Hello,
Now you know why volume has been so bad on Altisource since Dec 2012! I suspect they bought equator just for the platform to connect to Agents.and to charge fees, fees, and more fees ..Maybe the new normal is make everyone "pay" to do business with the many vendors....Looks like the REO/BPO industry is just like any industry I have seen..... lots of players at first, lots of models...and then in a few years....you have the Cartel and Heisenberg.....What are your thoughts?
Joey Singh
Ameritax BPO Inc.
Business Development
Tax and Business Consulting
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Replies
Altisource Announces Deal to Buy Equator
The deal is valued at $70 million on closing and includes contingent earn out consideration of up to an $80 million over three years, according to the announcement.
Equator will retain its name, offices, and management team through the acquisition, which is expected to close within 30 days
I HATE THIS !!! When I talk to people at Altisource, they cannot understand English !! They repeat themselves over and over and ask me the same questions over and over. They mostly use HUBZU to list their properties and not very often see listings with local agents. This is terrible news .... just my opinion I think this is going to really hurt us all
As an REO broker and Altisource member for the past 5+ years, I greet this news with disappointment. Equator referrals have dropped off and Altisource has been one of my least favorite companies to deal with. They should call themselved "AltiOutsource" since I have never dealt with anyone from that company outside of India. Support has been nil, fees/offers have been among the lowest I've seen in the industry. While the Equator CEO claims there will be no internal changes, I can't help but feel he has sold out. Time will tell!
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