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Changed Risks for ALTISOURCE PORTFOLIO SOLUTIONS S.A (ASPS)

If we fail to maintain adequate internal controls, our ability to prepare accurate and timely financial statements could be impaired, which could adversely affect investor confidence in our reported financial information

Our customers are subject to government regulation, requiring our customers to, among other things, oversee their vendors and maintain documentation that demonstrates their oversight If our performance does not meet or is perceived not to meet such requirements, our results of operations could be adversely affected

Our senior secured term loan makes us more sensitive to the effects of economic change, including economic downturns and interest rate increases; our level of debt and provisions in our senior secured term loan agreement could limit our ability to react to changes in the economy or our industry

Under certain material agreements that we are currently a party to or may enter into in the future, the formation by shareholders of Altisource of a “group” (as that term is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”)) with ownership of Altisource capital stock exceeding a defined percentage may give rise to a termination event or an event of default, which could result in a material adverse impact on the Company’s future revenue, results of operations and financial position

Our ability to meet our growth objectives is dependent on the timing and market acceptance of our existing and new service offerings

We may be unable to repay the balance of our senior secured term loan upon maturity in April 2024, particularly if cash from operations declines and assets are not readily available for sale

We entered into the Brokerage Agreement with NRZ’s licensed brokerage subsidiary with respect to the Subject MSRs If the Brokerage Agreement is terminated, our business and results of operations could be affected

The Company has a significant net operating loss recognized by one of Altisource’s Luxembourg subsidiaries, Altisource Sà rl The utilization of this net operating loss is dependent on future earnings of Altisource Sà rl, which may not occur before the net operating loss expires

Our success depends on members of our Board of Directors, our executive officers and other key personnel

Our primary source of liquidity is cash flows from operations We seek to deploy cash generated in a disciplined manner, including to repurchase and repay our senior secured term loan and, from time to time, repurchase shares of our common stock, make capital investments and make acquisitions We may not continue to deploy cash as we have in the past

We may be unable to reduce our cost structure in a timely manner in connection with a significant loss of revenue and/or customers

We make extensive use of independent contractors in certain of our lines of business If we are required to reclassify independent contractors as employees, we may incur fines and penalties and additional costs and taxes which could adversely affect our business, financial condition and results of operations

Many of our institutional customers are consolidating the number of service providers, and we may face significant pricing pressures

We are providing other default-related services for the Subject MSRs subject to our agreements with Ocwen, and we do not have a services agreement with NRZ If NRZ significantly reduces the volume of default-related services for the Subject MSRs, our business and results of operations could be affected

Our business and the business of our customers are subject to extensive scrutiny and regulation, and the perceived failure or failure to comply with existing or new regulations or license requirements may adversely impact us

In the fourth quarter of 2017, the United States amended its tax code which resulted in the reduction of the United States corporate tax rate This tax code amendment changed our consolidated effective income tax rate, including compared to our competitors, and could adversely affect our results of operations

We could have conflicts of interest with Ocwen, NRZ, and certain of our shareholders, members of management, and members of our Board of Directors, which may be resolved in a manner adverse to us

Our failure to maintain certain net debt less marketable securities to EBITDA ratios contained in our senior secured term loan agreement could result in required payments to the lenders of a percentage of our excess cash flows, which could adversely affect our ability to use our excess cash flows for other purposes

Technology disruptions, failures, defects or inadequacies, development delays or installation difficulties, acts of vandalism or the introduction of harmful code could damage our business operations and increase our costs