0001462418-22-000007 | 10-K | XBRL Viewer | Altisource Portfolio Solutions SA

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 98,132	$ 58,263
Accounts receivable, net	18,008	22,413
Prepaid expenses and other current assets	21,864	19,479
Total current assets	138,004	100,155
Premises and equipment, net	6,873	11,894
Right-of-use assets under operating leases	7,594	18,213
Goodwill	55,960	73,849
Intangible assets, net	36,859	46,326
Deferred tax assets, net	6,386	5,398
Other assets	6,132	9,850
Total assets	257,808	265,685
Current liabilities:
Accounts payable and accrued expenses	46,535	56,779
Deferred revenue	4,342	5,461
Other current liabilities	3,870	9,305
Total current liabilities	54,747	71,545
Long-term debt	243,637	242,656
Deferred tax liabilities, net	9,028	8,801
Other non-current liabilities	19,266	25,239
Commitments, contingencies and regulatory matters (Note 24)
Equity (deficit):
Common stock ($1.00 par value; 100,000 shares authorized, 25,413 issued and 15,911 outstanding as of December 31, 2021; 15,664 outstanding as of December 31, 2020)	25,413	25,413
Additional paid-in capital	144,298	141,473
Retained earnings	186,592	190,383
Treasury stock, at cost (9,502 shares as of December 31, 2021 and 9,749 shares as of December 31, 2020)	(426,445)	(441,034)
Altisource deficit	(70,142)	(83,765)
Non-controlling interests	1,272	1,209
Total deficit	(68,870)	(82,556)
Total liabilities and deficit	$ 257,808	$ 265,685

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in USD per share)	$ 1.00	$ 1.00
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)	15,911,000	15,664,000
Treasury stock, shares (in shares)	9,502,000	9,749,000

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 178,453	$ 365,547
Cost of revenue	171,366	305,194
Gross profit	7,087	60,353
Selling, general and administrative expenses	67,049	92,736
Gain on sale of businesses	(88,930)	0
Restructuring charges	0	11,972
Income (loss) from operations	28,968	(44,355)
Other income (expense), net:
Interest expense	(14,547)	(17,730)
Unrealized gain on investment in equity securities	0	4,004
Other income, net	864	375
Total other income (expense), net	(13,683)	(13,351)
Income (loss) before income taxes and non-controlling interests	15,285	(57,706)
Income tax provision	(3,232)	(8,609)
Net income (loss)	12,053	(66,315)
Net income attributable to non-controlling interests	(241)	(841)
Net income (loss) attributable to Altisource	$ 11,812	$ (67,156)
Earnings (loss) per share:
Basic (in USD per share)	$ 0.75	$ (4.31)
Diluted (in USD per share)	$ 0.74	$ (4.31)
Weighted average shares outstanding:
Basic (in shares)	15,839	15,598
Diluted (in shares)	16,063	15,598
Comprehensive income (loss):
Comprehensive income (loss), net of tax	$ 12,053	$ (66,315)
Comprehensive income attributable to non-controlling interests	(241)	(841)
Comprehensive income (loss) attributable to Altisource	$ 11,812	$ (67,156)

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Treasury stock, at cost	Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2019		25,413,000
Beginning balance at Dec. 31, 2019	$ (21,357)	$ 25,413	$ 133,669	$ 272,026	$ (453,934)	$ 1,469
Increase (Decrease) in Equity
Net income (loss)	(66,315)			(67,156)		841
Distributions to non-controlling interest holders	(1,101)					(1,101)
Share-based compensation expense	7,804		7,804			0
Issuance of restricted share units and restricted shares	0			(9,548)	9,548
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances and stock option exercises	(1,587)			(4,939)	3,352
Ending balance (in shares) at Dec. 31, 2020		25,413,000
Ending balance at Dec. 31, 2020	(82,556)	$ 25,413	141,473	190,383	(441,034)	1,209
Increase (Decrease) in Equity
Net income (loss)	12,053			11,812		241
Non-controlling interests eliminated on deconsolidation (Note 2)	1,781					1,781
Distributions to non-controlling interest holders	(1,959)					(1,959)
Share-based compensation expense	2,825		2,825
Issuance of restricted share units and restricted shares	0			(11,092)	11,092
Treasury shares withheld for the payment of tax on restricted share unit and restricted share issuances and stock option exercises	(1,014)			(4,511)	3,497
Ending balance (in shares) at Dec. 31, 2021		25,413,000
Ending balance at Dec. 31, 2021	$ (68,870)	$ 25,413	$ 144,298	$ 186,592	$ (426,445)	$ 1,272

- Definition

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

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- Definition

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

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-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(3)(iii)(03)

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 12,053	$ (66,315)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	4,592	14,890
Amortization of right-of-use assets under operating leases	7,935	10,245
Amortization of intangible assets	9,467	14,720
Unrealized gain on investment in equity securities	0	(4,004)
Share-based compensation expense	2,825	7,804
Bad debt expense	1,354	2,229
Amortization of debt discount	665	666
Amortization of debt issuance costs	847	730
Deferred income taxes	(705)	5,033
Loss on disposal of fixed assets	47	461
Gain on sale of businesses	(88,930)	0
Other non-cash items	137	0
Changes in operating assets and liabilities:
Accounts receivable	2,963	14,973
Prepaid expenses and other current assets	1,146	(4,140)
Other assets	902	947
Accounts payable and accrued expenses	(8,442)	(10,338)
Current and non-current operating lease liabilities	(8,803)	(10,599)
Other current and non-current liabilities	1,542	297
Net cash used in operating activities	(60,405)	(22,401)
Cash flows from investing activities:
Additions to premises and equipment	(1,379)	(2,705)
Proceeds received from sale of equity securities	0	46,622
Proceeds from the sale of businesses	104,141	3,307
Net cash provided by investing activities	102,762	47,224
Cash flows from financing activities:
Proceeds from revolving credit facility	20,000	0
Repayments of long-term debt and revolving credit facility	(20,000)	(46,622)
Debt issuance costs	(531)	0
Proceeds from convertible debt payable to related parties (Note 2)	1,200	0
Distributions to non-controlling interests	(1,959)	(1,101)
Payments of tax withholding on issuance of restricted share units and restricted shares	(1,014)	(1,587)
Net cash used in financing activities	(2,304)	(49,310)
Net increase (decrease) in cash, cash equivalents and restricted cash	40,053	(24,487)
Cash, cash equivalents and restricted cash at the beginning of the period	62,096	86,583
Cash, cash equivalents and restricted cash at the end of the period	102,149	62,096
Supplemental cash flow information:
Interest paid	12,532	15,697
Income taxes paid, net	2,455	2,061
Acquisition of right-of-use assets with operating lease liabilities	7,318	1,075
Reduction of right-of-use assets from operating lease modifications or reassessments	(6,119)	(1,691)
Non-cash investing and financing activities:
Net (decrease) increase in payables for purchases of premises and equipment	$ (116)	$ 139

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION 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. The Company operates with one reportable segment (total Company).

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting and Presentation

The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Intercompany transactions and accounts have been eliminated in consolidation.

Principles of Consolidation

The financial statements include the accounts of the Company, its wholly-owned subsidiaries and those entities in which we have a variable interest and are the primary beneficiary.

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 consolidated financial statements on a consolidated basis and the interests of the members are reflected as non-controlling interests. As of December 31, 2021, Lenders One had total assets of $2.2 million and total liabilities of $1.4 million. As of December 31, 2020, Lenders One had total assets of $2.3 million and total liabilities of $0.1 million.

In 2019, Altisource created Pointillist, Inc. (“Pointillist”) and contributed the Pointillist® customer journey analytics business and $8.5 million to it. On May 27, 2021, Pointillist issued $1.3 million in principal of convertible notes to related parties with a maturity date of January 1, 2023. The notes bore interest at a rate of 7% per annum. The principal and unpaid accrued interest then outstanding under the notes (1) would automatically convert to Pointillist equity at the earlier of the time Pointillist receives proceeds of $5.0 million or more from the sale of its equity or January 1, 2023, or (2) are repaid in cash or converted into Pointillist common stock equity based on a $13.1 million Pointillist valuation (at the Lenders’ option) in the event of a corporate transaction or initial public offering of Pointillist. On December 1, 2021, the notes were converted to Pointillist equity and Altisource and other shareholders of Pointillist sold all of the equity interests in Pointillist (See Note 4 for additional information). Prior to the sale, Pointillist was owned by Altisource and management of Pointillist, with management of Pointillist owning a non-controlling interest representing 12.1% of the outstanding equity of Pointillist. Through December 1, 2021 Pointillist is presented in the accompanying consolidated financial statements on a consolidated basis and the portion of Pointillist owned by Pointillist management is reported as non-controlling interests as of December 31, 2020.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, determining share-based compensation, income taxes, collectability of receivables, valuation of acquired intangibles and goodwill, depreciable lives and valuation of fixed assets and contingencies. Actual results could differ materially from those estimates.

Cash and Cash Equivalents

We classify all highly liquid instruments with an original maturity of three months or less at the time of purchase as cash equivalents.

Accounts Receivable, Net

Accounts receivable are presented net of an allowance for expected credit losses. We monitor and estimate the allowance for credit losses based on our historical write-offs, historical collections, our analysis of past due accounts based on the contractual terms of the receivables, relevant market and industry reports and our assessment of the economic status of our customers, if known. The carrying value of accounts receivable, net, approximates fair value.

Premises and Equipment, Net

We report premises and equipment, net at cost or estimated fair value at acquisition for premises and equipment recorded in connection with a business combination and depreciate these assets over their estimated useful lives using the straight-line method as follows:


Furniture and fixtures			5 years
Office equipment			5 years
Computer hardware			3-5 years
Computer software			3-7 years
Leasehold improvements			Shorter of useful life, 10 years or the term of the lease

Maintenance and repair costs are expensed as incurred. We capitalize expenditures for significant improvements and new equipment and depreciate the assets over the shorter of the capitalized asset’s life or the life of the lease.

We review premises and equipment for impairment following events or changes in circumstances that indicate the carrying amount of an asset or asset group may not be recoverable. We measure recoverability of assets to be held and used by comparing the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds its estimated future cash flows, we recognize an impairment charge for the amount that the carrying value of the asset or asset group exceeds the fair value of the asset or asset group.

Computer software includes the fair value of software acquired in business combinations, capitalized software development costs and purchased software. Capitalized software development and purchased software are recorded at cost and amortized using the straight-line method over their estimated useful lives. Software acquired in business combinations is recorded at fair value and amortized using the straight-line method over its estimated useful life.

Business Combinations

We account for acquisitions using the purchase method of accounting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, Business Combinations. The purchase price of an acquisition is allocated to the assets acquired and liabilities assumed using their fair value as of the acquisition date.

Goodwill

Goodwill represents the excess cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. We evaluate goodwill for impairment annually during the fourth quarter or more frequently when an event occurs or circumstances change in a manner that indicates the carrying value may not be recoverable. We first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value as a basis for determining whether we need to perform the quantitative goodwill impairment test. Only if we determine, based on qualitative assessment, that it is more likely than not that a reporting unit’s fair value is less than its carrying value will we calculate the fair value of the reporting unit. We would then test goodwill for impairment by comparing the fair value of the reporting unit with its carrying amount. If the fair value is determined to be less than its carrying amount, we 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. We estimate the fair value of the reporting unit using discounted cash flows and market comparisons. The discounted cash flow method is based on the present value of projected cash flows. Forecasts of future cash flows are based on our estimate of future sales and operating expenses, based primarily on estimated pricing, sales volumes, market segment share, cost trends and general economic conditions. The estimated cash flows are discounted using a rate that represents our weighted average cost of capital. The market comparisons include an analysis of revenue and earnings multiples of guideline public companies compared to the Company.

Intangible Assets, Net

Identified intangible assets consist primarily of customer related intangible assets, operating agreements, trademarks and trade names and other intangible assets. Identifiable intangible assets acquired in business combinations are recorded based on their fair values at the date of acquisition. We determine the useful lives of our identifiable intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors we consider when determining useful lives include the contractual term of any arrangements, the history of the asset, our long-term strategy for use of the asset and other economic factors. We amortize intangible assets that we deem to have definite lives in proportion to actual and expected customer revenues or on a straight-line basis over their useful lives, generally ranging from 4 to 20 years.

We perform tests for impairment if conditions exist that indicate the carrying value may not be recoverable. When facts and circumstances indicate that the carrying value of intangible assets determined to have definite lives may not be recoverable, management assesses the recoverability of the carrying value by preparing estimates of cash flows of discrete intangible assets generally consistent with models utilized for internal planning purposes. If the sum of the undiscounted expected future cash flows is less than the carrying value, we recognize an impairment to the extent the carrying amount exceeds fair value.

Long-Term Debt

Long-term debt is reported net of applicable discount or premium and net of debt issuance costs. The debt discount or premium and debt issuance costs are amortized to interest expense through maturity of the related debt using the effective interest method.

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.

Functional Currency

The currency of the primary economic environment in which our operations are conducted is the United States dollar. Therefore, the United States dollar has been determined to be our functional and reporting currency. Non-United States dollar transactions and balances have been measured in United States dollars in accordance with ASC Topic 830, Foreign Currency Matters. All transaction gains and losses from the measurement of monetary balance sheet items denominated in non-United States dollar currencies are reflected in the consolidated statements of operations and comprehensive income (loss) as income or expenses, as appropriate.

Defined Contribution 401(k) Plan

Some of our employees currently participate in a defined contribution 401(k) plan under which we may make matching contributions equal to a discretionary percentage determined by us. We recorded expenses of $0.5 million and $0.6 million for the years ended December 31, 2021 and 2020, respectively, related to our discretionary contributions.

Revenue Recognition

We recognize revenue when we satisfy a performance obligation by transferring control of a product or service to a customer in an amount that reflects the consideration that we expect to receive. This revenue can be recognized at a point in time or over time. We invoice customers based on our contractual arrangements with each customer, which may not be consistent with the period that revenues are recognized. When there is a timing difference between when we invoice customers and when revenues

are recognized, we record either a contract asset (unbilled accounts receivable) or a contract liability (deferred revenue or other current liabilities), as appropriate. Descriptions of our principal revenue generating activities are as follows:

Core Businesses

Field Services

•For property preservation and inspection services and payment management technologies, we recognize transactional revenue when the service is provided.

•For vendor management transactions and our vendor management oversight software-as-a-service (“SaaS”) platform, we recognize revenue over the period during which we perform the services.

•Reimbursable expenses revenue related to our property preservation and inspection services is included in revenue with an equal amount recognized in cost of revenue. These amounts are recognized on a gross basis, principally because generally we have control over selection of vendors and the vendor relationships are with us, rather than with our customers.

Marketplace

•For the real estate auction platform, real estate auction and real estate brokerage services, we recognize revenue on a net basis (i.e., the commission on the sale) as we perform services as an agent without assuming the risks and rewards of ownership of the asset and the commission earned on the sale is a fixed percentage or amount.

•For SaaS based technology to manage real estate owned (“REO”), short sales, foreclosure, bankruptcy and eviction processes, we recognize revenue over the estimated average number of months the REO are on the platform. We generally recognize revenue for professional services over the contract period.

•Reimbursable expenses revenue related to our real estate sales is included in revenue with an equal amount recognized in cost of revenue. These amounts are recognized on a gross basis, principally because generally we have control over selection of vendors and the vendor relationships are with us, rather than with our customers.

Mortgage and Real Estate Solutions

•For the majority of the services we provide, we recognize transactional revenue when the service is provided.

