First quarter business performance highlights include:
- On March 29, completed the acquisition of Homeward fee-based businesses from Ocwen for an aggregate purchase price of $87.0 million;
- Based on portfolio acquisitions announced by Ocwen, we anticipate boarding up to 1.5 million additional loans to REALServicing over the next 12 months, less service transfers and run-off;
- Ocwen boarded all of the Homeward non-GSE loans on the REALServicing platform by April 1, 2013;
- From January 1 through April 5, 2013, Altisource Residential Corporation ("Residential") acquired primarily non-performing loan portfolios with a total unpaid principal balance of $349.6 million, representing 1,410 loans; and
- Acquired 0.3 million shares of Altisource common stock during the quarter at an average price of $82.58 per share.