Altisource Asset Management (AAMCF) 10-K 1 Mar 18 2017 FY Annual report Financial data

Document and entity information

Document and entity information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Feb. 19, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity registrant name	Altisource Asset Management Corporation
Entity central index key	1,555,074
Current fiscal year end date	--12-31
Entity filer category	Non-accelerated Filer
Document type	10-K
Document period end date	Dec. 31, 2017
Document fiscal year focus	2,017
Document fiscal period focus	FY
Amendment flag	false
Entity common stock, shares outstanding		1,601,835
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity public float			$ 44.7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 33,349	$ 40,584
Short-term investments	625	0
Available-for-sale securities (Front Yard common stock)	19,266	17,934
Receivable from Front Yard	4,151	5,266
Prepaid expenses and other assets	1,022	1,964
Total assets	58,413	65,748
Other non-current assets	1,974	0
Total assets	60,387	65,748
Current liabilities:
Accrued salaries and employee benefits	5,651	4,100
Accounts payable and accrued liabilities	2,085	4,587
Total liabilities	7,736	8,687
Commitments and contingencies (Note 4)	0	0
Redeemable preferred stock:
Series A preferred stock, $0.01 par value, 250,000 shares issued and outstanding as of December 31, 2017 and 2016; redemption value $250,000	249,546	249,340
Stockholders' deficit:
Common stock, $.01 par value, 5,000,000 authorized shares; 2,815,122 and 1,599,210 shares issued and outstanding, respectively, as of December 31, 2017 and 2,637,629 and 1,513,912 shares issued and outstanding, respectively, as of December 31, 2016	28	26
Additional paid-in capital	37,765	30,696
Retained earnings	38,970	46,145
Accumulated other comprehensive loss	(1,330)	(2,662)
Treasury stock, at cost, 1,215,912 and 1,123,717 shares as of December 31, 2017 and 2016, respectively	(272,328)	(266,484)
Total stockholders' deficit	(196,895)	(192,279)
Total liabilities and equity	$ 60,387	$ 65,748

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares issued	250,000	250,000
Preferred stock, shares outstanding	250,000	250,000
Preferred stock, redemption amount	$ 250,000,000	$ 250,000,000
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	2,815,122	2,637,629
Common stock, shares outstanding	1,599,210	1,513,912
Treasury stock, shares	1,215,912	1,123,717

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Management fees from Front Yard	$ 16,010	$ 17,334	$ 0
Conversion fees from Front Yard	1,291	1,841	0
Expense reimbursements from Front Yard	859	816	0
Rental revenues	0	0	13,233
Change in unrealized gain on mortgage loans	0	0	88,829
Net realized gain on sales of mortgage loans	0	0	94,493
Net realized gain on sales of real estate	0	0	50,932
Interest income	0	0	612
Total revenues	18,160	19,991	248,099
Expenses:
Salaries and employee benefits	19,393	17,369	16,294
Legal and professional fees	2,794	2,173	11,311
Residential property operating expenses	0	0	66,266
Real estate depreciation and amortization	0	0	7,472
Selling costs and impairment	0	0	72,230
Mortgage loan servicing costs	0	0	62,346
Interest expense	0	0	53,131
General and administrative	3,320	4,772	7,583
Total expenses	25,507	24,314	296,633
Other income:
Dividend income on Front Yard common stock	975	1,023	0
Other income	111	71	0
Total other income	1,086	1,094	0
Loss before income taxes	(6,261)	(3,229)	(48,534)
Income tax expense	708	1,706	354
Net loss	(6,969)	(4,935)	(48,888)
Net loss attributable to non-controlling interest in consolidated affiliate	0	0	45,598
Net loss attributable to stockholders	(6,969)	(4,935)	(3,290)
Amortization of preferred stock issuance costs	(206)	(207)	(206)
Net loss attributable to common stockholders	$ (7,175)	$ (5,142)	$ (3,496)
Loss per share of common stock – basic:
Loss per basic share (usd per share)	$ (4.57)	$ (2.93)	$ (1.59)
Weighted average common stock outstanding – basic (in shares)	1,570,428	1,752,302	2,202,815
Loss per share of common stock – diluted:
Loss per diluted share (usd per share)	$ (4.57)	$ (2.93)	$ (1.59)
Weighted average common stock outstanding – diluted (in shares)	1,570,428	1,752,302	2,202,815

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net (loss) income attributable to stockholders	$ (6,969)	$ (4,935)	$ (3,290)
Other comprehensive income (loss):
Change in unrealized loss on available-for-sale securities (Front Yard common stock)	1,332	(1,681)	0
Total other comprehensive income (loss)	1,332	(1,681)	0
Comprehensive loss	$ (5,637)	$ (6,616)	$ (3,290)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Non-controlling Interest in Consolidated Affiliate
Beginning balance (in shares) at Dec. 31, 2014		2,452,101
Beginning balance at Dec. 31, 2014	$ 1,149,794	$ 25	$ 14,152	$ 54,174		$ (245,468)	$ 1,326,911
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		104,727
Common shares issued under share-based compensation plans, net of shares withheld for employee taxes	73	$ 1	72
Treasury shares repurchased	(9,516)					(9,516)
Capital contribution from non-controlling interest	111						111
Share-based compensation	7,049		6,865				184
Distribution from non-controlling interest	(103,649)						(103,649)
Repurchase of non-controlling interest in subsidiaries by affiliate	(24,983)						(24,983)
Acquisition of non-controlling interest in affiliate	(5,007)		2,330				(7,337)
Amortization of preferred stock issuance costs	(206)			(206)
Net loss attributable to stockholders	(48,888)			(3,290)			(45,598)
Ending balance (in shares) at Dec. 31, 2015		2,556,828
Ending balance at Dec. 31, 2015	964,778	$ 26	23,419	50,678		(254,984)	1,145,639
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU 2015-02 (Note 1)	(1,148,341)	0	(2,330)	609	$ (981)	0	(1,145,639)
Adjusted balance	(183,563)	$ 26	21,089	51,287	(981)	(254,984)	0
Common shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		80,801
Common shares issued under share-based compensation plans, net of shares withheld for employee taxes	22	$ 0	22
Treasury shares repurchased	(11,500)					(11,500)
Share-based compensation	9,585		9,585				0
Amortization of preferred stock issuance costs	(207)			(207)
Change in unrealized loss on available-for-sale securities (Front Yard common stock)	(1,681)				(1,681)
Net loss attributable to stockholders	$ (4,935)			(4,935)			0
Ending balance (in shares) at Dec. 31, 2016	1,513,912	2,637,629
Ending balance at Dec. 31, 2016	$ (192,279)	$ 26	30,696	46,145	(2,662)	(266,484)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		177,493
Common shares issued under share-based compensation plans, net of shares withheld for employee taxes	85	$ 2	83
Treasury shares repurchased	(5,844)					(5,844)
Share-based compensation	6,986		6,986				0
Amortization of preferred stock issuance costs	(206)			(206)
Change in unrealized loss on available-for-sale securities (Front Yard common stock)	1,332				1,332
Net loss attributable to stockholders	$ (6,969)			(6,969)			0
Ending balance (in shares) at Dec. 31, 2017	1,599,210	2,815,122
Ending balance at Dec. 31, 2017	$ (196,895)	$ 28	$ 37,765	$ 38,970	$ (1,330)	$ (272,328)	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities:
Net loss attributable to stockholders	$ (6,969)	$ (4,935)	$ (48,888)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in unrealized gain on mortgage loans	0	0	(88,829)
Net realized gain on sales of mortgage loans	0	0	(94,493)
Net realized gain on sales of real estate	0	0	(50,932)
Real estate depreciation and amortization	302	0	7,472
Selling costs and impairment	0	0	72,230
Accretion of interest on re-performing mortgage loans	0	0	(551)
Share-based compensation	6,986	9,585	6,865
Amortization of deferred financing costs	0	0	7,348
Loss on retirement of leasehold improvements	0	0	212
Changes in operating assets and liabilities:
Accounts receivable, net	0	123	(21,919)
Related party receivables	1,115	(5,266)	17,491
Prepaid expenses and other assets	942	68	(1,023)
Deferred leasing costs	0	0	(88)
Other non-current assets	(1,060)	0	0
Accrued salaries and employee benefits	1,551	94	2,754
Accounts payable and accrued liabilities	(2,502)	2,319	15,283
Related party payables	0	(2,180)	(6,169)
Net cash provided by (used in) operating activities	365	(192)	(183,237)
Investing activities:
Decrease in cash, cash equivalents and restricted cash due to deconsolidation of Front Yard (Note 1)	0	(137,268)	0
Purchases of Front Yard common stock	0	(15,588)	0
Investment in short-term investments	(625)	0	0
Investment in property, plant and equipment	(1,216)	0	0
Investment in real estate	0	0	(119,977)
Investment in renovations	0	0	(27,410)
Investment in affiliate	0	0	(5,007)
Real estate tax advances	0	0	(29,862)
Mortgage loan dispositions	0	0	468,111
Mortgage loan payments	0	0	26,206
Disposition of real estate	0	0	154,880
Net cash (used in) provided by investing activities	(1,841)	(152,856)	466,941
Financing activities:
Issuance of common stock, including stock option exercises	650	593	833
Repurchase of common stock	(5,844)	(11,500)	(9,516)
Payment of tax withholdings on exercise of stock options	(565)	(571)	(760)
Capital contribution from non-controlling interest	0	0	111
Distribution to non-controlling interest	0	0	(98,123)
Repurchase of non-controlling interest in subsidiaries by affiliate	0	0	(24,983)
Proceeds from issuance of other secured borrowings	0	0	220,931
Repayments of other secured borrowings	0	0	(39,832)
Proceeds from repurchase and loan agreements	0	0	347,077
Repayments of repurchase and loan agreements	0	0	(594,564)
Payment of deferred financing costs	0	0	(9,832)
Net cash used in financing activities	(5,759)	(11,478)	(208,658)
Net change in cash, cash equivalents and restricted cash	(7,235)	(164,526)	75,046
Cash, cash equivalents and restricted cash, beginning of the period	40,584	205,110	130,064
Cash, cash equivalents and restricted cash, end of the period	33,349	40,584	205,110
Supplemental disclosure of cash flow information:
Cash paid for interest	0	0	46,559
Income taxes paid	820	132	265
Transfer of mortgage loans to real estate owned, net	0	0	470,221
Change in accrued capital expenditures	0	0	(1,388)
Changes in receivables from mortgage loan dispositions, payments and real estate tax advances, net	0	0	(592)
Changes in receivables from real estate owned dispositions	0	0	15,252
Unpaid distribution to non-controlling interest	0	0	5,526
Decrease in noncontrolling interest due to deconsolidation of Front Yard (Note 1)	0	(1,145,639)	0
Decrease in repurchase and loan agreements and other secured borrowings due to deconsolidation of Front Yard (Note 1)	0	(1,265,968)	0
Decrease in real estate assets and mortgage loans due to deconsolidation of Front Yard (Note 1)	$ 0	$ 2,264,296	$ 0

