Celink Selects Altisource to Deliver Comprehensive REO Asset Management Services for a Portion of its HECM/Reverse Mortgage REO Portfolio
September 19, 2023
LUXEMBOURG, SEPTEMBER 19, 2023 (GLOBE NEWSWIRE) — Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that CelinkTM, a leading reverse mortgage subservicer, retained Altisource as its REO asset manager for a portion of its HECM/reverse mortgage portfolio.
"We are thrilled to work with Celink on its reverse mortgage REO portfolio. We are confident that our asset management experience and robust suite of related services will help drive strong results for Celink’s portfolio,” said Travis Britsch, Senior Vice President and General Manger, Marketplace.
Mr. Britsch further commented, “Altisource has a strong track record as a leading REO Asset Manager. Since 2009, Altisource has helped manage and sell over 260,000 homes. This collaboration with Celink marks an exciting expansion for Altisource into the reverse mortgage REO space, further solidifying Altisource's position as an end-to-end real estate and mortgage services provider.”
Altisource Portfolio Solutions S.A. is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve. Additional information is available at www.Altisource.com.
Celink is the nation's leading subservicer of reverse mortgages for almost two decades and is the subservicer of choice for the nation's largest reverse mortgage lenders. With operations in both Austin, TX and Lansing, MI, Celink is a Ginnie Mae-approved Participation Agent and Subcontract Servicer for the HMBS program, as well as a Moody's approved servicer of reverse mortgages ("SQ2" rating). Celink utilizes an innovative servicing platform, ReverseServ Elite, which is fully scalable and supports numerous proprietary reverse mortgage products in addition to the HUD HECM program. For more information, visit www.celink.com.
FOR FURTHER INFORMATION CONTACT:
Michelle D. Esterman
Chief Financial Officer, Altisource
T: (770) 612-7007