ALTISOURCE PORTFOLIO SOLUTIONS S.A. 8-K

What Happened

• Altisource Portfolio Solutions S.A. (the Company) filed an 8-K on Feb 18, 2026 disclosing three material items: (1) Roland Mueller‑Ineichen, a director and Chair of the Audit Committee, notified the Company on Feb 13, 2026 that he will not stand for re‑election at the 2026 Annual General Meeting and will serve through the end of his current term; he said his decision is not due to any disagreement with the Company. (2) During Q4 2025 the Company secured two Marketplace (Hubzu) customer agreements—one for REO asset management and foreclosure auction services with a new residential loan servicer and one for CWCOT first‑chance foreclosure auction services with an existing customer—contributing to Hubzu inventory growth. As of Feb 15, 2026 Hubzu inventory grew to 13,500 assets from 5,700 as of Sep 30, 2025 (137% increase). (3) On Feb 11, 2026 Altisource Solutions, Inc. (a subsidiary) entered a settlement in National Fair Housing Alliance, et al. v. Deutsche Bank, et al.; the Company recorded a $7.5 million liability in Q4 2025 for settlement and defense costs.

Key Details

• Director: Roland Mueller‑Ineichen will not stand for re‑election; he remains Chair of the Audit Committee through the 2026 Annual General Meeting (notice dated Feb 13, 2026).
• Settlement: $7.5 million liability recorded in Q4 2025 related to the Feb 11, 2026 Settlement Agreement; settlement provides full release and dismissal with prejudice and contains no admission of liability.
• Insurance: Company expects to fund settlement from cash and anticipates possible insurance reimbursement, but one insurer disputes coverage; timing/amount of reimbursement is uncertain.
• Marketplace growth: Hubzu inventory increased to ~13,500 assets (Feb 15, 2026) from 5,700 (Sep 30, 2025), ~137% growth; revenue from these customer wins is expected to grow as referrals convert to sales, subject to market conditions.

Why It Matters

• Governance: The Audit Committee chair’s decision not to seek re‑election is a notable board change; he will continue through his term, giving the Company time for a transition.
• Financial impact: The $7.5M charge was recorded in Q4 2025 and may affect reported results; potential insurance recoveries could mitigate cash outflows but are not guaranteed.
• Business outlook: Rapid Hubzu inventory growth reflects stronger activity in the higher‑margin Marketplace business and could drive revenue upside if referral volumes and conversion rates hold, though timing and amounts remain uncertain.