On April 20, 2017, The Motley Fool published an article stating that Altisource was formerly known as Ocwen Solutions, a wholly-owned subsidiary of Ocwen. In 2009, the Company was spun off by Ocwen. Currently, Altisource’s largest client is Ocwen. Lastly, Altisource revealed earlier this year that the CFPB was investigating its relationship with Ocwen.
On this news, the Company’s share price fell sharply from $43.88 per share on April 19, 2017 to a closing price of $25.44 on April 20, 2017—a $18.44 or a 42.02% drop.
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