☐

Rule 13d-1(b)

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Rule 13d-1(c)

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Rule 13d-1(d)

 

CUSIP No. 02153X108          

 

 

13G

 

 

Page 2 of 7 Pages

 

 

1

 

 

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

Boston Provident, L.P.

 

2

 

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐

(b)  ☒

 

 

 

3

 

 

SEC USE ONLY

 

 

 

 

4

 

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED

BY
EACH
REPORTING
PERSON

WITH

 

 

5

 

 

SOLE VOTING POWER

 

0

 

 

6

 

 

SHARED VOTING POWER

 

4,401

 

 

 

 

7

 

 

SOLE DISPOSITIVE POWER

 

0

 

 

8

 

 

SHARED DISPOSITIVE POWER

 

4,401

 

 

9

 

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

4,401

 

 

10

 

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

N/A

 

 

 

11

 

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

0.3%

 

 

12

 

 

TYPE OF REPORTING PERSON*

 

PN

 

 

CUSIP No. 02153X108          

 

 

13G

 

 

Page 3 of 7 Pages

 

 

1

 

 

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

Orin S. Kramer

 

 

2

 

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐

(b)  ☒          

 

 

 

3

 

 

SEC USE ONLY

 

 

 

 

4

 

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED

BY
EACH
REPORTING
PERSON

WITH

 

 

5

 

 

SOLE VOTING POWER

 

11,456

 

 

6

 

 

SHARED VOTING POWER

 

4,401

 

7

 

 

SOLE DISPOSITIVE POWER

 

11,456

 

 

8

 

 

SHARED DISPOSITIVE POWER

 

4,401

 

 

9

 

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

15,857

 

 

10

 

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

N/A

 

 

 

11

 

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

1.0%

 

 

12

 

 

TYPE OF REPORTING PERSON*

 

IN

 

Item 1(a)

Name of Issuer:

Altisource Asset Management Corporation (the “Company”)

Item 1(b)

Address of Issuer’s Principal Executive Offices:

36C Strand Street

Christiansted, United States Virgin Islands 00820

.

Items 2(a)

Name of Person Filing:

This statement is filed by:  (i) Boston Provident, L.P., a Delaware limited partnership (the “General Partner”), with respect to shares of common stock (the “Shares”) of the Company held by Boston Provident Partners, L.P., a Delaware limited partnership (the “BP Fund”), and (ii) Orin S. Kramer, a United States citizen, with respect to Shares beneficially owned by him and the General Partner.  The foregoing persons are hereinafter sometimes collectively referred to as the “Reporting Persons.”  Any disclosure herein with respect to persons other than the Reporting Persons is made on information and belief after making inquiry to the appropriate party.

The General Partner and Mr. Kramer have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Act.

Item 2(b)

Address of Principal Business Office:

261 Glenwood Road

Englewood, New Jersey 06731

Item 2(c)

Citizenship:

The General Partner is organized under the laws of the State of Delaware.  Mr. Kramer is a citizen of the United States.

Item 2(d)

Title of Class of Securities:

Common stock, $0.01 par value (“Common Stock”)

Item 2(e)

CUSIP Number:

02153X108

Item 3

Not Applicable

Item 4

Ownership:

The percentages used herein are calculated based upon the 1,579,722 shares of Common Stock issued and outstanding as of October 28, 2016 as reported on the Company’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission for the fiscal quarter ended September 30, 2016.

As of the close of business on December 31, 2016:

1. Boston Provident, L.P.

(a) Amount beneficially owned: 4,401

(b) Percent of class: 0.3%

(c)(i) Sole power to vote or direct the vote: -0-

(ii) Shared power to vote or direct the vote: 4,401

(iii) Sole power to dispose or direct the disposition: -0-

(iv) Shared power to dispose or direct the disposition: 4,401

2. Orin S. Kramer

(a) Amount beneficially owned: 15,857

(b) Percent of class: 1.0%

(c)(i) Sole power to vote or direct the vote: 11,456

(ii) Shared power to vote or direct the vote: 4,401

(iii) Sole power to dispose or direct the disposition: 11,456

(iv) Shared power to dispose or direct the disposition: 4,401

The General Partner does not directly own any Shares.  By virtue of the General Partner’s position as general partner of the BP Fund, the General Partner maintains voting power and investment power with respect to the Shares held by the BP Fund.  Mr. Kramer controls the General Partner and also maintains sole voting power and investment power with respect to 8,700 Shares held for his own account and 2,756 Shares held for the accounts of his children.  Each of the General Partner and Mr. Kramer disclaim beneficial ownership of any of the securities covered by this statement.

Item 5

Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following:

Item 6

Ownership of More than Five Percent on Behalf of Another Person:

Not Applicable

Item 7

Identification and Classification of the

Subsidiary Which Acquired the Security Being

Reported on By the Parent Holding Company:

Not Applicable

Item 8

Identification and Classification of Members of the Group:

Not Applicable

Item 9

Notice of Dissolution of Group:

Not Applicable

Item 10

Certification: