabilities as reported on the accompanying condensed consolidated balance sheets. Revenue recognized that was included in the contract liability at the beginning of the period was $3.8 million and $8.6 million for the six months ended June 30, 2020 and 2019, respectively ($1.3 million and $3.7 million for the second quarter of 2020 and 2019, respectively).

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

COST OF REVENUE

6 Months Ended

Jun. 30, 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:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Compensation and benefits	$	24,913	$	36,806	$	50,829	$	78,174
Outside fees and services	41,761		58,588		89,901		121,169
Technology and telecommunications	9,074		9,060		18,306		18,538
Reimbursable expenses	3,840		4,775		11,685		9,271
Depreciation and amortization	3,040		3,209		6,488		7,407
Cost of real estate sold	—		40,276		—		42,370

Total	$	82,628	$	152,714	$	177,209	$	276,929

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

6 Months Ended

Jun. 30, 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:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Compensation and benefits	$	9,307	$	15,238	$	21,319	$	26,591
Occupancy related costs	5,668		6,921		11,089		14,395
Amortization of intangible assets	2,840		3,544		7,049		12,191
Professional services	3,841		3,320		6,476		8,796
Marketing costs	951		2,989		2,388		5,921
Depreciation and amortization	544		1,682		1,213		3,115
Other	1,550		2,822		3,260		7,433

Total	$	24,701	$	36,516	$	52,794	$	78,442

OTHER (EXPENSE) INCOME, NET

6 Months Ended

Jun. 30, 2020

Other Income and Expenses [Abstract]

OTHER (EXPENSE) INCOME, NET

Other (expense) income, net consists of the following:



	Three months ended June 30,					Six months ended June 30,
(in thousands)	2020			2019		2020		2019

Interest income	$	6		$	116	$	80	$	267
Other, net	(327		)	412		693		635

Total	$	(321	)	$	528	$	773	$	902

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We recognized an income tax provision of $3.5 million and $15.3 million for the six months ended June 30, 2020 and 2019, respectively ($1.1 million and $16.5 million for the second quarter of 2020 and 2019, respectively). The decreases in the income tax provision for the three and six months ended June 30, 2020 were primarily from a $12.3 million reduction in Luxembourg deferred tax assets in connection with a decrease in the Luxembourg statutory income tax rate from 26.0% to 24.9% in the second quarter of 2019. The income tax provisions on losses before income taxes and non-controlling interests for the three and six months ended June 30, 2020 were 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 losses from our Luxembourg operating company for the three and six months ended June 30, 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

LOSS PER SHARE

6 Months Ended

Jun. 30, 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:



	Three months ended June 30,						Six months ended June 30,
(in thousands, except per share data)	2020			2019			2020			2019

Net loss attributable to Altisource	$	(35,061	)	$	(5,844	)	$	(46,711	)	$	(9,028	)

Weighted average common shares outstanding, basic	15,601			16,214			15,549			16,253

Weighted average common shares outstanding, diluted	15,601			16,214			15,549			16,253

Loss per share:
Basic	$	(2.25	)	$	(0.36	)	$	(3.00	)	$	(0.56	)
Diluted	$	(2.25	)	$	(0.36	)	$	(3.00	)	$	(0.56	)

For the six months ended June 30, 2020 and 2019, 1.8 million and 1.5 million, respectively (1.5 million for each of the second quarter of 2020 and 2019), 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 six months ended June 30, 2020 and 2019, 0.2 million and 0.3 million, respectively (0.1 million and 0.3 million for the second quarter of 2020 and 2019, respectively), 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 six months ended June 30, 2020 and 2019, 0.6 million and 0.4 million, respectively (0.3 million and 0.5 million for the second quarter of 2020 and 2019, 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 six months ended June 30, 2020 and 2019, 1.0 million and 0.8 million, respectively (1.1 million and 0.7 million for the second quarter of 2020 and 2019, respectively), stock options, restricted shares and restricted share units, which begin to vest upon the achievement of certain market criteria related to our common stock price, performance criteria and an annualized rate of return to shareholders that have not yet been met in each period have been excluded from the computation of diluted loss per share

RESTRUCTURING CHARGES	6 Months Ended
RESTRUCTURING CHARGES	Jun. 30, 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 six months ended June 30, 2020 and 2019, Altisource incurred $8.7 million and $6.3 million, respectively ($5.8 million and $1.9 million for the second quarter of 2020 and 2019, 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 $4 million to $7 million.