•For loan disbursement processing services, we recognize revenue over the period during which we perform the processing services with full recognition upon completion of the disbursements. For foreclosure trustee services, we recognize revenue over the period during which we perform the related services, with full recognition upon completion and/or recording the related foreclosure deed. We use judgment to determine the period over which we recognize revenue for certain of these services.

•Reimbursable expenses revenue related to our title and foreclosure trustee services businesses is included in revenue with an equal amount recognized in cost of revenue. These amounts are recognized on a gross basis, principally because generally we have control over selection of vendors and the vendor relationships are with us, rather than with our customers.

Other Businesses

Earlier Stage Business

•For our customer journey analytics platform (sold on December 1, 2021), we recognized revenue primarily based on subscription fees. We recognized revenue associated with implementation services and maintenance services ratably over the contract term.

Other

•For loan servicing technologies, we recognized revenue based on the number of loans on the system. We generally recognized revenue from professional services over the contract period.

Share-Based Compensation

Share-based compensation is accounted for under the provisions of ASC Topic 718, Compensation - Stock Compensation (“ASC Topic 718”). Under ASC Topic 718, the cost of services received in exchange for an award of equity instruments is generally measured based on the grant date fair value of the award. Share-based awards that do not require future service are expensed immediately. Share-based awards that require future service are recognized over the relevant service period. The Company has made an accounting policy election to account for forfeitures in compensation expense as they occur.

Income Taxes

We record income taxes in accordance with ASC Topic 740, Income Taxes (“ASC Topic 740”). We account for certain income and expense items differently for financial reporting purposes and income tax purposes. We recognize deferred income tax assets and liabilities for these differences between the financial reporting basis and the tax basis of our assets and liabilities as well as expected benefits of utilizing net operating loss and credit carryforwards. The most significant temporary differences relate to accrued compensation, amortization, loss carryforwards and valuation allowances. We measure deferred income tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which we anticipate recovery or settlement of those temporary differences. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required in determining tax expense and in evaluating tax positions including evaluating uncertainties under ASC Topic 740. We recognize tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Resolution of these uncertainties in a manner inconsistent with management’s expectations could have a material impact on our results of operations.

Earnings Per Share

We compute earnings per share in accordance with ASC Topic 260, Earnings Per Share. Basic net income per share is computed by dividing net income attributable to Altisource by the weighted average number of shares of common stock outstanding for the period. Diluted net income per share reflects the assumed conversion of all dilutive securities using the treasury stock method.

Recently Adopted Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 is effective for annual periods beginning after December 15, 2020, including interim periods within that reporting period. The Company adopted this standard effective January 1, 2021 and has applied it prospectively. Adoption of this new standard did not have any impact on the Company’s consolidated financial statements.

In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Topic 470) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Topic 815). This standard simplifies the accounting for certain financial instruments with characteristics of liability and equity, particularly convertible debt instruments. This standard is effective for annual periods beginning after December 15, 2021, including interim periods within that reporting period. Early adoption is permitted for annual periods beginning after December 15, 2020. The Company early adopted this standard effective January 1, 2021 and has applied it prospectively. Adoption of this new standard did not have a material impact on the Company’s consolidated financial statements.

Future Adoption of New Accounting Pronouncements

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform on Financial Reporting and in January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope. 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	12 Months Ended
CUSTOMER CONCENTRATION	Dec. 31, 2021
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 year ended December 31, 2021, Ocwen was our largest customer, accounting for 31% of our total revenue. Ocwen purchases certain mortgage services from us under the terms of services agreements and amendments thereto (collectively, the “Ocwen Services Agreements”) with terms extending through August 2030. Certain of the Ocwen Services Agreements contain a “most favored nation” provision and also grant the parties the right to renegotiate pricing, among other things. Revenue from Ocwen primarily consists of revenue earned from the loan portfolios serviced and subserviced by Ocwen when Ocwen engages us as the service provider, and revenue earned directly from Ocwen, pursuant to the Ocwen Services Agreements. For the years ended December 31, 2021 and 2020, we recognized revenue from Ocwen of $55.6 million and $197.8 million, respectively. Revenue from Ocwen as a percentage of consolidated revenue was 31% and 54% for the years ended December 31, 2021 and 2020, 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 years ended December 31, 2021 and 2020, we recognized $9.5 million and $23.8 million, respectively, of such revenue. 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 MSR investor instructed Ocwen to use a field services provider other than Altisource on properties associated with certain MSRs. Based upon the impacted portfolios and the designated service provider, Altisource believes that Ocwen received these directions from New Residential Investment Corp. (individually, together with one or more of its subsidiaries or one or more of its subsidiaries individually, “NRZ”). We believe Ocwen commenced using another field services provider for these properties in July 2020 and continued to transition services during the third quarter of 2020. We believe that the transition to the replacement field service provider was largely completed as of September 30, 2020. We estimate that $0.5 million and $70.1 million of service revenue from Ocwen for the years ended December 31, 2021 and 2020, respectively, was derived from Field Services referrals from the NRZ portfolios. Ocwen also communicated to Altisource in the fourth quarter of 2020 that the same investor instructed Ocwen to use a provider for default valuations and certain default title services other than Altisource on properties associated with such certain MSRs and commenced moving these referrals to other service providers in the fourth quarter of 2020, with the bulk of such transition occurring during 2021. We anticipate that the transition of such default valuations and title services will continue during the course of 2022. We estimate that $2.9 million and $18.2 million of service revenue from Ocwen for the years ended December 31, 2021 and 2020, respectively, was derived from default valuations and title services referrals from the NRZ portfolios. To address the reduction in revenue, Altisource undertook several measures to further reduce its cost structure, strengthen its operations and generate cash. On May 5, 2021 we entered into an agreement with Ocwen (the “Agreement”) pursuant to which the terms of certain services agreements between us and Ocwen were extended from August 2025 through August 2030 and the scope of solutions we provide to Ocwen was expanded to include, among other things, the opportunity for the Company to provide first and second chance foreclosure auctions on Federal Housing Administration (“FHA”) loans and field services on Ocwen’s FHA, Veterans Affairs and United States Department of Agriculture loans (collectively, “Government Loans”), and title services on FHA and Veterans Affairs loans, subject to a process to confirm Altisource’s ability to meet reasonable performance requirements, which process is continuing. The Agreement established a framework for us to expand the foreclosure trustee solutions we provide to Ocwen in additional states, and, as mutually agreed upon by the parties, to deliver reverse mortgage related solutions to Ocwen, subject to negotiation of appropriate statements of work or other agreements, a process to confirm Altisource’s ability to meet reasonable performance requirements, and technical integrations, as may be applicable. The Agreement further resolved the contractual dispute between the parties related to Ocwen’s transfer to NRZ the rights to designate service providers other than Altisource, including mutual releases with respect to such dispute. The Agreement also addressed Ocwen’s rights in the event of certain change of control or sale of a business transactions by us on or after September 1, 2028. Since the date of the Agreement, Ocwen has transitioned over 2,300 of its foreclosure auction inventory on Government Loans to us and increased our percentage of field services referrals on its Government Loans. As of December 31, 2021, accounts receivable from Ocwen totaled $3.0 million, $2.8 million of which was billed and $0.2 million of which was unbilled. As of December 31, 2020, accounts receivable from Ocwen totaled $5.9 million, $5.1 million of which was billed and $0.8 million of which was unbilled. NRZ NRZ is a real estate investment trust that invests in and manages investments primarily related to residential real estate, including MSRs and excess MSRs. Ocwen has disclosed that NRZ is its largest client. As of December 31, 2021, approximately 21% of loans serviced and subserviced by Ocwen (measured in unpaid principal balance (“UPB”) were related to NRZ MSRs or rights to MSRs. 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 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 years ended December 31, 2021 and 2020, we recognized revenue from NRZ of $3.1 million and $8.6 million, respectively, under the Brokerage Agreement. For the years ended December 31, 2021 and 2020, we recognized additional revenue of $13.6 million and $35.1 million, respectively, relating to the Subject MSRs when a party other than NRZ selects Altisource as the service provider.

SALE OF BUSINESSES	12 Months Ended
SALE OF BUSINESSES	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
SALE OF BUSINESSES	SALE OF BUSINESSES Pointillist Business On October 6, 2021 Altisource and other shareholders of Pointillist entered into a definitive Stock Purchase Agreement (as amended, the “SPA”) to sell all of the equity interests in Pointillist to Genesys Cloud Services, Inc. (“Genesys”) for $150.0 million (the “Purchase Price”) (the “Transaction”). The Purchase Price consisted of (1) an up-front payment of $144.5 million, subject to certain adjustments, (2) $0.5 million deposited into an escrow account to be used to satisfy potential deficits between estimated closing date working capital and actual closing date working capital (the “Working Capital Escrow”), with excess amounts remaining after satisfying such deficits (if any) being paid to the sellers, and (3) $5.0 million deposited into an escrow account to satisfy certain Genesys indemnification claims that may arise on or prior to the first anniversary of the sale closing and, at Genesys’ election, any working capital deficits that exceed the Working Capital Escrow (the “Indemnification Escrow”), with the balance to be paid to the sellers thereafter. The Transaction closed on December 1, 2021. On a fully diluted basis, Altisource owned approximately 69% of the equity of Pointillist. After working capital and other applicable adjustments, Altisource received approximately $106.0 million from the sale of its Pointillist equity and the collection of outstanding receivables, with $102.2 million received at closing, approximately $0.3 million deposited into the Working Capital Escrow and approximately $3.5 million deposited into the Indemnification Escrow. The present value of the amounts in escrow is included in other current assets in the accompanying consolidated balance sheets at a discounted value of $3.6 million as of December 31, 2021 (no comparative amount as of December 31, 2020). Altisource recognized a pre-tax and after-tax gain of approximately $88.9 million from the sale. 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. On July 1, 2020, the Company received net proceeds of $3.3 million representing TSI’s final installment payment less certain amounts owed to TSI. Rental Property Management Business In August 2018, Altisource entered into an amendment to its agreements with Front Yard Residential Corporation (“RESI”) to sell Altisource’s rental property management business to RESI and permit RESI to internalize certain services that had been provided by Altisource. The proceeds from the transaction totaled $18.0 million, payable in two installments. The first installment of $15.0 million was received in August 2018 and the second installment of $3.0 million was received in January 2021. The present value of the second installment is included in other assets in the accompanying consolidated balance sheets at a discounted value of $2.5 million as of December 31, 2020 (no comparative amount as of December 31, 2021).

INVESTMENT IN EQUITY SECURITIES	12 Months Ended
INVESTMENT IN EQUITY SECURITIES	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENT IN EQUITY SECURITIES	INVESTMENT IN EQUITY SECURITIES During 2016, we purchased 4.1 million shares of RESI common stock. This investment is reflected in the accompanying consolidated balance sheets at fair value and changes in fair value are included in other income (expense), net in the accompanying consolidated statements of operations and comprehensive income (loss). As of December 31, 2021 and December 31, 2020, we held no shares of RESI common stock. During the year ended December 31, 2020 we recognized an unrealized gain from the change in fair value of $4.0 million in the consolidated statements of operations and comprehensive income (loss) (no comparative amount for the year ended December 31, 2021). The unrealized gain for year ended December 31, 2020 included $4.1 million of net gains recognized on RESI shares sold during the period (no comparative amount for the year ended December 31, 2021). During the year ended December 31, 2020 we earned dividends of $0.5 million related to this investment (no comparative amount for the year ended December 31, 2021). During the year ended December 31, 2020, the Company sold all of its remaining 3.5 million shares for net proceeds of $46.6 million. As required by our senior secured term loan agreement, the Company used the net proceeds to repay a portion of its senior secured term loan.

ACCOUNTS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following as of December 31:


(in thousands)	2021		2020

Billed	$	17,907	$	19,703
Unbilled	5,398		8,291
	23,305		27,994
Less: Allowance for credit losses	(5,297)		(5,581)

Total	$	18,008	$	22,413

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.

We are exposed to credit losses through our sales of products and services to our customers which are recorded as accounts receivable, net on the Company’s consolidated financial statements. We monitor and estimate the allowance for credit losses based on our historical write-offs, historical collections, our analysis of past due accounts based on the contractual terms of the receivables, relevant market and industry reports and our assessment of the economic status of our customers, if known. Estimated credit losses are written off in the period in which the financial asset is determined to be no longer collectible. There can be no assurance that actual results will not differ from estimates or that consideration of these factors in the future will not result in an increase or decrease to our allowance for credit losses.

Changes in allowance for expected credit losses consist of the following:


			Additions
(in thousands)	Balance at Beginning of Period		Charged to Expenses		Deductions Note (1)		Balance at End of Period

Allowance for expected credit losses:

Year ended December 31, 2021	$	5,581	$	1,354	$	1,638	$	5,297
Year ended December 31, 2020	4,472		2,229		1,120		5,581

______________________________________

(1) Amounts written off as uncollectible or transferred to other accounts or utilized.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2021

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 as of December 31:


(in thousands)	2021		2020

Income taxes receivable	$	8,403	$	7,053
Prepaid expenses	2,865		4,812
Maintenance agreements, current portion	1,717		2,513
Other current assets	8,879		5,101

Total	$	21,864	$	19,479

DISCONTINUATION OF LINES OF BUSINESS	12 Months Ended
DISCONTINUATION OF LINES OF BUSINESS	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUATION OF LINES OF BUSINESS	SALE OF BUSINESSES Pointillist Business On October 6, 2021 Altisource and other shareholders of Pointillist entered into a definitive Stock Purchase Agreement (as amended, the “SPA”) to sell all of the equity interests in Pointillist to Genesys Cloud Services, Inc. (“Genesys”) for $150.0 million (the “Purchase Price”) (the “Transaction”). The Purchase Price consisted of (1) an up-front payment of $144.5 million, subject to certain adjustments, (2) $0.5 million deposited into an escrow account to be used to satisfy potential deficits between estimated closing date working capital and actual closing date working capital (the “Working Capital Escrow”), with excess amounts remaining after satisfying such deficits (if any) being paid to the sellers, and (3) $5.0 million deposited into an escrow account to satisfy certain Genesys indemnification claims that may arise on or prior to the first anniversary of the sale closing and, at Genesys’ election, any working capital deficits that exceed the Working Capital Escrow (the “Indemnification Escrow”), with the balance to be paid to the sellers thereafter. The Transaction closed on December 1, 2021. On a fully diluted basis, Altisource owned approximately 69% of the equity of Pointillist. After working capital and other applicable adjustments, Altisource received approximately $106.0 million from the sale of its Pointillist equity and the collection of outstanding receivables, with $102.2 million received at closing, approximately $0.3 million deposited into the Working Capital Escrow and approximately $3.5 million deposited into the Indemnification Escrow. The present value of the amounts in escrow is included in other current assets in the accompanying consolidated balance sheets at a discounted value of $3.6 million as of December 31, 2021 (no comparative amount as of December 31, 2020). Altisource recognized a pre-tax and after-tax gain of approximately $88.9 million from the sale. 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. On July 1, 2020, the Company received net proceeds of $3.3 million representing TSI’s final installment payment less certain amounts owed to TSI. Rental Property Management Business In August 2018, Altisource entered into an amendment to its agreements with Front Yard Residential Corporation (“RESI”) to sell Altisource’s rental property management business to RESI and permit RESI to internalize certain services that had been provided by Altisource. The proceeds from the transaction totaled $18.0 million, payable in two installments. The first installment of $15.0 million was received in August 2018 and the second installment of $3.0 million was received in January 2021. The present value of the second installment is included in other assets in the accompanying consolidated balance sheets at a discounted value of $2.5 million as of December 31, 2020 (no comparative amount as of December 31, 2021).

PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

Premises and equipment, net consists of the following as of December 31:


(in thousands)	2021		2020

Computer hardware and software	$	50,452	$	52,837
Leasehold improvements	5,927		14,792
Furniture and fixtures	4,441		5,882
Office equipment and other	811		1,817
	61,631		75,328
Less: Accumulated depreciation and amortization	(54,758)		(63,434)

Total	$	6,873	$	11,894

Depreciation and amortization expense amounted to $4.6 million and $14.9 million for the years ended December 31, 2021 and 2020, respectively, and is included in cost of revenue for operating assets and in selling, general and administrative expenses for non-operating assets in the consolidated statements of operations and comprehensive income (loss).

Premises and equipment, net consist of the following, by country, as of December 31:


(in thousands)	2021		2020

Luxembourg	$	3,883	$	5,451
United States	1,932		5,530
India	999		822
Uruguay	59		91


Total	$	6,873	$	11,894

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET

Right-of-use assets under operating leases, net consists of the following as of December 31:


(in thousands)	2021		2020

Right-of-use assets under operating leases	$	19,595	$	31,932
Less: Accumulated amortization	(12,001)		(13,719)

Total	$	7,594	$	18,213

Amortization of operating leases was $7.9 million and $10.2 million for the years ended December 31, 2021 and 2020, respectively, and is included in cost of revenue for operating assets and in selling, general and administrative expenses for non-operating assets in the consolidated statements of operations and comprehensive income (loss).

GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Changes in goodwill during the years ended December 31, 2021 and 2020 are summarized below:


(in thousands)	Total

Balance as of January 1, 2020 and December 31, 2020	$	73,849

Write-off (1)	(17,889)

Balance as of December 31, 2021	$	55,960

______________________________________

(1) During 2021, the Company sold its equity interest in Pointillist (See Note 4 for additional information) which had $17.9 million of goodwill attributed to it. The amount of goodwill attributable to Pointillist was based on the relative fair values of Pointillist and the Company excluding Pointillist. Pointillist was determined to be a business within the Company’s existing reporting unit.

Intangible Assets, Net

Intangible assets, net consist of the following as of December 31:


	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization				Net book value
(in thousands)		2021		2020		2021		2020		2021		2020

Definite lived intangible assets:
Customer related intangible assets	9	$	214,307	$	214,973	$	(194,594)	$	(187,923)	$	19,713	$	27,050
Operating agreement	20	35,000		35,000		(20,854)		(19,126)		14,146		15,874
Trademarks and trade names	16	9,709		9,709		(6,709)		(6,307)		3,000		3,402
Non-compete agreements	—	—		1,230		—		(1,230)		—		—

Other intangible assets	—	—		1,800		—		(1,800)		—		—

Total		$	259,016	$	262,712	$	(222,157)	$	(216,386)	$	36,859	$	46,326

Amortization expense for definite lived intangible assets was $9.5 million and $14.7 million for the years ended December 31, 2021 and 2020, respectively. Forecasted annual definite lived intangible asset amortization expense for 2022 through 2026 is $5.1 million, $5.1 million, $5.1 million, $5.1 million and $4.9 million, respectively.

OTHER ASSETS

12 Months Ended

Dec. 31, 2021

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

OTHER ASSETS

Other assets consist of the following as of December 31:


(in thousands)	2021		2020

Restricted cash	$	4,017	$	3,833
Security deposits	1,043		2,416
Other	1,072		3,601

Total	$	6,132	$	9,850

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accounts payable and accrued expenses consist of the following as of December 31:


(in thousands)	2021		2020

Accounts payable	$	15,978	$	16,797
Accrued expenses - general	13,653		24,422
Accrued salaries and benefits	12,254		11,226
Income taxes payable	4,650		4,334

Total	$	46,535	$	56,779

Other current liabilities consist of the following as of December 31:


(in thousands)	2021		2020

Operating lease liabilities	$	2,893	$	7,609
Other	977		1,696

Total	$	3,870	$	9,305

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of the following as of December 31:


(in thousands)	2021		2020

Senior secured term loans	$	247,204	$	247,204
Less: Debt issuance costs, net	(1,632)		(2,389)
Less: Unamortized discount, net	(1,494)		(2,159)
Total Senior secured term loans	244,078		242,656

Credit Facility	—		—
Less: Debt issuance costs, net	(441)		—
Total Credit facility	(441)		—



Total Long-term debt	$	243,637	$	242,656

Credit Agreement

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. Altisource terminated the revolving credit facility on December 1, 2021. Altisource Portfolio Solutions S.A. and certain subsidiaries are guarantors of the Term B Loans (collectively, the “Guarantors”).

There are no mandatory repayments of the Term B Loans except as set forth below until the April 2024 maturity when the balance is due. During 2020, the Company sold 3.5 million RESI shares for net proceeds of $46.6 million, and used the net proceeds to repay a portion of the senior secured term loan (see Note 5). This repayment was applied to contractual amortization payments in the direct order of 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 as of each year-end computation date 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).

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 and, after giving effect to the incremental borrowing, the Company’s leverage ratio does not exceed 3.00 to 1.00. 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 December 31, 2021 was 5.00%.

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.

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) failure to pay principal or interest on any other debt that equals or exceeds $40.0 million when due, (v) 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, (vi) occurrence of a Change of Control, (vii) bankruptcy and insolvency events, (viii) 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, (ix) the occurrence of certain ERISA events and (x) 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 December 31, 2021, debt issuance costs were $1.6 million, net of $2.9 million of accumulated amortization. As of December 31, 2020, debt issuance costs were $2.4 million, net of $2.2 million of accumulated amortization.

Interest expense on the senior secured term loans, including amortization of debt issuance costs and the net debt discount, totaled $13.9 million and $17.7 million for the years ended December 31, 2021 and 2020, respectively.

Maturities of our long-term debt are as follows:


(in thousands)	Maturities

2022	$	—
2023	—
2024	247,204

	$	247,204

Credit Facility

On June 22, 2021 Altisource S.à r.l, a subsidiary of Altisource Portfolio Solutions S.A., entered into a revolving credit facility with a related party, STS Master Fund, Ltd. (“STS”) (the “Credit Facility”). STS is an investment fund managed by Deer Park Road Management Company, LP. Deer Park Road Management Company, LP owns approximately 24% of Altisource’s common stock as of December 31, 2021 and its Chief Investment Officer and managing partner is a member of Altisource’s Board of Directors. Under the terms of the Credit Facility, STS will make loans to Altisource from time to time, in amounts requested by Altisource and Altisource may voluntarily prepay all or any portion of the outstanding loans at any time. The Credit Facility provides Altisource the ability to borrow a maximum amount of $20.0 million through June 22, 2022, $15.0 million through June 22, 2023, and $10.0 million until the end of the term. Amounts that are repaid may be re-borrowed in accordance with the limitations set forth below.

Outstanding amounts borrowed pursuant to the Credit Facility will amortize over the three-year term as follows: on June 22, 2022, the difference between the then outstanding balance above $15.0 million and $15.0 million, on June 22, 2023, the difference between the then outstanding balance above $10.0 million and $10.0 million, and on June 22, 2024, the then outstanding balance of the loan will be due and payable by Altisource.

Borrowings under the Credit Facility bear interest at 9.00% per annum and are payable quarterly on the last business day of each March, June, September and December, commencing on September 30, 2021. In connection with the Credit Facility, Altisource is required to pay customary fees, including an upfront fee equal to $0.5 million at the initial extension of credit pursuant to the facility, an unused line fee of 0.5% and, an early termination fee in the event of a refinancing transaction.

Altisource’s obligations under the Credit Facility are secured by a lien on all equity in Altisource’s subsidiary incorporated in India, Altisource Business Solutions Private Limited, pursuant to a pledge agreement entered into by Altisource Asia Holdings Ltd I, a wholly owned subsidiary Altisource.

The Credit Facility contains additional representations, warranties, covenants, terms and conditions customary for transactions of this type, that restrict or limit, among other things, our ability to use the proceeds of credit only for general corporate purposes.

The Credit Facility 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 Facility within three business days of becoming due, (ii) failure to perform or observe any material provisions of the Credit Documents to be performed or complied with, (iii) material incorrectness of representations and warranties when made, (iv) 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, (v) 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, (vi) occurrence of a Change of Control, (vii) bankruptcy and insolvency events. If any event of default occurs and is not cured within applicable grace periods set forth in the Credit Facility or waived, all loans and other obligations could become due and immediately payable and the facility could be terminated.

As of December 31, 2021, there was no outstanding debt under the Credit Facility. Debt issuance costs were $0.4 million, net of $0.1 million of accumulated amortization.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-Paragraph 1B
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

OTHER NON-CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

OTHER NON-CURRENT LIABILITIES

Other non-current liabilities consist of the following as of December 31:


(in thousands)	2021		2020

Operating lease liabilities	$	5,029	$	12,281
Income tax liabilities	14,156		12,414
Deferred revenue	—		504
Other non-current liabilities	81		40

Total	$	19,266	$	25,239

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2021

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 December 31, 2021 and 2020. The following fair values are estimated using market information and what the Company believes to be appropriate valuation methodologies under GAAP:


	December 31, 2021								December 31, 2020
(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	$	98,132	$	98,132	$	—	$	—	$	58,263	$	58,263	$	—	$	—
Restricted cash	4,017		4,017		—		—		3,833		3,833		—		—

Short-term receivable	3,643		—		—		3,643		—		—		—		—
Long-term receivable	—		—		—		—		2,531		—		—		2,531

Liabilities:
Senior secured term loan	247,204		—		224,956		—		247,204		—		201,472		—

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.

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 Pointillist in December 1, 2021, Altisource is to receive $3.5 million on the first anniversary of the sale closing and $0.3 million following the confirmation of closing date working capital (See Note 4 for additional information). We measure short-term receivables without a stated interest rate based on the present value of the future payments.

In connection with the sale of the rental property management business in August 2018, Altisource was to receive $3.0 million on the earlier of a RESI change of control or on August 8, 2023. On October 19, 2020, RESI announced that it had entered into a definitive merger agreement to sell RESI. The merger closed on January 11, 2021 and the Company subsequently received the $3.0 million payment (See Note 4 for additional information). We measure long-term receivables without a stated interest rate based on the present value of the future payments.

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

Concentrations of Credit Risk

Financial instruments that subject us to concentrations of credit risk primarily consist of cash and cash equivalents and accounts receivable. Our policy is to deposit our cash and cash equivalents with larger, highly rated financial institutions. The Company derived 31% of its revenue from Ocwen for the year ended December 31, 2021 (see Note 3 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

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION

SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION

Common Stock

As of December 31, 2021, we had 100.0 million shares authorized, 25.4 million issued and 15.9 million shares of common stock outstanding. As of December 31, 2020, we had 100.0 million shares authorized, 25.4 million shares issued and 15.7 million shares of common stock outstanding. The holders of shares of Altisource common stock generally are entitled to one vote for each share on all matters voted on by shareholders, and the holders of such shares generally will possess all voting power.

Equity Incentive Plan

Our 2009 Equity Incentive Plan (the “Plan”) provides for various types of equity awards, including stock options, stock appreciation rights, stock purchase rights, restricted shares, restricted share units and other awards, or a combination of any of the above. Under the Plan, we may grant up to 6.7 million Altisource share-based awards to officers, directors, employees and to employees of our affiliates. As of December 31, 2021, 1.2 million share-based awards were available for future grant under the Plan. Expired and forfeited awards are available for reissuance.

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 December 31, 2021, 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 years ended December 31, 2021 and 2020. 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 December 31, 2021, we can repurchase up to approximately $80 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 $437 million as of December 31, 2021, and may prevent repurchases in certain circumstances, including if our leverage ratio exceeds 3.50 to 1.00.

Share-Based Compensation

We issue share-based awards in the form of stock options, restricted shares and restricted share units for certain employees, officers and directors. We recognized share-based compensation expense of $2.8 million and $7.8 million for the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, estimated unrecognized compensation costs related to share-based awards amounted to $2.4 million, which we expect to recognize over a weighted average remaining requisite service period of approximately 1.29 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 181 thousand service-based options were outstanding as of December 31, 2021.

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 140 thousand market-based options were outstanding as of December 31, 2021.

Performance-Based Options. These option grants generally will vest if certain specific financial measures are achieved; typically with one-fourth vesting on each anniversary of the grant date. 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, unless the performance criteria is met prior to termination of service in which case vesting will generally continue in accordance with the provisions of the award agreement. There were 366 thousand performance-based options outstanding as of December 31, 2021.

There were no stock options granted during 2021 and 2020.

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 weighted average grant date fair value of stock options granted per share, the total intrinsic value of stock options exercised and the grant date fair value of stock options that vested during the years ended December 31:


(in thousands, except per share data)	2021		2020



Grant date fair value of stock options that vested	$	1,203	$	2,730

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, 2020	899,914	$	32.47	5.63	$	—


Forfeited	(212,575)	32.18

Outstanding as of December 31, 2021	687,339	27.99		4.57	—

Exercisable as of December 31, 2021	525,707	28.48		4.63	—

The following table summarizes information about stock options outstanding and exercisable as of December 31, 2021:


	Options outstanding				Options exercisable
Exercise price range (1)	Number	Weighted average remaining contractual life (in years)	Weighted average exercise price		Number	Weighted average remaining contractual life (in years)	Weighted average exercise price

$10.01 — $20.00	127,400	3.29	$	18.79	123,238	3.29	$	18.79
$20.01 — $30.00	415,710	5.13	24.87		326,338	4.95	24.84
$30.01 — $40.00	30,729	4.61	33.10		18,506	4.57	33.40


$60.01 — $70.00	58,500	0.19	60.76		43,875	0.19	60.76

$80.01 — $90.00	25,000	2.60	86.69		6,250	2.60	86.69
$90.01 — $100.00	30,000	2.75	96.87		7,500	2.75	96.87



	687,339				525,707

______________________________________

(1) These options contain market-based and performance-based components as described above.

The following table summarizes the market prices necessary in order for the market-based options to begin to vest:


	Market-based options
Vesting price	Ordinary performance		Extraordinary performance


$50.01 — $60.00	7,756		4,162
$60.01 — $70.00	8,148		6,250

$80.01 — $90.00	—		3,878
$90.01 — $100.00	—		4,075







$170.01 — $180.00	12,500		—
$180.01 — $190.00	—		14,625
Over $190.00	15,000		13,750

Total	43,404		46,740

Weighted average share price	$	69.52	$	55.89

Other Share-Based Awards

The Company’s other share-based and similar types of awards are comprised of restricted shares and restricted share units. The restricted shares and restricted share units are comprised of a combination of service-based awards, performance-based awards and market-based awards.

Service-Based Awards. These awards generally vest over two to four year periods with vesting in equal annual installments. A total of 249 thousand service-based awards were outstanding as of December 31, 2021.

Performance-Based Awards. These awards generally vest if certain specific financial measures are achieved; generally 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 is 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 150% 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 187 thousand performance-based awards were outstanding as of December 31, 2021.

Market-Based Awards. 50% of these awards generally vest if certain specific market conditions are achieved over a 30-day period and the remaining 50% of these awards generally vest on the one year anniversary of the initial vesting. The Company estimates the grant date fair value of these awards using a lattice (binomial) model. A total of 112 thousand market-based awards were outstanding as of December 31, 2021.

