Altisource Gives Cryptocurrency Holders a Game-Changing Game
LUXEMBOURG, 05 Oct 2021 (GLOBE NEWSWIRE) – Altisource Portfolio Solutions SA (NASDAQ: ASPS), an integrated service provider and marketplace for the real estate and mortgage industries, today announced that homebuyers and real estate investors can buy properties traded on Equator.com and Hubzu.com by converting cryptocurrency to dollars with ForumPay, a leading cryptocurrency payment and conversion service, which makes it easier for buyers to choose cryptocurrency as a source of funds to purchase real estate. Buyers who choose Premium Title, an affiliate of Altisource, as their title and escrow provider will have the option to purchase property using cryptocurrency. If this option is selected, buyers will be directed to the third-party ForumPay website where their cryptocurrency will be converted at a fixed rate and their funds will be directly wired to Premium Title or to the closing attorney, if applicable.
Until recently, the only possible way to buy real estate with cryptocurrency was to convert the cryptocurrency to a government currency like the US dollar, transfer that money to a personal account, and transfer the funds from the traditional way from a bank to an escrow agency. Through its deal with Altisource, ForumPay offers a simpler process where cryptocurrency is converted at a fixed rate and funds are transferred directly to a Premium Title escrow account, thus eliminating the need for buyers to hold the funds in their own bank account. or place a wire themselves. Cryptocurrency holders can purchase any property on or off MLS, Equator.com, or Hubzu.com by selecting Premium Title as the title and escrow company and submitting their Bitcoin, Litecoin, Dash, Ethereum, or Bitcoin Cash to a ForumPay wallet for conversion.
âWe are delighted to announce our agreement with ForumPay,â said Michael Jansta, SVP Marketing, Altisource Marketplaces. âThis is a revolutionary feature at the forefront of crypto adoption. When the value of cryptocurrencies rises upward, many investors seek to diversify some of these gains into other asset classes. We are very pleased that Equator.com and Hubzu.com are the first markets where homebuyers and real estate investors of all types can use their converted crypto to purchase homes and investment property.
Altisource strives to stay ahead of the curve when it comes to real estate technology and is proud to be the first company to offer buyers the ability to use cryptocurrency to finance their real estate purchases. Altisource remains focused on driving ever increasing advancements in real estate technology.
Altisource has an affiliated business relationship with ForumPay and Premium Title Services (“PTS”). Altisource does not own or control ForumPay.
Equator.com is an online real estate marketplace with a particular focus on single-family rental investment. By aggregating foreclosure sale properties, bank owned properties, short sale properties, auction properties and some active listings on the MLS, Equator.com allows real estate investors to research single family rental opportunities. by a variety of metrics, including estimating cash flow, gross return and net return. Investors also benefit from powerful rental performance calculators pre-populated with real estate and market data for additional investment analysis, due diligence and estimation. Equator is part of the Altisource Portfolio Solutions SA (NASDAQ: ASPS) family of companies. For more information, please visit equator.com.
Hubzu is one of the leading online real estate marketing platforms. Since 2009, Hubzu has facilitated the sale of over 229,000 homes in the United States through its transparent online marketing and auction process. Licensed agents and brokers use the Hubzu platform to market and facilitate property auctions for their clients. Homebuyers benefit from Hubzu’s search tools and automated, transparent auction process to find and buy new homes. Hubzu is part of the AltisourceÂ® Portfolio Solutions SA family of companies. Additional information is available on Hubzu.com, Facebook and LinkedIn
About the Premium titleMT
Premium Title is a national provider of securities and settlement services for the mortgage and real estate industry. Premium Title issues title insurance and performs closings for refinances, reverse mortgages, HELOC transactions, REO and no-default buy and sell transactions, as well as bulk single-family home purchases and refinances. Our customized solutions integrate directly with leading loan origination software, helping to make the closing process more efficient. Premium Title is part of the Altisource Portfolio Solutions SA (NASDAQ: ASPS) family of companies.
Altisource Portfolio Solutions SA (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps meet the demands of the ever-changing markets we serve. Additional information is available at altisource.com.
Source: Altisource Portfolio Solutions SA