customer service representative

sales support representative

vice president

property preservation specialist

mortgage loan originator

Altisource

I’ve watched Altisource go from a good company to a terrible company to work for. Altisource has always had a number of internal issues but, the consistent management change has singlehandedly destroyed employee moral. Altisource is a company that is in so much trouble internally, wrought with serious federal violations, mistreatment of employees and incompetence of senior management. 

When a company hasn’t given raises to employees in three or more years, one would think that it would be important to recognize employee performance at a bare minimum. Not the HR Department, they feel it’s ok to reduce the rating that a manager gives an employee. The HR department doesn’t even have first hand knowledge about that employee to even make that judgement. The actions by the Altisource HR department has done nothing more than make employees miserable and unhappy. Altisource thinks this is the way to run a successful company. 

Employees who once were willing to step up and provide input and assistance to save the existing clients have no interest and without a change in the current course, failure is eminent. Altisource is a company wrought with fraud, quantity takes precedence over quality and the ICP program is a huge reason things are so bad. The entire focus of the employee is to get the money offered by the ICP and pass through everything regardless if it’s correct or meets client requirements and regardless of the consequences to the company. Quality and accuracy are in no means a priority and a major source of the internal fraud issues. I’m not sure the management directing this company have any idea of how bad things are and the catastrophic course the company is on.

If Altisource continues on the current path, this company will fail and be out of business within two years. The continued abuse and fraud against the clients is astounding and lost of their major client would be devastating. The indemnification liability for all the fraud committed against them is frightening. Maybe this letter should be sent to every stockholder before they lose their total investment.

Altisource has lost their way when numbers dictate, employee mistreatment is condoned, and management fails to understand that a quality product is needed, accuracy in bidding, order processing is required to attract and maintain existing and new clients. These items should be the overall drivers. Originally the focus of Altisource was to set the company apart from the competitors by providing a quality product.  Now we now make our competitors look good with the poor preservation of the assets, the cost of the services we provide, and excessive bid and proposal costs that are three fold over the cost of our competitors. The staff reviewing and approving bids, work orders and even the audit team have no idea what they are looking at.

Corruption by internal staff and vendors is troubling to those employees trying to make a difference and save and maintain the clients that are left. How many new clients have been boarded and lost from the incompetence? From where most of the employees stand, the worst you perform in managing clients and staff, the more you are recognized and promoted in the current company culture. This has once again be proven with the loss of two new clients. Several clients already have one foot out the door. Altisource has mishandled several new clients that are longer giving the company inventory and once the existing inventory is sold, they will cease to be a client.

Maybe it’s time to take a good look internally and talk to the employees, find out what is really going on internally before it’s too late. I pray it’s not already too late to chart a course change to save Altisource.

This company promotes itself as a start-up but really isn't. It is a mostly off-shored vendor management company pushing its 10 year old technology and off-shoring outsource model.  What makes it so awful is the work culture.  Senior management doesn't trust the employees so they micro-manage and put so many controls in place you feel like you are in junior high (examples: clocking in, internet controls/blocks, everyone sits in cubes, email filters blocking personal emails, 5-10 compliance training programs each month, no food in your cube, etc.). Also, there is no work - life balance, only work and it has to be face time in the office. You feel chained to your desk for 10 or more hours a day and if you don't put it an extra 10-15 hours a week they will find a reason to let you go.  PTO is given but they will blow up your email and phone the whole time with perceived emergencies.  I am pretty sure Altisource is  breaking the labor laws in every location it has. That is why the terrible culture isn't explained in any employment manual, it is whispered about and enforced quietly. This place reminds me of the movie "OFFICE SPACE" and the CAO and his proteges are all like Lumberg!  If you have another option, trust me when I say that Altisource will burn you out and you are much better off not taking a position here. It looks good on paper but in reality they are lying about the bonus plan and you won't get 1/2 of what they say you will.  Your benefits will cost you triple what they did at your previous employer.  And the equity rights aren't worth a dime and will never pay out.  And all along you will be working more hours than you should be and missing life with your loved ones.

Jekyll during the interview process. Hyde once you begin. 

There are a few dozen companies under the Altisource umbrella and they all operate in a different, but equally ineffective and inefficient manner. The issue is that no two companies or work groups have the same standards. 

Turnover is a major issue. The trickle down from turnover creates waves. First, there is ZERO training when you on-board. It is basically a sink or swim scenario. The lack of training causes inefficiency. Then frustration. Then turnover. The next body is in the seat and the cycle repeats itself. When I started and asked if there was a list of best practices there was literally laughter at the question.

They are constantly having to hire the same positions over and over. At some point, maybe they need to reassess their practices, but the C-level executive are, for the most part, outside the U.S. So, the focus is bottom line only. 

They do provide snacks, but I would much rather have office supplies over swedish fish and trail mix. That's right, office supplies are hard to come by. 

This is a technology company that is years behind on the technology used by the staff. IT support is scarce and lacking at best. They are paranoid about IT security and employees are treated as potential IT threats. It is a very Y2K mentality that doesn't apply to today's workplace. 

Work/life balance is preached, but it is merely lip service. I have heard from many co-workers that they always feel this cloud hovering over that you could be terminated at any moment if you do not put work first.  

Pay is good, but benefits are weak. 401K is a joke. That bonus they told you about....it doesn't exist. Annual raise? NOPE! They pay above scale. Why do you need a raise? There is no annual raise process in place.

My direct manager was awesome. My teammates treated each other like family. 

There is a open floor layout so unfortunately you got to hear management yelling at other team members in the company, talking negative about other people in the company, and I’ve heard several conversations with management being discriminatory in the hiring process.

