0001555074-22-000018 | 10-K | XBRL Viewer | Altisource Asset Management Corp

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Discontinued Operations - Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Total operating cash flows from discontinued operations	$ 5,439	$ 37,798
Total investing cash flows from discontinued operations	511	3,643
Total financing cash flows (used in) from discontinued operations	$ 80	$ (1,010)

Discontinued Operations

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

3. Discontinued Operations

Our primary client prior to December 31, 2020 had been Front Yard 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 revenue for all periods presented prior to December 31, 2021 was generated through our asset management agreements with Front Yard.

On August 13, 2020, AAMC and Front Yard entered into a Termination and Transition Agreement (the “Termination Agreement”), pursuant to which the Company and Front Yard have agreed to effectively internalize the asset management function of Front Yard. The Termination Agreement provided that the Amended AMA would terminate following a transition period to enable the internalization of Front Yard’s asset management function, allow for the assignment of certain vendor contracts and implement the transfer of certain employees to Front Yard and the training of required replacement employees at each company. The transition period ended at the close of business, December 31, 2020, the time that AAMC and Front Yard mutually agreed that all required transition activities have been successfully completed (the “Termination Date”). On the Termination Date, the Amended AMA terminated, and AAMC will no longer provide services to Front Yard under the Amended AMA. Below are the material terms of the Termination Agreement:

•Front Yard paid AAMC an aggregate termination fee of $46.0 million (the “Termination Fee”), consisting of the following payments:

◦$15.0 million paid in cash to AAMC on August 17, 2020,

◦$15.0 million paid in cash on the Termination Date, and

◦$16.0 million paid in Front Yard common stock on the Termination Date.

•Front Yard acquired the equity interests of AAMC's Indian subsidiary, the equity interests of AAMC's Cayman Islands subsidiary, the right to solicit and hire designated AAMC employees that currently oversee the management of Front Yard's business and other assets of AAMC that are used in connection with the operation of Front Yard's business (the “Transferred Assets”) for an aggregate purchase price of $8.2 million ($3.2 million of which was paid in cash to AAMC on August 17, 2020), and the remaining $5.0 million was paid in Front Yard common stock on the Termination Date.

•On the Termination Date, in satisfaction of the amounts payable in Front Yard stock, we received (2,923,166) shares of Front Yard common stock. We recorded a nominal gain on the shares received.

•On the Termination Date, AAMC assigned its office lease in Charlotte, North Carolina. Certain assets related to the lease, primarily office and employee-related equipment were written off, none of which were individually material, and were recorded through other income (loss) in the Consolidated Statements of Income.

•AAMC and Front Yard completed the transition contemplated by the Termination and Transition Agreement, dated August 13, 2020.

We have evaluated the nature of the services provided to Front Yard in exchange for the Termination Fee and have determined that such services constitute a series of distinct services that should be accounted for as a single performance obligation completed over time, which is simultaneously performed by us and consumed by Front Yard, and the Termination Fee was recognized through the Termination Date of December 31, 2020.

During the third quarter of 2020, we received an upfront payment of $3.2 million of the $8.2 million aggregate purchase price of the Transferred Assets. In the fourth quarter of 2020, we received a payment of the remaining $5.0 million, in Front Yard common stock, of the aggregate purchase price of the Transferred Assets in advance of the sale of shares. We have included these upfront payments within accounts payable and accrued liabilities in our condensed consolidated balance sheet.

We have concluded that the Transferred Assets meets the held-for-sale criteria and have therefore classified the Transferred Assets as held for sale on our condensed consolidated balance sheet at December 31, 2020. The termination of the Amended AMA and the sale of the Transferred Assets also represents a significant strategic shift that will have a major effect on our

operations and financial results. Therefore, we have classified the results of operations related to Front Yard as discontinued operations in our condensed consolidated statements of operations.

On August 13, 2020, AAMC and Front Yard entered into Termination and Transition Agreement, pursuant to which Front Yard agreed to effectively internalize the asset management function of Front Yard. Pursuant to the agreement, Front Yard acquired the equity interests of AAMC's Indian subsidiary, the equity interests of AAMC's Cayman Islands subsidiary, the right to solicit and hire designated AAMC employees that oversaw the management of Front Yard's business and other assets of AAMC that were used in connection with the operation of Front Yard's business.

On December 31, 2020, in connection with the Termination Agreement, the company completed the assignment of our lease in Charlotte, North Carolina to Front Yard. Additionally, on December 31, 2020, we completed the sale of our Cayman Islands subsidiary.

