FREDERIKSTED, U.S. Virgin Islands, May 9, 2013 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation ("AAMC") (OTCQX:AAMC) announced today financial and operating results for the first quarter 2013. Net loss attributable to stockholders for the quarter totaled $840,000 or $0.36 per share based on 2.3 million shares outstanding. First quarter business performance highlights:
- On February 21, 2013, we completed an acquisition on behalf of Altisource Residential Corporation (Residential) of a portfolio of non-performing residential mortgage loans (NPLs) having aggregate collateral market value of approximately $94.2 million.
- On March 21, 2013, we completed an acquisition on behalf of Residential of an NPL portfolio having aggregate collateral market value of approximately $38.7 million.
- On March 22, 2013, on behalf of Residential, we entered into a $100 million Master Repurchase Agreement to finance the acquisition and ownership of sub-performing and non-performing residential mortgage loans and REO properties by Residential.