SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Revenue by Major Customers by Reporting Segments

Revenue from Ocwen as a percentage of segment and consolidated revenue was as follows:

	2022		2021
Servicer and Real Estate	53	%	49	%
Origination	—	%	—	%
Corporate and Others	—	%	—	%
Consolidated revenue	41	%	31	%

Disaggregation of revenue

Disaggregation of total revenues by major source was as follows:

(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
For the year ended December 31, 2022	$	134,631	$	10,450	$	8,039	$	153,120
For the year ended December 31, 2021	157,855		14,043		6,555		178,453

Disaggregation of total revenues by segment and major source was as follows for the years ended December 31:

	2022
(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
Servicer and Real Estate	$	101,716	$	10,416	$	7,529	$	119,661
Originations	32,915		34		510		33,459
For the year ended December 31, 2022	$	134,631	$	10,450	$	8,039	$	153,120

	2021
(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
Servicer and Real Estate	$	98,610	$	9,180	$	5,846	$	113,636
Originations	59,245		42		709		59,996
Corporate and Others	—		4,821		—		4,821
For the year ended December 31, 2021	$	157,855	$	14,043	$	6,555	$	178,453

Schedule of financial information of segments

Financial information for our segments is as follows:

	For the year ended December 31, 2022
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	119,661	$	33,459	$	—	$	153,120
Cost of revenue	81,148		32,052		18,105		131,305
Gross profit (loss)	38,513		1,407		(18,105)		21,815
Selling, general and administrative expenses	12,057		8,825		33,873		54,755
Loss on sale of businesses	—		—		242		242
Income (loss) from operations	26,456		(7,418)		(52,220)		(33,182)
Total other income (expense), net	4		—		(14,389)		(14,385)
Income (loss) before income taxes and non-controlling interests	$	26,460	$	(7,418)	$	(66,609)	$	(47,567)

	For the year ended December 31, 2021
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	113,636	$	59,996	$	4,821	$	178,453
Cost of revenue	87,427		49,012		34,927		171,366
Gross profit (loss)	26,209		10,984		(30,106)		7,087
Selling, general and administrative expenses	12,557		5,702		48,790		67,049
Gain on sale of businesses	—		—		(88,930)		(88,930)
Income from operations	13,652		5,282		10,034		28,968
Total other income (expense), net	8		—		(13,691)		(13,683)
Income (loss) before income taxes and non-controlling interests	$	13,660	$	5,282	$	(3,657)	$	15,285

Total Assets

Total assets for our segments are as follows:

(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Total assets:
December 31, 2022	$	63,696	$	53,984	$	77,325	$	195,005
December 31, 2021	61,832		59,741		136,235		257,808

Summary of changes in goodwill

Changes in goodwill during the years ended December 31, 2022 and 2021 are summarized below:

(in thousands)	Total
Balance as of January 1, 2021	$	73,849
Write-off (1)	(17,889)
Balance as of December 31, 2021 and 2022	$	55,960
______________________________________

(1)    During 2021, the Company sold its equity interest in Pointillist (See Note 4 for additional information) which had $17.9 million of goodwill attributed to it. The amount of goodwill attributable to Pointillist was based on the relative fair values of Pointillist and the Company excluding Pointillist. Pointillist was determined to be a business within the Company’s existing reporting unit.

Changes in goodwill during the years ended December 31, 2022 and 2021 are summarized below:

(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Total
Balance as of January 1, 2021	$	30,681	$	25,279	$	17,889	$	73,849
Write-off (1)	—		—		(17,889)		(17,889)
Balance as of December 31, 2021 and 2022	$	30,681	$	25,279	$	—	$	55,960
______________________________________

(1)    During 2021, the Company sold its equity interest in Pointillist (See Note 4 for additional information) which had $17.9 million of goodwill attributed to it. The amount of goodwill attributable to Pointillist was based on the relative fair values of Pointillist and the Company excluding Pointillist. Pointillist was determined to be a business within the Company’s existing reporting unit.