Altisource, the REO Company Behind Hubzu and Equator

What Does Altisource Do?

Altisource runs the full sale of a foreclosed home for its clients, from taking over the property after foreclosure to listing, marketing and closing the sale. The company describes its REO (real estate owned) service as asset management plus online auction marketing of bank-owned homes, and REO simply means a home the lender took back through foreclosure.

According to its 2025 annual report, Altisource reports 2 business segments, Servicer and Real Estate, and Origination. The REO work that buyers and agents see sits inside the first segment, spread across 3 groups:

• Marketplace. The Hubzu auction website, a real estate brokerage and asset management, which means overseeing each home until it sells.
• Technology. Equator, software that servicers use to manage REO homes, short sales, foreclosures and evictions, plus other tools such as Vendorly Invoice and RentRange.
• Solutions. Field services, renovation, foreclosure trustee work, title insurance through Premium Title and valuations through Springhouse.

The brokerage arm, REALHome Services and Solutions, is licensed in all 50 states and the District of Columbia and says it has handled more than $20 billion in home sales since 2009. That license lets Altisource act as the broker on homes it sells for its clients.

Who Owns Altisource, and Where Did It Come From?

Altisource is owned by its public shareholders and grew out of Ocwen, the mortgage servicer now called Onity Group, which is still its largest customer. The company signed its founding services agreement with Ocwen on August 10, 2009, the date that marks its start as a separate business.

A few dates explain how the company looks today:

• November 15, 2013. Altisource closed its purchase of Equator, which it had agreed to buy on August 21, 2013 for $70 million plus up to $80 million more if Equator hit earnings targets. The deal announcement set those terms, and the closing filing shows about $63.1 million paid at closing after adjustments.
• May 28, 2025. A 1-for-8 reverse stock split took effect, so each 8 old shares became 1 new share.
• August 31, 2025. The agreement under which Rithm Capital, a large mortgage investor, bought REO brokerage services only from Altisource expired. Altisource still manages some Rithm homes at Rithm’s choice.

Altisource is relying less on its former parent. Onity’s share of revenue fell from 42% in 2025 to 33% in the first half of 2026, according to Altisource’s second quarter 2026 report. That matters to agents and vendors because a company less tied to one client is less exposed if that client moves its work elsewhere.

How Do Home Buyers Deal with Altisource?

Home buyers usually deal with Altisource through Hubzu, the auction website where it markets the bank-owned homes and foreclosures it manages. Hubzu is run by Altisource Online Auction, Inc., and Altisource also uses it for FHA second chance auctions, where a home that did not sell at the foreclosure sale gets another round of bidding.

Hubzu has grown quickly over the past year. Altisource’s second quarter 2026 earnings release shows 22,300 properties on Hubzu on June 30, 2026, roughly 3 times the 7,300 at the end of 2025. Of those, 19,300 were foreclosure auctions, about 2,600 were bank-owned homes from sellers other than Rithm, and about 400 were Rithm’s own bank-owned homes. For a buyer, that means most homes on Hubzu today are foreclosure auctions, which usually have stricter payment rules and less chance to see inside.

Each Hubzu listing sets its own buyer’s premium, and the seller can reject even the highest bid. The fees, deposits and bidding rules are explained in full in the Hubzu review. Altisource also runs a property search on Equator.com.

How Do Agents and Vendors Work with Altisource?

Agents, brokers and contractors join Altisource through its vendor network, which is free to apply to and covers listing, valuation and field service work. The Altisource vendor network page lists real estate brokers and agents as a vendor type, with work that includes interior and exterior valuations, sale and lease listings and property management.

The process works in 3 steps:

1. Apply. You fill out the vendor application, and Altisource says there is no cost to submit it.
2. Certify. If Altisource has work in your area, its vendor team sends a list of requirements, including licenses, insurance and company details. Every vendor must pass certification before getting work and usually recertifies each year.
3. Perform. Altisource does not guarantee a set number of assignments, and your performance scores directly affect how many orders you receive.

Many servicers that use Altisource also assign listings and broker price opinions through Equator, which offers paid upgrades for agents. Before you pay for any of those, read the profile of Equator for its fees and terms.

Is Altisource a Legitimate Company?

Altisource is a legitimate public company, and its main US unit holds an A+ rating from the Better Business Bureau with a small number of complaints. The BBB profile of Altisource Solutions, Inc. showed accreditation since October 21, 2016 and 8 complaints in the last 3 years when checked on October 16, 2026, all of them answered by the company.

Those 8 complaints were spread evenly over time, with 3 in 2024, 2 in 2025 and 3 in 2026, and they fall into 4 themes that tell buyers and vendors where problems tend to arise:

• Vendor payment disputes. A field vendor said in January 2026 that trip fees and finished work went unpaid for months, and another complained in February 2026 of a missing 1099 tax form and no direct phone number.
• Cash for keys disputes. A 2025 complaint involved a relocation payment offered to occupants to leave a foreclosed home.
• Inspectors at occupied homes. A 2024 complaint said field inspectors trespassed at a home where people still lived.
• Buyer disclosure and closing problems. A 2024 buyer said a condemned property was not disclosed, and a 2025 auction closing went wrong.

For vendors, the payment complaints are the ones to weigh. Keep records of every completed order, and invoice promptly. For buyers, the disclosure complaint is a reminder that bank-owned homes sell as is, so check the property records and permits yourself.

The company’s latest results add some context for anyone deciding whether to work with it. In the second quarter of 2026, Altisource’s service revenue rose 19% to $48.7 million as new clients replaced lost Rithm work, but it still reported a net loss of $0.6 million and held $23.2 million in cash.