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Press release from PR Newswire

Hubzu? Data Further Validates Consumer Adoption of Online Home Buying and Selling

Thursday, January 24, 2013

Hubzu? Data Further Validates Consumer Adoption of Online Home Buying and Selling08:00 EST Thursday, January 24, 2013LUXEMBOURG, Jan. 24, 2013 /PRNewswire/ -- Hubzu today released new data regarding home sales through its online marketplace. This newly released data further validates the impact of Hubzu's efforts to make the online home buying and selling process easy, efficient and transparent from start to finish. (Logo: http://photos.prnewswire.com/prnh/20120917/PH75166LOGO-b )The Hubzu data validates that buyers and sellers have embraced Hubzu.com, its online real estate marketplace:Homes sold in 2012 received an average of 9.0 bids and offers vs. the national average of 3.1 offers per property.1Home buyers placed in 2012 an average of more than 26,000 monthly bids and offers on properties for sale.More than 63,000 homes have been sold through the Hubzu online marketplace2, with nearly 30,000 closings in the past twelve months.285,000 users have registered and more than 6.3 million pages are viewed monthly."We've reached a tipping point," said Scott Wielar, General Manager of Hubzu. "It's clear that the Hubzu user experience, shortened sales cycle and fully transparent process attract more than just the early adopters. We see a vibrant marketplace evolving, as consumers and brokers take advantage of new technology to do more than just research.  They are buying and selling homes entirely online," Wielar added. "The experience we've developed consistently delivers results that pace well ahead of industry standards. We intend to increase the inventory of homes for sale, increase buyer traffic, continue to roll out functionality enhancements and add new features ? all to ensure an easier, more transparent and faster online buying and selling experience for real estate agents, investors and consumers," concluded Wielar. About Hubzu:Hubzu is an online residential real estate marketplace that makes it easy for consumers, investors and brokers to buy and sell homes. From start to finish, Hubzu provides an entirely online experience ? from searching and bidding to financing and closing. Hubzu is a trademark of Altisource Solutions, S.a r.l. Hubzu is part of the Altisource Portfolio Solutions S.A. family of businesses. Additional information is available at www.hubzu.com or follow us on Facebook and Twitter.About Altisource:Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a global provider of services focused on high-value, technology-enabled, knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. Additional information is available at www.altisource.com.1 Campbell/Inside Mortgage Finance, HousingPulse Tracking Survey (May 2012).  2 Homes sold figures include transactions completed through the GoHoming? online platform.Investor Contact:Michelle D. EstermanChief Financial Officer+352 2469 7950Michelle.Esterman@altisource.lu Press Contact:M. Scott MayDirector of Marketing and eCommerce770-612-7316Scott.May@hubzu.com SOURCE Hubzu