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Document and Entity Information - USD ($)	9 Months Ended
Document and Entity Information - USD ($)	Sep. 30, 2011	Oct. 15, 2011	Jun. 30, 2010
Document and Entity Information [Abstract]
Entity Registrant Name	Altisource Portfolio Solutions S.A.
Entity Central Index Key	0001462418
Document Type	10-Q
Document Period End Date	Sep. 30, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 462,059,307
Entity Common Stock, Shares Outstanding		23,850,249

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2011	Dec. 31, 2010
Current Assets:
Cash and Cash Equivalents	$ 21,250	$ 22,134
Accounts Receivable, net	50,239	53,495
Prepaid Expenses and Other Current Assets	6,793	13,076
Deferred Tax Asset, net	2,328	551
Total Current Assets	80,610	89,256
Restricted Cash	1,222	1,045
Premises and Equipment, net	22,626	17,493
Deferred Tax Asset, net	0	1,206
Intangible Assets, net	67,066	72,428
Goodwill	14,915	11,836
Investment in Equity Affiliate	14,645	0
Other Non-current Assets	8,645	4,536
Total Assets	209,729	197,800
Current Liabilities:
Accounts Payable and Accrued Expenses	33,697	35,384
Capital Lease Obligations - Current	643	680
Other Current Liabilities	8,151	5,616
Total Current Liabilities	42,491	41,680
Capital Lease Obligations - Non-current	345	852
Deferred Tax Liability, net	539	0
Other Non-current Liabilities	2,679	3,370
Commitment and Contingencies
Equity:
Common Stock ($1.00 par value; 100,000 shares authorized; 25,413 shares issued and 23,979 outstanding in 2011; 25,413 shares issued and 24,881 outstanding in 2010)	25,413	25,413
Retained Earnings	100,984	58,546
Additional Paid-in-Capital	81,406	79,297
Treasury Stock, at cost ($1.00 par value; 1,434 and 532 shares in 2011 2010, respectively)	(46,171)	(14,418)
Altisource Equity	161,632	148,838
Non-controlling Interests	2,043	3,060
Total Equity	163,675	151,898
Total Liabilities and Equity	$ 209,729	$ 197,800

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2011	Dec. 31, 2010
Equity:
Common Stock, par value	$ 1.00	$ 1.00
Common Stock, shares authorized	100,000	100,000
Common Stock, shares issued	25,413	25,413
Common Stock, shares outstanding	23,979	24,881
Treasury Stock, par value	$ 1.00	$ 1.00
Treasury Stock, shares	1,434	532

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Condensed Consolidated Statements of Operations [Abstract]
Revenue	$ 109,793	$ 77,580	$ 291,731	$ 209,901
Cost of Revenue	73,339	48,913	191,385	132,642
Gross Profit	36,454	28,667	100,346	77,259
Selling, General and Administrative Expenses	15,329	14,730	45,487	39,275
Income from Operations	21,125	13,937	54,859	37,984
Other Income (Expense), net	(320)	698	294	666
Income Before Income Taxes and Non-controlling Interests	20,805	14,635	55,153	38,650
Income Tax Provision	(1,843)	(2,751)	(5,377)	(2,029)
Net Income	18,962	11,884	49,776	36,621
Net Income Attributable to Non-controlling Interests	(1,791)	(2,052)	(4,395)	(4,136)
Net Income Attributable to Altisource	$ 17,171	$ 9,832	$ 45,381	$ 32,485
Earnings Per Share:
Basic	$ 0.71	$ 0.39	$ 1.84	$ 1.30
Diluted	$ 0.67	$ 0.37	$ 1.76	$ 1.24
Weighted Average Shares Outstanding:
Basic	24,341	25,318	24,602	25,080
Diluted	25,489	26,544	25,720	26,168
Transactions with Related Parties Included Above:
Revenue	$ 63,827	$ 39,459	$ 166,311	$ 104,494
Selling, General and Administrative Expenses	$ 506	$ 223	$ 1,352	$ 811

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Earnings	Additional Paid-in Capital	Treasury Stock, at Cost	Non- controlling Interests	Comprehensive Income
Balance at Dec. 31, 2009	$ 86,348	$ 24,145	$ 11,665	$ 50,538	$ 0	$ 0	$ 0
Balance, shares at Dec. 31, 2009		24,145
Net Income	36,621		32,485			4,136	36,621
Acquisition of MPA	27,168	$ 959		22,941		3,268
Acquisition of MPA, shares		959
Contributions from Non-controlling Interest Holders	28					28
Distributions to Non-controlling Interest Holders	(5,207)					(5,207)
Share-based Compensation Expense	2,134			2,134
Exercise of Stock Options	3,006	$ 298		2,708
Exercise of Stock Options, shares		298
Delivery of Vested Restricted Stock	11	$ 11
Delivery of Vested Restricted Stock, shares		11
Repurchase of Shares	(2,311)				(2,311)
Balance at Sep. 30, 2010	147,798	$ 25,413	44,150	78,321	(2,311)	2,225	36,621
Balance, shares at Sep. 30, 2010		25,413
Balance at Dec. 31, 2010	151,898	$ 25,413	58,546	79,297	(14,418)	3,060	0
Balance, shares at Dec. 31, 2010		25,413
Net Income	49,776		45,381			4,395	49,776
Contributions from Non-controlling Interest Holders	31					31
Distributions to Non-controlling Interest Holders	(5,443)					(5,443)
Share-based Compensation Expense	2,109			2,109
Exercise of Stock Options	775		(2,943)		3,718
Repurchase of Shares	(35,471)				(35,471)
Balance at Sep. 30, 2011	$ 163,675	$ 25,413	$ 100,984	$ 81,406	$ (46,171)	$ 2,043	$ 49,776
Balance, shares at Sep. 30, 2011		25,413