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS

6 Months Ended

Jun. 30, 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 six months ended June 30, 2019, the Company completed the analysis of its services for potential exposure to sales tax in various jurisdictions in the United States. The Company recognized a $2.1 million net loss for the six months ended June 30, 2019 in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive loss (no comparative amount for the six months ended June 30, 2020 and the second quarter of 2020 and 2019). 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 six months ended June 30, 2020, Ocwen was our largest customer, accounting for 61% of our total revenue (60% of our revenue for the second quarter of 2020). Additionally, 6% of our revenue for the six months ended June 30, 2020 (5% of our revenue for the second quarter of 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 June 30, 2020, NRZ owned MSRs or rights to MSRs relating to approximately 53% 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.

During the second quarter of 2020, Ocwen informed us that an investor had instructed Ocwen to use a field services provider other than Altisource on properties associated with certain MSRs. They indicated that they were instructed to begin the transition in July 2020, and that the transition should be completed in a few months. We believe Ocwen commenced using another field services provider for these properties in July 2020. Based upon the impacted portfolios to date and the designated service provider, Altisource believes that Ocwen received these directions from NRZ, but Ocwen has not confirmed this belief. The timing to complete the transition to the replacement field service provider has not been defined, but we anticipate that there will be an impact to revenue and earnings from the transfer of field services that may be material in future periods. We estimate that $58.2 million and $77.5 million of service revenue from Ocwen for the six months ended June 30, 2020 and 2019, respectively ($27.4 million and $35.1 million for the second quarter of 2020 and 2019, respectively) was derived from Field Services referrals from the NRZ owned portfolios. Without providing the timing or specific services impacted, Ocwen also communicated to Altisource that the same investor plans to direct them to transition certain other default related service referrals to other providers. We estimate that revenue from these certain other default related services represented approximately $20.6 million and $22.5 million of service revenue from Ocwen for the six months ended June 30, 2020 and 2019, respectively ($9.0 million and $10.5 million for the second quarter of 2020 and 2019, respectively). Altisource believes that any action taken by Ocwen to redirect these service referrals breaches Altisource's agreement with Ocwen. We are currently in discussions with Ocwen to address this matter, and have reserved all of our rights with respect to this matter.

To address the potential reduction in revenue, Altisource is taking additional measures to reduce its cost structure and strengthen its operations.

In addition to expected reductions in our revenue from the Field Services referrals transition, if any of the following events occurred, Altisource’s revenue could be further significantly reduced 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 an additional 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 $0.7 million and $0.8 million for the six months ended June 30, 2020 and 2019, respectively ($0.4 million and $0.5 million for the second quarter of 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 June 30, 2020

Weighted average remaining lease term (in years)	3.37
Weighted average discount rate	6.99	%

Our lease activity during the period is as follows:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Operating lease costs:
Selling, general and administrative expense	$	2,529	$	3,050	$	4,810	$	6,616
Cost of revenue	635		743		1,269		1,712

Cash used in operating activities for amounts included in the measurement of lease liabilities	$	3,447	$	3,720	$	6,758	$	8,457
Short-term (less than one year) lease costs	1,222		1,152		2,427		2,309

Maturities of our lease liabilities as of June 30, 2020 are as follows:



(in thousands)	Operating lease obligations

2020	$	5,652
2021	8,056
2022	5,630
2023	4,582
2024	2,863
Thereafter	599
Total lease payments	27,382
Less: interest	(3,058		)

Present value of lease liabilities	$	24,324

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 $42.7 million and $12.3 million as of June 30, 2020 and December 31, 2019, respectively.

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	6 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION (Policies)	Jun. 30, 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 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. 2018-15, 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.

ACCOUNTS RECEIVABLE, NET (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Schedule of accounts receivable, net

Accounts receivable, net consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Billed	$	30,850		$	35,921
Unbilled	9,800			12,166
	40,650			48,087
Less: Allowance for credit losses	(5,313		)	(4,472		)

Total	$	35,337		$	43,615

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

6 Months Ended

Jun. 30, 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)	June 30, 2020		December 31, 2019

Income taxes receivable	$	2,572	$	5,098
Maintenance agreements, current portion	1,340		1,923
Prepaid expenses	5,439		3,924
Other current assets	4,806		4,269

Total	$	14,157	$	15,214

PREMISES AND EQUIPMENT, NET (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of premises and equipment, net

Premises and equipment, net consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Computer hardware and software	$	129,966		$	144,608
Leasehold improvements	21,807			23,800
Furniture and fixtures	7,269			8,775
Office equipment and other	3,798			4,004
	162,840			181,187
Less: Accumulated depreciation and amortization	(144,179		)	(156,661		)