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation Altisource Asset Management Corporation (“we,” “our,” “us,” or the “Company”) was incorporated in the U.S. Virgin Islands (“USVI”) on March 15, 2012 (our “inception”) and commenced operations on December 21, 2012. Our primary business is to provide asset management and certain corporate governance services to institutional investors. We have also been a registered investment adviser under section 203(c) of the Investment Advisers Act of 1940 since October 2013. Our primary client currently is Front Yard Residential Corporation, formerly Altisource Residential Corporation (“Front Yard”), a public real estate investment trust (“REIT”) focused on acquiring and managing quality, affordable single-family rental (“SFR”) properties throughout the United States. All of our standalone revenue for all periods presented was generated through our asset management agreement with Front Yard. On March 31, 2015, we entered into a new asset management agreement with Front Yard (the “AMA”), under which we are the exclusive asset manager for Front Yard for an initial term of 15 years from April 1, 2015, with two potential five -year extensions. The AMA provides for a fee structure in which we are entitled to a base management fee, an incentive management fee and a conversion fee for mortgage loans and real estate owned (“REO”) properties that become rental properties during each quarter. Accordingly, our operating results continue to be highly dependent on Front Yard's operating results. See Note 5 for additional details of the AMA. Since we are heavily reliant on revenues earned from Front Yard, investors may obtain additional information about Front Yard in its Securities and Exchange Commission (“SEC”) filings, including, without limitation, Front Yard’s financial statements and other important disclosures therein, available at http://www.sec.gov and http://ir.frontyardresidential.com/financial-information. Front Yard has property management contracts with two separate third-party service providers to provide to Front Yard, among other things, leasing and lease management, operations, maintenance, repair, property management and property disposition services in respect of its SFR and REO portfolios. Also, Front Yard also has servicing agreements with two separate mortgage servicers for the remaining mortgage loans in its portfolio. If the service providers under these agreements are unable to perform the services described under these agreements at the level and/or the cost that we anticipate, alternate service providers may not be readily available on favorable terms, or at all, which could have a material adverse effect on Front Yard and us. Altisource Portfolio Solutions S.A. (“ASPS”), one of Front Yard's property management service providers, Ocwen Financial Corporation (“Ocwen”), a former mortgage servicer, were related parties until January 16, 2015 (see Note 5 ). Additionally, our wholly owned subsidiary, NewSource Reinsurance Company Ltd. (“NewSource”), is a title insurance and reinsurance company licensed with the Bermuda Monetary Authority. NewSource commenced reinsurance activities during the second quarter of 2014. In December 2014, NewSource determined that the economics of the initial business did not warrant the continuation of its initial reinsurance quota share agreement with an unrelated third party. NewSource therefore transferred all of the risk of claims and future losses underwritten to an unrelated third party, and its reinsurance and insurance business has been dormant since that time. Basis of presentation and use of estimates The accompanying audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Effective January 1, 2016, the accompanying consolidated financial statements include the accounts of AAMC and its consolidated subsidiaries, which are comprised of voting interest entities in which we are determined to have a controlling financial interest under Accounting Standards Codification (“ASC”) 810, as amended by Accounting Standards Update (“ASU”) 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis (“ASU 2015-02”). Our voting interest entities consist entirely of our wholly owned subsidiaries. We also consider variable interest entities (“VIEs”) for consolidation where we are the primary beneficiary. With the adoption of the ASU 2015-02 effective January 1, 2016, we no longer consolidate Front Yard as a VIE, and we currently do not have any other potential VIEs. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Deconsolidation of Front Yard Effective January 1, 2016, we adopted the provisions of ASU 2015-02, and we performed an analysis of our relationship with Front Yard pursuant to the amended guidance. We determined that the compensation we receive in return for our services to Front Yard is commensurate with the level of effort required to perform such services and the arrangement includes customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length; therefore, Front Yard is no longer a VIE under the amended guidance. As a result, effective January 1, 2016, we no longer consolidate the accounts of Front Yard. We applied ASU 2015-02 using the modified retrospective approach, which resulted in a cumulative-effect adjustment to equity on January 1, 2016. As a result, periods prior to January 1, 2016 were not impacted. The adoption effectively removed those balances previously disclosed that related to Front Yard from our consolidated financial statements and eliminated the amounts previously reported as non-controlling interests in Front Yard as a consolidated affiliate. Subsequent to adoption, our consolidated revenues consist of management fees and expense reimbursements received from Front Yard under the AMA, and our consolidated expenses consist of salaries and employee benefits, legal and professional fees and general and administrative expenses. Preferred stock Issuance of Series A convertible preferred stock in 2014 private placement During the first quarter of 2014, we issued 250,000 shares of convertible preferred stock for $250.0 million (“Series A Preferred Stock”). All of the outstanding shares of Series A Preferred Stock are redeemable by us in March 2020, the sixth anniversary of the date of issuance, and every five years thereafter. On these same redemption dates, each holder of Series A Preferred Stock may potentially cause us to redeem all the shares of Series A Preferred Stock held by such holder at a redemption price equal to $1,000 per share from funds legally available therefor. Accordingly, we classify these shares as mezzanine equity, outside of permanent stockholders' equity. The holders of Series A Preferred Stock will not be entitled to receive dividends with respect to the Series A Preferred Stock. The shares of Series A Preferred Stock are convertible into shares of our common stock at a conversion price of $1,250 per share (or an exchange rate of 0.8 shares of common stock for each share of Series A Preferred Stock), subject to certain anti-dilution adjustments. Upon a change of control or upon a liquidation, dissolution or winding up of the Company, holders of the Series A Preferred Stock will be entitled to receive an amount in cash per Series A Preferred Stock equal to the greater of: (i) $1,000 plus the aggregate amount of cash dividends paid on the number of shares of common stock into which such share of Series A Preferred Stock was convertible on each ex-dividend date for such dividends; and (ii) the number of shares of common stock into which the Series A Preferred Stock is then convertible multiplied by the then current market price of the common stock. The Series A Preferred Stock confers no voting rights to holders, except with respect to matters that materially and adversely affect the voting powers, rights or preferences of the Series A Preferred Stock or as otherwise required by applicable law. With respect to the distribution of assets upon the liquidation, dissolution or winding up of the Company, the Series A Preferred Stock ranks senior to our common stock and on parity with all other classes of preferred stock that may be issued by us in the future. Issuance of preferred stock under the 2016 Employee Preferred Stock Plan On May 26, 2016, the 2016 Employee Preferred Stock Plan (the “Employee Preferred Stock Plan”) was approved by our stockholders. Pursuant to the Employee Preferred Stock Plan, the Company may grant one or more series of non-voting preferred stock, par value $0.01 per share, in the Company to induce certain employees to become employed and remain employees of the Company in the USVI, and any of its future USVI subsidiaries, to encourage ownership of shares in the Company by such USVI employees and to provide additional incentives for such employees to promote the success of the Company’s business. Pursuant to our stockholder approval of the Employee Preferred Stock Plan, on December 29, 2016, the Company authorized 14 additional series of preferred stock of the Company, consisting of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock, Series J Preferred Stock, Series K Preferred Stock, Series L Preferred Stock, Series M Preferred Stock, Series N Preferred Stock and Series O Preferred Stock, and each series shall consist of up to an aggregate of 1,000 shares. On January 5, 2017, the Company issued an aggregate of 900 shares of preferred stock to its USVI employees. These shares of preferred stock are mandatorily redeemable by us in the event of the holder's termination of service with the Company for any reason; therefore, at December 31, 2017 , we included $9,000 related to these shares within accounts payable and accrued liabilities in our consolidated balance sheet. In February 2018, our Board of Directors declared and paid an aggregate of $0.9 million of dividends on the preferred stock issued under the Employee Preferred Stock Plan. In March 2017, our Board of Directors declared and paid an aggregate of $0.6 million of dividends on the preferred stock issued under the Employee Preferred Stock Plan. Such dividends are included in salaries and employee benefits in our consolidated statement of operations. Recently issued accounting standards Adoption of recent accounting standards In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, in an effort to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This ASU is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted. We adopted the provisions of ASU 2017-01 effective January 1, 2017. This adoption had no significant effect on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The amendments in ASU 2016-18 require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The amendments in ASU 2016-18 should be applied on a retrospective transition basis. Early adoption is permitted, including adoption during an interim period. Effective January 1, 2017, the Company has adopted the provisions of ASU 2016-18. As a result of this adoption, the Company has retrospectively included $20.6 million of cash flows related to the decrease in restricted cash upon the deconsolidation of Front Yard in its investing activities on the cash flow statement for the year ended December 31, 2016. In addition, the Company has retrospectively reclassified $7.3 million of cash flows related to changes in restricted cash from investing activities on the cash flow statement to the cash, cash equivalents and restricted cash balances for the year ended December 31, 2015. Restricted cash balances were attributable to Front Yard and included amounts related to tenant deposits, mortgage loan escrows and reserves for debt service established pursuant to Front Yard's repurchase and loan agreements and other secured borrowings. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718). ASU 2016-09 makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. This ASU became effective for interim and annual reporting periods beginning after December 15, 2016. Our adoption of this amendment on January 1, 2017 did not have a significant effect on our consolidated financial statements. Recently issued accounting standards not yet adopted In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718). The amendments in ASU 2017-09 provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This ASU is effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. Early adoption is permitted, including adoption during an interim period. We do not expect the adoption of this standard to have a material impact on our consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under Topic 230. The amendments in ASU 2016-15 are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, including adoption during an interim period. The amendments in ASU 2016-15 should be applied on a modified retrospective transition basis. We do not expect this amendment to have a significant effect on our consolidated financial statements. In February 2016, FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position and also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. This ASU is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. Early adoption is permitted. The amendments in ASU 2016-02 should be applied on a modified retrospective transition basis, and a number of practical expedients may apply. These practical expedients relate to the identification and classification of leases that commenced before the effective date, initial direct costs for leases that commenced before the effective date and the ability to use hindsight in evaluating lessee options to extend or terminate a lease or to purchase the underlying asset. We are currently evaluating the impact of this ASU on our consolidated financial statements; however, upon adoption, we expect to recognize a right-of-use asset and a related lease liability on our consolidated balance sheet for the leases we currently classify as operating leases. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendments in this ASU are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. Upon our adoption of ASU 2016-01, we expect to recognize a cumulative-effect adjustment to our balance sheet to reclassify our accumulated other comprehensive loss of $1.3 million to retained earnings, and we will thereafter record changes in the fair value of our available-for-sale securities through profit and loss. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which effectively delayed the adoption date of ASU 2014-09 by one year. In 2016 and 2017, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. We have substantively completed our analysis of the impact of this standard. Due to the nature of the management fees we earn under the AMA, we do not expect this amendment to have a significant effect on our consolidated financial statements. We anticipate applying this amendment using the modified retrospective method.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Available-for-sale securities The securities we hold consist solely of the common stock of Front Yard. These securities are classified as available for sale and are reported at fair value. We adjust our investment in Front Yard common stock to fair value based on unadjusted quoted market prices in active markets. Changes in the fair value are recorded in accumulated other comprehensive income (loss) as changes in unrealized gain (loss) on available-for-sale securities. Our ability to sell these securities, or the price ultimately realized for these securities, depends upon the demand in the market and potential restrictions on the timing at which we may be able to sell the Front Yard common stock when desired. Cash equivalents We consider highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Certain account balances exceed FDIC insurance coverage and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. To mitigate this risk, we maintain our cash and cash equivalents at large national or international banking institutions. Consolidations The consolidated financial statements include the accounts of AAMC and its consolidated subsidiaries, which include the voting interest entities in which we are determined to have a controlling financial interest. Our voting interest entities consist entirely of our wholly owned subsidiaries. We also consider VIEs for consolidation where we are the primary beneficiary. We had no VIEs or potential VIEs as of and for the year ended December 31, 2017 . For legal entities evaluated for consolidation, we determine whether the interests that we hold and fees paid to us qualify as a variable interest in the entity. This includes an evaluation of fees paid to us where we act as a decision maker or service provider to the entity being evaluated. Fees received by us are not variable interests if (i) the fees are compensation for services provided and are commensurate with the level of effort required to provide those services, (ii) the service arrangement includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length and (iii) our other economic interests in the VIE held directly and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable, would not absorb more than an insignificant amount of the entity’s losses or receive more than an insignificant amount of the entity’s benefits. For those entities in which we have a variable interest, we perform an analysis to first determine whether the entity is a VIE. This determination includes considering whether the entity’s equity investment at risk is sufficient, whether the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity's activities either involve or are conducted on behalf of that investor and its related parties and whether the entity’s at-risk equity holders have the characteristics of a controlling financial interest. A VIE must be consolidated by its primary beneficiary. Performance of such analysis requires the exercise of judgment. The primary beneficiary of a VIE is generally defined as the party who has a controlling financial interest in the VIE. We are generally deemed to have a controlling financial interest in a VIE if we have (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. For purposes of evaluating (ii) above, fees paid to us are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. We also evaluate our economic interests in the VIE held directly by us and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable. The primary