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Cash Flows from Operating Activities:
Net Income	$ 49,776	$ 36,621
Reconciling Items:
Depreciation and Amortization	6,174	5,015
Amortization of Intangible Assets	3,952	4,089
Share-based Compensation Expense	2,109	2,134
Equity in Losses of Affiliate	355
Bad Debt Expense	999	988
Deferred Income Taxes	(32)	(1,040)
Changes in Operating Assets and Liabilities, net of Acquisitions:
Accounts Receivable	2,546	(14,019)
Prepaid Expenses and Other Current Assets	5,066	(1,464)
Other Assets	(4,109)	(2,594)
Accounts Payable and Accrued Expenses	71	1,422
Other Current and Non-current Liabilities	1,844	2,109
Net Cash Flows from Operating Activities	68,751	33,261
Cash Flows from Investing Activities:
Additions to Premises and Equipment	(11,291)	(8,135)
Acquisition of Business, net of Cash Acquired	(2,515)	(26,830)
Investment in Equity Affiliate	(15,000)
Change in Restricted Cash	(177)	(779)
Net Cash Flows from Investing Activities	(28,983)	(35,744)
Cash Flows from Financing Activities:
Principal Payments on Capital Lease Obligations	(544)	(463)
Proceeds from Stock Option Exercises	775	3,017
Purchase of Treasury Stock	(35,471)	(2,311)
Contributions from Non-controlling Interests	31	28
Distributions to Non-controlling Interests	(5,443)	(5,207)
Net Cash Flows from Financing Activities	(40,652)	(4,936)
Net Increase (Decrease) in Cash and Cash Equivalents	(884)	(7,419)
Cash and Cash Equivalents at the Beginning of the Year	22,134	30,456
Cash and Cash Equivalents at the End of the Period	21,250	23,037
Supplemental Cash Flow Information
Interest Paid	65
Income Taxes (Received) Paid, net	(2,684)	1,724
Non-Cash Investing and Financing Activities
Shares issued in Connection with Acquisition		23,900
Reduction in Income Tax Payable from Tax Amortizable Goodwill

Organization and Basis of Presentation

9 Months Ended

Sep. 30, 2011

Organization and Basis of Presentation [Abstract]

ORGANIZATION AND BASIS OF PRESENTATION

NOTE 1 — ORGANIZATION AND BASIS OF PRESENTATION

Altisource Portfolio Solutions S.A., together with its subsidiaries, (which may be referred to as Altisource, the Company, we, us or our) is a provider of services focused on high-value, technology-enabled, knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management.

We are publicly traded on the NASDAQ Global Select market under the symbol ASPS. We were incorporated under the laws of Luxembourg on November 4, 1999 as Ocwen Luxembourg S.à r.l., renamed Altisource Portfolio Solutions S.à r.l. on May 12, 2009 and converted into Altisource Portfolio Solutions S.A. on June 5, 2009. We became a publicly traded company as of August 10, 2009 (the “Separation”). Prior to the Separation, our businesses were wholly-owned by Ocwen Financial Corporation (“Ocwen”).

We conduct our operations through three reporting segments: Mortgage Services, Financial Services and Technology Services. In addition, we report our corporate related expenditures as a separate segment (see Note 17 for a description of our business segments).

Basis of Presentation

Our condensed consolidated financial statements include the assets and liabilities, revenues and expenses directly attributable to our operations. All significant inter-company and inter-segment transactions and accounts have been eliminated upon consolidation. Certain amounts disclosed in prior period statements have been reclassified to conform to the current period presentation.

In February 2010, we acquired the Mortgage Partnership of America, L.L.C. (“MPA”), the manager of a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services that does business as Lenders One Mortgage Cooperative (“Lenders One”). The management agreement between MPA and Lenders One, pursuant to which MPA is the management company of Lenders One, represents a variable interest in a variable interest entity. MPA determined it is the primary beneficiary of Lenders One as it has the power to direct the activities that most significantly impact Lenders One’s economic performance and the obligation to absorb losses or the right to receive benefits from Lenders One. As a result, Lenders One is presented in the accompanying condensed consolidated financial statements on a consolidated basis with the interests of the members reflected as Non-controlling Interest on the Condensed Consolidated Balance Sheets. At September 30, 2011, Lenders One had total assets of $3.6 million and liabilities of less than $0.1 million.