Performance-Based and Market-Based Awards. These awards generally vest if certain specific financial measures are achieved and if certain specific market conditions are achieved. 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 300% of the restricted share unit award for certain awards. If the performance criteria or the market criteria is below certain thresholds, the award is canceled. The Company estimates the grant date fair value of these awards using a Monte Carlo simulation model. A total of 77 thousand performance-based and market-based awards were outstanding as of December 31, 2021.

The Company granted 368 thousand restricted share units (at a weighted average grant date fair value of $9.57 per share) during the year ended December 31, 2021. These grants include 29 thousand performance-based awards that include both a performance condition and a market condition, and 89 thousand performance-based awards for the year ended December 31, 2021.

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, 2020			878,521
Granted			368,412
Issued			(246,382)
Forfeited/canceled			(374,913)

Outstanding as of December 31, 2021			625,638

The following assumptions were used to determine the fair values for the performance-based awards that include both a performance condition and a market condition, and fair values for market-based awards as of the grant date for the years ended December 31:


	2021		2020
	Monte Carlo	Binomial	Monte Carlo	Binomial

Risk-free interest rate (%)	0.16	—	2.47	0.09 - 0.27
Expected stock price volatility (%)	39.54	—	17.72	80.36
Expected dividend yield	—	—	—	—
Expected life (in years)	3	—	3	2
Fair value	$10.16	$—	$—	$12.58

REVENUE

12 Months Ended

Dec. 31, 2021

Revenues [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. 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 2). Our services are provided to customers located in the United States. The components of revenue were as follows for the years ended December 31:


(in thousands)	2021		2020

Service revenue	$	170,613	$	347,313
Reimbursable expenses	6,555		16,285
Non-controlling interests	1,285		1,949

Total	$	178,453	$	365,547

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

For the year ended December 31, 2021	$	157,855	$	14,043	$	6,555	$	178,453
For the year ended December 31, 2020	332,084		17,178		16,285		365,547

Contract Balances

Our contract assets consist of unbilled accounts receivable (see Note 6). Our contract liabilities consist of current deferred revenue and other non-current liabilities as reported on the accompanying consolidated balance sheets. Revenue recognized that was included in the contract liability at the beginning of the period was $5.5 million and $4.8 million for the years ended December 31, 2021 and 2020, 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
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&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=123351226&loc=SL49130554-203045

+ Details

COST OF REVENUE

12 Months Ended

Dec. 31, 2021

Cost of Revenue [Abstract]

COST OF REVENUE

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


(in thousands)	2021		2020

Compensation and benefits	$	69,990	$	94,365
Outside fees and services	66,386		146,322
Technology and telecommunications	25,273		35,912
Reimbursable expenses	6,555		16,285
Depreciation and amortization	3,162		12,310


Total	$	171,366	$	305,194

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

12 Months Ended

Dec. 31, 2021

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, technology, law, compliance, human resources, vendor management, facilities and risk management roles. This category also includes professional services fees, occupancy costs, marketing costs, depreciation and amortization of non-operating assets and other expenses. The components of selling, general and administrative expenses were as follows for the years ended December 31:


(in thousands)	2021		2020

Compensation and benefits	$	28,367	$	35,521
Professional services	10,163		11,444
Amortization of intangible assets	9,467		14,720
Occupancy related costs	9,332		19,363
Marketing costs	2,157		3,325
Depreciation and amortization	1,430		2,580
Other	6,133		5,783

Total	$	67,049	$	92,736

OTHER INCOME (EXPENSE), NET

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

OTHER INCOME (EXPENSE), NET

Other income (expense), net consists of the following for the years ended December 31:


(in thousands)	2021		2020

Interest income	$	4	$	114

Other, net	860		261

Total	$	864	$	375

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of income before income taxes and non-controlling interests consist of the following for the years ended December 31:


(in thousands)	2021		2020

Domestic - Luxembourg	$	25,490	$	(50,822)
Foreign - U.S.	(9,536)		(13,243)
Foreign - non-U.S.	(669)		6,359

Total	$	15,285	$	(57,706)

The income tax provision consists of the following for the years ended December 31:


(in thousands)	2021		2020

Current:
Domestic - Luxembourg	$	—	$	(2,158)
Foreign - U.S. federal	(432)		4,992
Foreign - U.S. state	(308)		(322)
Foreign - non-U.S.	(3,197)		(6,088)

	$	(3,937)	$	(3,576)
Deferred:
Domestic - Luxembourg	$	(140)	$	224
Foreign - U.S. federal	519		(2,808)
Foreign - U.S. state	836		(465)
Foreign - non-U.S.	(510)		(1,984)

	$	705	$	(5,033)

Income tax provision	$	(3,232)	$	(8,609)

We operate in a Uruguay free trade zone that provides an indefinite future tax benefit. The tax holiday is conditioned upon our meeting certain employment and investment thresholds. The impact of these tax holidays decreased foreign taxes by $0.1 million ($0.01 per diluted share) and $0.1 million ($0.01 per diluted share) for the years ended December 31, 2021 and 2020, respectively.

The Company accounts for certain income and expense items differently for financial reporting purposes and income tax purposes. We recognize deferred income tax assets and liabilities for these differences between the financial reporting basis and the tax basis of our assets and liabilities as well as expected benefits of utilizing net operating loss and credit carryforwards. We measure deferred income tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which we expect to recover or settle those temporary differences.

A summary of the tax effects of the temporary differences is as follows for the years ended December 31:


(in thousands)	2021		2020

Non-current deferred tax assets:
Net operating loss carryforwards	$	368,824	$	353,358
U.S. federal and state tax credits	194		242
Other non-U.S. deferred tax assets	13,326		11,327
Share-based compensation	1,220		1,658
Accrued expenses	962		1,205
Unrealized losses	10,397		10,351

Non-current deferred tax liabilities:
Intangible assets	(8,290)		(8,133)
Depreciation	61		(441)
Other non-U.S. deferred tax liability	(523)		(7)
Other	334		(736)
	386,505		368,824

Valuation allowance	(389,147)		(372,227)

Non-current deferred tax liabilities, net	$	(2,642)	$	(3,403)

A valuation allowance is provided when it is deemed more likely than not that some portion or all of a deferred tax asset will not be realized. In determining whether a valuation allowance is needed requires an extensive analysis of positive and negative evidence regarding realization of the deferred tax assets and, inherent in that, an assessment of the likelihood of sufficient future taxable income. When there is a cumulative pretax loss for financial reporting for the current and two preceding years (i.e., a three year cumulative loss), this is a significant element of negative evidence that would be difficult to overcome on a more likely than not or any other basis. Therefore, the Company’s valuation allowance was $389.1 million and $372.2 million for the year ending December 31, 2021 and 2020, respectively.

Prior to 2020, the Company did not recognize deferred taxes on cumulative earnings of subsidiaries other than Luxembourg and the Philippines because the Company intended for those earnings to be indefinitely reinvested. In 2020, the Company recognized income tax expense on $68 million of accumulated earnings in India that had previously been considered indefinitely reinvested and began recognizing income tax expense on earnings in India. In 2021, the Company recognized income tax expense on a $15 million dividend from the Company’s India subsidiary to its parent. The Company continues to remain indefinitely reinvested in all other non-Luxembourg earnings not previously discussed. The other non-Luxembourg earnings reinvested as of December 31, 2021 were approximately $3.7 million, which if distributed would result in no additional tax due.

The Company had a deferred tax asset of $368.8 million as of December 31, 2021 relating to Luxembourg, U.S. federal, state and foreign net operating losses compared to $353.4 million as of December 31, 2020. As of December 31, 2021 and 2020, a valuation allowance of $367.8 million and $349.8 million, respectively, has been established related to Luxembourg net operating loss (“NOL”). As of December 31, 2020 a valuation allowance of $0.8 million has been established related to state NOLs and a valuation allowance of $2.4 million has been established related to U.S. federal NOLs (no comparative amounts for the year ended December 31, 2021). The gross amount of net operating losses available for carryover to future years is approximately $1,476.8 million as of December 31, 2021 and approximately $1,415.9 million as of December 31, 2020. These losses are scheduled to expire between the years 2023 and 2041.

In addition, the Company had a deferred tax asset of $0.8 million and $0.9 million as of December 31, 2021 and 2020, respectively, relating to state tax credits. Some of the state tax credit carryforwards have an indefinite carryforward period.

The Company is taking advantage of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act signed into law on March 27, 2020 by utilizing a five year carryback of the full $14.8 million net operating loss generated in the U.S. in 2020.

The effective tax rate differs from the Luxembourg statutory tax rate due to tax rate differences on foreign earnings, increases in uncertain tax positions, state taxes, remeasurement of deferred tax assets related to tax rate changes, a decrease in unrecognized tax benefits, tax exempt income primarily from the sale of Pointillist (see Note 4) and a valuation allowance against deferred tax assets the Company believes it is more likely than not will not be realized

The following table reconciles the Luxembourg statutory tax rate to our effective tax rate for the years ended December 31:


	2021		2020

Statutory tax rate	24.94	%	24.94	%
Change in valuation allowance	130.03		(29.79)
State tax expense	(3.87)		(1.25)
Tax credits	0.36		0.10
Uncertain tax positions	11.82		(2.94)

Income tax rate change	—		(2.40)
Tax rate differences on foreign earnings	6.46		(6.62)
Tax Exempt Income	(145.91)		—
Other	(2.70)		3.04

Effective tax rate	21.14	%	(14.92)	%

The Company follows ASC Topic 740 which clarifies the accounting and disclosure for uncertainty in tax positions. We analyzed our tax filing positions in the domestic and foreign tax jurisdictions where we are required to file income tax returns as well as for all open tax years subject to audit in these jurisdictions. The Company has open tax years in the United States (2015 through 2020), India (2011 through 2021) and Luxembourg (2015 through 2019).

The following table summarizes changes in unrecognized tax benefits during the years ended December 31:


(in thousands)	2021		2020

Amount of unrecognized tax benefits as of the beginning of the year	$	8,541	$	9,767
Decreases as a result of tax positions taken in a prior period	(1,648)		(2,591)
Increases as a result of tax positions taken in a prior period	2,130		767
Increases as a result of tax positions taken in the current period	—		598

Amount of unrecognized tax benefits as of the end of the year	$	9,023	$	8,541

The total amount of unrecognized tax benefits including interest and penalties that, if recognized, would affect the effective tax rate is $14.9 million and $13.2 million as of December 31, 2021 and 2020, respectively. The Company recognizes interest, if any, related to unrecognized tax benefits as a component of income tax expense. As of December 31, 2021 and 2020, the Company had recorded accrued interest and penalties related to unrecognized tax benefits of $5.8 million and $4.6 million, respectively.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHAREBasic earnings (loss) per share is computed by dividing earnings (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the assumed conversion of all dilutive securities using the treasury stock method. Diluted net earnings (loss) per share excludes all dilutive securities because their impact would be anti-dilutive, as described below.

Basic and diluted earnings (loss) per share are calculated as follows for the years ended December 31:


(in thousands, except per share data)	2021		2020

Net income (loss) attributable to Altisource	$	11,812	$	(67,156)

Weighted average common shares outstanding, basic	15,839		15,598
Dilutive effect of stock options, restricted shares and restricted share units	224		—

Weighted average common shares outstanding, diluted	16,063		15,598

Earnings (loss) per share:
Basic	$	0.75	$	(4.31)
Diluted	$	0.74	$	(4.31)

For the years ended December 31, 2021 and, 2020, 1.2 million and 1.6 million, respectively, stock options, restricted shares and restricted share units were excluded from the computation of earnings (loss) per share, as a result of the following:

•For the year ended December 31, 2020, 0.2 million stock options, restricted shares and restricted share units were anti-dilutive and have been excluded from the computation of diluted earnings (loss) per share as a result of the net loss attributable to Altisource for the year ended December 31, 2020.

•For the years ended December 31, 2021 and 2020, 0.3 million and 0.5 million, respectively, stock options were anti-dilutive and have been excluded from the computation of diluted earnings (loss) per share because their exercise price was greater than the average market price of our common stock

•For the years ended December 31, 2021 and 2020, 0.9 million and 0.9 million, 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 a total shareholder return compared to the market benchmark that have not yet been met in each period have been excluded from the computation of diluted earnings (loss) per share.

RESTRUCTURING CHARGES	12 Months Ended
RESTRUCTURING CHARGES	Dec. 31, 2021
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 (finalized in 2020). During the year ended December 31, 2020 Altisource incurred $12.0 million of severance costs, professional services fees, facility consolidation costs, technology costs and business wind down costs related to the plan (no comparative amount for the year ended December 31, 2021).

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS

12 Months Ended

Dec. 31, 2021

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 year ended December 31, 2019, the Company completed the analysis of its services for potential exposure to sales tax in various jurisdictions in the United States. The Company recognized a $(2.7) million net loss reimbursement for the year ended December 31, 2020 (no comparative amount for the year ended December 31, 2021), in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). The Company began invoicing, collecting and remitting sales tax in applicable jurisdictions in 2019. Future changes in our estimated sales tax exposure could result in a material adjustment to our consolidated financial statements, which would impact our financial condition and results of operations.

Ocwen Related Matters

As discussed in Note 3, during the year ended December 31, 2021, Ocwen was our largest customer, accounting for 31% of our total revenue. Additionally, 5% of our revenue for the year ended December 31, 2021 was earned on the loan portfolios serviced by Ocwen, when a party other than Ocwen or the MSRs 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 and threatened legal proceedings, some of which include claims against Ocwen for substantial monetary damages. 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. Existing or future similar matters could result in adverse regulatory or other actions against Ocwen. In addition to the above, Ocwen may become subject to future adverse regulatory or other actions.

Ocwen has disclosed that NRZ is its largest client. As of December 31, 2021, approximately 21% of loans serviced and subserviced by Ocwen (measured in UPB) were related to NRZ MSRs or rights to MSRs. 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 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 MSR investor instructed Ocwen to use a field services provider other than Altisource on properties associated with certain MSRs. Based upon the impacted portfolios and the designated service provider, Altisource believes that Ocwen received these directions from NRZ. We believe Ocwen commenced using another field services provider for these properties in July 2020 and continued to transition services during the third quarter of 2020. We believe that the transition to the replacement field service provider was largely completed as of September 30, 2020. We estimate that $0.5 million and $70.1 million of service revenue from Ocwen for the years ended December 31, 2021 and 2020, respectively, was derived from Field Services referrals from the NRZ portfolios. Ocwen also communicated to Altisource in the fourth quarter of 2020 that the same investor instructed Ocwen to use a provider for default valuations and certain default title services other than Altisource on properties associated with such certain MSRs and commenced moving these referrals to other service providers in the fourth quarter of 2020, , with the bulk of such transition occurring during 2021. We anticipate that the transition of such default valuations and title services will continue during the course of 2022. We estimate that $2.9 million and $18.2 million of service revenue from Ocwen for the years ended December 31, 2021 and 2020, respectively, was derived from default valuations and title services referrals from the NRZ portfolios. To address the reduction in revenue, Altisource undertook several measures to further reduce its cost structure, strengthen its operations and generate cash.