On January 1, 2021, in connection with the Termination Agreement, the company completed the sale of our India subsidiary.

The carrying value of major classes of assets and liabilities related to our discontinued operations that constitute the Disposal Group at December 31, 2021 and December 31, 2020 were as follows ($ in thousands):


	December 31, 2021		December 31, 2020
Current assets held for sale:
Cash and cash equivalents	$	—	$	184

Prepaid expenses and other assets	—		710
Total current assets held for sale	—		894

Non-current assets held for sale:
Right-of-use lease assets	—		1,612
Other non-current assets	—		367
Total non-current assets held for sale	—		1,979
Total assets held for sale	$	—	$	2,873

Current liabilities held for sale:
Accrued salaries and employee benefits	$	—	$	910
Accounts payable and accrued liabilities	—		300
Short-term lease liabilities	—		128
Total current liabilities held for sale	—		1,338

Non-current liabilities held for sale:
Non-current lease liabilities	—		1,599
Total non-current liabilities held for sale	—		1,599
Total liabilities held for sale	$	—	$	2,937

Discontinued operations includes (i) the management fee revenues generated under our asset management agreements with Front Yard, (ii) expense reimbursements from Front Yard and the underlying expenses, (iii) the results of operations of our India and Cayman Islands subsidiaries, (iv) the employment costs associated with certain individuals wholly dedicated to Front Yard and (v) the costs associated with our lease in Charlotte, North Carolina, that was assumed by Front Yard on December 31, 2020. The operating results of these items are presented in our Consolidated Statements of Operations as discontinued operations for all periods presented and revenues and expenses directly related to Discontinued Operations were eliminated from our ongoing operations.

The following table details the components comprising net income from our discontinued operations ($ in thousands):


	Year ended December 31,
	2021		2020
Revenues from discontinued operations:
Management fees from Front Yard	$	—	$	13,713
Termination fee from Front Yard	—		46,000

Expense reimbursements from Front Yard	—		2,867
Total revenues from discontinued operations	—		62,580

Expenses from discontinued operations:
Salaries and employee benefits	—		5,592
Legal and professional fees	—		256
General and administrative	—		1,521
Total expenses from discontinued operations	—		7,369

Other income (loss) from discontinued operations:
Gain on disposal	7,485		—
Other income (loss)	—		20
Total other income (loss) from discontinued operations	7,485		20

Net income from discontinued operations before income taxes	7,485		55,231
Loss on disposal of discontinued operations before income taxes	—		102
Income tax expense	1,272		588
Net income from discontinued operations	$	6,213	$	54,541

The following table details cash flow information related to our discontinued operations for the periods indicated ($ in thousands):


	Year ended December 31,
	2021		2020
Total operating cash flows from discontinued operations	$	5,439	$	37,798
Total investing cash flows from discontinued operations	511		3,643
Total financing cash flows (used in) from discontinued operations	80		(1,010)

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2019		2,897,177
Beginning balance at Dec. 31, 2019	$ (207,928)	$ 29	$ 44,646	$ 23,662	$ (33)	$ (276,232)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued under share-based compensation plans, net of employee tax withholdings (in shares)		69,030
Common shares issued under share-based compensation plans, net of employee tax withholdings	14	$ 1	13
Shares withheld for taxes upon vesting of restricted stock	(311)					(311)
Amortization of preferred stock issuance costs	(42)			(42)
Share-based compensation	1,915		1,915
Currency translation adjustments, net	(32)				(32)
Other - disposition	(15)			(15)
Net income (loss)	$ 39,821			39,821
Ending balance (in shares) at Dec. 31, 2020	1,650,212	2,966,207
Ending balance at Dec. 31, 2020	$ (166,578)	$ 30	46,574	63,426	(65)	(276,543)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued under share-based compensation plans, net of employee tax withholdings (in shares)		162,051
Common shares issued under share-based compensation plans, net of employee tax withholdings	(800)	$ 2	(2)
Shares withheld for taxes upon vesting of restricted stock	(27)					(27)
Amortization of preferred stock issuance costs	0
Share-based compensation	1,720		1,939			(219)
Currency translation adjustments, net	(6)				(6)
Acquisition and disposition of subsidiaries	153			28	125
Preferred stock conversion (in shares)		288,283
Preferred stock conversion	95,014	$ 2	95,012
Net income (loss)	$ (6,004)			(6,004)
Ending balance (in shares) at Dec. 31, 2021	2,055,561	3,416,541
Ending balance at Dec. 31, 2021	$ (76,528)	$ 34	$ 143,523	$ 57,450	$ 54	$ (277,589)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income by Jurisdiction