Total	$	18,661		$	24,526

Schedule of premises and equipment, net by country

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



(in thousands)	June 30, 2020		December 31, 2019

United States	$	9,779	$	13,426
Luxembourg	7,660		10,295
India	1,030		671
Uruguay	115		39
Philippines	77		95

Total	$	18,661	$	24,526

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

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Right-of-Use Assets Under Operating Leases

Right-of-use assets under operating leases, net consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Right-of-use assets under operating leases	$	38,685		$	39,729
Less: Accumulated amortization	(15,842		)	(10,655		)

Total	$	22,843		$	29,074

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in goodwill

Goodwill consists of the following:



(in thousands)	Total

Balance as of June 30, 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)	June 30, 2020		December 31, 2019		June 30, 2020			December 31, 2019			June 30, 2020		December 31, 2019

Definite lived intangible assets:
Customer related intangible assets	9	$	214,973	$	214,973	$	(181,367	)	$	(176,043	)	$	33,606	$	38,930
Operating agreement	20	35,000		35,000		(18,251		)	(17,376		)	16,749		17,624
Trademarks and trade names	16	9,709		9,709		(6,099		)	(5,893		)	3,610		3,816
Non-compete agreements	4	1,230		1,230		(1,228		)	(1,215		)	2		15
Intellectual property	—	—		300		—			(175		)	—		125
Other intangible assets	5	1,800		3,745		(1,770		)	(3,209		)	30		536

Total		$	262,712	$	264,957	$	(208,715	)	$	(203,911	)	$	53,997	$	61,046

OTHER ASSETS (Tables)

6 Months Ended

Jun. 30, 2020

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

Schedule of other assets

Other assets consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Restricted cash	$	3,816	$	3,842
Security deposits	2,777		3,473
Deferred tax assets, net	1,126		1,626
Other	3,562		3,495

Total	$	11,281	$	12,436

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

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Accounts payable	$	20,926	$	22,431
Accrued expenses - general	21,422		24,558
Accrued salaries and benefits	15,704		18,982
Income taxes payable	3,354		1,700

Total	$	61,406	$	67,671

Schedule of other current liabilities

Other current liabilities consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Operating lease liabilities	$	9,300	$	11,398
Other	2,691		3,326

Total	$	11,991	$	14,724

LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consists of the following:



(in thousands)	June 30, 2020			December 31, 2019

Senior secured term loans	$	293,826		$	293,826
Less: Debt issuance costs, net	(2,753		)	(3,119		)
Less: Unamortized discount, net	(2,492		)	(2,825		)

Long-term debt	$	288,581		$	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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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

OTHER NON-CURRENT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2020

Other Liabilities Disclosure [Abstract]

Schedule of other non-current liabilities

Other non-current liabilities consist of the following:



(in thousands)	June 30, 2020		December 31, 2019

Operating lease liabilities	$	15,024	$	19,707
Income tax liabilities	10,552		10,935
Other non-current liabilities	442		374

Total	$	26,018	$	31,016

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 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:



	June 30, 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	$	68,177	$	68,177	$	—	$	—	$	82,741	$	82,741	$	—	$	—
Restricted cash	3,816		3,816		—		—		3,842		3,842		—		—
Investment in equity securities	30,047		30,047		—		—		42,618		42,618		—		—
Long-term receivable	2,436		—		—		2,436		2,371		—		—		2,371

Liabilities:
Senior secured term loan	293,826		—		214,493		—		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 + Details

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 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:



	Six months ended June 30,
(in thousands, except per share amounts)	2020		2019

Intrinsic value of options exercised	$	—	$	34
Grant date fair value of stock options that vested	2,602		2,752

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	(504,911	)	23.69

Outstanding as of June 30, 2020	963,135		32.07		6.11	—

Exercisable as of June 30, 2020	589,845		28.52		5.88	—

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	349,459
Issued	(175,533	)
Forfeited/canceled	(133,622	)

Outstanding as of June 30, 2020	676,450

REVENUE (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of revenue

The components of revenue were as follows:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Service revenue	$	91,008	$	190,520	$	204,184	$	355,519
Reimbursable expenses	3,840		4,775		11,685		9,271
Non-controlling interests	494		1,240		917		1,680

Total	$	95,342	$	196,535	$	216,786	$	366,470

Disaggregation of revenue

Disaggregation of total revenues by major source is as follows:



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

Three months ended June 30, 2020	$	87,447	$	4,055	$	3,840	$	95,342
Three months ended June 30, 2019	178,949		12,811		4,775		196,535