beneficiary evaluation is generally performed qualitatively on the basis of all facts and circumstances. However, quantitative information may also be considered in the analysis, as appropriate. These analyses require judgment. Changes in the economic interests (either by us, our related parties or third parties) or amendments to the governing documents of the VIE could affect an entity's status as a VIE or the determination of the primary beneficiary. The primary beneficiary evaluation is updated periodically. For voting interest entities, we shall consolidate the entity if we have a controlling financial interest. We have a controlling financial interest in a voting interest entity if (i) for legal entities other than limited partnerships, we own a majority voting interest in the entity or, for limited partnerships and similar entities, we own a majority of the entity’s kick-out rights through voting limited partnership interests and (ii) non-controlling shareholders or partners do not hold substantive participating rights and no other conditions exist that would indicate that we do not control the entity. Earnings per share Basic earnings per share is computed by dividing net income or loss attributable to stockholders, less amortization of preferred stock issuance costs, by the weighted average common stock outstanding during the period. Diluted earnings per share is computed by dividing net income or loss attributable to stockholders by the weighted average common stock outstanding for the period plus the dilutive effect of (i) stock options and restricted stock outstanding using the treasury stock method and (ii) Series A Preferred Stock using the if-converted method. Weighted average common stock outstanding - basic excludes the impact of unvested restricted stock since dividends paid on such restricted stock are non-participating. Fees under the asset management agreement In accordance with the asset management agreement, we receive compensation from Front Yard, a related party, on a quarterly basis for our efforts in the management of Front Yard's business. We recognize these fees in the fiscal quarter in which they are earned by us. Refer to Note 5 for details of the fee structure under the asset management agreement. Prior to our deconsolidation of Front Yard effective January 1, 2016, our revenue and Front Yard's corresponding expense related to these fees were eliminated in consolidation. Fair value of financial instruments We designate fair value measurements into three levels based on the lowest level of substantive input used to make the fair value measurement. Those levels are as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Income taxes Income taxes are provided for using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which management expects those temporary differences to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period in which the change occurs. Subject to our judgment, we reduce a deferred tax asset by a valuation allowance if it is “more likely than not” that some or the entire deferred tax asset will not be realized. Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required in evaluating tax positions, and we recognize tax benefits only if it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authority. For all temporary differences, we have considered the potential future sources of taxable income against which they may be realized. In so doing, we have taken into account temporary differences that we expect to reverse in future years and those where it is unlikely. Where it is more likely than not that there will not be potential future taxable income to offset a temporary difference, a valuation allowance has been recorded. Other non-current assets Other non-current assets includes leasehold improvements; furniture, fixtures and equipment; deferred tax assets and miscellaneous intangibles assets. The cost basis of fixed assets is depreciated using the straight-line method over an estimated useful life of three to five years based on the nature of the components. Share-based compensation For restricted stock granted to our directors and employees, we amortize the grant date fair value as expense on a straight-line basis over the service period with an offsetting increase in shareholders' equity. The grant date fair value of awards with only service-based vesting conditions is determined based upon the share price on the grant date. The grant date fair value of awards with both service-based and market-based vesting conditions is calculated using a Monte Carlo simulation. For restricted stock grants to non-employees, the fair value was based on the share price when the shares vest, which required the amount to be adjusted in each subsequent reporting period based on the fair value of the award at the end of the reporting period until the award had vested. Forfeitures of share-based awards are recognized as they occur. Short-term investments Short-term investments include certificates of deposit with original maturities greater than three months and remaining maturities less than one year. Treasury stock We account for repurchased common stock under the cost method and include such treasury stock as a component of total shareholders’ equity. We have repurchased shares of our common stock (i) under our Board approval to repurchase up to $300.0 million in shares of our common stock and (ii) upon our withholding of shares of our common stock to satisfy tax withholding obligations in connection with the vesting of our restricted stock. Accounting policies related to Front Yard The following significant accounting policies are applicable only to the accounts of Front Yard that we consolidated prior to January 1, 2016. These accounting policies are no longer applicable to our consolidated financial statements as of January 1, 2016. Mortgage loans, at fair value Front Yard accounted for its mortgage loans at fair value under the fair value option election with unrealized gains and losses recorded in current period earnings in order to timely reflect the results of Front Yard’s investment performance. The fair value of each loan was adjusted in each subsequent reporting period as the loan proceeded to a particular resolution (i.e., modification or conversion to real estate owned). As a loan approached resolution, the resolution timeline for that loan decreased, and costs embedded in the discounted cash flow model for loan servicing, foreclosure costs and property insurance were incurred and removed from future expenses. The shorter resolution timelines and reduced future expenses each increased the fair value of the loan. The increase in the value of the loan was recognized in change in unrealized gain on mortgage loans in Front Yard’s consolidated statements of operations. Front Yard also recognized unrealized gains and losses in the fair value of the loans in each reporting period when its mortgage loans were transferred to real estate owned. The transfer to real estate owned occurred when Front Yard obtained title to the property through completion of the foreclosure process. The fair value of these assets at the time of transfer to real estate owned was estimated using broker price opinions (“BPOs”). Our capital markets group determined the fair value of mortgage loans monthly and developed procedures and controls governing the valuation process relating to these assets. The capital markets group reported to Front Yard’s Investment Committee, which was a committee of Front Yard’s Chairman, its Chief Executive Officer and its Chief Financial Officer that oversaw and approved the valuations. The capital markets group also monitored the valuation model for performance against actual results, which was reported to the Investment Committee and used to continuously improve the model. Real estate depreciation and amortization The cost basis of Front Yard's residential rental properties was depreciated using the straight-line method over an estimated useful life of three years to 27.5 years based on the nature of the components. Lease intangibles were amortized on a straight-line basis over the remaining life of the related lease or, in the case of acquisitions of real estate pools, over the weighted average remaining life of the related pool of leases. Expenditures directly related to successful leasing efforts, such as lease commissions, were capitalized and subsequently amortized on a straight-line basis over the lease term of the respective leases, which generally were from one to two years. Real estate impairment We performed an impairment analysis of Front Yard's real estate assets if events or changes in circumstances indicated that the carrying value may have been impaired, such as prolonged vacancy, identification of materially adverse legal or environmental factors, changes in expected ownership period or a decline in market value to an amount less than the carrying amount. This analysis was performed at the property level using estimated cash flows. These cash flows were estimated based on a number of assumptions that were subject to economic and market uncertainties, including, among others, demand for rental properties, competition for customers, changes in market rental rates, costs to operate each property and expected ownership periods. If the carrying amount of a property exceeded the sum of its undiscounted future operating and residual cash flows, an impairment loss was recorded for excess of the carrying amount over the estimated fair value (in the case of rental residential properties and REO properties) or the estimated fair value less costs to sell (in the case of real estate assets held for sale). Rental revenues Minimum contractual rents from leases were recognized on a straight-line basis over the terms of the leases in residential rental revenues. Therefore, actual amounts billed in accordance with the lease during any given period may have been higher or lower than the amount of rental revenue recognized for the period. Straight-line rental revenue commenced when the customer took control of the leased premises. Deferred rents receivable represented the amount by which straight-line rental revenue exceeded rents billed in accordance with lease agreements. Termination fee income was recognized when the customer vacated the rental property, the amount of the fee was determinable and collectability was reasonably assured. Rents receivable and deferred rents receivable were reduced by an allowance for amounts that became uncollectible. We regularly evaluated the adequacy of Front Yard's allowance for doubtful accounts. The evaluation took into consideration the aging of accounts receivable and our analysis of customer personal profile and review past due account balances. Rents receivable and deferred rents receivable were written-off when Front Yard deemed that the amounts were uncollectible. Restricted cash Restricted cash represented cash deposits that were legally restricted or held by third parties on Front Yard’s behalf, such as escrows and reserves for debt service established pursuant to certain of Front Yard's repurchase and loan agreements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	3. Fair Value of Financial Instruments The following table sets forth the carrying amount and fair value of the Company's financial assets by level within the fair value hierarchy as of December 31, 2017 and 2016 ($ in thousands): Level 1 Level 2 Level 3 Carrying Amount Quoted Prices in Active Markets Observable Inputs Other Than Level 1 Prices Unobservable Inputs December 31, 2017 Recurring basis (assets) Available-for-sale securities: Front Yard common stock $ 19,266 $ 19,266 $ — $ — December 31, 2016 Recurring basis (assets) Available-for-sale securities: Front Yard common stock $ 17,934 $ 17,934 $ — $ — We did not transfer any assets from one level to another level during the years ended December 31, 2017 or 2016 . The carrying values of our cash and cash equivalents, short-term investments, accounts receivable, related party receivables and accounts payable and other accrued liabilities are equal to or approximate fair value. The fair value of our available-for-sale securities is based on unadjusted quoted market prices from active markets. As of December 31, 2017 and 2016 , we held 1,624,465 shares of Front Yard's common stock, representing approximately 3.0% of Front Yard's then-outstanding common stock, which is included as available-for-sale securities in our consolidated balance sheet. All of our shares of Front Yard's common stock were acquired in open market transactions. We recorded dividends on Front Yard's common stock of $1.0 million , $1.0 million and $0.2 million during the years ended December 31, 2017 , 2016 and 2015 , respectively. For the year ended December 31, 2015, we eliminated our dividends from Front Yard common stock upon consolidation (see Note 1). The following table presents the cost and fair value of our available-for-sale securities as of December 31, 2017 ($ in thousands): Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2017 Available-for-sale securities: Front Yard common stock $ 20,596 $ — $ 1,330 $ 19,266 December 31, 2016 Available-for-sale securities: Front Yard common stock $ 20,596 $ — $ 2,662 $ 17,934 During the year ended December 31, 2016 and 2015, we acquired 1,300,000 and 324,465 shares, respectively, of Front Yard's common stock in open market transactions at a weighted average purchase price of $11.97 and $15.41 per share, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	4. Commitments and Contingencies Litigation, claims and assessments From time to time, we may be involved in various claims and legal actions arising in the ordinary course of business. Set forth below is a summary of legal proceedings to which we are a party as of December 31, 2017 or which settled during 2017: City of Cambridge Retirement System v. Altisource Asset Management Corp., et al. On January 16, 2015, a putative shareholder class action complaint was filed in the United States District Court of the Virgin Islands by a purported shareholder of AAMC under the caption City of Cambridge Retirement System v. Altisource Asset Management Corp., et al. , 15-cv-00004. The action names as defendants AAMC, our former Chairman, William C. Erbey, and certain officers of AAMC and alleges that the defendants violated federal securities laws by failing to disclose material information to AAMC shareholders concerning alleged conflicts of interest held by Mr. Erbey with respect to AAMC’s relationship and transactions with Front Yard, Altisource Portfolio Solutions S.A., Home Loan Servicing Solutions, Ltd., Southwest Business Corporation, NewSource Reinsurance Company and Ocwen, including allegations that the defendants failed to disclose (i) the nature of relationships between Mr. Erbey, AAMC and those entities; and (ii) that the transactions were the result of an allegedly unfair process from which Mr. Erbey failed to recuse himself. The action seeks, among other things, an award of monetary damages to the putative class in an unspecified amount and an award of attorney’s and other fees and expenses. AAMC and Mr. Erbey are the only defendants who have been served with the complaint. On May 12, 2015, the court entered an order granting the motion of Denver Employees Retirement Plan to be lead plaintiff, and lead plaintiff filed an amended complaint on June 19, 2015. AAMC and Mr. Erbey filed a motion to dismiss the amended complaint for failure to state a claim upon which relief can be granted, and on April 6, 2017, the Court issued an opinion and order granting defendants’ motion to dismiss. On May 1, 2017, Plaintiff filed a motion for leave to amend the complaint and, at the same time, filed a proposed first amended consolidated complaint. AAMC and Mr. Erbey opposed the motion, and on July 5, 2017, the Court issued an opinion and order denying with prejudice the motion of the Plaintiff for leave to file the first amended consolidated complaint. On July 7, 2017, Plaintiff filed a notice of appeal with the Third Circuit Court of Appeals with respect to the federal district court's April 6, 2017 memorandum and order granting Defendants’ motion to dismiss, the April 6, 2017 order granting Defendants’ motion to dismiss and the July 5, 2017 order denying with prejudice Plaintiff’s motion for leave to file the first amendment consolidated complaint in the matter. On September 18, 2017, Appellant filed its appeal brief, and briefing on the appeal motion was completed on November 15, 2017. We believe the amended complaint is without merit. At this time, we are not able to predict the ultimate outcome of this matter, nor can we estimate the range of possible loss, if any. Kanga v. Altisource Asset Management Corporation, et al. On March 12, 2015, a shareholder derivative action was filed in the Superior Court of the Virgin Islands, Division of St. Croix, by a purported shareholder of AAMC under the caption Nanzeen Kanga v. William Erbey, et al. , SX-15-CV-105. The action names as defendants William C. Erbey and each of the current and former members of AAMC's Board of Directors and alleges that Mr. Erbey and AAMC’s directors breached fiduciary duties in connection with the disclosures that are the subject of the City of Cambridge Retirement System case described above and certain other matters involving the relationship of Front Yard and AAMC. On May 15, 2015, the plaintiff and the defendants filed an agreed motion to stay the action until the earliest of any of the following events: (i) the City of Cambridge Retirement System action is dismissed with prejudice; (ii) any of the defendants in the City of Cambridge Retirement System action file an answer in that action; and (iii) defendants do not move to stay any later-filed derivative action purportedly brought on behalf of us arising from similar facts as the Kanga action and relating to the same time frame or such motion to stay is denied. At this time, we are not able to predict the ultimate outcome of this matter, nor can we estimate the range of possible loss, if any. Operating leases We lease office space under various operating leases. The future minimum payments under non-cancelable leases we are obligated to make as of December 31, 2017 are as follows ($ in thousands): 2018 $ 175 2019 175 2020 172 2021 120 2022 and thereafter 67 $ 709

