Altisource Residential Corporation (Residential or the Company) announced that it has entered into a new Asset Management Agreement (AMA) with Altisource Asset Management Corporation (AAMC). The company announced that its Board of Directors has declared a quarterly cash dividend of $0.55 per share of common stock. Residential will pay this quarterly dividend on April 23, 2015 to all stockholders of record as of the close of business on April 13, 2015.

In addition, the company announced the appointment of George G. Ellison as President of the company, effective immediately. Ashish Pandey will continue to serve as the company's Chief Executive Officer. Mr. Ellison also serves as the Chief Executive Officer of AAMC. Prior to joining AAMC, Mr. Ellison had been employed for 19 years at Bank of America and its predecessor, Nationsbank. Prior to his most recent roles, Mr. Ellison was Global Head of the Structured Products division within Bank of America's Investment Banking platform. His responsibilities involved all Structured Products including RMBS, ABS, ABCP Conduit and CMBS securities, among others.