Six months ended June 30, 2020	195,455		9,646		11,685		216,786
Six months ended June 30, 2019	326,704		30,495		9,271		366,470

COST OF REVENUE (Tables)

6 Months Ended

Jun. 30, 2020

Cost of Revenue [Abstract]

Schedule of components of cost of revenue

The components of cost of revenue were as follows:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Compensation and benefits	$	24,913	$	36,806	$	50,829	$	78,174
Outside fees and services	41,761		58,588		89,901		121,169
Technology and telecommunications	9,074		9,060		18,306		18,538
Reimbursable expenses	3,840		4,775		11,685		9,271
Depreciation and amortization	3,040		3,209		6,488		7,407
Cost of real estate sold	—		40,276		—		42,370

Total	$	82,628	$	152,714	$	177,209	$	276,929

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Tables)

6 Months Ended

Jun. 30, 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:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Compensation and benefits	$	9,307	$	15,238	$	21,319	$	26,591
Occupancy related costs	5,668		6,921		11,089		14,395
Amortization of intangible assets	2,840		3,544		7,049		12,191
Professional services	3,841		3,320		6,476		8,796
Marketing costs	951		2,989		2,388		5,921
Depreciation and amortization	544		1,682		1,213		3,115
Other	1,550		2,822		3,260		7,433

Total	$	24,701	$	36,516	$	52,794	$	78,442

OTHER (EXPENSE) INCOME, NET (Tables)

6 Months Ended

Jun. 30, 2020

Other Income and Expenses [Abstract]

Schedule of other (expense) income, net

Other (expense) income, net consists of the following:



	Three months ended June 30,					Six months ended June 30,
(in thousands)	2020			2019		2020		2019

Interest income	$	6		$	116	$	80	$	267
Other, net	(327		)	412		693		635

Total	$	(321	)	$	528	$	773	$	902

LOSS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of basic and diluted EPS calculation

Basic and diluted loss per share are calculated as follows:



	Three months ended June 30,						Six months ended June 30,
(in thousands, except per share data)	2020			2019			2020			2019

Net loss attributable to Altisource	$	(35,061	)	$	(5,844	)	$	(46,711	)	$	(9,028	)

Weighted average common shares outstanding, basic	15,601			16,214			15,549			16,253

Weighted average common shares outstanding, diluted	15,601			16,214			15,549			16,253

Loss per share:
Basic	$	(2.25	)	$	(0.36	)	$	(3.00	)	$	(0.56	)
Diluted	$	(2.25	)	$	(0.36	)	$	(3.00	)	$	(0.56	)

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2020

Weighted average remaining lease term (in years)	3.37
Weighted average discount rate	6.99	%

Lease activity during period

Our lease activity during the period is as follows:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2020		2019		2020		2019

Operating lease costs:
Selling, general and administrative expense	$	2,529	$	3,050	$	4,810	$	6,616
Cost of revenue	635		743		1,269		1,712

Cash used in operating activities for amounts included in the measurement of lease liabilities	$	3,447	$	3,720	$	6,758	$	8,457
Short-term (less than one year) lease costs	1,222		1,152		2,427		2,309

Maturities of operating lease liabilities

Maturities of our lease liabilities as of June 30, 2020 are as follows:



(in thousands)	Operating lease obligations

2020	$	5,652
2021	8,056
2022	5,630
2023	4,582
2024	2,863
Thereafter	599
Total lease payments	27,382
Less: interest	(3,058		)

