Altisource has set its sights on the real estate services market with two acquisitions that will dramatically grow its business in this area.
Altisource has purchased RentRange and Investability, which will provide the company's customers (including Hubzu and owners.com users) with information on pricing for rental home investments and access to investment property inventory. Financial terms for the two acquisitions were not disclosed.
RentRange provides rental home data, including rent-based valuation services for single- and multi-family properties. Inevitability is an online platform for residential real estate searches that can produce data on the estimated cash flow, capitalization rate, net yield and market value of properties for sale.
"These acquisitions squarely support our real estate and mortgage marketplace strategy and enable us to provide valuable analytics to the home rental, renovation, sale and origination markets," said Altisource chief executive William Shepro in an Oct. 13 news release. "RentRange and Investability, when combined with Altisource's services, offer investors the data and information they need to make well-informed decisions about the homes they're buying, renting and managing."