Related-party Transactions

Related-party Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related-party Transactions	5. Related-party Transactions Through January 16, 2015, William C. Erbey served as our Chairman as well as the Executive Chairman of Ocwen, Chairman of ASPS and Chairman of Front Yard. Effective January 16, 2015, Mr. Erbey stepped down as the Executive Chairman of Ocwen and Chairman of each of us, ASPS and Front Yard and is no longer a member of the Board of Directors for any of these companies. Accordingly, at that point, Ocwen and ASPS were no longer considered related parties of Front Yard or AAMC as defined by ASC Topic 850, Related Party Disclosures . Transactions under our agreements with Ocwen and ASPS for the period January 1, 2015 through January 16, 2015 were not material to our consolidated results of operations. Asset management agreement with Front Yard Pursuant to the AMA, we design and implement Front Yard's business strategy, administer its business activities and day-to-day operations and provide corporate governance services, subject to oversight by Front Yard's Board of Directors. We are responsible for, among other duties: (1) performing and administering all of Front Yard's day-to-day operations; (2) defining investment criteria in Front Yard's investment policy in cooperation with its Board of Directors; (3) sourcing, analyzing and executing asset acquisitions, including the related financing activities; (4) analyzing and executing sales of REO properties and residential mortgage loans; (5) overseeing the Property Managers' renovation, leasing and property management of Front Yard's SFR properties; (6) overseeing the servicing of Front Yard's remaining residential mortgage loans; (7) performing asset management duties and (8) performing corporate governance and other management functions, including financial, accounting and tax management services. We provide Front Yard with a management team and support personnel who have substantial experience in the acquisition and management of residential properties and residential mortgage loans. Our management also has significant corporate governance experience that enables us to manage Front Yard's business and organizational structure efficiently. We have agreed not to provide the same or substantially similar services without the prior written consent of Front Yard's Board of Directors to any business or entity competing against Front Yard in (a) the acquisition or sale of SFR and/or REO properties, non-performing and re-performing mortgage loans or other similar assets; (b) the carrying on of a SFR business or (c) any other activity in which Front Yard engages. Notwithstanding the foregoing, we may engage in any other business or render similar or different services to any businesses engaged in lending or insurance activities or any other activity other than those described above. Further, at any time following Front Yard's determination and announcement that it will no longer engage in any of the above-described competitive activities, we would be entitled to provide advisory or other services to businesses or entities in such competitive activities without Front Yard's prior consent. On March 31, 2015, we entered into the AMA with Front Yard. The AMA, which became effective on April 1, 2015, provides for the following management fee structure: • Base Management Fee . We are entitled to a quarterly base management fee equal to 1.5% of the product of (i) Front Yard's average invested capital (as defined in the AMA) for the quarter multiplied by (ii) 0.25 , while it has fewer than 2,500 SFR properties actually rented (“Rental Properties”). The base management fee percentage increases to 1.75% of average invested capital while Front Yard has between 2,500 and 4,499 Rental Properties and increases to 2.0% of average invested capital while it has 4,500 or more Rental Properties; • Incentive Management Fee . We are entitled to a quarterly incentive management fee equal to 20% of the amount by which Front Yard's return on invested capital (based on AFFO, defined as net income attributable to holders of common stock calculated in accordance with GAAP plus real estate depreciation expense minus recurring capital expenditures on all real estate assets owned by Front Yard) exceeds an annual hurdle return rate of between 7.0% and 8.25% (or 1.75% and 2.06% per quarter), depending on the 10 -year treasury rate. To the extent Front Yard has an aggregate shortfall in its return rate over the previous seven quarters, that aggregate return rate shortfall gets added to the normal quarterly 1.75% return hurdle for the next quarter before we are entitled to an incentive management fee. The incentive management fee increases to 22.5% while Front Yard has between 2,500 and 4,499 Rental Properties and increases to 25% while it has 4,500 or more Rental Properties; and • Conversion Fee . We are entitled to a quarterly conversion fee equal to 1.5% of the market value of assets converted into leased single-family homes by Front Yard for the first time during the quarter. Because Front Yard has more than 4,500 Rental Properties, we are entitled to receive a base management fee of 2.0% of Front Yard’s invested capital and a potential incentive management fee percentage of 25% of the amount by which Front Yard exceeds its then-required return on invested capital threshold. Front Yard has the flexibility to pay up to 25% of the incentive management fee to us in shares of its common stock. Under the AMA, Front Yard reimburses us for the compensation and benefits of the General Counsel dedicated to Front Yard and certain other out-of-pocket expenses incurred on Front Yard's behalf. The AMA requires that we are the exclusive asset manager for Front Yard for an initial term of 15 years from April 1, 2015, with two potential five -year extensions, subject to Front Yard achieving an average annual return on invested capital of at least 7.0% . Under the AMA, neither party is entitled to terminate the AMA prior to the end of the initial term, or each renewal term, other than termination by (a) us and/or Front Yard “for cause” for certain events such as a material breach of the AMA and failure to cure such breach, (b) Front Yard for certain other reasons such as its failure to achieve a return on invested capital of at least 7.0% for two consecutive fiscal years after the third anniversary of the AMA or (c) Front Yard in connection with certain change of control events. Under the previous asset management agreement, Front Yard paid us a quarterly incentive management fee based on its cash available for distribution to its stockholders. Front Yard distributed any quarterly distribution to its stockholders after the application of the incentive management fee payable to us. Front Yard was required to reimburse us on a monthly basis for the (i) direct and indirect expenses we incurred or payments we made on Front Yard’s behalf, including, but not limited to, the allocable compensation and routine overhead expenses of all of our employees and staff and (ii) all other reasonable operating and overhead expenses we incurred related to the asset management services we provided to Front Yard. If the AMA were terminated by Front Yard, our financial position and future prospects for revenues and growth would be materially and adversely affected. Summary of related-party transactions The following table presents our significant transactions with Front Yard, which is a related party, for the periods indicated ($ in thousands): Year Ended December 31, 2017 2016 2015 Base management fees (1) $ 16,010 $ 17,334 $ 13,935 Conversion fees (1) 1,291 1,841 1,037 Expense reimbursements (1) 859 816 750 Incentive management fees (1) — — 7,994 Professional fee sharing for negotiation of the AMA (1) — — 2,000 _______________ (1) Prior to January 1, 2016, we eliminated these transactions upon consolidation (see Note 1 ). No incentive management fee under the AMA has been earned by us because Front Yard's return on invested capital (as defined in the AMA) for the seven quarters covered by the AMA was below the required hurdle rate. Under the AMA, to the extent Front Yard has an aggregate shortfall in its return rate over the previous seven quarters, that aggregate return rate shortfall gets added to the normal quarterly 1.75% return hurdle for the next quarter before we are entitled to an incentive management fee. As of December 31, 2017 , the aggregate return shortfall from the prior seven quarters under the AMA was approximately 55.82% of invested capital. As each quarter with a shortfall rolls off the trailing seven quarters, the aggregate shortfall will change by the difference in the quarter that rolls off versus the most recently completed quarter. On September 30, 2014, pursuant to a master repurchase agreement, a subsidiary of Front Yard sold $15.0 million of the ARLP 2014-1 Class M Notes to NewSource. On September 22, 2015, such subsidiary completed its repurchase of the ARLP 2014-1 Class M Notes from NewSource at a 5.0% yield.

