REVENUE

Revenue includes service revenue, reimbursable expenses and non-controlling interests. Service revenue consists of amounts attributable to our fee-based services and sales of short-term investments in real estate. Reimbursable expenses and non-controlling interests are pass-through items for which we earn no margin. Reimbursable expenses consist of amounts we incur on behalf of our customers in performing our fee-based services that we pass directly on to our customers without a markup. Non-controlling interests represent the earnings of Lenders One, a consolidated entity that is a mortgage cooperative managed, but not owned, by Altisource. Lenders One is included in revenue and reduced from net income to arrive at net income attributable to Altisource (see Note 1).

The components of revenue were as follows:



	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2018		2017		2018		2017

Service revenue	$	196,906	$	224,308	$	594,533	$	692,254
Reimbursable expenses	6,815		9,866		23,970		31,786
Non-controlling interests	854		805		2,066		2,107

Total	$	204,575	$	234,979	$	620,569	$	726,147

As discussed in Note 1, the Company adopted Topic 606 effective January 1, 2018 using the cumulative effect method.

Disaggregation of Revenue

Disaggregation of total revenues by segment and major source is as follows:



	Three months ended September 30, 2018
(in thousands)	Revenue recognized when services are performed or assets are sold		Revenue related to technology platforms and professional services		Reimbursable expenses revenue		Total revenue

Mortgage Market:
Servicer Solutions	$	135,395	$	20,565	$	6,530	$	162,490
Origination Solutions	11,223		2,160		87		13,470
Total Mortgage Market	146,618		22,725		6,617		175,960

Real Estate Market:
Consumer Real Estate Solutions	2,693		—		—		2,693
Real Estate Investor Solutions	10,132		—		185		10,317
Total Real Estate Market	12,825		—		185		13,010

Other Businesses, Corporate and Eliminations	14,138		1,454		13		15,605
Total revenue	$	173,581	$	24,179	$	6,815	$	204,575



	Nine months ended September 30, 2018
(in thousands)	Revenue recognized when services are performed or assets are sold		Revenue related to technology platforms and professional services		Reimbursable expenses revenue		Total revenue

Mortgage Market:
Servicer Solutions	$	404,015	$	57,363	$	22,592	$	483,970
Origination Solutions	30,651		7,138		201		37,990
Total Mortgage Market	434,666		64,501		22,793		521,960

Real Estate Market:
Consumer Real Estate Solutions	6,410		—		2		6,412
Real Estate Investor Solutions	44,882		—		1,141		46,023
Total Real Estate Market	51,292		—		1,143		52,435

Other Businesses, Corporate and Eliminations	41,785		4,355		34		46,174
Total revenue	$	527,743	$	68,856	$	23,970	$	620,569

Contract Balances

Our contract assets consist of unbilled accounts receivable (see Note 5). Our contract liabilities consist of current deferred revenue as reported on the condensed consolidated balance sheets and non-current deferred revenue (see Note 12). Revenue recognized that was included in the contract liability at the beginning of the period, including amounts added to the contract liability as part of the cumulative effect of adopting Topic 606, was $6.1 million and $17.4 million for the three and nine months ended September 30, 2018, respectively.