reports
Altisource Asset Management Corporation Announces Favorable Ruling fro...
CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- Altisource Asset Management Corporation (NYSE: AAMC) announced today that the Supreme Court of the State of New York, Appellate Division, First Judicial Department issued a ruling in favor of the company that it did not breach any contractual obligation to redeem preferred shares held by Luxor Capital Group. The appellate court held that AAMC, "established its entitlement to summary judgment dismissing the complaint. In opposition [Luxor] failed to raise a triable issue of fact, and also failed to establish their entitlement to summary ju...
AAMC Issues Statement Regarding JPMorgan Chase Settlement Involving Je...
CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- In light of today’s litigation settlement by JPMorgan Chase & Co. and given that AAMC is based in the U.S. Virgin Islands, the company issued the following statement: Altisource Asset Management Corporation (NYSE: AAMC) has had no known personal, financial or business interactions with the late Jeffrey Epstein, his estate, or business entities. John P. de Jongh, Jr., former AAMC chairman, last week voluntarily resigned from the company’s board of directors. Due to de Jongh’s former position as governor of the U.S. Virgin Islands, he m...
AAMC Announces Agreement with B. Riley Financial to Repurchase Common ...
CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE: AAMC) announced that it has entered into an agreement with B. Riley Financial to be the exclusive broker for the Company to facilitate the buyback of shares of the Company’s common stock under its previously announced repurchase plan. “While the Company’s stock price has increased recently, we still believe the current stock price is undervalued relative to where we expect to be once our first platform transitions from the buildout phase to the normalization phase,” s...
AAMC Enters into Forward Sale Contracts to Sell Alternative Credit Pro...
CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE: AAMC) announces that it has entered into forward contracts to sell alternative credit products to two of the US’s largest institutional counterparties that manage insurance and credit money assets. The organizations have over $50 billion and $15 billion in assets under management. Establishing partnerships with blue chip asset managers affirms AAMC’s distinctive loan origination template: AAMC’s strategy leverages growing relationships with large multi-asset managers ...
AAMC Hires Danya Sawyer as Chief Operating Officer of Alternative Lend...
CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE: AAMC) announces that Danya Sawyer will join the Company as Chief Operating Officer of the Alternative Lending Group (“ALG”) on February 1. This press release features multimedia. View the full release here: Altisource Asset Management Corporation (NYSE: AAMC) announces that Danya Sawyer will join the Company as Chief Operating Officer of the Alternative Lending Group on February 1. (Photo: Business Wire) “We expect that Danya will make an immediate positive impact,” Ja...
AAMC Issues Preferred Stock to USVI Executives; CEO Preferred Stock Di...
CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE: AAMC) announced that it has issued preferred stock to both Jason Kopcak, Chief Executive Officer of the Company, and Stephen R. Krallman, Chief Financial Officer of the Company. “The Company originally adopted the Preferred Stock Plan in 2016 to incentivize employees to become employed, align their economic interest with the Company’s success and remain employees of the Company in the U.S. Virgin Islands,” said Chairman of the Board, John de Jongh, Jr. “We are pleased...
Arbitrator Awards AAMC $1.6 Million in Arbitration Brought by its Form...
CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE: AAMC) announced that the arbitrator awarded the Company more than $1.6 million in the arbitration brought against the Company by Indroneel Chatterjee, the Company’s former Chief Executive Officer. Mr. Chatterjee filed the arbitration after the Company terminated him for cause in April 2021. The arbitrator had previously dismissed all of Mr. Chatterjee’s claims and awarded the Company approximately $600,000 related to the partial return of Mr. Chatterjee’s signing bonu...
Altisource Asset Management Corporation Enters into New $50 Million Li...
Altisource Asset Management Corporation Enters into New $50 Million Line of Credit CHRISTIANSTED, U.S. Virgin Islands, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (NYSE: AAMC) announced today that it has entered into an agreement for a $50 million line of credit with NexBank. “We are excited to partner with NexBank as we continue to expand our originations in the business purpose loan space with our focus on funding loans for investor properties. This new line of credit gives us additional access to capital to continue to grow and originate alternative asset...
Altisource Asset Management Corporation Reports Third Quarter 2022 Res...
Altisource Asset Management Corporation Reports Third Quarter 2022 Results CHRISTIANSTED, U.S. Virgin Islands, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) today announced financial and operating results for the third quarter of 2022. Third Quarter 2022 Highlights and Recent Developments The Company has acquired and originated more than $79.1 million in loan commitments and has earned $1.9 million from loan interest and fee income during the third quarter of 2022.As of September 30, 2022, AAMC’s cash position w...
AAMC Files Lawsuit Against Former Board Member Nathaniel Redleaf for I...
AAMC Files Lawsuit Against Former Board Member Nathaniel Redleaf for Improperly Disclosing Confidential Information for Financial Gain CHRISTIANSTED, U.S. Virgin Islands, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) today filed a complaint in the Superior Court of the U.S. Virgin Islands, Division of St. Croix, against former AAMC board member Nathaniel Redleaf, who improperly disclosed confidential information of the firm to financially benefit himself and his current employer, New York-based hedge fund Luxor Ca...