Incentive Compensation and Shar

Incentive Compensation and Share-based Payments	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive Compensation and Share-based Payments	6. Incentive Compensation and Share-based Payments Long-term incentive compensation Our officers and employees participate in an annual non-equity incentive program whereby they are eligible for incentive cash payments based on a percentage of their annual base salary. Our officers generally have a target annual non-equity incentive payment percentage that ranges from 50% to 100% of base salary. The officer's actual incentive payment for the year is determined by (i) the Company's performance versus the objectives established in the corporate scorecard ( 80% ) and (ii) a performance appraisal ( 20% ). Our named executive officers and certain employees have and will receive grants of stock options and restricted stock under the 2012 Equity Incentive Plan (the “2012 Plan”). In addition, a special grant of stock options and restricted stock was made to certain Ocwen employees related to the separation under the 2012 Special Equity Incentive Plan (the “2012 Special Plan”). Dividends received on restricted stock are forfeitable and are accumulated until the time of vesting at the same rate and on the same date as on shares of common stock. Upon the vesting of stock options and restricted stock, we may withhold up to the statutory minimum to satisfy the resulting employee tax obligation. The 2012 Plan also allows for the grant of performance awards and other awards such as purchase rights, equity appreciation rights, shares of common stock awarded without restrictions or conditions, convertible securities, exchangeable securities or other rights convertible or exchangeable into shares of common stock, as the Compensation Committee in its discretion may determine. The following table sets forth the number of shares of common stock reserved for future issuance. We may issue new shares or issue shares from treasury shares upon the exercise of stock options or the vesting of restricted stock. December 31, 2017 Stock options outstanding 29,450 Possible future issuances under equity incentive plan 81,862 111,312 As of December 31, 2017 , we had 2,184,878 remaining shares of common stock authorized to be issued under our charter. Stock options The following table sets forth the activity of our outstanding options: Number of Options Weighted Average Exercise Price per Share December 31, 2014 239,060 $ 1.10 Exercised (54,261 ) 1.35 Forfeited or canceled (3,097 ) 4.14 December 31, 2015 181,702 0.98 Exercised (39,396 ) 0.80 Forfeited or canceled (939 ) 3.67 December 31, 2016 141,367 1.01 Exercised (111,917 ) 0.75 December 31, 2017 29,450 $ 2.01 As of December 31, 2017 , we had 29,450 outstanding options, all of which were exercisable, with a weighted average exercise price of $2.01 , weighted average remaining life of 2.3 years and intrinsic value of $2.3 million . Of these options, none had an exercise price higher than the market price of our common stock as of December 31, 2017 . Restricted stock During the years ended December 31, 2017 , we granted 20,205 shares of service-based restricted stock to members of management with a weighted average grant date fair value per share of $78.58 under the 2012 Plan. During the year ended December 31, 2016 , we granted no shares of restricted stock to members of management. Restricted stock granted in 2017 vests in equal annual installments on each of the first three anniversaries of the grant date, subject to acceleration or forfeiture. Restricted stock granted in 2015 and 2014 vests based on achievement of the following performance hurdles and vesting schedule: • Twenty-five percent ( 25% ) of the grant will vest in accordance with the vesting schedule set forth below if the market value of our stock meets both of the following conditions: (i) the market value has realized a compounded annual gain of at least twenty percent ( 20% ) over the market value on the date of the grant and (ii) the market value is at least double the market value on the date of the grant; • Fifty percent ( 50% ) of the grant will vest in accordance with the vesting schedule set forth below if the market value of our stock meets both of the following conditions: (i) the market value has realized a compounded annual gain of at least twenty-two and a half percent ( 22.5% ) over the market value on the date of the grant and (ii) the market value is at least triple the market value on the date of the grant and • Twenty-five percent ( 25% ) of the grant will vest in accordance with the vesting schedule set forth below if the market value of Company stock meets both of the following conditions: (i) the market value has realized a compounded annual gain of at least twenty-five percent ( 25% ) over the market value on the date of the grant and (ii) the market value is at least quadruple the market value on the date of the grant. • After the performance hurdles have been achieved, 25% of the restricted stock will vest on the first anniversary of the date that the performance hurdle for that tranche was met. The remaining 75% of that tranche will either vest (i) on the second anniversary of the date that the performance hurdle was met for certain grants or (ii) ratably over the second, third and fourth anniversaries of the date that the performance hurdle was met for certain grants. We granted shares of restricted stock to employees of ASPS under the 2012 Plan and 2012 Special Plan related to our separation from ASPS. We included no share-based compensation in our consolidated financial statements for the portion of these grants made to ASPS employees. These shares of restricted stock became fully vested and were issued during 2017. As part of the separation, we granted restricted stock to an employee of Ocwen. We calculated the fair value of non-employee restricted stock using a Monte Carlo simulation until each market hurdle was met. Subsequent to the market hurdle being met, we calculated the fair value of non-employee restricted stock based on the market value of shares quoted on the NYSE. The fair value was re-measured each accounting period with amortization of the resulting expense over the vesting period. These instruments qualified for equity classification. These shares of restricted stock became fully vested and were issued during 2017. Additionally, our Directors each receive annual grants of restricted stock equal to $60,000 based on the market value of our common stock at the time of the annual stockholders meeting. This restricted stock vests and is issued after a one -year service period subject to each Director attending at least 75% of the Board and committee meetings. No dividends are paid on the shares until the award is issued. During the years ended December 31, 2017 and 2016 , we granted 2,001 and 11,119 shares of stock, respectively, pursuant to our 2013 Director Equity Plan with a weighted average grant date fair value per share of $89.93 and $19.31 , respectively. We recorded $7.0 million and $9.6 million of compensation expense related to these grants for the years ended December 31, 2017 and 2016 , respectively. As of December 31, 2017 and 2016 , we had $4.5 million and $9.6 million , respectively, of total unrecognized share-based compensation cost to be recognized over a weighted average remaining estimated term of 1.2 years and 1.5 years , respectively. The following table sets forth the activity of our restricted stock: Number of Shares Weighted Average Grant Date Fair Value December 31, 2014 175,489 $ 90.51 Granted 53,531 174.34 Vested (1) (51,305 ) 11.53 Forfeited or canceled (23,389 ) 6.65 December 31, 2015 154,326 158.84 Granted 11,119 19.31 Vested (1) (40,566 ) 13.34 December 31, 2016 124,879 193.17 Granted 22,206 79.60 Vested (1) (65,576 ) 79.45 December 31, 2017 81,509 $ 253.72 _____________ (1) The vesting date fair value of restricted stock that vested during the years ended December 31, 2017 , 2016 and 2015 was $5.1 million , $0.6 million and $11.6 million , respectively. Restricted stock granted with market-based vesting conditions We calculate the grant date fair value of restricted stock subject to market-based vesting conditions using a Monte Carlo simulation and amortize the resulting compensation expense over the respective vesting or service period. The fair value of restricted stock granted was determined using the following assumptions, weighted by number of shares: Year ended December 31, 2015 Risk free interest rate (1) 2.89% to 3.27% Common stock dividend yield (2) 0% Expected volatility (3) 92.04% to 96.46% _____________ (1) Represents the interest rate as of the grant date on US treasury bonds having the same life as the estimated life of the restricted stock grants. (2) At the date of grant, we had no history of dividend payments. (3) Based on the historical volatility of comparable companies, adjusted for our expected additional cash flow volatility.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes We are domiciled in the USVI and are obligated to pay taxes to the USVI on our income. We applied for tax benefits from the USVI Economic Development Commission and received our certificate of benefits (“the Certificate”), effective as of February 1, 2013. Pursuant to the Certificate, so long as we comply its provisions, we will receive a 90% tax reduction on our USVI-sourced income until 2043. For the year ended December 31, 2017 , we generated a tax loss in the USVI. For the years ended December 31, 2017 , 2016 and 2015 , AAMC had income from AAMC Cayman SEZC Ltd., a Cayman entity disregarded for USVI tax purposes, and from Front Yard dividends. This income was not eligible for the 90% tax reduction. Beginning on January 1, 2017, AAMC US, Inc., a domestic U.S. corporation and wholly-owned subsidiary, began operations. This entity is based entirely in the mainland U.S. and is subject to U.S. federal and state corporate income tax. Prior to January 1, 2016, our income tax expense and accruals included those of Front Yard. During the year ended December 31, 2015, Front Yard qualified as a REIT, distributed the necessary amount of taxable income and, therefore, incurred no federal income tax expense; accordingly, the only federal income taxes included in the accompanying consolidated financial statements are in connection with its taxable REIT subsidiary. The following table sets forth the components of income (loss) before income taxes: Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 U.S. Virgin Islands $ (7,259 ) $ (3,721 ) $ (1,249 ) Other 998 492 (1,687 ) Loss before income taxes $ (6,261 ) $ (3,229 ) $ (2,936 ) The following table sets forth the components of our deferred tax assets: December 31, 2017 December 31, 2016 Deferred tax assets: Stock compensation $ 374 $ 880 Accrued expenses 550 475 Available-for-sale securities 307 1,027 Net operating losses 114 — Other 29 21 1,374 2,403 Deferred tax liability: Depreciation 14 5 1,360 2,398 Valuation allowance (828 ) (2,377 ) Deferred tax asset, net $ 532 $ 21 The change in deferred tax assets is included in changes in other non-current assets in the consolidated statement of cash flows for the year ended December 31, 2017. Significant factors contributing to the decrease in our valuation allowance in 2017 are the reduction of the corporate income tax rate in the U.S. and U.S. Virgin Islands stemming from U.S. tax reform, reductions in the temporary differences attributable to AAMC’s investment in RESI common shares and vesting of share-based compensation awards. The following table sets forth the reconciliation of the statutory USVI income tax rate to our effective income tax rate: Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 U.S. Virgin Islands income tax rate 38.5 % 38.5 % 38.5 % State and local income tax rates (0.1 ) — 4.7 Excluded REIT income — — 2.6 EDC benefits in the USVI (45.1 ) (50.7 ) (0.7 ) Foreign tax rate differential 0.3 (1.2 ) (3.5 ) Permanent and other (4.6 ) 2.1 (1.7 ) Valuation allowance — (41.5 ) (40.6 ) Effective income tax rate (1) (11.0 )% (52.8 )% (0.7 )% ________________ (1) Prior to our deconsolidation of Front Yard effective January 1, 2016, our effective tax rate included the activities of Front Yard. During the tax years ended December 31, 2017 and 2016 , we recognized no interest or penalties associated with unrecognized tax benefits. As of December 31, 2017 and 2016 , we had accrued no unrecognized tax benefits or associated interest and penalties. We remain subject to tax examination in the USVI for tax years 2014 to 2017 and in the United States for 2017. Impact of Tax Reform The Tax Cuts & Jobs Act (the “TCJA”) was enacted on December 22, 2017. The TCJA reduces the U.S. federal corporate tax rate from 35% to 21% , requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and creates new taxes on certain foreign-sourced earnings. At December 31, 2017, we have recorded, in accordance with ASC 740, the tax effects of enactment of the TCJA on existing deferred tax balances, and we estimate there is no one-time transition tax on foreign earnings. Further, we estimate that the new taxes on foreign-sourced earnings are not applicable to our foreign operations. We re-measured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21% . As the majority of our deferred balances are offset by a full valuation allowance, the revaluation of our deferred balances from TCJA was immaterial. Therefore, although management is still evaluating the effects of the TCJA, we do not believe that the TCJA will significantly impact our consolidated financial statements. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the TCJA. SAB 118 provides a measurement period that should not extend beyond one year from the TCJA enactment date for companies to complete the accounting under ASC 740, Income Taxes. Our financial results reflect the income tax effects of the TCJA for which the accounting under ASC Topic 740 is complete, and we have recorded provisional amounts for those specific income tax effects of the TCJA for which the accounting under ASC Topic 740 is incomplete but a reasonable estimate could be determined. We recorded an immaterial amount of tax expense for the impact of the re-measurement of our deferred tax inventory. We are still analyzing certain aspects of the TCJA and refining our calculations; therefore, these estimates may change as additional information becomes available.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Earnings per Share	8. Earnings per Share The following table sets forth the components of diluted loss per share (in thousands, except share and per share amounts): Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 Numerator Net loss attributable to stockholders $ (6,969 ) $ (4,935 ) $ (3,290 ) Amortization of preferred stock issuance costs (206 ) (207 ) (206 ) Numerator for basic and diluted EPS - loss attributable to common stockholders $ (7,175 ) $ (5,142 ) $ (3,496 ) Denominator Weighted average common stock outstanding – basic 1,570,428 1,752,302 2,202,815 Weighted average common stock outstanding – diluted 1,570,428 1,752,302 2,202,815 Loss per basic share $ (4.57 ) $ (2.93 ) $ (1.59 ) Loss per diluted share $ (4.57 ) $ (2.93 ) $ (1.59 ) We excluded the items presented below from the calculation of diluted earnings per share as they were antidilutive for the periods indicated: Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 Numerator Amortization of preferred stock issuance costs $ 206 $ 207 $ 206 Denominator Stock options 57,488 165,983 222,566 Restricted stock 38,424 40,476 85,121 Preferred stock, if converted 200,000 200,000 200,000

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Segment Information	9. Segment Information Our primary business is to provide asset management and certain corporate governance services to institutional investors. Because substantially all of our revenue is derived from the services we provide to Front Yard under the AMA, we operate as a single segment focused on providing asset management and corporate governance services.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	10. Quarterly Financial Information (Unaudited) The following tables set forth our quarterly financial information (unaudited, $ in thousands except per share amounts): 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Total revenues $ 5,011 $ 4,643 $ 4,429 $ 4,077 $ 18,160 Net loss attributable to stockholders (1,318 ) (1,742 ) (2,125 ) (1,784 ) (6,969 ) Loss per share of common stock – basic (0.89 ) (1.15 ) (1.38 ) (1.15 ) (4.57 ) Loss per share of common stock – diluted (0.89 ) (1.15 ) (1.38 ) (1.15 ) (4.57 ) 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Total revenues $ 4,526 $ 5,407 $ 4,854 $ 5,204 $ 19,991 Net loss attributable to stockholders (940 ) (1,261 ) (1,071 ) (1,663 ) (4,935 ) Loss per share of common stock – basic (0.50 ) (0.74 ) (0.67 ) (1.09 ) (2.93 ) Loss per share of common stock – diluted (0.50 ) (0.74 ) (0.67 ) (1.09 ) (2.93 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events Management has evaluated the impact of all events subsequent to December 31, 2017 and through the issuance of these consolidated financial statements. Except as disclosed below, management has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements. On February 20, 2018, we granted 25,074 shares of service-based restricted stock to members of management with a weighted average grant date fair value per share of $64.05 .