We have prepared our condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of SEC Regulation S-X. Accordingly, these financial statements do not include all of the information and notes required by GAAP for complete consolidated financial statements. In the opinion of management, all normal recurring adjustments considered necessary to fairly state the results for the interim periods presented have been included. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our condensed consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in our Form 10-K for the year ended December 31, 2010, filed with the SEC on February 18, 2011, which contains a summary of our significant accounting policies. Certain footnote detail is also omitted from the condensed consolidated financial statements unless there is a material change from the information included in the Form 10-K.

Investment in Equity Affiliate

We utilize the equity method to account for investments in equity securities where we have the ability to exercise significant influence over operating and financial policies of the investee. We include a proportionate share of earnings and/or losses of equity method investees in Equity Income (Loss) in Affiliates, net which is included in Other Income (Expense), net in the Condensed Consolidated Statements of Operations. See Note 8 for additional information.

Acquisitions

In April 2011, we acquired Springhouse, LLC (“Springhouse”) an appraisal management company that utilizes a nationwide panel of appraisers to provide real estate appraisals principally to mortgage originators, including the members of Lenders One, and real estate asset managers for $1.8 million.

In July 2011, we acquired the assembled workforce of a sub-contractror (“Tracmail”) in India that performed asset recovery services for $2.4 million.

See Note 3 for additional information.

Foreign Currency Translation

Our reporting currency is the U.S. dollar. Other foreign currency assets and liabilities that are considered monetary items are translated at exchange rates in effect at the balance sheet date. Foreign currency revenues and expenses are translated at transaction date exchange rates. These exchange gains and losses are included in the determination of net income.

Fair Value of Financial Instruments

The fair value of financial instruments, which primarily include Cash and Cash Equivalents, Accounts Receivable, net, Restricted Cash and Accounts Payable and Accrued Expenses at September 30, 2011 and December 31, 2010, are carried at amounts that approximate their fair value due to the short-term nature of these amounts.

Additionally, a put option arrangement was issued to the predecessor owners of MPA. The arrangement, which expires in February 2014, allows the holders to put a portion of the Altisource shares issued as consideration to Altisource at a predetermined price. The fair value calculation is deemed to be a Level 3 calculation. The fair value of the put option at September 30, 2011 of $0.1 million was valued using the following assumptions:


	Assumptions

Risk-free Interest Rate		0.110% – 0.430	%
Expected Stock Price Volatility		25% – 37	%
Expected Dividend Yield		—
Expected Option Life (in years)		0.5 – 2.5
Contractual Life (in years)		—
Fair Value		$0.0 – $0.63

The put option agreement is a written derivative valued similar to stock options and is included within Other Non-current Liabilities on the Condensed Consolidated Balance Sheet. The fair value of the put option agreements will be determined each quarter until such puts are either exercised or forfeited. Any changes in value are included as a component of Other Income (Expense), net in the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Transactions With Related Parties

9 Months Ended

Sep. 30, 2011

Transactions With Related Parties [Abstract]

TRANSACTIONS WITH RELATED PARTIES

NOTE 2 — TRANSACTIONS WITH RELATED PARTIES

Ocwen remains our largest customer. Following the date of Separation, Ocwen is contractually obligated to purchase certain Mortgage Services and Technology Services from us under service agreements. These agreements extend for eight years from the Separation, subject to termination under certain provisions. Ocwen is not restricted from redeveloping these services. We settle amounts with Ocwen on a daily, weekly or monthly basis based upon the nature of the services and when the service is completed.

Ocwen, or services derived from Ocwen’s loan servicing portfolio, as a percentage of each of our segment revenues and as a percentage of consolidated revenues was as follows for the three and nine months ended September 30:


	Three Months Ended						Nine months Ended
	September 30,						September 30,
	2011			2010			2011			2010

Mortgage Services		71	%		70	%		73	%		73	%
Technology Services		38	%		36	%		38	%		36	%
Financial Services		<1	%		<1	%		<1	%		<1	%
Consolidated Revenue		58	%		51	%		57	%		50	%

We record revenues we earn from Ocwen under the various long-term servicing contracts at rates we believe to be market rates as they are consistent with one or more of the following: the fees we charge to other customers for comparable services; the rates Ocwen pays to other service providers; fees commensurate with market surveys prepared by unaffiliated firms; and prices charged by our competitors. As of January 1, 2011, we modified our pricing for IT Infrastructure Services within our Technology Services segment from a rate card model primarily based on headcount to a fully loaded costs plus mark-up methodology.

Transition Services

In connection with the Separation, Altisource and Ocwen entered into a Transition Services agreement under which services in such areas as human resources, vendor management, corporate services, six sigma, quality assurance, quantitative analytics, treasury, accounting, risk management, legal, strategic planning, compliance and other areas are provided to the counterparty for up to two years from the date of Separation. The agreement was subsequently extended in August 2011 for certain services for an additional year. For the nine months ended September 30, 2011 and 2010, Altisource billed Ocwen $1.7 million and $1.2 million respectively ($0.8 million and $0.5 million for the third quarter of 2011 and 2010, respectively), and Ocwen billed Altisource $1.4 million and $0.8 million respectively ($0.5 million and $0.2 million for the third quarter of 2011 and 2010, respectively) for services provided under this agreement. These amounts are reflected as a component of Selling, General and Administrative Expenses in the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
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+ Details

Acquisitions

9 Months Ended

Sep. 30, 2011

Acquisitions [Abstract]

ACQUISITIONS

NOTE 3 — ACQUISITIONS

The results of operations of the following acquisitions have been included in our consolidated results from the respective acquisition dates. The acquisitions did not have a material effect on our financial position, results of operations or cash flows.