On May 5, 2021 we entered into an Agreement with Ocwen pursuant to which the terms of certain services agreements between us and Ocwen were extended from August 2025 through August 2030 and the scope of solutions we provide to Ocwen was expanded to include, among other things, the opportunity for the Company to provide first and second chance foreclosure auctions on Government Loans, and title services on FHA and Veterans Affairs loans, subject to a process to confirm Altisource’s ability to meet reasonable performance requirements, which process is continuing. The Agreement established a framework for us to expand the foreclosure trustee solutions we provide to Ocwen in additional states, and, as mutually agreed upon by the parties, to deliver reverse mortgage related solutions to Ocwen, subject to negotiation of appropriate statements of work or other agreements, a process to confirm Altisource’s ability to meet reasonable performance requirements, and technical integrations, as may be applicable. The Agreement further resolved the contractual dispute between the parties related to Ocwen’s transfer to NRZ the rights to designate service providers other than Altisource, including mutual releases with respect to such dispute. The Agreement also addressed Ocwen’s rights in the event of certain change of control or sale of a business transactions by us on or after September 1, 2028. Since the date of the Agreement, Ocwen has transitioned over 2,300 of its foreclosure auction inventory on Government Loans to us and increased our percentage of field services referrals on its Government Loans.

In addition to expected reductions in our revenue from the transition of referrals for default related services previously identified, 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 or FHA servicing rights or subservicing arrangements or remaining other servicing rights or subservicing arrangements and Altisource fails to be retained as a service provider

•The contractual relationship between Ocwen and NRZ changes significantly, including Ocwen’s sub-servicing arrangement with NRZ expiring without renewal, 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 to address some of the impact to revenue and that current liquidity 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

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 $1.0 million and $1.4 million for the years ended December 31, 2021 and 2020, respectively. The amortization periods 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 December 31:


	2021		2020

Weighted average remaining lease term (in years)	3.30		3.18
Weighted average discount rate	5.84	%	7.01	%

Our lease activity was as follows for the years ended December 31:


(in thousands)	2021		2020

Operating lease costs:
Selling, general and administrative expense	$	6,026	$	9,712
Cost of revenue	2,294		1,919

Cash used in operating activities for amounts included in the measurement of lease liabilities	$	9,072	$	13,113
Short-term (twelve months or less) lease costs	(1,017)		3,797

Maturities of our lease liabilities as of December 31, 2021 are as follows:


(in thousands)	Operating lease obligations

2022	$	3,090
2023	2,145
2024	1,576
2025	1,109
2026	563

Total lease payments	8,483
Less: interest	(561)

Present value of lease liabilities	$	7,922

We have executed two standby letters of credit totaling $0.6 million related to two office leases that are secured by restricted cash balances.

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 consolidated balance sheets. Amounts held in escrow accounts were $27.5 million and $20.0 million as of December 31, 2021 and 2020, respectively.

SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS

For the years ended December 31, 2021 and 2020:


			Additions
(in thousands)	Balance at Beginning of Period		Charged to Expenses		Deductions Note (1)		Balance at End of Period

Deductions from asset accounts:

Allowance for expected credit losses:

Year 2021	$	5,581	$	1,354	$	1,638	$	5,297
Year 2020	4,472		2,229		1,120		5,581


Valuation allowance for deferred tax assets:

Year 2021	$	372,227	$	16,921	$	—	$	389,148
Year 2020	355,559		16,668		—		372,227

______________________________________

(1) For allowance for credit losses, amounts written off as uncollectible or transferred to other accounts or utilized.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of Accounting and Presentation

Principles of Consolidation

The financial statements include the accounts of the Company, its wholly-owned subsidiaries and those entities in which we have a variable interest and are the primary beneficiary.

Use of Estimates

Cash and Cash Equivalents

We classify all highly liquid instruments with an original maturity of three months or less at the time of purchase as cash equivalents.

Accounts Receivable, Net

Premises and Equipment, Net


Furniture and fixtures			5 years
Office equipment			5 years
Computer hardware			3-5 years
Computer software			3-7 years
Leasehold improvements			Shorter of useful life, 10 years or the term of the lease

Business Combinations

Goodwill

Intangible Assets, Net

Long-Term Debt

Fair Value Measurements

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.

Functional Currency

Defined Contribution 401(k) Plan

Defined Contribution 401(k) PlanSome of our employees currently participate in a defined contribution 401(k) plan under which we may make matching contributions equal to a discretionary percentage determined by us.

Revenue Recognition

Core Businesses

Field Services

•For property preservation and inspection services and payment management technologies, we recognize transactional revenue when the service is provided.

•For vendor management transactions and our vendor management oversight software-as-a-service (“SaaS”) platform, we recognize revenue over the period during which we perform the services.

Marketplace

Mortgage and Real Estate Solutions

•For the majority of the services we provide, we recognize transactional revenue when the service is provided.

Other Businesses

Earlier Stage Business

Other

•For loan servicing technologies, we recognized revenue based on the number of loans on the system. We generally recognized revenue from professional services over the contract period.

Share-Based Compensation

Income Taxes

Earnings Per Share

Recently Adopted Accounting Pronouncements and Future Adoption of New Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Future Adoption of New Accounting Pronouncements

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of estimated useful lives using the straight-line method


Furniture and fixtures			5 years
Office equipment			5 years
Computer hardware			3-5 years
Computer software			3-7 years
Leasehold improvements			Shorter of useful life, 10 years or the term of the lease

ACCOUNTS RECEIVABLE, NET (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of accounts receivable, net

Accounts receivable, net consists of the following as of December 31:


(in thousands)	2021		2020

Billed	$	17,907	$	19,703
Unbilled	5,398		8,291
	23,305		27,994
Less: Allowance for credit losses	(5,297)		(5,581)

Total	$	18,008	$	22,413

Changes in allowance for expected credit losses consist of the following:


			Additions
(in thousands)	Balance at Beginning of Period		Charged to Expenses		Deductions Note (1)		Balance at End of Period

Allowance for expected credit losses:

Year ended December 31, 2021	$	5,581	$	1,354	$	1,638	$	5,297
Year ended December 31, 2020	4,472		2,229		1,120		5,581

______________________________________

(1) Amounts written off as uncollectible or transferred to other accounts or utilized.

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

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 as of December 31:


(in thousands)	2021		2020

Income taxes receivable	$	8,403	$	7,053
Prepaid expenses	2,865		4,812
Maintenance agreements, current portion	1,717		2,513
Other current assets	8,879		5,101

Total	$	21,864	$	19,479

PREMISES AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of premises and equipment, net

Premises and equipment, net consists of the following as of December 31:


(in thousands)	2021		2020

Computer hardware and software	$	50,452	$	52,837
Leasehold improvements	5,927		14,792
Furniture and fixtures	4,441		5,882
Office equipment and other	811		1,817
	61,631		75,328
Less: Accumulated depreciation and amortization	(54,758)		(63,434)

Total	$	6,873	$	11,894

Schedule of premises and equipment, net by country

Premises and equipment, net consist of the following, by country, as of December 31:


(in thousands)	2021		2020

Luxembourg	$	3,883	$	5,451
United States	1,932		5,530
India	999		822
Uruguay	59		91


Total	$	6,873	$	11,894

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

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Right-of-Use Assets Under Operating Leases

Right-of-use assets under operating leases, net consists of the following as of December 31:


(in thousands)	2021		2020

Right-of-use assets under operating leases	$	19,595	$	31,932
Less: Accumulated amortization	(12,001)		(13,719)

Total	$	7,594	$	18,213

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in goodwill

Changes in goodwill during the years ended December 31, 2021 and 2020 are summarized below:


(in thousands)	Total

Balance as of January 1, 2020 and December 31, 2020	$	73,849

Write-off (1)	(17,889)

Balance as of December 31, 2021	$	55,960

______________________________________

Schedule of intangible assets, net

Intangible assets, net consist of the following as of December 31:


	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization				Net book value
(in thousands)		2021		2020		2021		2020		2021		2020

Definite lived intangible assets:
Customer related intangible assets	9	$	214,307	$	214,973	$	(194,594)	$	(187,923)	$	19,713	$	27,050
Operating agreement	20	35,000		35,000		(20,854)		(19,126)		14,146		15,874
Trademarks and trade names	16	9,709		9,709		(6,709)		(6,307)		3,000		3,402
Non-compete agreements	—	—		1,230		—		(1,230)		—		—

Other intangible assets	—	—		1,800		—		(1,800)		—		—

Total		$	259,016	$	262,712	$	(222,157)	$	(216,386)	$	36,859	$	46,326

OTHER ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

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

Schedule of other assets

Other assets consist of the following as of December 31:


(in thousands)	2021		2020

Restricted cash	$	4,017	$	3,833
Security deposits	1,043		2,416
Other	1,072		3,601

Total	$	6,132	$	9,850

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

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following as of December 31:


(in thousands)	2021		2020

Accounts payable	$	15,978	$	16,797
Accrued expenses - general	13,653		24,422
Accrued salaries and benefits	12,254		11,226
Income taxes payable	4,650		4,334

Total	$	46,535	$	56,779

Schedule of other current liabilities

Other current liabilities consist of the following as of December 31:


(in thousands)	2021		2020

Operating lease liabilities	$	2,893	$	7,609
Other	977		1,696

Total	$	3,870	$	9,305

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consists of the following as of December 31:


(in thousands)	2021		2020

Senior secured term loans	$	247,204	$	247,204
Less: Debt issuance costs, net	(1,632)		(2,389)
Less: Unamortized discount, net	(1,494)		(2,159)
Total Senior secured term loans	244,078		242,656

Credit Facility	—		—
Less: Debt issuance costs, net	(441)		—
Total Credit facility	(441)		—



Total Long-term debt	$	243,637	$	242,656

Schedule of maturities of long-term debt

Maturities of our long-term debt are as follows:


(in thousands)	Maturities

2022	$	—
2023	—
2024	247,204

	$	247,204

- 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.

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-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

OTHER NON-CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

Schedule of other non-current liabilities

Other non-current liabilities consist of the following as of December 31:


(in thousands)	2021		2020

Operating lease liabilities	$	5,029	$	12,281
Income tax liabilities	14,156		12,414
Deferred revenue	—		504
Other non-current liabilities	81		40

Total	$	19,266	$	25,239

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2021

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:


	December 31, 2021								December 31, 2020
(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	$	98,132	$	98,132	$	—	$	—	$	58,263	$	58,263	$	—	$	—
Restricted cash	4,017		4,017		—		—		3,833		3,833		—		—

Short-term receivable	3,643		—		—		3,643		—		—		—		—
Long-term receivable	—		—		—		—		2,531		—		—		2,531

Liabilities:
Senior secured term loan	247,204		—		224,956		—		247,204		—		201,472		—

- 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)

12 Months Ended

Dec. 31, 2021

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


(in thousands, except per share data)	2021		2020



Grant date fair value of stock options that vested	$	1,203	$	2,730

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, 2020	899,914	$	32.47	5.63	$	—


Forfeited	(212,575)	32.18

Outstanding as of December 31, 2021	687,339	27.99		4.57	—

Exercisable as of December 31, 2021	525,707	28.48		4.63	—

Shares authorized under stock option plans, by exercise price range

The following table summarizes information about stock options outstanding and exercisable as of December 31, 2021:


	Options outstanding				Options exercisable
Exercise price range (1)	Number	Weighted average remaining contractual life (in years)	Weighted average exercise price		Number	Weighted average remaining contractual life (in years)	Weighted average exercise price

$10.01 — $20.00	127,400	3.29	$	18.79	123,238	3.29	$	18.79
$20.01 — $30.00	415,710	5.13	24.87		326,338	4.95	24.84
$30.01 — $40.00	30,729	4.61	33.10		18,506	4.57	33.40


$60.01 — $70.00	58,500	0.19	60.76		43,875	0.19	60.76

$80.01 — $90.00	25,000	2.60	86.69		6,250	2.60	86.69
$90.01 — $100.00	30,000	2.75	96.87		7,500	2.75	96.87



	687,339				525,707

______________________________________

(1) These options contain market-based and performance-based components as described above.

Shares authorized under stock option plans by vesting price range

The following table summarizes the market prices necessary in order for the market-based options to begin to vest:


	Market-based options
Vesting price	Ordinary performance		Extraordinary performance


$50.01 — $60.00	7,756		4,162
$60.01 — $70.00	8,148		6,250

$80.01 — $90.00	—		3,878
$90.01 — $100.00	—		4,075







$170.01 — $180.00	12,500		—
$180.01 — $190.00	—		14,625
Over $190.00	15,000		13,750

Total	43,404		46,740

Weighted average share price	$	69.52	$	55.89

Restricted shares and restricted share 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, 2020			878,521
Granted			368,412
Issued			(246,382)
Forfeited/canceled			(374,913)

Outstanding as of December 31, 2021			625,638

Fair Value of Performance-based Awards


	2021		2020
	Monte Carlo	Binomial	Monte Carlo	Binomial

Risk-free interest rate (%)	0.16	—	2.47	0.09 - 0.27
Expected stock price volatility (%)	39.54	—	17.72	80.36
Expected dividend yield	—	—	—	—
Expected life (in years)	3	—	3	2
Fair value	$10.16	$—	$—	$12.58

REVENUE (Tables)

12 Months Ended

Dec. 31, 2021

Revenues [Abstract]

Schedule of revenue

The components of revenue were as follows for the years ended December 31:


(in thousands)	2021		2020

Service revenue	$	170,613	$	347,313
Reimbursable expenses	6,555		16,285
Non-controlling interests	1,285		1,949

Total	$	178,453	$	365,547

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

For the year ended December 31, 2021	$	157,855	$	14,043	$	6,555	$	178,453
For the year ended December 31, 2020	332,084		17,178		16,285		365,547

COST OF REVENUE (Tables)

12 Months Ended

Dec. 31, 2021

Cost of Revenue [Abstract]

Schedule of components of cost of revenue

The components of cost of revenue were as follows for the years ended December 31:


(in thousands)	2021		2020

Compensation and benefits	$	69,990	$	94,365
Outside fees and services	66,386		146,322
Technology and telecommunications	25,273		35,912
Reimbursable expenses	6,555		16,285
Depreciation and amortization	3,162		12,310


Total	$	171,366	$	305,194

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Tables)

12 Months Ended

Dec. 31, 2021

Selling, General and Administrative Expense [Abstract]

Schedule of the components of selling, general and administrative expenses

The components of selling, general and administrative expenses were as follows for the years ended December 31:


(in thousands)	2021		2020

Compensation and benefits	$	28,367	$	35,521
Professional services	10,163		11,444
Amortization of intangible assets	9,467		14,720
Occupancy related costs	9,332		19,363
Marketing costs	2,157		3,325
Depreciation and amortization	1,430		2,580
Other	6,133		5,783

Total	$	67,049	$	92,736

OTHER INCOME (EXPENSE), NET (Tables)

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Schedule of other income (expense), net

Other income (expense), net consists of the following for the years ended December 31:


(in thousands)	2021		2020

Interest income	$	4	$	114

Other, net	860		261

Total	$	864	$	375

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income before income tax, domestic and foreign

The components of income before income taxes and non-controlling interests consist of the following for the years ended December 31:


(in thousands)	2021		2020

Domestic - Luxembourg	$	25,490	$	(50,822)
Foreign - U.S.	(9,536)		(13,243)
Foreign - non-U.S.	(669)		6,359

Total	$	15,285	$	(57,706)

Schedule of income tax provision (benefit)

The income tax provision consists of the following for the years ended December 31:


(in thousands)	2021		2020

Current:
Domestic - Luxembourg	$	—	$	(2,158)
Foreign - U.S. federal	(432)		4,992
Foreign - U.S. state	(308)		(322)
Foreign - non-U.S.	(3,197)		(6,088)

	$	(3,937)	$	(3,576)
Deferred:
Domestic - Luxembourg	$	(140)	$	224
Foreign - U.S. federal	519		(2,808)
Foreign - U.S. state	836		(465)
Foreign - non-U.S.	(510)		(1,984)

	$	705	$	(5,033)