Present value of lease liabilities	$	24,324

ORGANIZATION AND BASIS OF PRESENTATION (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020 USD ($) term	Dec. 31, 2019 USD ($)
Summary of significant accounting policies
Total assets	$ 328,349	$ 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	$ 2,400	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		6 Months Ended
CUSTOMER CONCENTRATION (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Concentration Risk
Revenue		$ 95,342	$ 196,535	$ 216,786	$ 366,470
NRZ
Concentration Risk
Subservice transferred subject MSRs, initial term				5 years
Customer Concentration Risk \| Ocwen
Concentration Risk
Accounts receivable	$ 16,300	16,300		$ 16,300		$ 19,100
Customer Concentration Risk \| Ocwen \| Billed
Concentration Risk
Accounts receivable	14,700	14,700		14,700		15,700
Customer Concentration Risk \| Ocwen \| Unbilled
Concentration Risk
Accounts receivable	$ 1,600	$ 1,600		$ 1,600		$ 3,400
Customer Concentration Risk \| Ocwen \| Revenue
Concentration Risk
Concentration percentage		60.00%	44.00%	61.00%	51.00%
Revenue		$ 57,400	$ 87,000	$ 131,600	$ 185,200
Customer Concentration Risk \| Highly Correlated - Ocwen \| Revenue
Concentration Risk
Concentration percentage		5.00%		6.00%
Revenue		$ 5,000	9,200	$ 12,800	20,300
Customer Concentration Risk \| NRZ \| Revenue
Concentration Risk
Revenue		1,900	3,000	4,600	7,000
Percentage of loans serviced and subserviced by largest customer's largest client	53.00%
Customer Concentration Risk \| Highly Correlated - NRZ \| Revenue
Concentration Risk
Revenue		7,100	16,400	$ 19,100	34,100
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%
Mortgage Servicing Rights \| Ocwen, Investor
Concentration Risk
Revenue		58,200	77,500	$ 27,400	35,100
Other Default Related Services \| Ocwen, Investor
Concentration Risk
Revenue		$ 20,600	$ 22,500	$ 9,000	$ 10,500

SALE OF THE FINANCIAL SERVICES BUSINESS (Details) - Financial Services Business - Discontinued Operations, Disposed of by Sale $ in Millions	Jul. 01, 2019 USD ($)
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
Transition services agreement extension term	3 months
Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services agreement term	2 months
Maximum
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 ($)		3 Months Ended		6 Months Ended		12 Months Ended
INVESTMENT IN EQUITY SECURITIES (Details) - USD ($)	Feb. 17, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2016	Dec. 31, 2019
Marketable Securities [Line Items]
Investment in equity securities		$ 30,047,000		$ 30,047,000			$ 42,618,000
Unrealized gain (loss) from change in fair value		$ (11,224,000)	$ 11,787,000	(12,571,000)	$ 14,025,000
Number of investment shares disposed (in shares)		0	600,000		600,000
Proceeds from investment shares sold		$ 0	$ 6,500,000	$ 0	$ 6,500,000
RESI
Marketable Securities [Line Items]
Number of investment shares acquired (in shares)						4,100,000
Number of securities outstanding (in shares)		3,500,000		3,500,000			3,500,000
Investment in equity securities		$ 30,000,000.0		$ 30,000,000.0			$ 42,600,000
Unrealized gain (loss) from change in fair value				(12,600,000)	14,000,000.0
Realized gain (loss) from change in fair value			1,200,000		1,500,000
Investment income, dividend		$ 0	$ 500,000	$ 500,000	$ 1,200,000
Price of shares in merger agreement (in dollars per share)	$ 12.50

ACCOUNTS RECEIVABLE, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts receivable, net
Accounts receivable, gross	$ 40,650	$ 48,087
Less: Allowance for credit losses	(5,313)	(4,472)
Total	35,337	43,615
Billed
Accounts receivable, net
Accounts receivable, gross	30,850	35,921
Unbilled
Accounts receivable, net
Accounts receivable, gross	$ 9,800	$ 12,166

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Income taxes receivable	$ 2,572	$ 5,098
Maintenance agreements, current portion	1,340	1,923
Prepaid expenses	5,439	3,924
Other current assets	4,806	4,269
Total	$ 14,157	$ 15,214

PREMISES AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 162,840		$ 162,840		$ 181,187
Less: Accumulated depreciation and amortization	(144,179)		(144,179)		(156,661)
Total	18,661		18,661		24,526
Depreciation and amortization expense	3,600	$ 4,900	7,700	$ 10,500
Computer hardware and software
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	129,966		129,966		144,608
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	21,807		21,807		23,800
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	7,269		7,269		8,775
Office equipment and other
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 3,798		$ 3,798		$ 4,004

PREMISES AND EQUIPMENT, NET - Summary by Country (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total	$ 18,661	$ 24,526
United States
Property, Plant and Equipment [Line Items]
Total	9,779	13,426
Luxembourg
Property, Plant and Equipment [Line Items]
Total	7,660	10,295
India
Property, Plant and Equipment [Line Items]
Total	1,030	671
Uruguay
Property, Plant and Equipment [Line Items]
Total	115	39
Philippines
Property, Plant and Equipment [Line Items]
Total	$ 77	$ 95

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Right-of-use assets under operating leases	$ 38,685		$ 38,685		$ 39,729
Less: Accumulated amortization	(15,842)		(15,842)		(10,655)
Total	22,843		22,843		$ 29,074	$ 42,100
Amortization of right-of-use assets under operating leases	$ 2,800	$ 3,100	$ 5,500	$ 6,800