The following table sets forth the components of income (loss) from continuing operations before income taxes ($ in thousands):


	Year ended December 31,
	2021		2020
U.S. Virgin Islands	$	(8,879)	$	(15,841)
Other	(65)		1,890
Income (loss) before income taxes	$	(8,944)	$	(13,951)

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes from continuing operations is summarized as follows ($ in thousands):


	Year ended December 31,
	2021		2020
Current
Federal	$	4,378	$	(1,002)
State	—		—
International	203		(183)
Total current tax (benefit) expense	4,581		(1,185)
Deferred
Federal	(1,281)		1,420
State	—		—
International	(27)		534
Total deferred tax expense (benefit)	(1,308)		1,954
Total tax expense	$	3,273	$	769

Schedule of Deferred Tax Assets and Liabilities

The following table sets forth the components of our total deferred tax assets ($ in thousands):


	December 31, 2021		December 31, 2020
Deferred tax assets:
Stock compensation	$	2	$	64
Accrued expenses	24		171


Net operating losses (1)	637		285
Lease liabilities	14		491
Other	1		44

Gross deferred tax assets	678		1,055
Deferred tax liability:
Right-of-use lease assets	13		459
Investments	—		1,547
Depreciation	—		2
Other	—		5
Gross deferred tax liabilities	13		2,013
Net deferred tax (liability) asset before valuation allowance	665		(958)
Valuation allowance	(498)		(69)
Deferred tax (liability) asset, net	$	167	$	(1,027)

_____________

(1)Net operating loss (“NOL”) carry-forwards for tax years prior to 2018 expire in 2037. Beginning with 2018, NOLs are carried forward indefinitely.

Schedule of Effective Income Tax Rate Reconciliation

The following table sets forth the reconciliation of the statutory USVI income tax rate from continuing operations to our effective income tax rate:


	Year ended December 31,
	2021		2020
U.S. Virgin Islands income tax rate	23.1	%	23.1	%
State and local income tax rates	—		(0.1)

EDC benefits in the USVI	(48.2)		(33.0)
Foreign tax rate differential	(0.2)		(0.2)
Subpart F income	(18.5)		—
Permanent and other	(1.6)		(1.5)
Share-based compensation	(0.2)		(0.5)
Valuation allowance	(4.8)		(1.1)
Foreign Tax Credit	13.6		—
Other Adjustments / Rate difference on US NOL carryback	—		7.9
Effective income tax rate	(36.8)	%	(5.4)	%

Fair Value of Financial Instruments - Investment Gains/Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Gain (Loss) on Securities [Line Items]
Investment gains on securities sold during the period	$ 8,347	$ 0
Total change in fair value	8,493	(6,270)
Equity Securities
Gain (Loss) on Securities [Line Items]
Investment gains on securities sold during the period	8,347	0
Total change in fair value	8,347	0
Common Stock
Gain (Loss) on Securities [Line Items]
Change in unrealized losses during the period on securities held at the end of the end of the period	0	(6,270)
Investment gains on securities sold during the period	146	0
Total change in fair value	$ 146	$ (6,270)