Income tax provision	$	(3,232)	$	(8,609)

Summary of tax effects of the temporary differences

A summary of the tax effects of the temporary differences is as follows for the years ended December 31:


(in thousands)	2021		2020

Non-current deferred tax assets:
Net operating loss carryforwards	$	368,824	$	353,358
U.S. federal and state tax credits	194		242
Other non-U.S. deferred tax assets	13,326		11,327
Share-based compensation	1,220		1,658
Accrued expenses	962		1,205
Unrealized losses	10,397		10,351

Non-current deferred tax liabilities:
Intangible assets	(8,290)		(8,133)
Depreciation	61		(441)
Other non-U.S. deferred tax liability	(523)		(7)
Other	334		(736)
	386,505		368,824

Valuation allowance	(389,147)		(372,227)

Non-current deferred tax liabilities, net	$	(2,642)	$	(3,403)

Schedule of the reconciliation of income tax provision to the Luxembourg statutory income tax rate

The following table reconciles the Luxembourg statutory tax rate to our effective tax rate for the years ended December 31:


	2021		2020

Statutory tax rate	24.94	%	24.94	%
Change in valuation allowance	130.03		(29.79)
State tax expense	(3.87)		(1.25)
Tax credits	0.36		0.10
Uncertain tax positions	11.82		(2.94)

Income tax rate change	—		(2.40)
Tax rate differences on foreign earnings	6.46		(6.62)
Tax Exempt Income	(145.91)		—
Other	(2.70)		3.04

Effective tax rate	21.14	%	(14.92)	%

Summary of income tax contingencies

The following table summarizes changes in unrecognized tax benefits during the years ended December 31:


(in thousands)	2021		2020

Amount of unrecognized tax benefits as of the beginning of the year	$	8,541	$	9,767
Decreases as a result of tax positions taken in a prior period	(1,648)		(2,591)
Increases as a result of tax positions taken in a prior period	2,130		767
Increases as a result of tax positions taken in the current period	—		598

Amount of unrecognized tax benefits as of the end of the year	$	9,023	$	8,541

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of basic and diluted EPS calculation

Basic and diluted earnings (loss) per share are calculated as follows for the years ended December 31:


(in thousands, except per share data)	2021		2020

Net income (loss) attributable to Altisource	$	11,812	$	(67,156)

Weighted average common shares outstanding, basic	15,839		15,598
Dilutive effect of stock options, restricted shares and restricted share units	224		—

Weighted average common shares outstanding, diluted	16,063		15,598

Earnings (loss) per share:
Basic	$	0.75	$	(4.31)
Diluted	$	0.74	$	(4.31)

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Lease term and assumption

Information about our lease terms and our discount rate assumption is as follows as of December 31:


	2021		2020

Weighted average remaining lease term (in years)	3.30		3.18
Weighted average discount rate	5.84	%	7.01	%

Lease activity during period

Our lease activity was as follows for the years ended December 31:


(in thousands)	2021		2020

Operating lease costs:
Selling, general and administrative expense	$	6,026	$	9,712
Cost of revenue	2,294		1,919

Cash used in operating activities for amounts included in the measurement of lease liabilities	$	9,072	$	13,113
Short-term (twelve months or less) lease costs	(1,017)		3,797

Maturities of operating lease liabilities

Maturities of our lease liabilities as of December 31, 2021 are as follows:


(in thousands)	Operating lease obligations

2022	$	3,090
2023	2,145
2024	1,576
2025	1,109
2026	563

Total lease payments	8,483
Less: interest	(561)

Present value of lease liabilities	$	7,922

ORGANIZATION (Details)	12 Months Ended
ORGANIZATION (Details)	Dec. 31, 2021 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Narrative (Details) $ in Thousands		12 Months Ended
	May 27, 2021 USD ($)	Dec. 31, 2021 USD ($) term	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Principles of Consolidation
Total assets		$ 257,808	$ 265,685
Contributions for the creation of Pointillist				$ 8,500
Sale of stock, threshold for sale of equity	$ 5,000
Defined Contribution 401(k) Plan
Expense recorded for discretionary amounts contributed		500	600
Altisource Residential Corporation
Principles of Consolidation
Unrealized gain (loss) on investment in equity securities		$ 0	4,000
Convertible Notes Due January 2023 \| Convertible Debt
Principles of Consolidation
Debt instrument, face amount	$ 1,300
Debt instrument, interest rate, stated percentage	7.00%
Pointillist, Inc.
Principles of Consolidation
Conversion of stock, equity valuation threshold	$ 13,100
Noncontrolling ownership percentage				12.10%
Variable Interest Entity, Primary Beneficiary
Principles of Consolidation
Number of agreement terms \| term		3
Agreement term		5 years
Total assets		$ 2,200	2,300
Total liabilities		$ 1,400	$ 100
Minimum
Intangible Assets, Net
Estimated useful life		4 years
Maximum
Intangible Assets, Net
Estimated useful life		20 years

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PP&E Useful Life (Details)	12 Months Ended
	Dec. 31, 2021
Furniture and fixtures
Summary of significant accounting policies
Property, plant and equipment, useful life	5 years
Office equipment
Summary of significant accounting policies
Property, plant and equipment, useful life	5 years
Computer hardware \| Minimum
Summary of significant accounting policies
Property, plant and equipment, useful life	3 years
Computer hardware \| Maximum
Summary of significant accounting policies
Property, plant and equipment, useful life	5 years
Computer software \| Minimum
Summary of significant accounting policies
Property, plant and equipment, useful life	3 years
Computer software \| Maximum
Summary of significant accounting policies
Property, plant and equipment, useful life	7 years
Leasehold improvements
Summary of significant accounting policies
Property, plant and equipment, useful life	10 years

CUSTOMER CONCENTRATION (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
CUSTOMER CONCENTRATION (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Revenue			$ 178,453	$ 365,547
Ocwen \| NRZ
Concentration Risk [Line Items]
Subservice transferred subject MSRs, initial term		5 years
Ocwen \| Customer Concentration Risk
Concentration Risk [Line Items]
Accounts receivable from largest customer	$ 3,000		3,000	5,900
Ocwen \| Customer Concentration Risk \| Billed
Concentration Risk [Line Items]
Accounts receivable from largest customer	2,800		2,800	5,100
Ocwen \| Customer Concentration Risk \| Unbilled
Concentration Risk [Line Items]
Accounts receivable from largest customer	$ 200		$ 200	$ 800
Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk [Line Items]
Concentration risk			31.00%	54.00%
Revenue			$ 55,600	$ 197,800
Ocwen \| Customer Concentration Risk \| Revenue \| NRZ
Concentration Risk [Line Items]
Concentration risk			21.00%
Highly Correlated - Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk [Line Items]
Concentration risk			5.00%
Revenue			$ 9,500	23,800
Ocwen, Investor \| Mortgage Servicing Rights
Concentration Risk [Line Items]
Revenue			500	70,100
Ocwen, Investor \| Default Valuations and Title Services
Concentration Risk [Line Items]
Revenue			2,900	18,200
NRZ
Concentration Risk [Line Items]
Subservice transferred subject MSRs, initial term	5 years
NRZ \| Customer Concentration Risk \| Revenue
Concentration Risk [Line Items]
Revenue			3,100	8,600	$ 12,500
Highly Correlated - NRZ \| Customer Concentration Risk \| Revenue
Concentration Risk [Line Items]
Revenue			$ 13,600	$ 35,100	$ 60,000

SALE OF BUSINESSES (Details) $ in Thousands					1 Months Ended	3 Months Ended	12 Months Ended
SALE OF BUSINESSES (Details) $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 01, 2021 USD ($)	Oct. 06, 2021 USD ($)	Jan. 11, 2021 USD ($)	Aug. 31, 2018 USD ($) installment	Dec. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jul. 01, 2020 USD ($)	Jul. 01, 2019 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of business							$ 104,141	$ 3,307
Gain on sale of business							88,930	0
Long-term receivable								$ 2,500
Pointillist, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncontrolling interest, ownership percentage by parent			69.00%
Pointillist, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business combination, consideration transferred			$ 150,000
Payments to acquire businesses, gross			144,500
Restricted cash			5,000
Pointillist, Inc. \| Working Capital Escrow
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restricted cash			$ 500
Disposal Group, Held-for-Sale, Not Discontinued Operations \| Pointillist, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of business						$ 88,900
Gain on sale of business net of tax						88,900
Pointillist, Inc. \| Disposal Group, Held-for-Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of disposal group						106,000
Future proceeds from the sale of business	$ 300
Pointillist, Inc. \| Disposal Group, Held-for-Sale, Not Discontinued Operations \| Pointillist, Inc. \| Working Capital Escrow
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restricted cash		$ 300
Pointillist, Inc. \| Disposal Group, Held-for-Sale, Not Discontinued Operations \| Pointillist, Inc. \| Indemnification Escrow
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restricted cash		3,500
Pointillist, Inc. \| Disposal Group, Held-for-Sale, Not Discontinued Operations \| Pointillist, Inc. \| Pointillist, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other assets	$ 3,600					$ 3,600	$ 3,600
Pointillist, Inc. \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of business		$ 102,200
Financial Services Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds from the sale of business										$ 44,000
Payment included in consideration, subject to working capital adjustment upon closing of the sale									$ 3,300	40,000
Additional payment to be received on one-year anniversary of the sale closing										$ 4,000
Rental Property Management Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of business				$ 3,000	$ 15,000
Total proceeds from the sale of business					$ 18,000
Number of installment payments \| installment					2
Future proceeds from the sale of business					$ 3,000

INVESTMENT IN EQUITY SECURITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2016
Marketable Securities [Line Items]
Proceeds received from sale of equity securities	$ 0	$ 46,622
Altisource Residential Corporation
Marketable Securities [Line Items]
Number of available for sale shares acquired (in shares)			4,100,000
Number of securities outstanding (in shares)		0
Unrealized gain (loss) on investment in equity securities	0	$ 4,000
Unrealized gain (loss) from sale	0	4,100
Investment income, dividend	$ 0	$ 500
Number of shares disposed (in shares)		3,500,000
Proceeds received from sale of equity securities		$ 46,600

ACCOUNTS RECEIVABLE, NET - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, net
Accounts receivable, gross	$ 23,305	$ 27,994
Less: Allowance for credit losses	(5,297)	(5,581)	$ (4,472)
Total	18,008	22,413
Charged to Expenses	1,354	2,229
Billed
Accounts receivable, net
Accounts receivable, gross	17,907	19,703
Unbilled
Accounts receivable, net
Accounts receivable, gross	$ 5,398	$ 8,291

ACCOUNTS RECEIVABLE, NET - Schedule of Allowance for Doubtful Accounts and Expected Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Allowance for expected credit losses:
Balance at Beginning of Period	$ 5,581	$ 4,472
Charged to Expenses	1,354	2,229
Deductions Note	1,638	1,120
Balance at End of Period	$ 5,297	$ 5,581

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Income taxes receivable	$ 8,403	$ 7,053
Prepaid expenses	2,865	4,812
Maintenance agreements, current portion	1,717	2,513
Other current assets	8,879	5,101
Total	$ 21,864	$ 19,479

PREMISES AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 4,592	$ 14,890

PREMISES AND EQUIPMENT, NET - Summary of Premise and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
PREMISES AND EQUIPMENT, NET
Premises and equipment, gross	$ 61,631	$ 75,328
Less: Accumulated depreciation and amortization	(54,758)	(63,434)
Total	6,873	11,894
Computer hardware and software
PREMISES AND EQUIPMENT, NET
Premises and equipment, gross	50,452	52,837
Leasehold improvements
PREMISES AND EQUIPMENT, NET
Premises and equipment, gross	5,927	14,792
Furniture and fixtures
PREMISES AND EQUIPMENT, NET
Premises and equipment, gross	4,441	5,882
Office equipment and other
PREMISES AND EQUIPMENT, NET
Premises and equipment, gross	$ 811	$ 1,817

PREMISES AND EQUIPMENT, NET - Summary by Country (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Premises and equipment	$ 6,873	$ 11,894
Luxembourg
Property, Plant and Equipment [Line Items]
Premises and equipment	3,883	5,451
United States
Property, Plant and Equipment [Line Items]
Premises and equipment	1,932	5,530
India
Property, Plant and Equipment [Line Items]
Premises and equipment	999	822
Uruguay
Property, Plant and Equipment [Line Items]
Premises and equipment	$ 59	$ 91

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET - Summary of Right-of-Use Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Right-of-use assets under operating leases	$ 19,595	$ 31,932
Less: Accumulated amortization	(12,001)	(13,719)
Total	$ 7,594	$ 18,213

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Amortization of right-of-use assets under operating leases	$ 7,935	$ 10,245

GOODWILL AND INTANGIBLE ASSETS, NET - Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 73,849
Balance at the end of the period	55,960
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Owners.com
Goodwill [Roll Forward]
Write-off	$ 17,889

GOODWILL AND INTANGIBLE ASSETS, NET - Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets, Net
Gross carrying amount	$ 259,016	$ 262,712
Accumulated amortization	(222,157)	(216,386)
Net book value	36,859	46,326
Customer related intangible assets
Intangible Assets, Net
Gross carrying amount	214,307	214,973
Accumulated amortization	(194,594)	(187,923)
Net book value	$ 19,713	27,050
Customer related intangible assets \| Weighted average
Intangible Assets, Net
Weighted average estimated useful life (in years)	9 years
Operating agreement
Intangible Assets, Net
Gross carrying amount	$ 35,000	35,000
Accumulated amortization	(20,854)	(19,126)
Net book value	$ 14,146	15,874
Operating agreement \| Weighted average
Intangible Assets, Net
Weighted average estimated useful life (in years)	20 years
Trademarks and trade names
Intangible Assets, Net
Gross carrying amount	$ 9,709	9,709
Accumulated amortization	(6,709)	(6,307)
Net book value	$ 3,000	3,402
Trademarks and trade names \| Weighted average
Intangible Assets, Net
Weighted average estimated useful life (in years)	16 years
Non-compete agreements
Intangible Assets, Net
Gross carrying amount	$ 0	1,230
Accumulated amortization	0	(1,230)
Net book value	0	0
Other intangible assets
Intangible Assets, Net
Gross carrying amount	0	1,800
Accumulated amortization	0	(1,800)
Net book value	$ 0	$ 0
Intellectual property \| Weighted average
Intangible Assets, Net
Weighted average estimated useful life (in years)	0 years

GOODWILL AND INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for definite lived intangible assets	$ 9,467	$ 14,720
Amortization expense, 2022	5,100
Amortization expense, 2023	5,100
Amortization expense, 2024	5,100
Amortization expense, 2025	5,100
Amortization expense, 2026	$ 4,900

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Restricted cash	$ 4,017	$ 3,833
Security deposits	1,043	2,416
Other	1,072	3,601
Total	$ 6,132	$ 9,850

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable	$ 15,978	$ 16,797
Accrued expenses - general	13,653	24,422
Accrued salaries and benefits	12,254	11,226
Income taxes payable	4,650	4,334
Total	$ 46,535	$ 56,779

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Operating lease liabilities	$ 2,893	$ 7,609
Other	977	1,696
Total	$ 3,870	$ 9,305
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total	Total

LONG-TERM DEBT - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Gross, long-term debt	$ 247,204
Less: Debt issuance costs, net	(1,600)	$ (2,400)
Total Long-term debt	(243,637)	(242,656)
Revolving Credit Facility
Debt Instrument [Line Items]
Gross, long-term debt	0	0
Less: Debt issuance costs, net	(400)
Less: Debt issuance costs, net	441	0
Total Long-term debt	(441)	0
Senior secured term loans
Debt Instrument [Line Items]
Gross, long-term debt	247,204	247,204
Less: Debt issuance costs, net	(1,632)	(2,389)
Less: Unamortized discount, net	(1,494)	(2,159)
Total Long-term debt	$ (244,078)	$ (242,656)