GOODWILL AND INTANGIBLE ASSETS, NET - Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Intangible Assets, Net
Gross carrying amount	$ 262,712		$ 262,712		$ 264,957
Accumulated amortization	(208,715)		(208,715)		(203,911)
Net book value	53,997		53,997		61,046
Amortization expense for definite lived intangible assets	2,840	$ 3,544	7,049	$ 12,191
2020	13,700		13,700
2021	10,500		10,500
2022	5,100		5,100
2023	5,100		5,100
2024	5,100		5,100
Customer related intangible assets
Intangible Assets, Net
Gross carrying amount	214,973		214,973		214,973
Accumulated amortization	(181,367)		(181,367)		(176,043)
Net book value	33,606		33,606		38,930
Operating agreement
Intangible Assets, Net
Gross carrying amount	35,000		35,000		35,000
Accumulated amortization	(18,251)		(18,251)		(17,376)
Net book value	16,749		16,749		17,624
Trademarks and trade names
Intangible Assets, Net
Gross carrying amount	9,709		9,709		9,709
Accumulated amortization	(6,099)		(6,099)		(5,893)
Net book value	3,610		3,610		3,816
Non-compete agreements
Intangible Assets, Net
Gross carrying amount	1,230		1,230		1,230
Accumulated amortization	(1,228)		(1,228)		(1,215)
Net book value	2		2		15
Intellectual property
Intangible Assets, Net
Gross carrying amount	0		0		300
Accumulated amortization	0		0		(175)
Net book value	0		0		125
Other intangible assets
Intangible Assets, Net
Gross carrying amount	1,800		1,800		3,745
Accumulated amortization	(1,770)		(1,770)		(3,209)
Net book value	$ 30		$ 30		$ 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	Jun. 30, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Restricted cash	$ 3,816	$ 3,842
Security deposits	2,777	3,473
Deferred tax assets, net	1,126	1,626
Other	3,562	3,495
Total	$ 11,281	$ 12,436

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accounts payable	$ 20,926	$ 22,431
Accrued expenses - general	21,422	24,558
Accrued salaries and benefits	15,704	18,982
Income taxes payable	3,354	1,700
Total	$ 61,406	$ 67,671

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jan. 01, 2019
Other current liabilities
Operating lease liabilities	$ 9,300	$ 11,398	$ 16,700
Other	2,691	3,326
Total	$ 11,991	$ 14,724

LONG-TERM DEBT (Details)		6 Months Ended
LONG-TERM DEBT (Details)	Apr. 03, 2018 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Less: Debt issuance costs, net		$ (2,753,000)	$ (3,119,000)
Less: Unamortized discount, net		(2,492,000)	(2,825,000)
Long-term debt		288,581,000	287,882,000
Debt issuance costs, net		2,753,000	3,119,000
Accumulated amortization		1,800,000	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	$ 40,000,000.0
Amount of debt which results in acceleration of debt if failed to pay considered as event of default	40,000,000.0
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	$ 40,000,000.0
April 3, 2018 Credit Agreement
Debt Instrument [Line Items]
Threshold for past due debt repayment	5 days
April 3, 2018 Credit Agreement \| Term B loans
Debt Instrument [Line Items]
Debt instrument, face amount	$ 412,000,000.0
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	3.00
Leverage ratio at which mandatory prepayments increase under the Credit Agreement (exceeds)	3.50
Interest rate at the end of the period		5.00%
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	$ 15,000,000.0
Leverage ratio at which mandatory prepayments increase under the Credit Agreement (exceeds)	3.50
Potential increase in additional borrowings	$ 125,000,000.0
Potential increase in additional borrowings, sublimit	$ 80,000,000.0
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	Jun. 30, 2020	Dec. 31, 2019	Jan. 01, 2019
Other Liabilities Disclosure [Abstract]
Operating lease liabilities	$ 15,024	$ 19,707	$ 28,800
Income tax liabilities	10,552	10,935
Other non-current liabilities	442	374
Total	$ 26,018	$ 31,016

