Altisource Launches its Global Accelerator led by Technology Veteran Michael Schreck

 Altisource Launches its Global Accelerator led by Technology Veteran Michael

Leading FinTech Provider Names Co-Founder of Upromise, m-Qube and General
Catalyst Partners to Lead Altisource Labs

PR Newswire

LUXEMBOURG, May 8, 2014

LUXEMBOURG, May 8, 2014 /PRNewswire/ -- Altisource Portfolio Solutions S.A.
("Altisource" and NASDAQ:ASPS), a premier marketplace and transaction
solutions provider for the real estate and mortgage industries, announces the
launch of its global corporate technology Accelerator ("Accelerator") to be
led by Altisource ^ Senior Vice President and Altisource^® Labs' Managing
Director Michael Schreck. The Accelerator formalizes Altisource's approach to
commercializing internal intellectual property and technology with the
eventual goal of building market-leading enterprise software and analytics
businesses that benefit from Altisource's market position and help accelerate
Altisource's real estate and mortgage marketplace strategy. The Accelerator
program uniquely offers access to Altisource's global talent resources,
industry leading customer roster and significant next-gen software market
opportunities shaped by changes in the financial services industries.


The Labs will benefit from Schreck's diverse leadership experiences as a
former CEO, founder and private equity investor. He most recently served as
CEO of Zmags and Corrective Solutions, and previously co-founded Upromise,
m-Qube and the venture capital firm General Catalyst Partners.

Schreck said, "The Altisource Accelerator is very unconventional. It offers
turn-key access to marquee customers, massive markets, proven software
concepts and significant capital. What we need is top technology talent
capable of harnessing these resources and accelerating the development of the
next generation of successful enterprise software companies. I am excited to
be part of fulfilling Altisource's ambition to grow multiple software product
companies that serve very large, global markets."

Mark J. Hynes, President of Technology Services at Altisource, said, "We're
bullish about attracting the type of global talent that will drive the next
wave of startups with a particular focus on addressing critical process and
compliance challenges in the mortgage and real estate sectors. Michael
Schreck's unique experience and track record of building innovative technology
companies and attracting top entrepreneurial leaders makes him the perfect fit
to lead Altisource Labs and the Accelerator program."

Forward-Looking Statements

This press release contains forward-looking statements that involve a number
of risks and uncertainties. Those forward-looking statements include all
statements that are not historical fact, including statements about
management's beliefs and expectations. Forward-looking statements are based on
management's beliefs as well as assumptions made by and information currently
available to management. Because such statements are based on expectations as
to future economic performance and are not statements of historical fact,
actual results may differ materially from those projected. The Company
undertakes no obligation to update any forward-looking statements whether as a
result of new information, future events or otherwise. The risks and
uncertainties to which forward-looking statements are subject include, but are
not limited to: Altisource's ability to retain existing customers and attract
new customers; general economic and market conditions; governmental
regulations, taxes and policies; availability of adequate and timely sources
of liquidity; and other risks and uncertainties detailed in the
"Forward-Looking Statements," "Risk Factors" and other sections of the
Company's Form 10-K and other filings with the Securities and Exchange

About Altisource

Altisource Portfolio Solutions S.A. is a premier marketplace and transaction
solutions provider for the real estate, mortgage and consumer debt industries
offering both distribution and content. We leverage proprietary business
process, vendor and electronic payment management software and behavioral
science based analytics to improve outcomes for marketplace participants.
Altisource was named the 20^th fastest growing global company by Fortune for
2013. Additional information is available at

​About Altisource Labs

Altisource Labs, an Altisource business unit, provides compelling startup
opportunities for premier technology talent to help build the next-generation
of disruptive software solutions. Altisource Labs includes a global technology
Accelerator where teams are incubating and accelerating the next wave of
enterprise and Big Data software companies. To support its growth, the Labs is
hiring hundreds of technology professionals over the next 12 to 18 months,
including executive, engineering, sales and product talent. For more
information, visit and follow @AltisourceLabs on
Twitter, LinkedIn and Facebook.

Altisource logo.

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SOURCE Altisource

Contact: Investor Contact: Michelle D. Esterman, Chief Financial Officer, +352
2469 7950,; Press Contact: Alysha Frank,
Marketing Coordinator, 617-728-5516,
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