Acquisition-related transaction costs are included in Selling, General and Administrative Expenses in the Consolidated Statements of Operations.

Springhouse

In April 2011, we acquired Springhouse an appraisal management company that utilizes a nationwide panel of appraisers to provide real estate appraisals principally to mortgage originators, including the members of Lenders One, and real estate asset managers.

Consideration for the transaction consisted of the amounts provided in the table below. The working capital amount is subject to additional revision in the fourth quarter which is not expected to be material:


(in thousands)	Consideration

Cash	$	1,900
Non-compete agreement		100
Working Capital Adjustment		(215	)

Total Consideration	$	1,785

The purchase consideration based on estimates of fair value of the assets acquired and the liabilities assumed is follows:


(in thousands)

Accounts Receivable	$	108
Premises and Equipment		16
Identifiable Intangible Assets		1,180
Goodwill		701

		2,005
Accounts Payable and Accrued Expenses		(220	)

Total Purchase Price	$	1,785

Management has assigned the following lives to identified assets acquired as a result of the acquisition:


	Estimated Life
	(in Years)

Premises and Equipment		2 – 5
Trademarks⁽¹⁾		4
Customer Lists⁽¹⁾		6
Non-compete⁽¹⁾		2
Goodwill	Indefinite


⁽¹⁾		The identifiable assets are subject to amortization on a straight-line basis as this best approximates the benefit period related to these assets.

The goodwill arising from the Springhouse acquisition assigned to our Mortgage Services segment relates principally to in-place workforce and our ability to go to market more quickly with a retail origination appraisal business. All goodwill and intangible assets related to the acquisition are expected to be amortizable and deductible for income tax purposes.

Tracmail

In July 2011, we acquired the assembled workforce of a sub-contractror in India that performed asset recovery services. Prior to acquisition, the costs paid to the sub-contractor were included in Outside Fees and Services (included in Cost of Revenue in the Condensed Consolidated Financial Statements).

Consideration for the transaction consisted of:


(in thousands)	Consideration

Total Consideration	$	2,378
Obligations Assumed, net		(1,648	)

Cash Consideration, net	$	730

The purchase consideration based on estimates of fair value of the assets acquired and the liabilities assumed is follows:


(in thousands)

Accounts Receivable	$	181
Goodwill		2,378

		2,559
Accounts Payable and Accrued Expenses		(1,829	)

Cash Consideration, net	$	730

Management has assigned the following lives to identified assets acquired as a result of the acquisition:


		Estimated Life
		(in Years)

Goodwill		Indefinite

The goodwill arising from the Tracmail acquisition assigned to our Financial Services segment relates principally to in-place workforce and is expected to be amortizable and deductible for income tax purposes.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Appendix F
-Paragraph F4
-Subparagraph e

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 67-73
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6911361&loc=d3e6927-128479

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6972119&loc=d3e1490-128463

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
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-Paragraph 4
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-URI http://asc.fasb.org/extlink&oid=6972119&loc=d3e1486-128463

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6972119&loc=d3e1383-128463

+ Details

Accounts Receivable, Net

9 Months Ended

Sep. 30, 2011

Accounts Receivable, Net [Abstract]

ACCOUNTS RECEIVABLE, NET

NOTE 4 — ACCOUNTS RECEIVABLE, NET

Accounts Receivable, net consists of the following:


	September 30,			December 31,
(in thousands)	2011			2010

Third-party Accounts Receivable	$	17,268		$	19,039
Unbilled Fees		30,564			32,055
Receivable from Ocwen		3,881			3,950
Receivable from Correspondent One		55			—
Other Receivables		548			583

		52,316			55,627
Allowance for Doubtful Accounts		(2,077	)		(2,132	)


Total	$	50,239		$	53,495

Unbilled Fees consist primarily of Asset Management and Default Management Services for which we recognize revenues over the service delivery period but bill following completion of the service.

Prepaid Expenses and Other Current Asset

9 Months Ended

Sep. 30, 2011

Prepaid Expenses and Other Current Asset/Other Non-Current Assets [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 5 — PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid Expenses and Other Current Assets consist of the following:


	September 30,		December 31,
(in thousands)	2011		2010

Prepaid Expenses	$	5,954	$	5,134
Income Tax Receivable		—		7,327
Other Current Assets		839		615


Total	$	6,793	$	13,076

Premises and Equipment, Net

9 Months Ended

Sep. 30, 2011

Premises and Equipment, Net [Abstract]

PREMISES AND EQUIPMENT, NET

NOTE 6 — PREMISES AND EQUIPMENT, NET

Premises and Equipment, net which includes amounts recorded under capital leases, consists of the following:


	September 30,			December 31,
(in thousands)	2011			2010

Computer Hardware and Software	$	37,287		$	32,931
Office Equipment and Other		12,910			9,717
Furniture and Fixtures		3,628			2,226
Leasehold Improvements		6,843			4,501

		60,668			49,375
Less: Accumulated Depreciation and Amortization		(38,042	)		(31,882	)


Total	$	22,626		$	17,493

Depreciation and amortization expense, inclusive of capital lease obligations, amounted to $6.2 million and $5.0 million for the nine months ended September 30, 2011 and 2010, respectively ($2.1 million and $1.8 million for the third quarter of 2011 and 2010, respectively), and is included in Cost of Revenue for operating assets and in Selling, General and Administrative Expenses for non-operating assets in the accompanying Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2011

Goodwill and Intangible Assets, Net [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

NOTE 7 — GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The following is a summary showing the balance of goodwill by segment:


	Mortgage		Financial		Technology
(in thousands)	Services		Services		Services		Total

Balance, December 31, 2010	$	10,218	$	—	$	1,618	$	11,836
Acquisition of Springhouse		701		—		—		701
Acquisition of Tracmail		—		2,378		—		2,378


Balance, September 30, 2011	$	10,919	$	2,378	$	1,618	$	14,915

Intangible Assets, Net

Intangible Assets, net consists of the following:


	Weighted
	Average
	Estimated		Gross Carrying Amount				Accumulated Amortization					Net Book Value
	Useful Life		September 30,		December 31,		September 30,			December 31,		September 30,		December 31,
(dollars in thousands)	(Years)		2011		2010		2011			2010		2011		2010

Definite-lived Intangible
Assets
Trademarks		16	$	10,614	$	10,200	$	3,095		$	2,346	$	7,519	$	7,854
Customer Lists		19		38,366		37,700		11,677	(a)		7,447		26,689		30,253
Operating Agreement		20		35,000		35,000		2,917			1,604		32,083		33,396
Non-compete Agreement		4		1,300		1,200		525			275		775		925


Total Intangible Assets			$	85,280	$	84,100	$	18,214		$	11,672	$	67,066	$	72,428


(a)		Prior to our acquisition of Nationwide Credit, Inc. (“NCI”) in 2007, NCI completed an acquisition which created tax-deductible goodwill that amortizes for tax purposes over time. When we acquired NCI in 2007, we recorded a lesser amount of goodwill for financial reporting purposes than what had previously been recorded at NCI for tax purposes. This difference between the amount of goodwill recorded for financial reporting purposes and the amount recorded for taxes is referred to as “Component 2” goodwill and it resulted in our recording periodic reductions first to our book goodwill balance in our consolidated financial statements. As our book goodwill balance was fully written off at December 31, 2010, we continue to amortize the remaining Component 2 goodwill for U.S. tax purposes by reducing certain intangible assets by the remaining tax benefits of the Component 2 goodwill as they are realized in our tax returns. The amount amortized was $2.6 million for the nine months ended September 30, 2011. The balance of Component 2 goodwill remaining was $7.1 million as of September 30, 2011 which should generate $4.3 million of reductions of intangible assets when the benefit can be realized for U.S. tax purposes.

Amortization expense for definite lived intangible assets was $4.0 million and $4.1 million for the nine months ended September 30, 2011 and 2010, respectively ($1.3 million and $1.4 million for the third quarter of 2011 and 2010, respectively). Amortization expense is estimated to be $5.3 million for 2011, $5.0 million for 2012, $4.8 million for 2013, $4.5 million for 2014 and $4.4 million for 2015.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Investment In Equity Affiliate

9 Months Ended

Sep. 30, 2011

Investment In Equity Affiliate [Abstract]

INVESTMENT IN EQUITY AFFILIATE

NOTE 8 — INVESTMENT IN EQUITY AFFILIATE

Correspondent One S.A. (“Correspondent One”) facilitates the purchase of closed conforming and government guaranteed residential mortgages from approved mortgage bankers. Correspondent One provides members of Lenders One additional avenues to sell loans beyond Lenders One’s preferred investor arrangements and the members’ own network of loan buyers. We have significant influence over the general operations of Correspondent One consistent with our 49% ownership level and therefore account for our investment under the equity method. We have no additional funding commitments to Correspondent One.

Correspondent One is in the initial phases of building its operations and therefore is expected to operate at a loss into 2012. The Net loss on this investment using the equity method was $0.4 million for the nine months ended September 30, 2011 (all in the third quarter). The following table presents summarized financial information for Correspondent One which had no revenues as of September 30^th as no loans were sold:


	Nine Months Ended
(in thousands)	September 30, 2011

Net loss	$	(729	)

	September 30, 2011
Current Assets	$	30,239
Current Liabilities		217
Equity		30,022

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References + Details

Other Non-Current Assets

9 Months Ended

Sep. 30, 2011

Prepaid Expenses and Other Current Asset/Other Non-Current Assets [Abstract]

OTHER NON-CURRENT ASSETS

NOTE 9 — OTHER NON-CURRENT ASSETS

Other Non-Current Assets consists of the following:


	September 30,		December 31,
(in thousands)	2011		2010

Security Deposits	$	6,871	$	3,047
Unbilled Fees		1,734		1,449
Other		40		40


Total	$	8,645	$	4,536

Accounts Payable, Accrued Expenses and Other Current Liabilities

9 Months Ended

Sep. 30, 2011

Accounts Payable, Accrued Expenses and Other Current Liabilities [Abstract]

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 10 — ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accounts Payable and Accrued Expenses consists of the following:


	September 30,		December 31,
(in thousands)	2011		2010

Accounts Payable	$	3,549	$	5,960
Accrued Expenses — General		12,859		11,189
Accrued Salaries and Benefits		13,278		12,010
Income Taxes Payable		1,685		3,807
Payable to Ocwen		2,326		2,418


Total	$	33,697	$	35,384

Other Current Liabilities consists of the following:


	September 30,		December 31,
(in thousands)	2011		2010

Deferred Revenue	$	2,198	$	2,542
Facility Closure Cost Accrual, Current Portion		129		253
Collections Due to Clients		672		726
Other		5,152		2,095


Total	$	8,151	$	5,616

Facility Closure Costs

During 2009, we accrued facility closure costs (included in Other Current and Other Non-current Liabilities in the Condensed Consolidated Balance Sheet) primarily consisting of lease exit costs (expected to be paid through 2014) and severance for the closure of two facilities. The following table summarizes the activity, all recorded in our Financial Services segment, for the nine months ended September 30, 2011:


(in thousands)	Lease Costs

Balance, December 31, 2010	$	672
Payments		(181	)

Balance, September 30, 2011		491
Less: Long-Term Portion		362


Facility Closure Cost Accrual, Current Portion	$	129

We do not expect significant additional costs related to the closure of these facilities.

Stock Based Compensation

9 Months Ended

Sep. 30, 2011

Stock Based Compensation [Abstract]

STOCK BASED COMPENSATION

NOTE 11 — STOCK BASED COMPENSATION

We have issued stock-based awards in the form of stock options for certain employees and officers. We recorded total stock compensation expense of $2.1 million both for the nine months ended September 30, 2011 and 2010 ($0.7 million and $1.2 million for the third quarter of 2011 and 2010, respectively). The compensation expense is principally included in Selling, General and Administrative Expenses in the accompanying Condensed Consolidated Statements of Operations.

Below is a summary of the different types of stock-based awards issued under our stock plans:

Stock Options

Service-based Options. These options are granted at fair market value on the date of grant. The options generally vest over four years with equal annual cliff-vesting and expire on the earlier of 10 years after the date of grant or following termination of service. A total of 1.1 million service-based awards were outstanding at September 30, 2011.

Market-based Options. These option grants have two components each of which vest only upon the achievement of certain criteria. The first component, which we refer to internally as “ordinary performance” grants, consists of two-thirds of the market-based grant and begins to vest if the stock price realizes a compounded annual gain of at least 20% over the exercise price, so long as the stock price is at least double the exercise price. The remaining third of the market-based options, which we refer to internally as “extraordinary performance” grants, begins to vest if the stock price realizes a compounded annual gain of at least 25% over the exercise price, so long as it is at least triple the exercise price. The vesting schedule for all market-based awards is 25% upon achievement of the criteria and the remaining 75% in three equal annual installments. A total of 2.2 million market-based awards were outstanding at September 30, 2011.

The Company granted 0.2 million stock options (at an average price of $33.15) and 0.9 million stock options (at an average price of $23.54) during the nine months ended September 30, 2011 and 2010, respectively.

The fair value of the service-based options was determined using the Black-Scholes options pricing model while a lattice (binomial) model was used to determine the fair value of the market-based options using the following assumptions as of the grant date:


	September 30, 2011						September 30, 2010
	Black-Scholes			Binominal			Black-Scholes			Binominal

Risk-free Interest Rate		1.69%–1.93	%		0.04%–3.03	%		2.82%–3.20	%		0.02%–3.66	%

Expected Stock Price Volatility		48	%		55.70%–55.80	%		48	%		52	%
Expected Dividend Yield		—			—			—			—

Expected Option Life (in years)		6.25			—			7			—
Contractual Life (in years)		—			14			—			10

Fair Value	$	16.33–$17.85		$	16.91–$20.39		$	11.71–$13.00		$	10.05–$12.35

The following table summarizes the weighted-average fair value of stock options granted, and the total intrinsic value of stock options exercised:


	September 30
(in thousands, except per share amounts)	2011		2010

Weighted-Average Fair Value at Date of Grant Per Share	$	17.66	$	11.60
Intrinsic Value of Options Exercised	$	4,193	$	5,024
Fair Value of Options Vested	$	2,240	$	208

Stock-based compensation expense is recorded net of estimated forfeiture rates ranging from 1% to 3%.

As of September 30, 2011, estimated unrecognized compensation costs related to share-based payments amounted to $7.7 million which we expect to recognize over a weighted-average remaining requisite service period of approximately 3.2 years.