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

LONG-TERM DEBT - Schedule of Maturities of Long-Term Debt (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 0
2023	0
2024	247,204
Total	$ 247,204

LONG-TERM DEBT - Narrative (Details) $ in Thousands, shares in Millions		1 Months Ended	12 Months Ended
	Jun. 22, 2021 USD ($)	Apr. 30, 2018 USD ($) lender	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) shares
Debt Instrument [Line Items]
Proceeds received from sale of equity securities			$ 0	$ 46,622
Debt issuance costs, net			1,600	2,400
Accumulated amortization			2,900	2,200
Interest on long-term debt			(14,547)	$ (17,730)
Gross, long-term debt			$ 247,204
Altisource S.A.R.L.
Debt Instrument [Line Items]
Noncontrolling ownership percentage			24.00%
Altisource Residential Corporation
Debt Instrument [Line Items]
Number of shares disposed (in shares) \| shares				3.5
Proceeds received from sale of equity securities				$ 46,600
Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs, net			$ 400
Accumulated amortization			100
Debt instrument, interest rate, stated percentage	9.00%
Line of credit facility, commitment fee amount	$ 500
Unused commitment fee	0.50%
Payment due date	3 days
Line of credit facility, covenant threshold	$ 40,000
Gross, long-term debt			$ 0	0
Term B Loans
Debt Instrument [Line Items]
Leverage ratio to be maintained under the credit facility covenants			3.00
Covenant threshold, leverage ratio		3.50	3.50
Term B Loans \| Maximum
Debt Instrument [Line Items]
Amount of principal or interest if failed to pay considered as event of default		$ 40,000
Amount of debt which results in acceleration of debt if failed to pay considered as event of default		40,000
Amount of unbonded, undischarged or unstayed debt under entry by court of one or more judgments for certain period to determine as event of default		$ 40,000
Senior secured term loans
Debt Instrument [Line Items]
Debt issuance costs, net			$ 1,632	2,389
Interest on long-term debt			(13,900)	(17,700)
Gross, long-term debt			$ 247,204	$ 247,204
April 3, 2018 Credit Agreement
Debt Instrument [Line Items]
Number of incremental lenders (or more) \| lender		1
Increase in incremental indebtedness limit		$ 125,000
April 3, 2018 Credit Agreement \| Term B Loans
Debt Instrument [Line Items]
Debt instrument, face amount		$ 412,000
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]
Fixed interest rate base		1.00%
Interest rate margin		4.00%
April 3, 2018 Credit Agreement \| Term B Loans \| Base Rate
Debt Instrument [Line Items]
Fixed interest rate base		2.00%
Interest rate margin		3.00%
April 3, 2018 Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount		$ 15,000
Increase in incremental indebtedness limit		$ 80,000
Credit Facility Borrowings Through June 22, 2022 \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	20,000
Line of credit amortization period			3 years
Line of credit facility, outstanding balance threshold	15,000
Credit Facility Borrowings Through June 22, 2023 \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	15,000
Line of credit facility, outstanding balance threshold	10,000
Credit Facility Borrowings Through End Of Term \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 10,000

OTHER NON-CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Operating lease liabilities	$ 5,029	$ 12,281
Income tax liabilities	14,156	12,414
Deferred revenue	0	504
Other non-current liabilities	81	40
Total	$ 19,266	$ 25,239

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Cash and cash equivalents	$ 98,132	$ 58,263
Restricted cash	4,017	3,833
Short-term receivable	3,643	0
Long-term receivable	0	2,531
Senior secured term loan
Liabilities:
Senior secured term loan	247,204	247,204
Level 1 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	98,132	58,263
Restricted cash	4,017	3,833
Short-term receivable	0	0
Long-term receivable	0	0
Level 1 \| Fair Value, Measurements, Recurring \| Senior secured term loan
Liabilities:
Senior secured term loan	0	0
Level 2 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Short-term receivable	0	0
Long-term receivable	0	0
Level 2 \| Fair Value, Measurements, Recurring \| Senior secured term loan
Liabilities:
Senior secured term loan	224,956	201,472
Level 3 \| Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Short-term receivable	3,643	0
Long-term receivable	0	2,531
Level 3 \| Fair Value, Measurements, Recurring \| Senior secured term loan
Liabilities:
Senior secured term loan	$ 0	$ 0

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands				1 Months Ended	12 Months Ended
	Dec. 01, 2022	Dec. 31, 2021	Jan. 11, 2021	Aug. 31, 2018	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from the sale of businesses					$ 104,141	$ 3,307
Ocwen \| Revenue \| Customer Concentration Risk
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Concentration risk					31.00%	54.00%
Discontinued Operations, Disposed of by Sale \| Rental Property Management Business
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future proceeds from the sale of business				$ 3,000
Proceeds from the sale of businesses			$ 3,000	$ 15,000
Disposal Group, Held-for-Sale, Not Discontinued Operations \| Pointillist, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future proceeds from the sale of business		$ 300
Disposal Group, Held-for-Sale, Not Discontinued Operations \| Pointillist, Inc. \| Forecast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from the sale of businesses	$ 3,500

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	May 15, 2018 $ / shares shares	Apr. 30, 2018	Dec. 31, 2021 USD ($) vote component $ / shares shares	Dec. 31, 2020 USD ($) shares
Common Stock [Abstract]
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)			15,911,000	15,664,000
Voting rights per share \| vote			1,000
Equity Incentive Plan [Abstract]
Maximum number of Altisource share-based awards that can be granted under the Plan (in shares)			6,700,000
Share-based awards available for future grants under the Plan (in shares)			1,200,000
Share Repurchase Program [Abstract]
Authorized amount (approximately) \| $			$ 80.0
Capacity available to repurchase common stock under senior secured term loan \| $			437.0
Share-Based Compensation [Abstract]
Share-based compensation expense \| $			2.8	$ 7.8
Estimated unrecognized compensation costs \| $			$ 2.4
Weighted average remaining requisite service period for stock options over which unrecognized compensation costs would be recognized			1 year 3 months 14 days
Options outstanding (in shares)			687,339	899,914
Term B Loans
Share Repurchase Program [Abstract]
Covenant threshold, leverage ratio		3.50	3.50
Stock Repurchase Program, Current
Share Repurchase Program [Abstract]
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 dollars per share) \| $ / shares	$ 1.00
Maximum purchase price authorized (in dollars per share) \| $ / shares	$ 500.00
Stock repurchase program, period in force	5 years
Remaining number of shares available for repurchase under the plan (in shares)			2,400,000
Stock Repurchase Programs
Share Repurchase Program [Abstract]
Number of shares of common stock purchased (in shares)			0
Stock Options
Share-Based Compensation [Abstract]
Stock options granted, approximate (in shares)			0	0
Stock Options, Service-Based
Share-Based Compensation [Abstract]
Options outstanding (in shares)			181,000
Stock Options, Service-Based \| Minimum
Share-Based Compensation [Abstract]
Vesting period			3 years
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			3 years
Stock Options, Service-Based \| Maximum
Share-Based Compensation [Abstract]
Vesting period			4 years
Expiration term			10 years
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			4 years
Stock Options, Market-Based
Share-Based Compensation [Abstract]
Options outstanding (in shares)			140,000
Number of components of an award \| component			2
Allowable performance period before expiration date			3 years
Stock Options, Market-Based \| Minimum
Share-Based Compensation [Abstract]
Vesting period			3 years
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			3 years
Stock Options, Market-Based \| Maximum
Share-Based Compensation [Abstract]
Vesting period			4 years
Expiration term			10 years
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			4 years
Ordinary performance
Share-Based Compensation [Abstract]
Percentage of awards			67.00%
Vesting threshold			2
Ordinary performance \| Minimum
Share-Based Compensation [Abstract]
Percentage of compounded annual gain of stock price over exercise price required for the award to vest			20.00%
Extraordinary performance
Share-Based Compensation [Abstract]
Percentage of awards			33.00%
Extraordinary performance \| Minimum
Share-Based Compensation [Abstract]
Percentage of compounded annual gain of stock price over exercise price required for the award to vest			25.00%
Stock Options, Performance-Based
Share-Based Compensation [Abstract]
Options outstanding (in shares)			366,000
Stock Options, Performance-Based \| Share-based Payment Arrangement, Tranche One
Share-Based Compensation [Abstract]
Award vesting rights, percentage			25.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Award vesting rights, percentage			25.00%
Stock Options, Performance-Based \| Share-based Payment Arrangement, Tranche Two
Share-Based Compensation [Abstract]
Award vesting rights, percentage			25.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Award vesting rights, percentage			25.00%
Stock Options, Performance-Based \| Share-based Payment Arrangement, Tranche Three
Share-Based Compensation [Abstract]
Award vesting rights, percentage			25.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Award vesting rights, percentage			25.00%
Stock Options, Performance-Based \| Share-based Payment Arrangement, Tranche Four
Share-Based Compensation [Abstract]
Award vesting rights, percentage			25.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Award vesting rights, percentage			25.00%
Stock Options, Performance-Based \| Minimum
Share-Based Compensation [Abstract]
Allowable performance period before expiration date			10 years
Attainment above threshold performance levels, vesting percentage			50.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Attainment above threshold performance levels, vesting percentage			50.00%
Stock Options, Performance-Based \| Maximum
Share-Based Compensation [Abstract]
Attainment above threshold performance levels, vesting percentage			200.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Attainment above threshold performance levels, vesting percentage			200.00%
Restricted Shares and Restricted Stock Units (RSUs), Service-Based
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Other than options, outstanding (in shares)			249,000
Restricted Shares and Restricted Stock Units (RSUs), Service-Based \| Minimum
Share-Based Compensation [Abstract]
Vesting period			2 years
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			2 years
Restricted Shares and Restricted Stock Units (RSUs), Service-Based \| Maximum
Share-Based Compensation [Abstract]
Vesting period			4 years
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			4 years
Restricted Shares and Restricted Stock Units (RSUs), Performance-Based
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Other than options, outstanding (in shares)			187,000
Restricted Shares and Restricted Stock Units (RSUs), Performance-Based \| Share-based Payment Arrangement, Tranche One
Share-Based Compensation [Abstract]
Award vesting rights, percentage			33.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Award vesting rights, percentage			33.00%
Restricted Shares and Restricted Stock Units (RSUs), Performance-Based \| Share-based Payment Arrangement, Tranche Two
Share-Based Compensation [Abstract]
Award vesting rights, percentage			33.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Award vesting rights, percentage			33.00%
Restricted Shares and Restricted Stock Units (RSUs), Performance-Based \| Share-based Payment Arrangement, Tranche Three
Share-Based Compensation [Abstract]
Award vesting rights, percentage			33.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Award vesting rights, percentage			33.00%
Restricted Shares and Restricted Stock Units (RSUs), Performance-Based \| Maximum
Share-Based Compensation [Abstract]
Attainment above threshold performance levels, vesting percentage			150.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Attainment above threshold performance levels, vesting percentage			150.00%
Restricted Shares and Restricted Stock Units (RSUs), Market-Based
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Other than options, outstanding (in shares)			112,000
Restricted Shares and Restricted Stock Units (RSUs), Market-Based \| Minimum
Share-Based Compensation [Abstract]
Vesting period			30 days
Award vesting rights, percentage			50.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			30 days
Award vesting rights, percentage			50.00%
Restricted Shares and Restricted Stock Units (RSUs), Market-Based \| Maximum
Share-Based Compensation [Abstract]
Vesting period			1 year
Award vesting rights, percentage			50.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Vesting period			1 year
Award vesting rights, percentage			50.00%
Restricted Shares and Restricted Stock Units (RSUs), Performance-Based and Market-Based
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Other than options, outstanding (in shares)			77,000
Restricted Shares and Restricted Stock Units (RSUs), Performance-Based and Market-Based \| Maximum
Share-Based Compensation [Abstract]
Attainment above threshold performance levels, vesting percentage			300.00%
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Attainment above threshold performance levels, vesting percentage			300.00%
Restricted Share Units
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Other than options, granted (in shares)			368,000
Other than options, granted (in dollars per share) \| $ / shares			$ 9.57
Restricted Stock Units (RSUs), Performance-Based
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Other than options, granted (in shares)			29,000
Restricted Stock Units (RSUs), Market-Based
Schedule of Share-based compensation, Restricted Stock and Restricted Stock units activity
Other than options, granted (in shares)			89,000

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Weighted Average Fair Value of Stock Options Granted and Total Intrinsic Value of Stock Options (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Weighted average fair value of stock options granted and total intrinsic value of stock options exercised
Grant date fair value of stock options that vested	$ 1,203	$ 2,730

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Stock option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of options
Outstanding at the beginning of the period (in shares)	899,914
Forfeited (in shares)	(212,575)
Outstanding at the end of the period (in shares)	687,339	899,914
Exercisable at the end of the period (in shares)	525,707
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 32.47
Forfeited (in dollars per share)	32.18
Outstanding at the end of the period (in dollars per share)	27.99	$ 32.47
Exercisable at the end of the period (in dollars per share)	$ 28.48
Weighted average contractual term (in years)
Weighted average contractual term	4 years 6 months 25 days	5 years 7 months 17 days
Exercisable at the end of the period	4 years 7 months 17 days
Aggregate intrinsic value (in thousands)
Aggregate intrinsic value (in dollars)	$ 0	$ 0
Exercisable at the end of the period (in dollars)	$ 0

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Stock option information (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Options outstanding
Number (in shares) \| shares	687,339
Options exercisable
Number (in shares) \| shares	525,707
$10.01 — $20.00
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	$ 10.01
Exercise price, high end of range (in dollars per share)	$ 20.00
Options outstanding
Number (in shares) \| shares	127,400
Weighted average remaining contractual life (in years)	3 years 3 months 14 days
Weighted average exercise price (in dollars per share)	$ 18.79
Options exercisable
Number (in shares) \| shares	123,238
Weighted average remaining contractual life (in years)	3 years 3 months 14 days
Weighted average exercise price (in dollars per share)	$ 18.79
$20.01 — $30.00
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	20.01
Exercise price, high end of range (in dollars per share)	$ 30.00
Options outstanding
Number (in shares) \| shares	415,710
Weighted average remaining contractual life (in years)	5 years 1 month 17 days
Weighted average exercise price (in dollars per share)	$ 24.87
Options exercisable
Number (in shares) \| shares	326,338
Weighted average remaining contractual life (in years)	4 years 11 months 12 days
Weighted average exercise price (in dollars per share)	$ 24.84
$30.01 — $40.00
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	30.01
Exercise price, high end of range (in dollars per share)	$ 40.00
Options outstanding
Number (in shares) \| shares	30,729
Weighted average remaining contractual life (in years)	4 years 7 months 9 days
Weighted average exercise price (in dollars per share)	$ 33.10
Options exercisable
Number (in shares) \| shares	18,506
Weighted average remaining contractual life (in years)	4 years 6 months 25 days
Weighted average exercise price (in dollars per share)	$ 33.40
$60.01 — $70.00
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	60.01
Exercise price, high end of range (in dollars per share)	$ 70.00
Options outstanding
Number (in shares) \| shares	58,500
Weighted average remaining contractual life (in years)	2 months 8 days
Weighted average exercise price (in dollars per share)	$ 60.76
Options exercisable
Number (in shares) \| shares	43,875
Weighted average remaining contractual life (in years)	2 months 8 days
Weighted average exercise price (in dollars per share)	$ 60.76
$80.01 — $90.00
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	80.01
Exercise price, high end of range (in dollars per share)	$ 90.00
Options outstanding
Number (in shares) \| shares	25,000
Weighted average remaining contractual life (in years)	2 years 7 months 6 days
Weighted average exercise price (in dollars per share)	$ 86.69
Options exercisable
Number (in shares) \| shares	6,250
Weighted average remaining contractual life (in years)	2 years 7 months 6 days
Weighted average exercise price (in dollars per share)	$ 86.69
$90.01 — $100.00
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	90.01
Exercise price, high end of range (in dollars per share)	$ 100.00
Options outstanding
Number (in shares) \| shares	30,000
Weighted average remaining contractual life (in years)	2 years 9 months
Weighted average exercise price (in dollars per share)	$ 96.87
Options exercisable
Number (in shares) \| shares	7,500
Weighted average remaining contractual life (in years)	2 years 9 months
Weighted average exercise price (in dollars per share)	$ 96.87

