On December 21, 2012, Altisource Residential Corporation's spin-off from Altisource Portfolio Solutions S.A. was completed, and shares of the company began regular trading on the New York Stock Exchange under the symbol ‘RESI' on December 24, 2012. Stephen H. Gray and John P. Barrack resigned as directors of the company. On December 21, 2012 the following actions were taken with respect to the appointment of certain executive officers of the company: Ashish Pandey, age 37, was appointed as Chief Executive Officer of the company.

Prior to joining the company, Mr. Pandey served as the Chief Executive Officer of Correspondent One, an affiliate of Altisource. Rachel M. Ridley, age 34, was appointed Chief Financial Officer of the company. Prior to joining the company, Ms. Ridley served as Senior Manager in Assurance Services, Asset Management for PricewaterhouseCoopers LLC, since 2008 and various positions within PwC from 2000 to 2008.  Stephen H. Gray, age 42, was appointed General Counsel and Secretary of the company.

Prior to joining the company, Mr. Gray was General Counsel and Secretary of LaBranche & Co. Inc. from May 2004 to December 2011, and was a consulting attorney for The Nielsen Company, during 2012. Election of Directors: Michael A. Eruzione.

Mr. Eruzione was appointed to the Board of Directors on December 21, 2012.  Mr. Eruzione was also appointed to the Nomination/Governance Committee of the Board of Directors. Mr. Eruzione represents major corporations as a spokesperson and as a motivational speaker and has served as the Director of Development for Athletics at Boston University in Boston, Massachusetts since 1995.  He previously served as the Director of Special Programs for Alumni Relations and Development. Robert J. Fitzpatrick. Mr. Fitzpatrick was appointed to the Board of Directors on December 21, 2012. Mr. Fitzpatrick was also appointed to the Audit Committee and Compensation Committee of the Board of Directors. Mr. Fitzpatrick has over 25 years of experience in real estate banking and structured finance and is one of the founding members of Institutional Mortgage Capital Canada, Inc. established in 2009 as an investment. James H. Mullen, Jr. Dr. Mullen was appointed to the Board of Directors on December 21, 2012.  Dr. Mullen was also appointed to the Audit Committee, Compensation Committee and Nomination/Governance Committee of the Board of Directors. Dr. Mullen has over 20 years of experience in leadership roles in higher education and has served as President of Allegheny College in Meadville, Pennsylvania since 2008.

Dr. Mullen also serves on the Board of Directors and Councils of several universities including the American Council on Education, the Association of Independent Colleges & Universities in Pennsylvania, the Pennsylvania Economy League of Southwestern Pennsylvania, the Council of Independent Colleges and the National Association of Independent Colleges and Universities, Tax Policy Committee. David B. Reiner. Mr. Reiner was appointed to the Board of Directors on December 21, 2012. Mr. Reiner was also appointed to the Audit Committee, Compensation Committee and Nomination/Governance Committee of the Board of Directors. Mr. Reiner is currently a Director with Regional Real Estate Investment Corporation.