updated 12/9/2010 2:15:21 AM ET 2010-12-09T07:15:21

LUXEMBOURG, Dec. 8, 2010 (GLOBE NEWSWIRE) -- Altisource recently hosted its Property Preservation and Inspection division's first vendor summit in Atlanta, Georgia. More than 200 people joined to share Altisource's expectations and strategies for vendor performance in property management.

Over the past year, Altisource has recruited thousands of property preservation and inspection vendors to effectively maintain Real Estate Owned (REO) properties. Opportunities for vendors have grown significantly as the number of REO properties under Altisource's management has quadrupled in less than one year. During this time frame, the company has also expanded its geographic service area for these services from four states to a nationwide operation.

"The vendor summit was a culmination of this past year's events, where both new vendors and tenured vendors had the opportunity to familiarize themselves with Altisource's workflows and strategies as they pertain to asset management and disposition," said Tara Williams, Vice President of Field Services for Altisource. "Altisource's success is based largely on the performance of our vendor panel. As such, we must establish strong partnerships with our vendors, providing them the necessary training, resources and feedback to ensure that we all succeed."

The vendor summit provided a good opportunity for Altisource and its vendors to participate in open discussions on fine tuning vendor initiatives and training.   Ms. Williams noted, "We received overwhelmingly positive feedback from vendors who attended, who told us that they appreciated Altisource's efforts through this conference and other vendor training initiatives to set expectations and provide vendors with an understanding of their role and importance as an Altisource vendor."

About Altisource Portfolio Solutions

Altisource Portfolio Solutions S.A. (Nasdaq:ASPS) is a provider of services focused on high value, knowledge-based functions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. Utilizing the company's integrated technology that includes decision models and behavioral-based scripting engines, Altisource provides solutions that improve clients' performance and maximize their returns. Additional information is available at www.altisource.com .

CONTACT:  Altisource Portfolio Solutions S.A.
          Robert D. Stiles, Chief Financial Officer
          +352 2469 7903
          Robert. Stiles@Altisource.lu

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