The following table summarizes activity of our stock options:


						Weighted
				Weighted		Average
				Average		Contractual		Aggregate
	Number of			Exercise		Term		Intrinsic Value
	Options			Price		(in years)		(in thousands)

Outstanding at December 31, 2010		3,451,613		$	13.46		7.3	$	52,641

Granted		181,000			33.15
Exercised		(206,661	)		11.36
Forfeited		(155,579	)		24.52

Outstanding at September 30, 2011		3,270,373		$	14.15		6.9	$	69,546


Exercisable at September 30, 2011		1,453,964		$	10.27		5.9	$	36,522

Stock Repurchase Authorization

On May 19, 2010, our shareholders authorized us to purchase up to 3.8 million shares of our common stock in the open market. From authorization through September 30, 2011, we have purchased 1.7 million shares of our common stock on the open market at an average price of $31.02, leaving 2.1 million shares still available for purchase under the program.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

Cost of Revenue

9 Months Ended

Sep. 30, 2011

Cost of Revenue [Abstract]

COST OF REVENUE

NOTE 12 — COST OF REVENUE

Cost of Revenue principally includes payroll and employee benefits associated with personnel employed in customer service and operations roles; fees paid to external providers related to provision of services, reimbursable expenses, technology and telephony expenses as well as depreciation and amortization of operating assets. The components of Cost of Revenue were as follows for the periods ended September 30, 2011 and 2010:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2011		2010		2011		2010

Compensation and Benefits	$	22,497	$	15,829	$	59,296	$	45,519
Outside Fees and Services		21,528		15,311		57,221		41,092
Expense Reimbursements		21,834		13,369		56,934		33,040
Technology and Communications		5,904		3,198		13,439		8,845
Depreciation and Amortization		1,576		1,206		4,495		4,146


Total	$	73,339	$	48,913	$	191,385	$	132,642

Selling, General and Administrative Expenses

9 Months Ended

Sep. 30, 2011

Selling, General and Administrative Expenses [Abstract]

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

NOTE 13 — SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

Selling, General and Administrative Expenses include payroll for personnel employed in executive, sales, marketing, human resources and finance roles. This category also includes occupancy costs, professional fees, depreciation and amortization on non-operating assets. The components of Selling, General and Administrative Expenses were as follows for the periods ended September 30, 2011 and 2010:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2011		2010		2011		2010

Compensation and Benefits	$	5,530	$	5,250	$	17,275	$	13,255
Professional Services		1,479		1,812		4,636		5,869
Occupancy Related Costs		4,449		4,137		12,008		9,978
Amortization of Intangible Assets		1,339		1,450		3,952		4,089
Depreciation and Amortization		483		598		1,679		869
Other		2,049		1,483		5,937		5,215


Total	$	15,329	$	14,730	$	45,487	$	39,275

Other Income (Expense), Net

9 Months Ended

Sep. 30, 2011

Other Income (Expense), Net [Abstract]

OTHER INCOME (EXPENSE), NET

NOTE 14 — OTHER INCOME (EXPENSE), NET

Other Income (Expense), net consists of the following:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2011			2010			2011			2010

Interest Income	$	5		$	10		$	27		$	22
Interest Expense		(20	)		(36	)		(67	)		(87	)
Change in Fair Value of Put Option		70			538			652			445
Equity Loss in Affiliates, net		(355	)		—			(355	)		—
Other, net		(20	)		186			37			286


Total	$	(320	)	$	698		$	294		$	666

Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 15 — EARNINGS PER SHARE

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

Basic and diluted earnings per share for the three and nine months ended September 30, 2011 and 2010 are calculated as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2011		2010		2011		2010

Net Income Attributable to Altisource	$	17,171	$	9,832	$	45,381	$	32,485

Weighted-Average Common Shares Outstanding, Basic		24,341		25,318		24,602		25,080
Dilutive Effect of Stock Options		1,148		1,226		1,118		1,085
Dilutive Effect of Restricted Shares		—		—		—		3

Weighted-Average Common Shares Outstanding, Diluted		25,489		26,544		25,720		26,168


Earnings Per Share
Basic	$	0.71	$	0.39	$	1.84	$	1.30

Diluted	$	0.67	$	0.37	$	1.76	$	1.24

For the three and nine months ended September 30, 2011, an immaterial amount of options that were anti-dilutive have been excluded from the computation of diluted EPS (0.2 million for the three and nine months ended September 30, 2010). These options were anti-dilutive because their exercise price was greater than the average market price of our stock. Also excluded from the computation of diluted EPS for each of the three and nine months ended September 30, 2011 and 2010 are 0.7 million options granted for shares that are issuable upon the achievement of certain market and performance criteria related to our stock price and an annualized rate of return to investors that have not been met at this point.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2011
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 16 — COMMITMENTS AND CONTINGENCIES Litigation The Company is from time to time involved in legal proceedings arising in the ordinary course of business. We record a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated, including expected insurance coverage. For proceedings where a range of loss is determined, we record a best estimate of loss within the range. When legal proceedings are material we disclose the nature of the litigation and to the extent possible the estimate of loss or range of loss. In the opinion of management, after consultation with legal counsel and considering insurance coverage where applicable, the outcome of current legal proceedings both individually and in the aggregate will not have a material impact on the Company’s financial condition, results of operations or cash flows.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Segment Reporting

9 Months Ended

Sep. 30, 2011

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 17 — SEGMENT REPORTING

Our business segments are based upon our organizational structure which focuses primarily on the services offered and are consistent with the internal reporting that we use to evaluate operating performance and to assess the allocation of our resources by our Chief Executive Officer.