Organization and Basis of Presentation	12 Months Ended
Organization and Basis of Presentation	Dec. 31, 2021
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,” “AAMC,” 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. In October 2013, we applied for and were granted registration by the Securities and Exchange Commission (the “SEC”) as a registered investment adviser under Section 203(c) of the Investment Advisers Act of 1940. We historically operated in a single segment focused on providing asset management and certain corporate governance services to investment vehicles. Our primary client was Front Yard 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. Our primary business prior to December 31, 2021 was to provide asset management and certain corporate governance services to institutional investors. On August 13, 2020, we entered into a Termination and Transition Agreement (the “Termination Agreement”) with Front Yard and Front Yard Residential L.P. (“FYR LP”) to terminate the Amended and Restated Asset Management Agreement, dated as of May 7, 2019 (the “Amended AMA”), by and among Front Yard, FYR LP and AAMC, and to provide for a transition plan to facilitate the internalization of Front Yard’s asset management function (the “Transition Plan”). The Termination Agreement was effective on December 31, 2020, the date that the parties mutually agreed that the Transition Plan had been satisfactorily completed (the “Termination Date”) and the Amended AMA was terminated in its entirety. For further information, please see Note 3 Related Parties Upon the Company’s prior business operations with Front Yard ceasing the first week of 2021, AAMC began a comprehensive search in 2021 to acquire an operating company with the proceeds received from the sale of its operations via the Termination Agreement. We are in the process of establishing and launching multiple new lines of business, a short-term investor loan aggregation and origination business and establishment of strategic relationships with real estate loan originators. These business lines leverage our history and experience in asset management, real estate investing and real estate operations. We have taken steps to reduce our annual operating expenses, including reductions in our physical office footprint and the optimization of our workforce. Though our potential new businesses are in the development stage, we expect that they will include asset management services, investments in real estate related assets or other businesses that will be augmented by our past experience. For further information, please see Note 14 - Subsequent Events. 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”). Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. All wholly owned subsidiaries are included, and all intercompany accounts and transactions have been eliminated. 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. Redeemable Preferred Stock Series A Convertible Preferred Stock in 2014 Private Placement Issuance During the first quarter of 2014, AAMC issued 250,000 shares of Series A Convertible Preferred Stock (the “Series A Shares”) for $250.0 million to institutional investors. Under the Certificate of Designations of the Series A Shares (the “Certificate”), we had the option to redeem all of the Series A Shares on March 15, 2020 and on each successive five-year anniversary of March 15, 2020 through March 15, 2040 with a final mandatory redemption date on March 15, 2044. In connection with these same redemption dates, each holder of our Series A Shares has the right to give notice requesting us to redeem all of the shares of Series A Shares held by such holder out of legally available funds. In accordance with the terms of the Certificate, if we have legally available funds to redeem all, but not less than all, of the Series A Shares requested to be redeemed on a redemption date, we will deliver to those holders who have requested redemption in accordance with the Certificate a notice of redemption. If we do not have legally available funds as of the redemption date to redeem all, but not less than all, of the Series A Shares requested to be redeemed on a redemption date, we will not provide a notice of redemption. The redemption right will be exercisable in connection with each redemption date every five years through March 15, 2040 until the mandatory redemption date in 2044. If we are required to redeem all of a holder’s Series A Shares, we are required to do so for cash at a price equal to $1,000 per share (the issuance price) out of legally available funds therefore. Due to the redemption provisions of the Series A Preferred Stock, we classify these shares as mezzanine equity, outside of permanent stockholders' equity. The holders of our Series A Shares are not entitled to receive dividends with respect to their Series A Shares. The Series A Shares 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 Series A Share), subject to certain anti-dilution adjustments. Upon certain change of control transactions or upon the liquidation, dissolution or winding up of the Company, holders of the Series A Shares will be entitled to receive an amount in cash per Series A Share 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 Series A Shares were convertible on each ex-dividend date for such dividends; and (ii) The number of shares of common stock into which the Series A Shares are then convertible multiplied by the then-current market price of the common stock. The Certificate 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 Shares 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 Shares rank senior to our common stock and on parity with all other classes of preferred stock that may be issued by us in the future. The Series A Shares are recorded net of issuance costs, which were amortized on a straight-line basis through the first potential redemption date in March 2020. Between January 31, 2020 and February 3, 2020, we received purported notices from all of the holders of our Series A Shares requesting us to redeem an aggregate of $250.0 million liquidation preference of our Series A Shares on March 15, 2020. We did not have legally available funds to redeem all of the Series A Shares on March 15, 2020. As a result, we do not believe, under the terms of the Certificate, that we were obligated to redeem any of the Series A Shares under the Certificate. Current Litigation –AAMC (plaintiff) v. Luxor (defendant) On January 27, 2020, AAMC filed a complaint for declaratory judgment relief in the Superior Court of the Virgin Islands, Division of St. Croix, against Luxor Capital Group, LP and certain of its funds and managed accounts (collectively, “Luxor”) regarding AAMC’s redemption obligations under the Certificate. Pursuant to the Certificate, holders of the Series A Shares are permitted on March 15, 2020 and on each successive five-year anniversary of March 15, 2020 to request AAMC, upon not less than 15 nor more than 30 business days’ prior notice, to redeem all but not less than all of their Series A Shares out of legally available funds. AAMC seeks a declaration that AAMC is not required to redeem any of Luxor’s Series A Shares on a redemption date if AAMC does not have legally available funds to redeem all of Luxor’s Series A Shares on such redemption date. Luxor has removed the action to the U.S District Court for the Virgin Islands, and, on March 24, 2020, AAMC moved to remand the action back to the Superior Court of the Virgin Islands, Division of St. Croix. That motion is fully briefed and pending decision. On May 15, 2020, Luxor moved to dismiss AAMC's declaratory judgment complaint. That motion has been fully briefed and submitted to the Court as of July 29, 2020. –Luxor (plaintiff) v. AAMC (defendant) On February 3, 2020, Luxor filed a complaint in the Supreme Court of the State of New York, County of New York, against AAMC for breach of contract, specific performance, unjust enrichment, and related damages and expenses. The complaint alleges that AAMC’s position that it will not redeem any of Luxor’s Series A Shares on the March 15, 2020 redemption date is a material breach of AAMC’s redemption obligations under the Certificate. Luxor seeks an order requiring AAMC to redeem its Series A Shares, recovery of no less than $144,212,000 in damages, which is equal to the amount Luxor would receive if AAMC redeemed all of Luxor’s Series A Shares at the redemption price of $1,000 per share set forth in the Certificate, as well as payment of its costs and expenses in the lawsuit. In the alternative, Luxor seeks a return of its initial purchase price of $150,000,000 for the Series A Shares, as well as payment of its costs and expenses in the lawsuit. On May 25, 2020, Luxor’s complaint was amended to add