Stone Fox Capital
Long/short equity, growth at reasonable price, research analyst, deep value

Altisource Portfolio Solutions: Facing An Attractive Conflict

After astonishing returns following a spin-off from Ocwen Financial Corporation (NYSE:OCN) several years back, Altisource Portfolio Solutions (NASDAQ:ASPS) shareholders face a surprising dilemma. The company that was benefiting in a way from government legislation that is pushing large financial institutions to sell mortgage-servicing rights now faces a government intent on limiting the growth going forward.

Altisource Portfolio Solutions is a leading provider of transaction solutions for the real estate, mortgage and consumer debt industries. The company leverages proprietary business process, vendor and electronic payment management software and behavioral science based analytics to improve outcomes for marketplace participants. In addition, the company still obtains a majority of revenue from Ocwen despite recent efforts to attract new...

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