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 68,177	$ 82,741
Restricted cash	3,816	3,842
Investment in equity securities	30,047	42,618
Long-term receivable	2,436	2,371
Level 1 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	68,177	82,741
Restricted cash	3,816	3,842
Investment in equity securities	30,047	42,618
Long-term receivable	0	0
Level 2 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Investment in equity securities	0	0
Long-term receivable	0	0
Level 3 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Investment in equity securities	0	0
Long-term receivable	2,436	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	214,493	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		6 Months Ended
	Aug. 08, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 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		60.00%	44.00%	61.00%	51.00%
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		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		6 Months Ended
	May 15, 2018 $ / shares shares	Feb. 28, 2019 shares	Jun. 30, 2020 USD ($) shares	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) component $ / shares shares	Jun. 30, 2019 USD ($) $ / shares shares	Dec. 31, 2019 shares
Share Repurchase Program
Authorized amount \| $			$ 94,000		$ 94,000
Capacity available to repurchase common stock under senior secured term loan \| $			448,000		448,000
Share-Based Compensation
Share-based compensation expense \| $			1,900	$ 2,800	4,824	$ 5,453
Estimated unrecognized compensation costs \| $			$ 8,500		$ 8,500
Weighted average remaining requisite service period for stock options over which unrecognized compensation costs would be recognized					1 year 6 months 3 days
Outstanding (in shares)			963,135		963,135		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	$ 34
Grant date fair value of stock options that vested \| $					$ 2,602	$ 2,752
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)			280,000		280,000
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)			222,000		222,000
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)			461,000		461,000
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)			676,450		676,450		636,146
Restricted share units granted (in shares)					349,459
Restricted share units granted, weighted average grant date fair value (in usd per share) \| $ / shares					$ 16.26
Restricted Stock And Restricted Stock Units (RSUs) \| Service-Based
Share-Based Compensation
Restricted shares and restricted share units outstanding (in shares)			411,000		411,000
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)			265,000		265,000
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		2,400,000
Number of shares of common stock purchased (in shares)				305,686	0	300,000
Average price of common stock purchased (in usd per share) \| $ / shares				$ 21.89		$ 21.89

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION - Summary of Activity Related to Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Number of options
Outstanding at the beginning of the period (in shares)	1,468,046
Forfeited/expired (in shares)	(504,911)
Outstanding at the end of the period (in shares)	963,135	1,468,046
Exercisable at the end of the period (in shares)	589,845
Weighted average exercise price
Outstanding at the beginning of the period (in usd per share)	$ 29.19
Forfeited/expired (in usd per share)	23.69
Outstanding at the end of the period (in usd per share)	32.07	$ 29.19
Exercisable at the end of the period (in usd per share)	$ 28.52
Weighted average contractual term (in years)
Weighted average contractual term	6 years 1 month 9 days	4 years 7 months 6 days
Exercisable at the end of the period	5 years 10 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)	6 Months Ended
	Jun. 30, 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)	349,459
Issued (in shares)	(175,533)
Forfeited/canceled (in shares)	(133,622)
Outstanding at the end of period (in shares)	676,450

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of revenue [Line Items]
Revenue	$ 95,342	$ 196,535	$ 216,786	$ 366,470
Service revenue
Schedule of revenue [Line Items]
Revenue	91,008	190,520	204,184	355,519
Reimbursable expenses
Schedule of revenue [Line Items]
Revenue	3,840	4,775	11,685	9,271
Non-controlling interests
Schedule of revenue [Line Items]
Revenue	$ 494	$ 1,240	$ 917	$ 1,680

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

REVENUE - Disaggregation of revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 95,342	$ 196,535	$ 216,786	$ 366,470
Revenue recognized when services are performed or assets are sold
Disaggregation of Revenue [Line Items]
Revenue	87,447	178,949	195,455	326,704
Revenue related to technology platforms and professional services
Disaggregation of Revenue [Line Items]
Revenue	4,055	12,811	9,646	30,495
Reimbursable expenses revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 3,840	$ 4,775	$ 11,685	$ 9,271

- Definition

+ References

+ Details

REVENUE REVENUE - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included in the contract liability at the beginning of the period	$ 1.3	$ 3.7	$ 3.8	$ 8.6

COST OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
COST OF REVENUE (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Cost of Revenue [Abstract]
Compensation and benefits	$ 24,913	$ 36,806	$ 50,829	$ 78,174
Outside fees and services	41,761	58,588	89,901	121,169
Technology and telecommunications	9,074	9,060	18,306	18,538
Reimbursable expenses	3,840	4,775	11,685	9,271
Depreciation and amortization	3,040	3,209	6,488	7,407
Cost of real estate sold	0	40,276	0	42,370
Total	$ 82,628	$ 152,714	$ 177,209	$ 276,929

