on January 15, 2016, the Board of Directors of Altisource Residential Corporation appointed Michael G. Lubin, as General Counsel and Secretary of the Company, effective January 18, 2015. Mr. Lubin will serve as a Senior Vice President of Altisource Asset Management Corporation, with his primary duties being to serve as the Company's General Counsel and Secretary. Prior to joining the Company, Mr. Lubin served as Senior Vice President and General Counsel of Home Loan Servicing Solutions Ltd. from March 2014 to December 2015.

Effective upon Mr. Lubin's appointment, Stephen H. Gray, the Company's former General Counsel and Secretary, was appointed as the Company's Chief Administrative Officer and Senior Counsel. Mr. Gray will continue to serve as the General Counsel and Secretary of AAMC.