Putnam Equity Spectrum Fund and Putnam Capital Spectrum Fund (collectively, “Putnam”), which also invested in the Series A Shares, as plaintiff. On June 12, 2020, AAMC moved to dismiss the Amended Complaint in favor of AAMC’s first-filed declaratory judgment action in the U.S. Virgin Islands. On August 4, 2020, the court denied AAMC’s motion to dismiss. –Luxor Books and Records Demand On April 26, 2021, Luxor, sent a letter to the Company demanding, under the common law of the USVI, the right to inspect certain books and records of the Company (the “Demand”). According to Luxor, the purpose of the Demand is to investigate whether the Company’s Board of Directors may have considered or engaged in transactions with or at the direction of a significant shareholder of the Company or whether the Company’s Board of Directors and/or Company management may have mismanaged the Company or engaged in wrongdoing, may not have properly discharged their fiduciary duties, or may have conflicts of interest. Luxor further alleges that it seeks an inspection of the Company books and records to determine whether the current directors should continue to serve on the Company’s board or whether a derivative suit should be filed. On May 10, 2021, the Company sent a letter responding to the Demand and declining to provide the Company’s books and records for inspection (the “Response”). The Response states that Luxor does not have a credible basis for the Demand, which is required under the USVI common law; that, as preferred shareholders with no voting rights, Luxor’s purpose for the Demand is not reasonably related to Luxor’s interests as shareholders of the Company because Luxor cannot vote in connection with Board elections or business transactions of the Company; and that Luxor’s Demand serves only to personally benefit Luxor in its private suit against the Company. AAMC intends to continue to pursue its strategic business initiatives despite this litigation. If Luxor were to prevail in its lawsuit, we may need to cease or curtail our business initiatives and our liquidity could be materially and adversely affected Settlement Activities On February 17, 2021, the Company entered into a settlement agreement dated as of February 17, 2021 (the “Putnam Agreement”) with Putnam. Pursuant to the Putnam Agreement, AAMC and Putnam agreed to exchange all of Putnam’s 81,800 Series A Shares for 288,283 shares of AAMC’s common stock. AAMC agreed to pay to Putnam $1,636,000 within three business days of the effective date of the Putnam Agreement and $1,227,000 on the one-year anniversary of the effective date of the Putnam Agreement, and in return Putnam agreed to release AAMC from all claims related to the Series A Shares and enter into a voting rights agreement as more fully described in the Putnam Agreement. Finally, AAMC granted to Putnam a most favored nations provision with respect to future settlements of the Series A Shares. As a result of this settlement, we recognized a one-time gain directly to Additional paid in capital of $71.9 million. On August 27, 2021, the Company entered into a settlement agreement (the “Wellington Agreement”) with certain funds managed by Wellington Management Company LLP (collectively, “Wellington”). Under the Wellington Agreement, the Company agreed to pay Wellington $2,093,000 in exchange for 18,200 Series A Shares ($18.2 million of liquidation preference) held by Wellington, and in return Wellington agreed to release AAMC from all claims related to the Series A Shares. As a result of this settlement, we recognized a one-time gain directly to Additional paid in capital of $16.1 million gain. Subsequent to year end, on January 6, 2022, the Company entered into a settlement agreement dated as of January 6, 2022 (the "Settlement Agreement") with two institutional investors. Under the Settlement Agreement, the Company has agreed to pay the institutional investors approximately $665 thousand in cash in exchange for 5,788 Series A shares ($5.79 million of liquidation preference) held by the institutional investors. As a result of this settlement, the Company estimates that it will recognize a gain of approximately $5.1 million to Additional paid in capital in the first quarter of 2022. 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. We have issued shares of preferred stock under the Employee Preferred Stock Plan to certain of our 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. At December 31, 2021 and 2020, we had 1,200 and 1,100 and shares outstanding, respectively, and we included the redemption value of these shares of and $12,000 and $11,000 respectively, within accounts payable and accrued liabilities in our consolidated balance sheets. In January 2021, our Board of Directors declared and paid an aggregate of $1.6 million (in relation to the 2020 fiscal year) of dividends on these shares of preferred stock. Such dividends are included in salaries and employee benefits in our condensed consolidated statements of operations. Recently issued accounting standards Adoption of recent accounting standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) (“ASC 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. Accounting by lessors is substantially unchanged from prior practice as lessors will continue to recognize lease revenue on a straight-line basis. The FASB has also issued multiple ASUs amending certain aspects of Topic 842. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. 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 adopted this standard as of January 1, 2019 when the standard became effective and was required to be adopted. Consistent with the standard, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods prior to January 1, 2019. As mentioned above, the new standard provides a number of optional practical expedients in transition. We elected the “package of practical expedients,” which permits us not to reassess our prior conclusions about lease identification, lease classification and initial direct costs under the new standard. We did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter not being applicable to us. The new standard also provides practical expedients for an entity's ongoing accounting not to separate the lease and non-lease components, including common area maintenance, property taxes and insurance on our office leases that is paid along with rents. We elected the short-term lease exemption for all leases that qualify; as a result, we will not recognize right-of-use assets or lease liabilities for leases with a term of less than 12 months at inception. Upon our adoption of this standard, we recognized operating lease right-of-use assets of $2.8 million, lease liabilities of $2.8 million and a cumulative-effect adjustment to retained earnings of $(0.1) million. We have also provided the required incremental disclosures about our leasing activities on a prospective basis in Note 6. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments, which amends the guidance on measuring credit losses on financial assets held at amortized cost. ASU 2016-13, as amended, is intended to address the issue that the previous “incurred loss” methodology was restrictive for an entity's ability to record credit losses based on not yet meeting the “probable” threshold. The new language requires these assets to be valued at amortized cost presented at the net amount expected to be collected with a valuation provision. This ASU is effective for fiscal years beginning after December 15, 2019. The amendments in ASU 2016-13 should be applied on a modified retrospective transition basis. We adopted this standard as of January 1, 2020, and our adoption of the standard did not have a material impact on our consolidated financial statements. Recently issued accounting standards not yet adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021. We are currently evaluating the impact of this standard. In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments in this update apply only to contracts, hedging relationships, and other transactions that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. These amendments are not applicable to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. ASU No. 2020-04 is effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. We will adopt this standard when LIBOR is discontinued. We are evaluating the impact the new standard will have on our consolidated financial statements and related disclosures, but do not anticipate a material impact. Recent accounting pronouncements pending adoption not discussed above or in the 2020 Form 10-K are either not applicable or will not have, or are not expected to have a material impact on our consolidated financial position, results of operations, or cash flows.

