Operations

Altisource Portfolio Solutions plans to discontinue its buy-renovate-lease-sell business for single-family homes and sell its short-term inventory in order to cut costs and repay debt.

Banks could shed as much as 20 million square feet of office space over the next five years as they shift many functions to high-tech operations centers in markets with cheaper rents.

Higher costs dampened mortgage lenders' profitability, outweighing near-term gains in origination volume and per-loan revenue during the third quarter, according to the Mortgage Bankers Association's quarterly.