Altisource Asset Management Corporation Announces a New Strategic Direction
CHRISTIANSTED, U.S. Virgin Islands, March 18, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (NYSEAM: AAMC) (“AAMC” or the “Company”) announced today its new strategy which includes the creation of an Alternative Lending Group, its appointment of Mr. Kopcak and its securing of an opportunity in the crypto-enabled ATM space.
- AAMC intends to stay agile but will initially acquire alternative mortgage loans and anticipates commencing originations in 2022.
- Mr. Kopcak, 50, expects to join the firm in May 2022, following the end of his employment with Morgan Stanley.
- The Board and our senior management, with the guidance of our advisors, focused on businesses that built on AAMCs real estate expertise and asset management.
- Prior to December 31, 2020, AAMC had historically been an asset management company that provided portfolio management and corporate governance services to investment vehicles.