Income Taxes - Schedule of Income by Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of income by jurisdiction [Line Items]
Income (loss) before income taxes	$ (8,944)	$ (13,951)
U.S. Virgin Islands
Schedule of income by jurisdiction [Line Items]
Income (loss) before income taxes	(8,879)	(15,841)
Other
Schedule of income by jurisdiction [Line Items]
Income (loss) before income taxes	$ (65)	$ 1,890

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Fair Value of Financial Instruments - Narrative (Details) - USD ($)		12 Months Ended
	Jan. 11, 2021	Dec. 31, 2021	Dec. 31, 2020
Investment Holdings [Line Items]
Proceeds from sale of interest in equity securities		$ 152,796,000	$ 0
Common Stock
Investment Holdings [Line Items]
Shares held of Front Yard (in shares)		0	2,923,000
Investment owned, shares sold (in shares)		2,923,000
Proceeds from sale of interest in equity securities		$ 47,500,000
Common Stock \| Front Yard
Investment Holdings [Line Items]
Shares held of Front Yard (in shares)			2,923,166
Investment owned, ownership percentage			4.90%
Investment owned, number of shares acquired through open market transactions (in shares)			1,624,465
Number of Front Yard shares acquired (in shares)			1,298,701
Investment owned, shares sold (in shares)	2,923,166
Equity Securities
Investment Holdings [Line Items]
Shares held of Front Yard (in shares)		0	0
Investment owned, shares sold (in shares)		8,123,000
Proceeds from sale of interest in equity securities		$ 105,300,000