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation and use of estimates The accompanying audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Effective January 1, 2016, the accompanying consolidated financial statements include the accounts of AAMC and its consolidated subsidiaries, which are comprised of voting interest entities in which we are determined to have a controlling financial interest under Accounting Standards Codification (“ASC”) 810, as amended by Accounting Standards Update (“ASU”) 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis (“ASU 2015-02”). Our voting interest entities consist entirely of our wholly owned subsidiaries. We also consider variable interest entities (“VIEs”) for consolidation where we are the primary beneficiary. With the adoption of the ASU 2015-02 effective January 1, 2016, we no longer consolidate Front Yard as a VIE, and we currently do not have any other potential VIEs.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Deconsolidation of Front Yard	Deconsolidation of Front Yard Effective January 1, 2016, we adopted the provisions of ASU 2015-02, and we performed an analysis of our relationship with Front Yard pursuant to the amended guidance. We determined that the compensation we receive in return for our services to Front Yard is commensurate with the level of effort required to perform such services and the arrangement includes customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length; therefore, Front Yard is no longer a VIE under the amended guidance. As a result, effective January 1, 2016, we no longer consolidate the accounts of Front Yard. We applied ASU 2015-02 using the modified retrospective approach, which resulted in a cumulative-effect adjustment to equity on January 1, 2016. As a result, periods prior to January 1, 2016 were not impacted. The adoption effectively removed those balances previously disclosed that related to Front Yard from our consolidated financial statements and eliminated the amounts previously reported as non-controlling interests in Front Yard as a consolidated affiliate. Subsequent to adoption, our consolidated revenues consist of management fees and expense reimbursements received from Front Yard under the AMA, and our consolidated expenses consist of salaries and employee benefits, legal and professional fees and general and administrative expenses.
Recently issued accounting standards	Recently issued accounting standards Adoption of recent accounting standards In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, in an effort to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This ASU is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted. We adopted the provisions of ASU 2017-01 effective January 1, 2017. This adoption had no significant effect on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The amendments in ASU 2016-18 require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The amendments in ASU 2016-18 should be applied on a retrospective transition basis. Early adoption is permitted, including adoption during an interim period. Effective January 1, 2017, the Company has adopted the provisions of ASU 2016-18. As a result of this adoption, the Company has retrospectively included $20.6 million of cash flows related to the decrease in restricted cash upon the deconsolidation of Front Yard in its investing activities on the cash flow statement for the year ended December 31, 2016. In addition, the Company has retrospectively reclassified $7.3 million of cash flows related to changes in restricted cash from investing activities on the cash flow statement to the cash, cash equivalents and restricted cash balances for the year ended December 31, 2015. Restricted cash balances were attributable to Front Yard and included amounts related to tenant deposits, mortgage loan escrows and reserves for debt service established pursuant to Front Yard's repurchase and loan agreements and other secured borrowings. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718). ASU 2016-09 makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. This ASU became effective for interim and annual reporting periods beginning after December 15, 2016. Our adoption of this amendment on January 1, 2017 did not have a significant effect on our consolidated financial statements. Recently issued accounting standards not yet adopted In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718). The amendments in ASU 2017-09 provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This ASU is effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. Early adoption is permitted, including adoption during an interim period. We do not expect the adoption of this standard to have a material impact on our consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under Topic 230. The amendments in ASU 2016-15 are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, including adoption during an interim period. The amendments in ASU 2016-15 should be applied on a modified retrospective transition basis. We do not expect this amendment to have a significant effect on our consolidated financial statements. In February 2016, FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position and also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. This ASU is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. Early adoption is permitted. The amendments in ASU 2016-02 should be applied on a modified retrospective transition basis, and a number of practical expedients may apply. These practical expedients relate to the identification and classification of leases that commenced before the effective date, initial direct costs for leases that commenced before the effective date and the ability to use hindsight in evaluating lessee options to extend or terminate a lease or to purchase the underlying asset. We are currently evaluating the impact of this ASU on our consolidated financial statements; however, upon adoption, we expect to recognize a right-of-use asset and a related lease liability on our consolidated balance sheet for the leases we currently classify as operating leases. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendments in this ASU are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. Upon our adoption of ASU 2016-01, we expect to recognize a cumulative-effect adjustment to our balance sheet to reclassify our accumulated other comprehensive loss of $1.3 million to retained earnings, and we will thereafter record changes in the fair value of our available-for-sale securities through profit and loss. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which effectively delayed the adoption date of ASU 2014-09 by one year. In 2016 and 2017, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. We have substantively completed our analysis of the impact of this standard. Due to the nature of the management fees we earn under the AMA, we do not expect this amendment to have a significant effect on our consolidated financial statements. We anticipate applying this amendment using the modified retrospective method.
Available-for-sale securities	Available-for-sale securities The securities we hold consist solely of the common stock of Front Yard. These securities are classified as available for sale and are reported at fair value. We adjust our investment in Front Yard common stock to fair value based on unadjusted quoted market prices in active markets. Changes in the fair value are recorded in accumulated other comprehensive income (loss) as changes in unrealized gain (loss) on available-for-sale securities. Our ability to sell these securities, or the price ultimately realized for these securities, depends upon the demand in the market and potential restrictions on the timing at which we may be able to sell the Front Yard common stock when desired.
Cash equivalents	Cash equivalents We consider highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Consolidations	Consolidations The consolidated financial statements include the accounts of AAMC and its consolidated subsidiaries, which include the voting interest entities in which we are determined to have a controlling financial interest. Our voting interest entities consist entirely of our wholly owned subsidiaries. We also consider VIEs for consolidation where we are the primary beneficiary. We had no VIEs or potential VIEs as of and for the year ended December 31, 2017 . For legal entities evaluated for consolidation, we determine whether the interests that we hold and fees paid to us qualify as a variable interest in the entity. This includes an evaluation of fees paid to us where we act as a decision maker or service provider to the entity being evaluated. Fees received by us are not variable interests if (i) the fees are compensation for services provided and are commensurate with the level of effort required to provide those services, (ii) the service arrangement includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length and (iii) our other economic interests in the VIE held directly and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable, would not absorb more than an insignificant amount of the entity’s losses or receive more than an insignificant amount of the entity’s benefits. For those entities in which we have a variable interest, we perform an analysis to first determine whether the entity is a VIE. This determination includes considering whether the entity’s equity investment at risk is sufficient, whether the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity's activities either involve or are conducted on behalf of that investor and its related parties and whether the entity’s at-risk equity holders have the characteristics of a controlling financial interest. A VIE must be consolidated by its primary beneficiary. Performance of such analysis requires the exercise of judgment. The primary beneficiary of a VIE is generally defined as the party who has a controlling financial interest in the VIE. We are generally deemed to have a controlling financial interest in a VIE if we have (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. For purposes of evaluating (ii) above, fees paid to us are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. We also evaluate our economic interests in the VIE held directly by us and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable. The primary beneficiary evaluation is generally performed qualitatively on the basis of all facts and circumstances. However, quantitative information may also be considered in the analysis, as appropriate. These analyses require judgment. Changes in the economic interests (either by us, our related parties or third parties) or amendments to the governing documents of the VIE could affect an entity's status as a VIE or the determination of the primary beneficiary. The primary beneficiary evaluation is updated periodically. For voting interest entities, we shall consolidate the entity if we have a controlling financial interest. We have a controlling financial interest in a voting interest entity if (i) for legal entities other than limited partnerships, we own a majority voting interest in the entity or, for limited partnerships and similar entities, we own a majority of the entity’s kick-out rights through voting limited partnership interests and (ii) non-controlling shareholders or partners do not hold substantive participating rights and no other conditions exist that would indicate that we do not control the entity.
Earnings per share	Earnings per share Basic earnings per share is computed by dividing net income or loss attributable to stockholders, less amortization of preferred stock issuance costs, by the weighted average common stock outstanding during the period. Diluted earnings per share is computed by dividing net income or loss attributable to stockholders by the weighted average common stock outstanding for the period plus the dilutive effect of (i) stock options and restricted stock outstanding using the treasury stock method and (ii) Series A Preferred Stock using the if-converted method. Weighted average common stock outstanding - basic excludes the impact of unvested restricted stock since dividends paid on such restricted stock are non-participating.
Fees under the asset management agreement	Fees under the asset management agreement In accordance with the asset management agreement, we receive compensation from Front Yard, a related party, on a quarterly basis for our efforts in the management of Front Yard's business. We recognize these fees in the fiscal quarter in which they are earned by us. Refer to Note 5 for details of the fee structure under the asset management agreement. Prior to our deconsolidation of Front Yard effective January 1, 2016, our revenue and Front Yard's corresponding expense related to these fees were eliminated in consolidation.
Fair value of financial instruments	Fair value of financial instruments We designate fair value measurements into three levels based on the lowest level of substantive input used to make the fair value measurement. Those levels are as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Income taxes	Income taxes Income taxes are provided for using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which management expects those temporary differences to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period in which the change occurs. Subject to our judgment, we reduce a deferred tax asset by a valuation allowance if it is “more likely than not” that some or the entire deferred tax asset will not be realized. Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required in evaluating tax positions, and we recognize tax benefits only if it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authority.
Other non-current assets	Other non-current assets Other non-current assets includes leasehold improvements; furniture, fixtures and equipment; deferred tax assets and miscellaneous intangibles assets.
Share-based compensation	Share-based compensation For restricted stock granted to our directors and employees, we amortize the grant date fair value as expense on a straight-line basis over the service period with an offsetting increase in shareholders' equity. The grant date fair value of awards with only service-based vesting conditions is determined based upon the share price on the grant date. The grant date fair value of awards with both service-based and market-based vesting conditions is calculated using a Monte Carlo simulation. For restricted stock grants to non-employees, the fair value was based on the share price when the shares vest, which required the amount to be adjusted in each subsequent reporting period based on the fair value of the award at the end of the reporting period until the award had vested. Forfeitures of share-based awards are recognized as they occur.
Short-term investments	Short-term investments Short-term investments include certificates of deposit with original maturities greater than three months and remaining maturities less than one year.
Treasury stock	Treasury stock We account for repurchased common stock under the cost method and include such treasury stock as a component of total shareholders’ equity. We have repurchased shares of our common stock (i) under our Board approval to repurchase up to $300.0 million in shares of our common stock and (ii) upon our withholding of shares of our common stock to satisfy tax withholding obligations in connection with the vesting of our restricted stock.
Mortgage loans, at fair value	Mortgage loans, at fair value Front Yard accounted for its mortgage loans at fair value under the fair value option election with unrealized gains and losses recorded in current period earnings in order to timely reflect the results of Front Yard’s investment performance. The fair value of each loan was adjusted in each subsequent reporting period as the loan proceeded to a particular resolution (i.e., modification or conversion to real estate owned). As a loan approached resolution, the resolution timeline for that loan decreased, and costs embedded in the discounted cash flow model for loan servicing, foreclosure costs and property insurance were incurred and removed from future expenses. The shorter resolution timelines and reduced future expenses each increased the fair value of the loan. The increase in the value of the loan was recognized in change in unrealized gain on mortgage loans in Front Yard’s consolidated statements of operations. Front Yard also recognized unrealized gains and losses in the fair value of the loans in each reporting period when its mortgage loans were transferred to real estate owned. The transfer to real estate owned occurred when Front Yard obtained title to the property through completion of the foreclosure process. The fair value of these assets at the time of transfer to real estate owned was estimated using broker price opinions (“BPOs”). Our capital markets group determined the fair value of mortgage loans monthly and developed procedures and controls governing the valuation process relating to these assets. The capital markets group reported to Front Yard’s Investment Committee, which was a committee of Front Yard’s Chairman, its Chief Executive Officer and its Chief Financial Officer that oversaw and approved the valuations. The capital markets group also monitored the valuation model for performance against actual results, which was reported to the Investment Committee and used to continuously improve the model.
Real estate depreciation and amortization	Real estate depreciation and amortization The cost basis of Front Yard's residential rental properties was depreciated using the straight-line method over an estimated useful life of three years to 27.5 years based on the nature of the components. Lease intangibles were amortized on a straight-line basis over the remaining life of the related lease or, in the case of acquisitions of real estate pools, over the weighted average remaining life of the related pool of leases. Expenditures directly related to successful leasing efforts, such as lease commissions, were capitalized and subsequently amortized on a straight-line basis over the lease term of the respective leases, which generally were from one to two years.
Real estate impairment	Real estate impairment We performed an impairment analysis of Front Yard's real estate assets if events or changes in circumstances indicated that the carrying value may have been impaired, such as prolonged vacancy, identification of materially adverse legal or environmental factors, changes in expected ownership period or a decline in market value to an amount less than the carrying amount. This analysis was performed at the property level using estimated cash flows. These cash flows were estimated based on a number of assumptions that were subject to economic and market uncertainties, including, among others, demand for rental properties, competition for customers, changes in market rental rates, costs to operate each property and expected ownership periods. If the carrying amount of a property exceeded the sum of its undiscounted future operating and residual cash flows, an impairment loss was recorded for excess of the carrying amount over the estimated fair value (in the case of rental residential properties and REO properties) or the estimated fair value less costs to sell (in the case of real estate assets held for sale).
Rental revenues	Rental revenues Minimum contractual rents from leases were recognized on a straight-line basis over the terms of the leases in residential rental revenues. Therefore, actual amounts billed in accordance with the lease during any given period may have been higher or lower than the amount of rental revenue recognized for the period. Straight-line rental revenue commenced when the customer took control of the leased premises. Deferred rents receivable represented the amount by which straight-line rental revenue exceeded rents billed in accordance with lease agreements. Termination fee income was recognized when the customer vacated the rental property, the amount of the fee was determinable and collectability was reasonably assured. Rents receivable and deferred rents receivable were reduced by an allowance for amounts that became uncollectible. We regularly evaluated the adequacy of Front Yard's allowance for doubtful accounts. The evaluation took into consideration the aging of accounts receivable and our analysis of customer personal profile and review past due account balances. Rents receivable and deferred rents receivable were written-off when Front Yard deemed that the amounts were uncollectible.
Restricted cash	Restricted cash Restricted cash represented cash deposits that were legally restricted or held by third parties on Front Yard’s behalf, such as escrows and reserves for debt service established pursuant to certain of Front Yard's repurchase and loan agreements.