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Selling, General and Administrative Expense [Abstract]
Compensation and benefits	$ 9,307	$ 15,238	$ 21,319	$ 26,591
Occupancy related costs	5,668	6,921	11,089	14,395
Amortization of intangible assets	2,840	3,544	7,049	12,191
Professional services	3,841	3,320	6,476	8,796
Marketing costs	951	2,989	2,388	5,921
Depreciation and amortization	544	1,682	1,213	3,115
Other	1,550	2,822	3,260	7,433
Total	$ 24,701	$ 36,516	$ 52,794	$ 78,442

OTHER (EXPENSE) INCOME, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Income and Expenses [Abstract]
Interest income	$ 6	$ 116	$ 80	$ 267
Other, net	(327)	412	693	635
Total	$ (321)	$ 528	$ 773	$ 902

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax provision	$ 1,117	$ 16,513	$ 3,538	$ 15,291
Change in income tax expense from reduction in statutory income tax rate	$ 12,300		$ 12,300

- 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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net loss attributable to Altisource	$ (35,061)	$ (5,844)	$ (46,711)	$ (9,028)
Weighted average common shares outstanding, basic (in shares)	15,601	16,214	15,549	16,253
Weighted average common shares outstanding, diluted (in shares)	15,601	16,214	15,549	16,253
Loss per share:
Basic (in usd per share)	$ (2.25)	$ (0.36)	$ (3.00)	$ (0.56)
Diluted (in usd per share)	$ (2.25)	$ (0.36)	$ (3.00)	$ (0.56)
Anti-dilutive securities
Options, restricted shares and restricted share units excluded from the computation of diluted EPS (in shares)	1,500	1,500	1,800	1,500
Employee and Nonemployee Stock Options, Restricted Stock and Restricted Stock Units Whose Impacts are Anti-Dilutive
Anti-dilutive securities
Options, restricted shares and restricted share units excluded from the computation of diluted EPS (in shares)	100	300	200	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)	300	500	600	400
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)	1,100	700	1,000	800

RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,769	$ 1,899	$ 8,694	$ 6,319
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected future cost (approximate)	4,000		4,000
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected future cost (approximate)	$ 7,000		$ 7,000

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Concentration Risk
Loss related to sales tax exposure				$ 0	$ 2,100,000
Revenue		$ 95,342,000	$ 196,535,000	216,786,000	$ 366,470,000
Amounts held in escrow and trust accounts	$ 42,700,000	$ 42,700,000		$ 42,700,000		$ 12,300,000
Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer		60.00%	44.00%	61.00%	51.00%
Revenue		$ 57,400,000	$ 87,000,000.0	$ 131,600,000	$ 185,200,000
Highly Correlated - Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer		5.00%		6.00%
Revenue		$ 5,000,000.0	9,200,000	$ 12,800,000	20,300,000
NRZ
Concentration Risk
Subservice transferred subject MSRs, initial term				5 years
NRZ \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of loans serviced and subserviced by largest customer's largest client	53.00%
Revenue		$ 1,900,000	3,000,000.0	$ 4,600,000	7,000,000.0
Minimum
Concentration Risk
Lease term	1 year	1 year		1 year
Mortgage Servicing Rights \| Ocwen, Investor
Concentration Risk
Revenue		$ 58,200,000	77,500,000	$ 27,400,000	35,100,000
Other Default Related Services \| Ocwen, Investor
Concentration Risk
Revenue		$ 20,600,000	$ 22,500,000	$ 9,000,000.0	$ 10,500,000

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Right-to-use assets	$ 22,843		$ 22,843		$ 29,074	$ 42,100
Lease obligation liabilities						45,500
Lease obligation liabilities, current	9,300		9,300		11,398	16,700
Lease obligation liabilities, noncurrent	15,024		15,024		$ 19,707	28,800
Reduction in reduced accrued rent and lease incentives						$ 3,400
Sublease income	$ 400	$ 500	$ 700	$ 800
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	6 years		6 years

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Term and Assumption (Details)	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term (in years)	3 years 4 months 13 days
Weighted average discount rate	6.99%

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Cash used in operating activities for amounts included in the measurement of lease liabilities	$ 3,447	$ 3,720	$ 6,758	$ 8,457
Short-term (less than one year) lease costs	1,222	1,152	2,427	2,309
Selling, general and administrative expense
Lessee, Lease, Description [Line Items]
Operating lease costs	2,529	3,050	4,810	6,616
Cost of revenue
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 635	$ 743	$ 1,269	$ 1,712

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 5,652
2021	8,056
2022	5,630
2023	4,582
2024	2,863
Thereafter	599
Total lease payments	27,382
Less: interest	(3,058)
Present value of lease liabilities	$ 24,324