Incentive Compensation and Share-based Payments - Schedule of Restricted Stock Activity (Details) - Restricted stock - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of Shares
Beginning balance (in shares)	129,380	111,757
Granted (in shares)	97,907	78,622
Vested (in shares)	(162,051)	(60,999)
Forfeited (in shares)	(50,000)
Ending balance (in shares)	15,236	129,380	111,757
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share)	$ 23.15	$ 24.32	$ 54.18
Granted (in USD per share)	25.77	14.75
Vested (usd per share)	14.50	66.70
Forfeited/expired (in USD per share)	14.35
Ending balance (in USD per share)	$ 23.15	$ 24.32	$ 54.18
Vesting date fair value of restricted stock that vested	$ 2.1	$ 1.1	$ 0.9

Earnings Per Share - Schedule of Components of Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator
Net loss from continuing operations	$ (12,217)	$ (14,720)
Amortization of preferred stock issuance costs	0	(42)
Gain on preferred stock transaction	87,961	0
Numerator for basic and diluted EPS from continuing operations – net income (loss) from continuing operations attributable to common stockholders	75,744	(14,762)
Net income from discontinued operations	6,213	54,541
Net income (loss)	(6,004)	39,821
Numerator for diluted EPS - (loss) income available to common stockholders after assumed conversions	$ 81,957	$ 39,779
Denominator
Weighted average common stock outstanding – basic (in shares)	2,002,111	1,631,326
Weighted average common stock outstanding – diluted (in shares)	2,162,378	1,631,326
Earnings (loss) per share of common stock – basic:
Continuing operations - basic ( in USD per share)	$ 37.83	$ (9.05)
Discontinued operations - basic (in USD per share)	3.11	33.43
Earnings (loss) per basic common share (in USD per share)	40.94	24.38
Earnings (loss) per share of common stock – diluted:
Continuing operations - diluted (in USD per share)	35.03	(9.05)
Discontinued operations - diluted (in USD per share)	2.87	33.43
Earnings (loss) per diluted common share (in USD per share)	$ 37.90	$ 24.38