Fair Value of Financial Instr20

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair value measurements, recurring and nonrecurring	The following table sets forth the carrying amount and fair value of the Company's financial assets by level within the fair value hierarchy as of December 31, 2017 and 2016 ($ in thousands): Level 1 Level 2 Level 3 Carrying Amount Quoted Prices in Active Markets Observable Inputs Other Than Level 1 Prices Unobservable Inputs December 31, 2017 Recurring basis (assets) Available-for-sale securities: Front Yard common stock $ 19,266 $ 19,266 $ — $ — December 31, 2016 Recurring basis (assets) Available-for-sale securities: Front Yard common stock $ 17,934 $ 17,934 $ — $ —
Fair value, unrealized gains (losses)	The following table presents the cost and fair value of our available-for-sale securities as of December 31, 2017 ($ in thousands): Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2017 Available-for-sale securities: Front Yard common stock $ 20,596 $ — $ 1,330 $ 19,266 December 31, 2016 Available-for-sale securities: Front Yard common stock $ 20,596 $ — $ 2,662 $ 17,934

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental payments for operating leases	The future minimum payments under non-cancelable leases we are obligated to make as of December 31, 2017 are as follows ($ in thousands): 2018 $ 175 2019 175 2020 172 2021 120 2022 and thereafter 67 $ 709

Related-party Transactions (Tab

Related-party Transactions (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related party transactions	The following table presents our significant transactions with Front Yard, which is a related party, for the periods indicated ($ in thousands): Year Ended December 31, 2017 2016 2015 Base management fees (1) $ 16,010 $ 17,334 $ 13,935 Conversion fees (1) 1,291 1,841 1,037 Expense reimbursements (1) 859 816 750 Incentive management fees (1) — — 7,994 Professional fee sharing for negotiation of the AMA (1) — — 2,000 _______________ (1) Prior to January 1, 2016, we eliminated these transactions upon consolidation (see Note 1 ).

Incentive Compensation and Sh23

Incentive Compensation and Share-based Payments (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of share-based compensation, shares reserved for future issuance	The following table sets forth the number of shares of common stock reserved for future issuance. We may issue new shares or issue shares from treasury shares upon the exercise of stock options or the vesting of restricted stock. December 31, 2017 Stock options outstanding 29,450 Possible future issuances under equity incentive plan 81,862 111,312
Schedule of share-based compensation, stock options, activity	The following table sets forth the activity of our outstanding options: Number of Options Weighted Average Exercise Price per Share December 31, 2014 239,060 $ 1.10 Exercised (54,261 ) 1.35 Forfeited or canceled (3,097 ) 4.14 December 31, 2015 181,702 0.98 Exercised (39,396 ) 0.80 Forfeited or canceled (939 ) 3.67 December 31, 2016 141,367 1.01 Exercised (111,917 ) 0.75 December 31, 2017 29,450 $ 2.01
Schedule of share-based compensation, restricted stock and restricted stock units activity	The following table sets forth the activity of our restricted stock: Number of Shares Weighted Average Grant Date Fair Value December 31, 2014 175,489 $ 90.51 Granted 53,531 174.34 Vested (1) (51,305 ) 11.53 Forfeited or canceled (23,389 ) 6.65 December 31, 2015 154,326 158.84 Granted 11,119 19.31 Vested (1) (40,566 ) 13.34 December 31, 2016 124,879 193.17 Granted 22,206 79.60 Vested (1) (65,576 ) 79.45 December 31, 2017 81,509 $ 253.72 _____________ (1) The vesting date fair value of restricted stock that vested during the years ended December 31, 2017 , 2016 and 2015 was $5.1 million , $0.6 million and $11.6 million , respectively.
Share-based payments, other than stock options, valuation assumptions	The fair value of restricted stock granted was determined using the following assumptions, weighted by number of shares: Year ended December 31, 2015 Risk free interest rate (1) 2.89% to 3.27% Common stock dividend yield (2) 0% Expected volatility (3) 92.04% to 96.46% _____________ (1) Represents the interest rate as of the grant date on US treasury bonds having the same life as the estimated life of the restricted stock grants. (2) At the date of grant, we had no history of dividend payments. (3) Based on the historical volatility of comparable companies, adjusted for our expected additional cash flow volatility.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The following table sets forth the components of income (loss) before income taxes: Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 U.S. Virgin Islands $ (7,259 ) $ (3,721 ) $ (1,249 ) Other 998 492 (1,687 ) Loss before income taxes $ (6,261 ) $ (3,229 ) $ (2,936 )
Schedule of Deferred Tax Assets and Liabilities	The following table sets forth the components of our deferred tax assets: December 31, 2017 December 31, 2016 Deferred tax assets: Stock compensation $ 374 $ 880 Accrued expenses 550 475 Available-for-sale securities 307 1,027 Net operating losses 114 — Other 29 21 1,374 2,403 Deferred tax liability: Depreciation 14 5 1,360 2,398 Valuation allowance (828 ) (2,377 ) Deferred tax asset, net $ 532 $ 21
Schedule of Effective Income Tax Rate Reconciliation	The following table sets forth the reconciliation of the statutory USVI income tax rate to our effective income tax rate: Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 U.S. Virgin Islands income tax rate 38.5 % 38.5 % 38.5 % State and local income tax rates (0.1 ) — 4.7 Excluded REIT income — — 2.6 EDC benefits in the USVI (45.1 ) (50.7 ) (0.7 ) Foreign tax rate differential 0.3 (1.2 ) (3.5 ) Permanent and other (4.6 ) 2.1 (1.7 ) Valuation allowance — (41.5 ) (40.6 ) Effective income tax rate (1) (11.0 )% (52.8 )% (0.7 )% ________________ (1) Prior to our deconsolidation of Front Yard effective January 1, 2016, our effective tax rate included the activities of Front Yard.

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Schedule of components of diluted earnings per share	The following table sets forth the components of diluted loss per share (in thousands, except share and per share amounts): Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 Numerator Net loss attributable to stockholders $ (6,969 ) $ (4,935 ) $ (3,290 ) Amortization of preferred stock issuance costs (206 ) (207 ) (206 ) Numerator for basic and diluted EPS - loss attributable to common stockholders $ (7,175 ) $ (5,142 ) $ (3,496 ) Denominator Weighted average common stock outstanding – basic 1,570,428 1,752,302 2,202,815 Weighted average common stock outstanding – diluted 1,570,428 1,752,302 2,202,815 Loss per basic share $ (4.57 ) $ (2.93 ) $ (1.59 ) Loss per diluted share $ (4.57 ) $ (2.93 ) $ (1.59 )
Schedule of antidilutive securities excluded from computation of earnings per share	We excluded the items presented below from the calculation of diluted earnings per share as they were antidilutive for the periods indicated: Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 Numerator Amortization of preferred stock issuance costs $ 206 $ 207 $ 206 Denominator Stock options 57,488 165,983 222,566 Restricted stock 38,424 40,476 85,121 Preferred stock, if converted 200,000 200,000 200,000

Quarterly Financial Informati26

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of segment reporting	The following tables set forth our quarterly financial information (unaudited, $ in thousands except per share amounts): 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Total revenues $ 5,011 $ 4,643 $ 4,429 $ 4,077 $ 18,160 Net loss attributable to stockholders (1,318 ) (1,742 ) (2,125 ) (1,784 ) (6,969 ) Loss per share of common stock – basic (0.89 ) (1.15 ) (1.38 ) (1.15 ) (4.57 ) Loss per share of common stock – diluted (0.89 ) (1.15 ) (1.38 ) (1.15 ) (4.57 ) 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Total revenues $ 4,526 $ 5,407 $ 4,854 $ 5,204 $ 19,991 Net loss attributable to stockholders (940 ) (1,261 ) (1,071 ) (1,663 ) (4,935 ) Loss per share of common stock – basic (0.50 ) (0.74 ) (0.67 ) (1.09 ) (2.93 ) Loss per share of common stock – diluted (0.50 ) (0.74 ) (0.67 ) (1.09 ) (2.93 )

Organization and Basis of Pre27

Organization and Basis of Presentation - Additional Information (Details)	Apr. 01, 2015extension	Feb. 28, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2017USD ($)servicerservice_provider$ / sharesshares	Jan. 05, 2017shares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 29, 2016series_of_preferred_stockshares	May 26, 2016$ / shares
Organization and Basis of Presentation [Line Items]
Preferred stock, shares issued | shares				250,000	250,000	900	250,000
Proceeds from issuance of convertible preferred stock				$ 250,000,000
Redemption price per share | $ / shares				$ 1,000
Conversion price per share (usd per share) | $ / shares				$ 1,250
Convertible securities, conversion ratio				0.8
Preferred stock, par value (usd per share) | $ / shares					$ 0.01		$ 0.01		$ 0.01
Number of additional series of preferred stock authorized | series_of_preferred_stock								14
Number of shares each new series of preferred stock authorizes | shares								1,000
Accounts payable and accrued liabilities					$ 2,085,000		$ 4,587,000
Preferred stock cash dividends			$ 600,000
Subsequent event
Organization and Basis of Presentation [Line Items]
Preferred stock cash dividends		$ 900,000
Preferred stock
Organization and Basis of Presentation [Line Items]
Accounts payable and accrued liabilities					$ 9,000
Affiliated entity | Asset Management Agreement (AMA) | Front Yard
Organization and Basis of Presentation [Line Items]
Asset management agreement, term	15 years
Number of potential renewal extensions | extension	2
Automatic renewal term	5 years
Front Yard
Organization and Basis of Presentation [Line Items]
Number of third-party service providers | service_provider					2
Number of mortgage servicers | servicer					2

Organization and Basis of Pre28

Organization and Basis of Presentation - New accounting pronouncement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in cash, cash equivalents and restricted cash	$ 0	$ 137,268	$ 0
Cumulative effect of adoption of ASU			(1,148,341)
Accumulated Other Comprehensive Loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of ASU			(981)
Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in cash, cash equivalents and restricted cash		$ 20,600
Accounting Standards Update 2016-01 | Accumulated Other Comprehensive Loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of ASU	$ (1,300)
Reclassification adjustment | Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in restricted cash			$ 7,300

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2017USD ($)
Property, Plant and Equipment [Line Items]
Authorized amount of stock to repurchase	$ 300,000,000
Minimum
Property, Plant and Equipment [Line Items]
Property useful life	3 years
Term of leases offered to lessees	1 year
Minimum | Front Yard
Property, Plant and Equipment [Line Items]
Property useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property useful life	5 years
Term of leases offered to lessees	2 years
Maximum | Front Yard
Property, Plant and Equipment [Line Items]
Property useful life	27 years 6 months

Fair Value of Financial Instr30

Fair Value of Financial Instruments - Narrative (Details) - Common Stock - Front Yard - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investment Holdings [Line Items]
Shares acquired (in shares)	1,624,465	1,624,465
Investment owned, ownership percentage	3.00%	3.00%
Dividend income on investment's common stock	$ 1	$ 1	$ 0.2
Additional shares acquired (shares)		1,300,000	324,465
Average purchase price per share of additional shares acquired (usd per share)		$ 11.97	$ 15.41

Fair Value of Financial Instr31

Fair Value of Financial Instruments - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities (Front Yard common stock)	$ 19,266	$ 17,934
Fair value measurements, recurring | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities (Front Yard common stock)	19,266	17,934
Fair value measurements, recurring | Common Stock | Level 1, Quoted prices in active markets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities (Front Yard common stock)	19,266	17,934
Fair value measurements, recurring | Common Stock | Level 2, Observable inputs other than Level 1 prices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities (Front Yard common stock)	0	0
Fair value measurements, recurring | Common Stock | Level 3, Unobservable inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities (Front Yard common stock)	$ 0	$ 0

Fair Value of Financial Instr32

Fair Value of Financial Instruments - Unrealized gains (losses) (Details) - Common Stock - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	$ 20,596	$ 20,596
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,330	2,662
Fair Value	$ 19,266	$ 17,934

Commitments and Contingencies33

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 175
2,019	175
2,020	172
2,021	120
2022 and thereafter	67
Total future minimum lease payments due	$ 709