We classify our businesses into three reportable segments. Mortgage Services consists of mortgage portfolio management services that span the mortgage lifecycle. Financial Services principally consists of unsecured asset recovery and customer relationship management. Technology Services consists of modular, comprehensive integrated technological solutions for loan servicing, vendor management and invoice presentment and payment as well as providing infrastructure support. In addition, our Corporate Items and Eliminations segment includes eliminations of transactions between the reporting segments and this segment also includes costs recognized by us related to corporate support functions such as finance, legal, human resources, six sigma and quality assurances.

In 2011, we reorganized our reporting structure in that certain services that were originally part of the Mortgage Services Segment are now classified as part of Financial Services. Prior periods have been recast to conform with the current year presentation.

Financial information for our segments is as follows:


	Three Months Ended September 30, 2011
										Corporate
	Mortgage			Financial			Technology			Items and			Consolidated
(in thousands)	Services			Services			Services			Eliminations			Altisource

Revenue	$	82,170		$	17,303		$	14,827		$	(4,507	)	$	109,793
Cost of Revenue		55,106			12,676			9,700			(4,143	)		73,339

Gross Profit		27,064			4,627			5,127			(364	)		36,454
Selling, General and Administrative Expenses		4,227			4,268			756			6,078			15,329

Income (Loss) from Operations		22,837			359			4,371			(6,442	)		21,125
Other Income (Expense), net		(283	)		(9	)		(12	)		(16	)		(320	)

Income (Loss) Before Income Taxes	$	22,554		$	350		$	4,359		$	(6,458	)	$	20,805


Transactions with Related Parties:
Revenue	$	58,200		$	66		$	5,561		$	—		$	63,827

Selling, General and Administrative Expenses	$	—		$	—		$	—		$	506		$	506


	Nine Months Ended September 30, 2011
									Corporate
	Mortgage		Financial			Technology			Items and			Consolidated
(in thousands)	Services		Services			Services			Eliminations			Altisource

Revenue	$	207,384	$	54,779		$	41,115		$	(11,547	)	$	291,731
Cost of Revenue		135,670		39,738			26,479			(10,502	)		191,385

Gross Profit		71,714		15,041			14,636			(1,045	)		100,346
Selling, General and Administrative Expenses		11,663		12,230			3,489			18,105			45,487

Income (Loss) from Operations		60,051		2,811			11,147			(19,150	)		54,859
Other Income (Expense), net		340		(27	)		(39	)		20			294

Income (Loss) Before Income Taxes	$	60,391	$	2,784		$	11,108		$	(19,130	)	$	55,153


Transactions with Related Parties:
Revenue	$	150,483	$	213		$	15,615		$	—		$	166,311

Selling, General and Administrative Expenses	$	—	$	—		$	—		$	1,352		$	1,352


	Three Months Ended September 30, 2010
									Corporate
	Mortgage		Financial			Technology			Items and			Consolidated
(in thousands)	Services		Services			Services			Eliminations			Altisource

Revenue	$	49,523	$	18,939		$	12,963		$	(3,845	)	$	77,580
Cost of Revenue		31,383		13,870			7,239			(3,579	)		48,913

Gross Profit		18,140		5,069			5,724			(266	)		28,667
Selling, General and Administrative Expenses		3,899		4,692			1,610			4,529			14,730

Income (Loss) from Operations		14,241		377			4,114			(4,795	)		13,937
Other Income (Expense), net		687		(9	)		(24	)		44			698

Income (Loss) Before Income Taxes	$	14,928	$	368		$	4,090		$	(4,751	)	$	14,635


Transactions with Related Parties:
Revenue	$	34,765	$	34		$	4,660		$	—		$	39,459

Selling, General and Administrative Expenses	$	—	$	—		$	—		$	223		$	223


	Nine Months Ended September 30, 2010
									Corporate
	Mortgage		Financial			Technology			Items and			Consolidated
(in thousands)	Services		Services			Services			Eliminations			Altisource

Revenue	$	124,570	$	58,875		$	37,422		$	(10,966	)	$	209,901
Cost of Revenue		79,588		42,572			20,555			(10,073	)		132,642

Gross Profit		44,982		16,303			16,867			(893	)		77,259
Selling, General and Administrative Expenses		9,826		12,854			4,040			12,555			39,275

Income (Loss) from Operations		35,156		3,449			12,827			(13,448	)		37,984
Other Income (Expense), net		649		(38	)		(45	)		100			666

Income (Loss) Before Income Taxes	$	35,805	$	3,411		$	12,782		$	(13,348	)	$	38,650


Transactions with Related Parties:
Revenue	$	90,749	$	110		$	13,635		$	—		$	104,494

Selling, General and Administrative Expenses	$	—	$	—		$	—		$	811		$	811

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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+ Details