Altisource Portfolio Solutions or Altisource is the leading company on mortgage technology and financial service for mortgage and real estate industries. Altisource has expressed the company's acquisition of RentRange and Investability, adding a massive network for the company's data capabilities and offerings in the real estate services market.
According to marketwatch.com, Investability is residential real estate search and purchasing online platform that uses data from analytics to give investors the trend on the cash flow, net yield, capitalization rate and market value on properties up for sale in the United States. Meanwhile, RentRange "is a leading provider of rental home data and information to the financial services and real estate industries, delivering a wide assortment of address and geography level data, analytics, and rent-based valuation solutions for single and multi-family properties", according to the report.
The acquisition of the two companies will allow Altisource to give costumers accurate data about rental home prices and information as well as inventory of valuable investment properties.
In a report by nationalmortgagenews.com, the amount of the acquisition was not disclosed yet and there seems to be no plans from both parties to divulge that information any sooner.
Chief Executive Officer of Altisource William Shepro said "Altisource brings a forward-looking approach to the real estate marketplace that we're very excited to join. Our vision has always been to develop the most comprehensive residential property rental data repository in the country, along with a powerful and unique search and transaction engine for rental homes. Together with Altisource, we will quickly realize this vision in a much broader and more impactful way."
With the purchase of RentRange and Investability, Altisource will now provide services to its existing customers as well as consumers using Hubzu [®] and Owners.com [®], and real estate auction and sales platform users.
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