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Restricted stock awards (Details) - Restricted Shares and Restricted Share Units	12 Months Ended
	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	878,521
Granted (in shares)	368,412
Issued (in shares)	(246,382)
Forfeited/canceled (in shares)	(374,913)
Outstanding, end of period (in shares)	625,638

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Assumptions Used to Determine the Fair Values for Performance-Based Awards (Details) - Restricted Shares and Restricted Share Units - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Monte Carlo
Equity And Share-Based Compensation
Risk-free interest rate (%)	0.16%	2.47%
Expected stock price volatility (%)	39.54%	17.72%
Expected dividend yield	0.00%	0.00%
Expected life (in years)	3 years	3 years
Fair value (in usd per share)	$ 10.16	$ 0
Binomial
Equity And Share-Based Compensation
Risk-free interest rate (%), minimum	0.00%
Expected stock price volatility (%)	0.00%	80.36%
Expected dividend yield	0.00%	0.00%
Expected life (in years)		2 years
Fair value (in usd per share)	$ 0	$ 12.58
Binomial \| Maximum
Equity And Share-Based Compensation
Risk-free interest rate (%)		0.27%
Binomial \| Minimum
Equity And Share-Based Compensation
Risk-free interest rate (%)		0.09%

REVENUE - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Revenue recognized that was included in the contract liability at the beginning of the period	$ 5.5	$ 4.8

REVENUE - Schedule of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 178,453	$ 365,547
Service revenue
Disaggregation of Revenue [Line Items]
Revenue	170,613	347,313
Reimbursable expenses
Disaggregation of Revenue [Line Items]
Revenue	6,555	16,285
Non-controlling interests
Disaggregation of Revenue [Line Items]
Revenue	$ 1,285	$ 1,949

- 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.

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REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 178,453	$ 365,547
Revenue recognized when services are performed or assets are sold
Disaggregation of Revenue [Line Items]
Revenue	157,855	332,084
Revenue related to technology platforms and professional services
Disaggregation of Revenue [Line Items]
Revenue	14,043	17,178
Reimbursable expenses revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 6,555	$ 16,285

- Definition

+ References

+ Details

COST OF REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
COST OF REVENUE (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Cost of Revenue [Abstract]
Compensation and benefits	$ 69,990	$ 94,365
Outside fees and services	66,386	146,322
Technology and telecommunications	25,273	35,912
Reimbursable expenses	6,555	16,285
Depreciation and amortization	3,162	12,310
Total	$ 171,366	$ 305,194

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Selling, General and Administrative Expense [Abstract]
Compensation and benefits	$ 28,367	$ 35,521
Professional services	10,163	11,444
Amortization of intangible assets	9,467	14,720
Occupancy related costs	9,332	19,363
Marketing costs	2,157	3,325
Depreciation and amortization	1,430	2,580
Other	6,133	5,783
Total	$ 67,049	$ 92,736

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Interest income	$ 4	$ 114
Other, net	860	261
Total	$ 864	$ 375

INCOME TAXES - Components of Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income before income taxes and non-controlling interests [Line Items]
Domestic - Luxembourg	$ 25,490	$ (50,822)
Income (loss) before income taxes and non-controlling interests	15,285	(57,706)
Foreign - U.S.
Income before income taxes and non-controlling interests [Line Items]
Foreign - U.S. and Non-U.S.	(9,536)	(13,243)
Foreign - non-U.S.
Income before income taxes and non-controlling interests [Line Items]
Foreign - U.S. and Non-U.S.	$ (669)	$ 6,359

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

INCOME TAXES - Income Tax (Provision) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current:
Domestic - Luxembourg	$ (3,937)	$ (3,576)
Deferred:
Domestic - Luxembourg	705	(5,033)
Income tax provision	(3,232)	(8,609)
Domestic - Luxembourg
Current:
Domestic - Luxembourg	0	(2,158)
Deferred:
Domestic - Luxembourg	(140)	224
Foreign - U.S. federal
Current:
Foreign	(432)	4,992
Deferred:
Foreign	519	(2,808)
Foreign - U.S. state
Current:
Foreign	(308)	(322)
Deferred:
Foreign	836	(465)
Foreign - non-U.S.
Current:
Foreign	(3,197)	(6,088)
Deferred:
Foreign	$ (510)	$ (1,984)

INCOME TAXES - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Tax effects of temporary differences
Decrease in foreign taxes due to tax holidays	$ 100	$ 100
Effect on diluted per share due to decrease in foreign tax holiday (in dollars per share)	$ 0.01	$ 0.01
Valuation allowance	$ 389,147	$ 372,227
Undistributed earnings	3,700
Deferred tax liability that would be recognized if earnings were distributed	0
Net operating loss carryforwards	368,824	353,358
Operating loss carryforwards	1,476,800	1,415,900
Operating loss carryback, CARES Act	14,800
Unrecognized tax benefits that would affect the effective tax rate	14,900	13,200
Unrecognized tax benefits, income tax penalties and interest accrued	5,800	4,600
India
Tax effects of temporary differences
Income tax expense	15,000
Domestic - Luxembourg
Tax effects of temporary differences
Operating loss carryforwards, valuation allowance	367,800	349,800
Foreign - U.S. state
Tax effects of temporary differences
Income recognized on deferred foreign income	(836)	465
Income tax expense	308	322
Operating loss carryforwards, valuation allowance	0	800
Deferred tax asset relating to tax credits	800	900
Foreign - U.S. federal
Tax effects of temporary differences
Income recognized on deferred foreign income	(519)	2,808
Income tax expense	432	(4,992)
Operating loss carryforwards, valuation allowance	0	2,400
Foreign - non-U.S.
Tax effects of temporary differences
Income recognized on deferred foreign income	510	1,984
Income tax expense	3,197	$ 6,088
India
Tax effects of temporary differences
Income recognized on deferred foreign income	$ 68,000

INCOME TAXES - Summary of Tax Effects of Temporary Differences (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-current deferred tax assets:
Net operating loss carryforwards	$ 368,824	$ 353,358
U.S. federal and state tax credits	194	242
Other non-U.S. deferred tax assets	13,326	11,327
Share-based compensation	1,220	1,658
Accrued expenses	962	1,205
Unrealized losses	10,397	10,351
Non-current deferred tax liabilities:
Intangible assets	(8,290)	(8,133)
Depreciation	61	(441)
Other non-U.S. deferred tax liability	(523)	(7)
Other	334	(736)
Deferred tax assets net of deferred tax liabilities	386,505	368,824
Valuation allowance	(389,147)	(372,227)
Non-current deferred tax liabilities, net	$ (2,642)	$ (3,403)

INCOME TAXES - Reconciliation of Luxembourg Statutory Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Income Tax Provision to the Luxembourg income tax rate
Statutory tax rate	24.94%	24.94%
Change in valuation allowance	130.03%	(29.79%)
State tax expense	(3.87%)	(1.25%)
Tax credits	0.36%	0.10%
Uncertain tax positions	11.82%	(2.94%)
Income tax rate change	0.00%	(2.40%)
Tax rate differences on foreign earnings	6.46%	(6.62%)
Tax Exempt Income	(145.91%)	0.00%
Other	(2.70%)	3.04%
Effective tax rate	21.14%	(14.92%)

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Amount of unrecognized tax benefits as of the beginning of the year	$ 8,541	$ 9,767
Decreases as a result of tax positions taken in a prior period	(1,648)	(2,591)
Increases as a result of tax positions taken in a prior period	2,130	767
Increases as a result of tax positions taken in the current period	0	598
Amount of unrecognized tax benefits as of the end of the year	$ 9,023	$ 8,541

EARNINGS PER SHARE - Summary of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income (loss) attributable to Altisource	$ 11,812	$ (67,156)
Weighted average common shares outstanding, basic (in shares)	15,839	15,598
Dilutive effect of stock options, restricted shares and restricted share units (in shares)	224	0
Weighted average common shares outstanding, diluted (in shares)	16,063	15,598
Earnings (loss) per share:
Basic (in USD per share)	$ 0.75	$ (4.31)
Diluted (in USD per share)	$ 0.74	$ (4.31)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Anti-dilutive securities
Excluded from the computation of diluted EPS (in shares)	1.2	1.6
Options, Restricted Stock and Restricted Stock Units Whose Impacts are Anti-Dilutive Because of Net Loss
Anti-dilutive securities
Excluded from the computation of diluted EPS (in shares)		0.2
Options Whose Exercise Price is Greater than Average Market Price
Anti-dilutive securities
Excluded from the computation of diluted EPS (in shares)	0.3	0.5
Options, Restricted Shares and Restricted Share Units Issuable upon Achievement of Certain Market and Performance Criteria That Has Not Been Met
Anti-dilutive securities
Excluded from the computation of diluted EPS (in shares)	0.9	0.9

RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	12 Months Ended
RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Restructuring Charges [Abstract]
Restructuring charges	$ 0	$ 11,972

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($) agreement lease	Sep. 30, 2021	Dec. 31, 2021 USD ($) agreement lease	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jan. 01, 2019
Concentration Risk
Revenue			$ 178,453	$ 365,547
Lease obligation liabilities	$ 7,922		$ 7,922
Operating lease, liability, noncurrent, statement of financial position [Extensible List]
Sublease income			$ 1,000	$ 1,400
Amounts held in escrow and trust accounts	$ 27,500		27,500	20,000
Sales Tax Exposure
Concentration Risk
Loss (gain) related to sales tax exposure			$ 0	$ (2,700)
Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer			31.00%	54.00%
Revenue			$ 55,600	$ 197,800
Highly Correlated - Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer			5.00%
Revenue			$ 9,500	23,800
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	21.00%
Revenue			3,100	8,600	$ 12,500
Ocwen, Investor \| Mortgage Servicing Rights
Concentration Risk
Revenue			500	70,100
Ocwen, Investor \| Default Valuations and Title Services
Concentration Risk
Revenue			$ 2,900	$ 18,200
NRZ \| Ocwen
Concentration Risk
Subservice transferred subject MSRs, initial term		5 years
NRZ \| Ocwen \| Customer Concentration Risk \| Revenue
Concentration Risk
Percentage of revenue from largest customer			21.00%
Standby Letters of Credit
Concentration Risk
Standby letters of credit, number \| agreement	2		2
Standby letters of credit, amount	$ 600		$ 600
Number of office leases \| lease	2		2
Minimum
Concentration Risk
Lease term	1 year		1 year
Maximum
Concentration Risk
Lease term	6 years		6 years

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Term and Assumption (Details)	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term (in years)	3 years 3 months 18 days	3 years 2 months 4 days
Weighted average discount rate	5.84%	7.01%

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Lease Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Cash used in operating activities for amounts included in the measurement of lease liabilities	$ 9,072	$ 13,113
Short-term (twelve months or less) lease costs	(1,017)	3,797
Selling, general and administrative expense
Lessee, Lease, Description [Line Items]
Operating lease costs:	6,026	9,712
Cost of revenue
Lessee, Lease, Description [Line Items]
Operating lease costs:	$ 2,294	$ 1,919

COMMITMENTS, CONTINGENCIES AND REGULATORY MATTERS - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 3,090
2023	2,145
2024	1,576
2025	1,109
2026	563
Total lease payments	8,483
Less: interest	(561)
Present value of lease liabilities	$ 7,922

SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Allowance for expected credit losses:

Deductions from asset accounts:

Balance at Beginning of Period

$ 5,581

$ 4,472

Additions, Charged to Expenses

1,354

2,229

Deductions Note

^[1]

1,638

1,120

Balance at End of Period

5,297

5,581

Valuation allowance for deferred tax assets:

Deductions from asset accounts:

Balance at Beginning of Period

372,227

355,559

Additions, Charged to Expenses

16,921

16,668

Deductions Note

Balance at End of Period

$ 389,148

$ 372,227

[1]	For allowance for credit losses, amounts written off as uncollectible or transferred to other accounts or utilized.

SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Market-based options vesting prices (Details)	Dec. 31, 2021 $ / shares shares
Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	43,404
Market-based options, weighted average share price (in dollars per share) \| $ / shares	$ 69.52
Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	46,740
Market-based options, weighted average share price (in dollars per share) \| $ / shares	$ 55.89
$50.01 — $60.00
Market prices for market performance options to vest
Market-based options, vesting price, low end of range (in dollars per share) \| $ / shares	50.01
Market-based options, vesting price, high end of range (in dollars per share) \| $ / shares	$ 60.00
$50.01 — $60.00 \| Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	7,756
$50.01 — $60.00 \| Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	4,162
$60.01 — $70.00
Market prices for market performance options to vest
Market-based options, vesting price, low end of range (in dollars per share) \| $ / shares	$ 60.01
Market-based options, vesting price, high end of range (in dollars per share) \| $ / shares	$ 70.00
$60.01 — $70.00 \| Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	8,148
$60.01 — $70.00 \| Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	6,250
$80.01 — $90.00
Market prices for market performance options to vest
Market-based options, vesting price, low end of range (in dollars per share) \| $ / shares	$ 80.01
Market-based options, vesting price, high end of range (in dollars per share) \| $ / shares	$ 90.00
$80.01 — $90.00 \| Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	0
$80.01 — $90.00 \| Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	3,878
$90.01 — $100.00
Market prices for market performance options to vest
Market-based options, vesting price, low end of range (in dollars per share) \| $ / shares	$ 90.01
Market-based options, vesting price, high end of range (in dollars per share) \| $ / shares	$ 100.00
$90.01 — $100.00 \| Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	0
$90.01 — $100.00 \| Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	4,075
$170.01 — $180.00
Market prices for market performance options to vest
Market-based options, vesting price, low end of range (in dollars per share) \| $ / shares	$ 170.01
Market-based options, vesting price, high end of range (in dollars per share) \| $ / shares	$ 180.00
$170.01 — $180.00 \| Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	12,500
$170.01 — $180.00 \| Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	0
$180.01 — $190.00
Market prices for market performance options to vest
Market-based options, vesting price, low end of range (in dollars per share) \| $ / shares	$ 180.01
Market-based options, vesting price, high end of range (in dollars per share) \| $ / shares	$ 190.00
$180.01 — $190.00 \| Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	0
$180.01 — $190.00 \| Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	14,625
Over $190.00
Market prices for market performance options to vest
Market-based options, vesting price, high end of range (in dollars per share) \| $ / shares	$ 190.00
Over $190.00 \| Ordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	15,000
Over $190.00 \| Extraordinary performance
Market prices for market performance options to vest
Market-based options, options expected to vest (in shares)	13,750