Benefits were expensive. Company handed out  the first raise in 8 years after I was at my 2 year mark but it didn’t benefit anyone being as they under pay you anyway. Meanwhile it’s common knowledge that senior management was receiving 5 figure bonus checks based off the work is little people were putting in. They lie about bonuses in the interview so don’t negotiate your salary thinking you’ll get these bonuses that don’t exist.

Open floor plan means when one person gets sick so does half the floor. Also means, no privacy for senior management and unfortunately you happen to hear information you shouldn’t be privy to. 

When I was first hired management laid off half the floor and then realized they needed them two weeks later. A week later I found out the monthly & quarterly bonuses the recruiter said I would get were a lie and that no one has ever received one.

On a typical day, you would answer around 100 calls per day collecting payments on past due accounts and setting up payment arrangements for utility customers on their accounts. Was very stressful because customers would sometimes get very irrate and verbally abusive, And some customers would get so vulgar and would personally attack ME when their utilities were disconnected due to non-payment on their accounts. I also did not like having to order shut-offs of their gas or electricity, especially when young children were in the household. While there are some state or federally mandated protections for certain demographics, (i.e.: elderly, infants, and those on breathing machines), there were others that I felt needed protections against having their power or gas shut-off, but I was not empowered to do anything about it, unless they paid their bills. The managers also did not seem to care about employees advancing or were not very understanding when an employee had personal or medical issues that affected the job. The work environment leaves much to be desired and the pay is very low.There is a very high turnover rate for retaining employees. Many do not last a year.

Our Company
Altisource provides services to some of the most respected organizations in their industries, including one of the nation’s largest sub-prime servicers, government agencies and many lenders, servicers, investors, mortgage bankers, credit unions, financial services companies and hedge funds across the country.

We leverage 20 years of servicing and 60 years of debt collection experience to provide services and technologies that span the mortgage lifecycle from origination through REO asset management, in addition to asset recovery and customer relationship management. Our 24 / 7 global operations include more than 6,000 employees.

Our executive team comprises notable and well respected industry veterans who have published numerous articles and research papers, presented at a wide variety of industry conferences and been cited as experts in both trade and consumer publications.

A variety of industry organizations have recognized Altisource’s contributions and featured the company in several annual industry rankings. Visit the Recognition and Awards page for more information on our achievements.

Altisource trades publicly under the ticker ASPS on the NASDAQ Global Select Market.

Ever since the spinoff from Ocwen Financial Corp., Altisource has expanded at unsustainable rates. While there is plenty of room for growth and very little structure, the company's values are very corporate-centered and employees are seen as mere interchangeable parts. Top management is constantly rotating (not unlikely for a SVP to resign within two months) which results in an organization controlled entirely by the C-Level Officers.

Because of the constant turnover, there is great growth potential for individuals willing to compromise and conform to a highly rational egotistical organization. There is a general lack of commitment to the organization from the employees, which seems to be a reflection of the same from the company to the employees.

One of the best aspects of working for Altisource is the lack of organization. The positive side of this aspect is that it allows creative individuals to dive into process improvement projects.

A few pros and cons for Altisource

Pros:
- Great opportunity to learn for someone with a high drive and willingness to step out of their swim lane and take on out of scope projects
- Good compensation depending on role and department
- Opportunity for merit based advancement for those willing to put in the time and effort towards serving business unit goals

Cons: 
- Executive leadership team feels disingenuous during town halls.  Town halls feel rehearsed and delivered in a very robotic and corporate speak manner. Executive leadership seems clearly out of touch with their employees
- Lack of clarity towards overall organizational goals.  The vision the organization puts forth is not clear and constantly changing.
- Questionable decisions by executive leadership in expansion of business and product offerings.  There have been several Line of Business selloffs or outright closings.  Executive leadership spread resources too thin over the past few years and as a result the company is selling off/closing or consolidating departments and product lines.

My typical work day was beginning work at 8 am or before, checking emails, assigning job board tickets to myself and working with remote customers or team members on projects. I learned a great deal about computing and how a Desktop support specialist works. My immediate manager was a terrific person, but upper management was terrible based on not willing to provide annual compensation packages or willing to replaced old equipment. The toughest parts of the role I filled was working with users in remote countries that do not speak English well and waiting for customers and end users to respond to emails or phone calls that were placed about tickets I was working on.I also would need to be available at anytime to come in after work hours to assist remote teams in India to fix problems or upgrade hardware. The most enjoyable aspect of the job was working with appreciative customers when you would resolve the computer problem and they were once again able to get back to work, smiling faces always make a poor day better.

Altisource offers competitive pay, but is a nightmare to work for. management is overseas so a lot of the processes are outdated or do not work in american business. there infrastructure is horrendous and again outdated by at least 5 years. other department are in no rush to get critical item accomplished and when things fail it becomes a blame game instead an initiative to resolve the issue.

The programs they developed are a joke and there are no real fixes for issue other than constantly restarting the programs. user are constantly frustrated and because the position require you to be on floor with the customer you take all the wrath for the issue.

management is unsympathetic to the infrastructure issues that cause all the other issues with the programs and day to day business

the culture in bad as again the management is overseas and do not see an issue or do not clearly understand the day to day business implication their action cause

Top Job Titles	Average Salary
Customer service representative 2 salaries reported	$15.00 per hour
Sales support representative 4 salaries reported	$14.42 per hour
Vice president 3 salaries reported	$193,333 per year
Property preservation specialist 3 salaries reported	$13.43 per hour
Mortgage loan originator 3 salaries reported	$130,000 per year

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