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REVENUE
12 Months Ended
Dec. 31, 2018
Revenues [Abstract]  
REVENUE
REVENUE
We classify revenue in three categories: service revenue, revenue from 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 2). The components of revenue were as follows for the years ended December 31:
(in thousands)
 
2018
 
2017
 
2016
 
 
 
 
 
 
 
Service revenue
 
$
805,480

 
$
899,561

 
$
942,599

Reimbursable expenses
 
30,039

 
39,912

 
52,011

Non-controlling interests
 
2,683

 
2,740

 
2,693

 
 
 
 
 
 
 
Total
 
$
838,202

 
$
942,213

 
$
997,303


As discussed in Note 2, the Company adopted Topic 606 effective January 1, 2018 using the cumulative effect method.
Disaggregation of Revenue
Disaggregation of total revenues by segments and major source is as follows:
 
 
Twelve months ended December 31, 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
 
$
537,161

 
$
73,782

 
$
28,207

 
$
639,150

Origination Solutions
 
38,597

 
8,909

 
249

 
47,755

Total Mortgage Market
 
575,758

 
82,691

 
28,456

 
686,905

 
 
 
 
 
 
 
 
 
Real Estate Market:
 
 
 
 
 
 
 
 
Consumer Real Estate Solutions
 
8,593

 

 
2

 
8,595

Real Estate Investor Solutions
 
80,162

 

 
1,533

 
81,695

Total Real Estate Market
 
88,755

 

 
1,535

 
90,290

 
 
 
 
 
 
 
 
 
Other Businesses, Corporate and Eliminations
 
55,226

 
5,733

 
48

 
61,007

 
 
 
 
 
 
 
 
 
Total revenue
 
$
719,739

 
$
88,424

 
$
30,039

 
$
838,202


Contract Balances
Our contract assets consist of unbilled accounts receivable (see Note 7). Our contract liabilities consist of current deferred revenue as reported on the consolidated balance sheets and non-current deferred revenue (see Note 15). 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 $20.6 million for the year ended December 31, 2018.