Altisource Asset Management to List on NYSE MKT

Altisource Asset Management Corp. has been approved by the New York Stock Exchange to be listed on the NYSE MKT board (the former Amex). Currently the stock trades on the over-the-counter market.

Ashish Pandey, president of the Frederiksted, U.S. Virgin Islands-based company, said the change should result in increased trading volume and liquidity for the stock.

Altisource Asset Management is a portfolio management company providing services to investment vehicles which own real estate assets.

Its initial client is Altisource Residential Corp., a real estate investment trust which owns single-family rental properties it obtains through the purchase of subperforming and nonperforming mortgages as well as foreclosure sales.