Related-party Transactions - Na

Related-party Transactions - Narrative (Details)	Apr. 01, 2015extension	Mar. 31, 2015property	Dec. 31, 2017	Sep. 22, 2015	Sep. 30, 2014USD ($)
Related party transaction [Line Items]
Maturity term, US treasury security		10 years
Securities sold under agreement to repurchase | $					$ 15,000,000
Repurchase Agreement NewSource
Related party transaction [Line Items]
Securities sold under agreement to repurchase, yield				5.00%
Altisource Asset Management Corporation | Affiliated entity
Related party transaction [Line Items]
Base management fee, percent of qualified average invested capital		1.50%
Incentive management fee, return on invested capital, annual rate			1.75%
Aggregate return shortfall of invested capital			55.82%
Conversion fee, percent of market value of new rental properties		1.50%
Incentive management fee, percent of incentive fee payable in common stock		25.00%
Altisource Asset Management Corporation | Affiliated entity | Asset management fee, threshold one
Related party transaction [Line Items]
Incentive management fee, percent of average invested capital		25.00%
Base management fee, number of rental properties cap		2,500
Incentive management fee, percent of invested capital in excess of threshold		20.00%
Altisource Asset Management Corporation | Affiliated entity | Asset management fee, threshold two
Related party transaction [Line Items]
Incentive management fee, percent of average invested capital		1.75%
Base management fee, number of rental properties floor		2,500
Incentive management fee, number of rental properties cap		4,499
Incentive management fee, number of rental properties floor		2,500
Incentive management fee, percent of invested capital in excess of threshold		22.50%
Altisource Asset Management Corporation | Affiliated entity | Asset management fee, threshold three
Related party transaction [Line Items]
Incentive management fee, percent of average invested capital		2.00%
Incentive management fee, number of rental properties floor		4,500
Incentive management fee, percent of invested capital in excess of threshold		25.00%
Altisource Asset Management Corporation | Affiliated entity | Asset Management Agreement (AMA)
Related party transaction [Line Items]
Automatic renewal term	5 years
Contract term		15 years
Front Yard | Affiliated entity
Related party transaction [Line Items]
Period in fiscal years return on invested equity capital evaluated per agreement	2 years
Front Yard | Affiliated entity | Asset Management Agreement (AMA)
Related party transaction [Line Items]
Number of potential renewal extensions | extension	2
Automatic renewal term	5 years
Minimum | Altisource Asset Management Corporation | Affiliated entity
Related party transaction [Line Items]
Incentive management fee, return on invested capital, annual rate		7.00%
Incentive management fee, return on invested capital, quarterly rate		1.75%
Minimum | Front Yard | Affiliated entity
Related party transaction [Line Items]
Incentive management fee, return on invested capital, annual rate	7.00%
Maximum | Altisource Asset Management Corporation | Affiliated entity
Related party transaction [Line Items]
Incentive management fee, return on invested capital, annual rate		8.25%
Incentive management fee, return on invested capital, quarterly rate		2.06%

Related-party Transactions - Re

Related-party Transactions - Related party expenses (Details) - Affiliated entity - Front Yard - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Base management fee
Related party transaction [Line Items]
Related party expenses	$ 16,010	$ 17,334	$ 13,935
Conversion fee
Related party transaction [Line Items]
Related party expenses	1,291	1,841	1,037
Expense reimbursement
Related party transaction [Line Items]
Related party expenses	859	816	750
Incentive management fee
Related party transaction [Line Items]
Related party expenses	0	0	7,994
Professional fee sharing for negotiation of AMA
Related party transaction [Line Items]
Related party expenses	$ 0	$ 0	$ 2,000

Incentive Compensation and Sh36

Incentive Compensation and Share-based Payments - Long-Term Incentive Compensation (Details)	12 Months Ended
	Dec. 31, 2017
Share-based compensation arrangement by share-based payment award [Line Items]
Scorecard weighting	80.00%
Personal evaluation weighting	20.00%
Maximum
Share-based compensation arrangement by share-based payment award [Line Items]
Non-equity incentive compensation percentage	100.00%
Minimum
Share-based compensation arrangement by share-based payment award [Line Items]
Non-equity incentive compensation percentage	50.00%

Incentive Compensation and Sh37

Incentive Compensation and Share-based Payments - Schedule of shares reserved for future issuance (Details)	Dec. 31, 2017shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock options outstanding	29,450
Possible future issuances under equity incentive plan	81,862
Common stock reserved for future issuance	111,312
Common stock, shares available to be issued under charter	2,184,878

Incentive Compensation and Sh38

Incentive Compensation and Share-based Payments - Schedule of stock option activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of Options
Ending balance (in options)	29,450
Stock options
Number of Options
Beginning balance (in options)	141,367	181,702	239,060
Exercised (in options)	(111,917)	(39,396)	(54,261)
Forfeited or canceled (in options)		(939)	(3,097)
Ending balance (in options)	29,450	141,367	181,702
Weighted Average Exercise Price per Share
Beginning balance (usd per share)	$ 1.01	$ 0.98	$ 1.10
Exercised (usd per share)	0.75	0.80	1.35
Forfeited and canceled (usd per share)		3.67	4.14
Ending balance (usd per share)	$ 2.01	$ 1.01	$ 0.98
Number of exercisable options	29,450
Weighted average exercise price of exercisable options (usd per share)	$ 2.01
Weighted average remaining life of exercisable options (in years)	2 years 4 months
Intrinsic value of exercisable options	$ 2.3

Incentive Compensation and Sh39

Incentive Compensation and Share-based Payments - Restricted stock activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based compensation arrangement by share-based payment award [Line Items]
Value of restricted stock granted to directors annually	$ 60,000
Restricted stock, service period	1 year
Director attendance requirement	75.00%
Share-based compensation expense	$ 7,000,000	$ 9,600,000
Unrecognized stock compensation	$ 4,500,000	$ 9,600,000
Weighted average remaining amortization period of unamortized share based compensation (in years)	1 year 2 months	1 year 6 months
Tranche one
Share-based compensation arrangement by share-based payment award [Line Items]
Percentage of restricted stock grant			25.00%	25.00%
Compound annual gain percentage, common stock			20.00%	20.00%
Tranche two
Share-based compensation arrangement by share-based payment award [Line Items]
Percentage of restricted stock grant			50.00%	50.00%
Compound annual gain percentage, common stock			22.50%	22.50%
Tranche three
Share-based compensation arrangement by share-based payment award [Line Items]
Percentage of restricted stock grant			25.00%	25.00%
Compound annual gain percentage, common stock			25.00%	25.00%
Vesting tranche one
Share-based compensation arrangement by share-based payment award [Line Items]
Annual vesting percentage			25.00%	25.00%
Vesting tranche two
Share-based compensation arrangement by share-based payment award [Line Items]
Annual vesting percentage			75.00%	75.00%
Restricted stock
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	22,206	11,119	53,531
Weighted average grant date fair value of grants in period (usd per share)	$ 79.60	$ 19.31	$ 174.34
Number of Shares
Beginning balance (shares)	124,879	154,326	175,489
Granted (shares)	22,206	11,119	53,531
Vested (shares)	(65,576)	(40,566)	(51,305)
Forfeited and canceled (shares)			(23,389)
Ending balance (shares)	81,509	124,879	154,326	175,489
Weighted Average Grant Date Fair Value
Beginning balance (usd per share)	$ 253.72	$ 193.17	$ 158.84	$ 90.51
Granted (usd per share)	79.60	19.31	174.34
Vested (usd per share)	79.45	13.34	11.53
Forfeited and canceled (usd per share)			6.65
Ending balance (usd per share)	$ 253.72	$ 193.17	$ 158.84	$ 90.51
Vesting date fair value of restricted stock that vested	$ 5,100,000	$ 600,000	$ 11,600,000
Restricted stock | Management
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	20,205	0
Weighted average grant date fair value of grants in period (usd per share)	$ 78.58
Number of Shares
Granted (shares)	20,205	0
Weighted Average Grant Date Fair Value
Granted (usd per share)	$ 78.58
Restricted stock | The 2013 Director Equity Plan
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares)	2,001	11,119
Weighted average grant date fair value of grants in period (usd per share)	$ 89.93	$ 19.31
Number of Shares
Granted (shares)	2,001	11,119
Weighted Average Grant Date Fair Value
Granted (usd per share)	$ 89.93	$ 19.31

Incentive Compensation and Sh40

Incentive Compensation and Share-based Payments - Restricted stock, valuation assumptions (Details) - Restricted stock - Employee	12 Months Ended
	Dec. 31, 2015
Schedule of share-based payment, other than stock options, valuation assumptions [Line Items]
Common stock dividend yield	0.00%
Minimum
Schedule of share-based payment, other than stock options, valuation assumptions [Line Items]
Risk free interest rate	2.89%
Expected volatility	92.04%
Maximum
Schedule of share-based payment, other than stock options, valuation assumptions [Line Items]
Risk free interest rate	3.27%
Expected volatility	96.46%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income tax exemption, percentage	90.00%
Unrecognized tax benefit, interest and penalties expensed	$ 0	$ 0
Unrecognized tax benefit, interest and penalties accrued	$ 0	$ 0

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income by Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of income by jurisdiction [Line Items]
Income (loss) before income taxes	$ (6,261)	$ (3,229)	$ (2,936)
U.S. Virgin Islands
Schedule of income by jurisdiction [Line Items]
Income (loss) before income taxes	(7,259)	(3,721)	(1,249)
Other
Schedule of income by jurisdiction [Line Items]
Income (loss) before income taxes	$ 998	$ 492	$ (1,687)

Income Taxes - Schedule of defe

Income Taxes - Schedule of deferred taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Stock compensation	$ 374	$ 880
Accrued expenses	550	475
Available-for-sale securities	307	1,027
Net operating losses	114	0
Other	29	21
Deferred tax asset, gross	1,374	2,403
Deferred tax liability:
Depreciation	14	5
Deferred tax assets, net	1,360	2,398
Valuation allowance	(828)	(2,377)
Deferred tax asset, net	$ 532	$ 21

Income Taxes - Rate reconciliat

Income Taxes - Rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
U.S. Virgin Islands income tax rate	38.50%	38.50%	38.50%
State and local income tax rates	(0.10%)	0.00%	4.70%
Excluded REIT income	(0.00%)	(0.00%)	2.60%
EDC benefits in the USVI	(45.10%)	(50.70%)	(0.70%)
Foreign tax rate differential	0.30%	(1.20%)	(3.50%)
Permanent and other	(4.60%)	2.10%	(1.70%)
Valuation allowance	0.00%	(41.50%)	(40.60%)
Effective income tax rate	(11.00%)	(52.80%)	(0.70%)

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net loss attributable to stockholders	$ (1,784)	$ (2,125)	$ (1,742)	$ (1,318)	$ (1,663)	$ (1,071)	$ (1,261)	$ (940)	$ (6,969)	$ (4,935)	$ (3,290)
Amortization of preferred stock issuance costs									(206)	(207)	(206)
Net loss attributable to common stockholders									$ (7,175)	$ (5,142)	$ (3,496)
Weighted average common stock outstanding – basic (in shares)									1,570,428	1,752,302	2,202,815
Weighted average common stock outstanding – diluted (in shares)									1,570,428	1,752,302	2,202,815
Loss per share of common stock - basic (usd per share)	$ (1.15)	$ (1.38)	$ (1.15)	$ (0.89)	$ (1.09)	$ (0.67)	$ (0.74)	$ (0.50)	$ (4.57)	$ (2.93)	$ (1.59)
Loss per share of common stock - diluted (usd per share)	$ (1.15)	$ (1.38)	$ (1.15)	$ (0.89)	$ (1.09)	$ (0.67)	$ (0.74)	$ (0.50)	$ (4.57)	$ (2.93)	$ (1.59)
Amortization of preferred stock issuance costs									$ 206	$ 207	$ 206
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS calculation									57,488	165,983	222,566
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS calculation									38,424	40,476	85,121
Preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS calculation									200,000	200,000	200,000

Quarterly Financial Informati46

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 4,077	$ 4,429	$ 4,643	$ 5,011	$ 5,204	$ 4,854	$ 5,407	$ 4,526	$ 18,160	$ 19,991	$ 248,099
Net loss attributable to stockholders	$ (1,784)	$ (2,125)	$ (1,742)	$ (1,318)	$ (1,663)	$ (1,071)	$ (1,261)	$ (940)	$ (6,969)	$ (4,935)	$ (3,290)
Loss per share of common stock - basic (usd per share)	$ (1.15)	$ (1.38)	$ (1.15)	$ (0.89)	$ (1.09)	$ (0.67)	$ (0.74)	$ (0.50)	$ (4.57)	$ (2.93)	$ (1.59)
Loss per share of common stock - diluted (usd per share)	$ (1.15)	$ (1.38)	$ (1.15)	$ (0.89)	$ (1.09)	$ (0.67)	$ (0.74)	$ (0.50)	$ (4.57)	$ (2.93)	$ (1.59)

Subsequent Events (Details)

Subsequent Events (Details) - Restricted stock - $ / shares	Feb. 20, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Number of shares granted (in shares)		22,206	11,119	53,531
Weighted average grant date fair value of grants in period (usd per share)		$ 79.60	$ 19.31	$ 174.34
Management
Subsequent Event [Line Items]
Number of shares granted (in shares)		20,205	0
Weighted average grant date fair value of grants in period (usd per share)		$ 78.58
Subsequent event | Management
Subsequent Event [Line Items]
Number of shares granted (in shares)	25,074
Weighted average grant date fair value of grants in period (usd per share)	$ 64.05