Altisource Asset Management ($AAMC) Update: New Business Up & Running, Share Repurchases, and Summary Judgement Arguments
Whereas these companies originate and keep the loans on their books, Altisource originates the loans and then sells them, collecting income from the sale and interest rate share.
— Jeff Moore (@ragnarisapirate) November 21, 2022 In terms of yearly origination volumes, Jason Kopcak, AAMC's CEO, has stated that the company will be able to do more than $600 million in loan originations.
SIGNIFICANT Share Repurchases: Another essential item is that the company repurchased 286,783 shares of common stock from Putnam (a considerable shareholder previously that sued and SETTLED with the company over the same preferred stock that Luxor is in litigation with AAMC over).