Altisource Asset Management Corporation Announces Investor Call
Altisource Asset Management Corporation Announces Investor Call CHRISTIANSTED, U.S. Virgin Islands, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) announced today that it will hold an investor call on November 2, 2022 at 9:30 a.m. EST to discuss its 2022 third quarter results. Please submit any questions in advance of the call to prior to 4:00 p.m. EST, Tuesday, November 1, 2022. For those who wish to participate, the domestic toll-free access number is 1-888-394-8218, or for international callers, 1-929-477-0...
Altisource Asset Management Corporation Provides Financial Update
Altisource Asset Management Corporation Provides Financial Update CHRISTIANSTED, U.S. Virgin Islands, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (NYSE: AAMC) announced today that it has recognized approximately $1.1 million of total revenue in the first two months of the third quarter 2022. This is more than double the total revenue reported for the 2022 second quarter. This increase was driven primarily by the growth in our residential transitional (‘private credit”) loan portfolio to approximately $99 million at the end of August 2022. If the Company does...
AMENDED: Altisource Asset Management Corporation Announces an Update t...
AMENDED: Altisource Asset Management Corporation Announces an Update to Its Business Model CHRISTIANSTED, U.S. Virgin Islands, Aug. 24, 2022 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Altisource Asset Management Corporation (NYSE American: AAMC), please note that the hyperlink for the Business Model Update in the first paragraph was incorrect. The corrected release follows: Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) announced today that it has updated its business model. The Business Model Update is availa...
Altisource Asset Management Corporation Announces an Update to Its Bus...
Altisource Asset Management Corporation Announces an Update to Its Business Model CHRISTIANSTED, U.S. Virgin Islands, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) announced today that it has updated its business model. The Business Model Update is available at . About AAMC AAMC is an alternative lending company that provides liquidity and capital to under-served markets. We also continue to assess opportunities that could potentially be of long-term benefit to shareholders such as Crypto-ATMs. Additional info...
Altisource Asset Management Corporation Announces NYSE Acceptance of R...
Altisource Asset Management Corporation Announces NYSE Acceptance of Remediation Plan to Address Deficiency Letter Notice CHRISTIANSTED, U.S. Virgin Islands, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) today announced that the NYSE American LLC (the “NYSE”) has accepted the Company’s remediation plan (the “Plan”) to regain compliance with Rule 1003(a)(i). As previously disclosed, the Company will now have until November 30, 2023 to execute on our Plan; during this time AAMC will be required to provide quarterl...
Altisource Asset Management Corporation Reports Second Quarter 2022 Re...
Altisource Asset Management Corporation Reports Second Quarter 2022 Results CHRISTIANSTED, U.S. Virgin Islands, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) today announced financial and operating results for the second quarter of 2022. Second Quarter 2022 Highlights and Recent Developments The Company has purchased more than $40 million in loans held for investment and has earned $0.5 million from loan interest during the second quarter of 2022.As of June 30, 2022, AAMC’s cash position was $31.3 million, which...
Altisource Asset Management Corporation Announces Investor Call
Altisource Asset Management Corporation Announces Investor Call CHRISTIANSTED, U.S. Virgin Islands, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (NYSE: AAMC) (the “Company”) announced today that it would hold a conference call on Thursday, August 11, 2022 at 8:30 a.m. EST to discuss the firm’s business plan and outlook in a presentation to be issued at approximately 7:30 a.m. EST. The presentation will also be available on the firm's website, . Members of the public who would like to listen to the conference call should dial 1-888-221-3881 (in the U.S.) and ...
Altisource Asset Management Corporation Announces Line of Credit
Altisource Asset Management Corporation Announces Line of Credit CHRISTIANSTED, U.S. Virgin Islands, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (NYSE: AAMC) announced today that it entered into an agreement for a $50 million line of credit with Flagstar Bank FSB, a federal savings bank. “This line of credit gives the Company access to capital to continue to grow and develop our alternative lending platform,” said Chief Executive Officer, Jason Kopcak. “The management team’s efforts in building the company’s operations will be greatly enhanced as we proc...
Altisource Asset Management Corporation Announces Repurchase of Common...
Altisource Asset Management Corporation Announces Repurchase of Common Stock CHRISTIANSTED, U.S. Virgin Islands, July 22, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (NYSE: AAMC) announced today that it purchased 286,873 shares of its common stock from Putnam Focused Equity Fund, a series of Putnam Funds Trust, at $10 per share. "This is a unique opportunity for the company to purchase its common stock below its trading price, which we believe provides excellent value to our shareholders," said Chief Executive Officer Jason Kopcak. "This transaction reflects our ...
Altisource Asset Management Corporation Announces Receipt of Deficienc...
Altisource Asset Management Corporation Announces Receipt of Deficiency Letter from NYSE American Exchange CHRISTIANSTED, U.S. Virgin Islands, June 03, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) today announced that it received a deficiency letter (the “Letter”) from the NYSE American LLC (the “NYSE”) indicating that the Company is not in compliance with the NYSE continued listing standard as set forth in Section 1003(a)(i), (ii) and (iii) of the NYSE Company Guide. The Letter does not result in the immediate delisting ...
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