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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of Revenue by Major Customers by Reporting Segments | Revenue from Ocwen as a percentage of segment and consolidated revenue was as follows:
|  | 2022 |  | 2021
Servicer and Real Estate |  | 53 | % |  | 49 | %
Origination |  | — | % |  | — | %
Corporate and Others |  | — | % |  | — | %
Consolidated revenue |  | 41 | % |  | 31 | %
Disaggregation of revenue | Disaggregation of total revenues by major source was as follows:
(in thousands) |  | Revenue recognized when services are performed or assets are sold |  | Revenue related to technology platforms and professional services |  | Reimbursable expenses revenue |  | Total revenue
For the year ended December 31, 2022 |  | $ | 134,631 |  |  | $ | 10,450 |  |  | $ | 8,039 |  |  | $ | 153,120 |
For the year ended December 31, 2021 |  | 157,855 |  |  | 14,043 |  |  | 6,555 |  |  | 178,453 |
Disaggregation of total revenues by segment and major source was as follows for the years ended December 31:
|  | 2022
(in thousands) |  | Revenue recognized when services are performed or assets are sold |  | Revenue related to technology platforms and professional services |  | Reimbursable expenses revenue |  | Total revenue
Servicer and Real Estate |  | $ | 101,716 |  |  | $ | 10,416 |  |  | $ | 7,529 |  |  | $ | 119,661 |
Originations |  | 32,915 |  |  | 34 |  |  | 510 |  |  | 33,459 |
For the year ended December 31, 2022 |  | $ | 134,631 |  |  | $ | 10,450 |  |  | $ | 8,039 |  |  | $ | 153,120 |
|  | 2021
(in thousands) |  | Revenue recognized when services are performed or assets are sold |  | Revenue related to technology platforms and professional services |  | Reimbursable expenses revenue |  | Total revenue
Servicer and Real Estate |  | $ | 98,610 |  |  | $ | 9,180 |  |  | $ | 5,846 |  |  | $ | 113,636 |
Originations |  | 59,245 |  |  | 42 |  |  | 709 |  |  | 59,996 |
Corporate and Others |  | — |  |  | 4,821 |  |  | — |  |  | 4,821 |
For the year ended December 31, 2021 |  | $ | 157,855 |  |  | $ | 14,043 |  |  | $ | 6,555 |  |  | $ | 178,453 |
Schedule of financial information of segments | Financial information for our segments is as follows:
|  | For the year ended December 31, 2022
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 119,661 |  |  | $ | 33,459 |  |  | $ | — |  |  | $ | 153,120 |
Cost of revenue |  | 81,148 |  |  | 32,052 |  |  | 18,105 |  |  | 131,305 |
Gross profit (loss) |  | 38,513 |  |  | 1,407 |  |  | (18,105) |  |  | 21,815 |
Selling, general and administrative expenses |  | 12,057 |  |  | 8,825 |  |  | 33,873 |  |  | 54,755 |
Loss on sale of businesses |  | — |  |  | — |  |  | 242 |  |  | 242 |
Income (loss) from operations |  | 26,456 |  |  | (7,418) |  |  | (52,220) |  |  | (33,182) |
Total other income (expense), net |  | 4 |  |  | — |  |  | (14,389) |  |  | (14,385) |
Income (loss) before income taxes and non-controlling interests |  | $ | 26,460 |  |  | $ | (7,418) |  |  | $ | (66,609) |  |  | $ | (47,567) |
|  | For the year ended December 31, 2021
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 113,636 |  |  | $ | 59,996 |  |  | $ | 4,821 |  |  | $ | 178,453 |
Cost of revenue |  | 87,427 |  |  | 49,012 |  |  | 34,927 |  |  | 171,366 |
Gross profit (loss) |  | 26,209 |  |  | 10,984 |  |  | (30,106) |  |  | 7,087 |
Selling, general and administrative expenses |  | 12,557 |  |  | 5,702 |  |  | 48,790 |  |  | 67,049 |
Gain on sale of businesses |  | — |  |  | — |  |  | (88,930) |  |  | (88,930) |
Income from operations |  | 13,652 |  |  | 5,282 |  |  | 10,034 |  |  | 28,968 |
Total other income (expense), net |  | 8 |  |  | — |  |  | (13,691) |  |  | (13,683) |
Income (loss) before income taxes and non-controlling interests |  | $ | 13,660 |  |  | $ | 5,282 |  |  | $ | (3,657) |  |  | $ | 15,285 |
Total Assets Total assets for our segments are as follows:
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Total assets: |  |  |  |  |  |  |  |
December 31, 2022 |  | $ | 63,696 |  |  | $ | 53,984 |  |  | $ | 77,325 |  |  | $ | 195,005 |
December 31, 2021 |  | 61,832 |  |  | 59,741 |  |  | 136,235 |  |  | 257,808 |
Summary of changes in goodwill | Changes in goodwill during the years ended December 31, 2022 and 2021 are summarized below:
(in thousands) |  | Total
Balance as of January 1, 2021 |  | $ | 73,849 |
Write-off (1) |  | (17,889) |
Balance as of December 31, 2021 and 2022 |  | $ | 55,960 |
______________________________________ |  |
(1) During 2021, the Company sold its equity interest in Pointillist (See Note 4 for additional information) which had $17.9 million of goodwill attributed to it. The amount of goodwill attributable to Pointillist was based on the relative fair values of Pointillist and the Company excluding Pointillist. Pointillist was determined to be a business within the Company’s existing reporting unit. Changes in goodwill during the years ended December 31, 2022 and 2021 are summarized below:
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Total
Balance as of January 1, 2021 |  | $ | 30,681 |  |  | $ | 25,279 |  |  | $ | 17,889 |  |  | $ | 73,849 |
Write-off (1) |  | — |  |  | — |  |  | (17,889) |  |  | (17,889) |
Balance as of December 31, 2021 and 2022 |  | $ | 30,681 |  |  | $ | 25,279 |  |  | $ | — |  |  | $ | 55,960 |
______________________________________ |  |  |  |  |  |  |  |
(1) During 2021, the Company sold its equity interest in Pointillist (See Note 4 for additional information) which had $17.9 million of goodwill attributed to it. The amount of goodwill attributable to Pointillist was based on the relative fair values of Pointillist and the Company excluding Pointillist. Pointillist was determined to be a business within the Company’s existing reporting unit.

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