Patrick Carroll, Chairman of Nationwide Credit Inc., to Retire

Nationwide Credit Inc. (NCI™), a leading provider of outsourcing and receivables management solutions and a subsidiary of Altisource™ (Nasdaq:ASPS) has announced the retirement of its Chairman, Mr. Patrick Carroll, effective 28 Oct 2011.

Mr. Carroll joined NCI in 2003 as Executive Vice President with responsibility for setting strategic marketing direction, as well as serving as the relationship manager for the company’s top clients. He was promoted to Chief Executive Officer in November, 2004 and subsequently named Chairman in 2008. Pat’s career prior to joining NCI included leadership positions at Outsourcing Solutions, Inc. and Payco American Corp. At Payco, Pat was instrumental in developing the corporation’s first outsourcing relationships in a variety of markets including healthcare, municipal governments and the federal government student loan program, as well as numerous banking and financial services providers.

William Shepro, Altisource CEO, commented, “Pat is a well-respected leader in the collections industry. His long experience in call center collections management, customer service and strategic marketing provided valuable direction in the growth of NCI’s global presence. He also utilized his business and leadership insight to mentor many successful leaders in the company. I would like to thank Pat for his service and wish him all the best for his retirement.”

“We appreciate Pat’s contributions over last year to help prepare the NCI leadership team for this transition. While we will miss Pat, I have full confidence in our management team’s ability to manage this change seamlessly for all our stakeholders,” said Vivek Bhandari, president of NCI.

NCI is a global call center and receivables solutions company that helps clients maximize value through effective call center and collections strategy and strong execution. NCI’s roots go back to 1947 with the founding of American Creditors Bureau in Phoenix, Arizona and was formed by the merger of ACB and Nationwide Credit in 1995, which created one of the largest collection agencies in the nation. With 60 years of experience, strong management and over 1,600 employees operating out multiple domestic and international sites, NCI has the strength to develop and execute sophisticated account management strategies for any client, anywhere.

Altisource Portfolio Solutions S.A. (Nasdaq:ASPS) is a provider of services focused on high-value, technology-enable knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management.