Related-Party Transactions	12 Months Ended
Related-Party Transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	8. Related-Party Transactions Asset management agreement with Front Yard Pursuant to the Amended AMA, we designed and implemented Front Yard's business strategy, administered its business activities and day-to-day operations, and provided corporate governance services, subject to oversight by Front Yard's Board of Directors. We were responsible for, among other duties: (1) performing and administering certain 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) overseeing Front Yard's renovation, leasing and property management of its SFR properties; (5) analyzing and executing sales of certain rental properties, REO properties and residential mortgage loans; (6) performing asset management duties and (7) performing corporate governance and other management functions, including financial, accounting and tax management services. Through December 31, 2020, we provided Front Yard with a management team and support personnel with substantial experience in the acquisition and management of residential properties. Our management also has significant corporate governance experience that enabled us to manage Front Yard's business and organizational structure efficiently. Under the Amended AMA, we had 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 an SFR business or (c) any other activity in which Front Yard engages. However, following the execution of the Termination Agreement, we are entitled to provide advisory or other services to businesses or entities in such competitive activities without Front Yard's prior consent. On August 13, 2020, AAMC and Front Yard entered into the Termination Agreement, pursuant to which they agreed to terminate the Amended AMA, thereby effectively internalizing the asset management function of Front Yard in exchange for payment of the Termination Fee and other consideration to AAMC. On December 31, 2020, AAMC and Front Yard completed the transition contemplated by the Termination and Transition Agreement. For a description of the Termination Agreement and its key terms, please see Note 1. Terms of the Amended AMA We and Front Yard entered into the Amended AMA on May 7, 2019 (the “Effective Date”). The Amended AMA amended and restated, in its entirety, the Former AMA. The Amended AMA had an initial term of five years and would renew automatically each year thereafter for an additional one-year term, subject in each case to the termination provisions further described below. The Amended AMA provided for a management fee structure that provides AAMC with a quarterly Base Management Fee and a potential annual Incentive Fee, each of which were dependent upon Front Yard's performance and were subject to potential downward adjustments and an aggregate fee cap. The Base Management Fee under the Amended AMA was subject to a quarterly minimum of $3,584,000. The Amended AMA also required that the Base Management Fee would increase commencing after Front Yard’s per share Adjusted AFFO (as defined in the Amended AMA) reaching $0.15 (“Additional Base Fees”). To date, we have earned no Additional Base Fees or Incentive Fees under the Amended AMA. Due to the termination of the Amended AMA pursuant to the Termination Agreement, and the completion of the transition period, we will no longer receive a Base Management Fee under the Amended AMA. We were responsible for all of our own costs and expenses other than the expenses related to compensation of Front Yard’s dedicated general counsel and, beginning in January 2020, certain specified employees who provided direct property management services to Front Yard. Front Yard and its subsidiaries paid their own costs and expenses, and, to the extent such Front Yard expenses were initially paid by us, Front Yard was and is required to reimburse us for such reasonable costs and expenses.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 78,349	$ 41,623
Front Yard common stock, at fair value	0	47,355
Receivable from Front Yard	0	3,414
Prepaid expenses and other assets	1,837	3,328
Current assets held for sale	0	894
Total current assets	80,186	96,614
Non-current assets:
Right-of-use lease assets	825	656
Other non-current assets	465	503
Non-current assets held for sale	0	1,979
Total non-current assets	1,290	3,138
Total assets	81,476	99,752
Current liabilities:
Accrued salaries and employee benefits	983	2,539
Accounts payable and accrued liabilities	3,465	9,152
Short-term lease liabilities	139	75
Current liabilities held for sale	0	1,338
Total current liabilities	4,587	13,104
Non-current liabilities
Long-term lease liabilities	720	600
Other non-current liabilities	2,697	1,027
Non-current liabilities held for sale	0	1,599
Total non-current liabilities	3,417	3,226
Total liabilities	8,004	16,330
Commitments and contingencies (Note 7)	0	0
Redeemable preferred stock:
Preferred stock, $0.01 par value, 250,000 shares issued as of December 31, 2021 and December 31, 2020. 150,000 shares outstanding and $150,000 redemption value as of December 31, 2021 and 250,000 shares outstanding and $250,000 redemption value as of December 31, 2020.	150,000	250,000
Stockholders' deficit:
Common stock, $.01 par value, 5,000,000 authorized shares; 3,416,541 and 2,055,561 shares issued and outstanding, respectively, as of December 31, 2021 and 2,966,207 and 1,650,212 shares issued and outstanding, respectively, as of December 31, 2020.	34	30
Additional paid-in capital	143,523	46,574
Retained earnings	57,450	63,426
Accumulated other comprehensive income (loss)	54	(65)
Treasury stock, at cost, 1,360,980 shares as of December 31, 2021 and 1,315,995 shares as of December 31, 2020.	(277,589)	(276,543)
Total stockholders' deficit	(76,528)	(166,578)
Total liabilities and equity	$ 81,476	$ 99,752

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

The following table presents a maturity analysis of our operating leases as of December 31, 2021 ($ in thousands):


	Operating Lease Liabilities
2022	$	194
2023	204
2024	209
2025	206
2026	131
Thereafter	76
Total lease payments	1,020
Less: interest	161
Lease liabilities	$	859

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2021 USD ($) lease
Property, Plant and Equipment [Line Items]
Number of operating leases \| lease	2
Assets held for sale	$ 0
Liabilities held for sale	0
Authorized amount of stock to repurchase	$ 300,000,000
Minimum
Property, Plant and Equipment [Line Items]
Operating lease, term of contract	1 year
Property useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Operating lease, term of contract	5 years
Property useful life	5 years

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	250,000	250,000
Preferred stock, shares outstanding (in shares)	150,000	250,000
Preferred stock, redemption amount	$ 150,000,000	$ 250,000,000
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, shares issued (in shares)	3,416,541	2,966,207
Common stock, shares outstanding (in shares)	2,055,561	1,650,212
Treasury stock, shares (in shares)	1,360,980	1,315,995

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current
Federal	$ 4,378	$ (1,002)
State	0	0
International	203	(183)
Total current tax (benefit) expense	4,581	(1,185)
Deferred
Federal	(1,281)	1,420
State	0	0
International	(27)	534
Total deferred tax expense (benefit)	(1,308)	1,954
Income tax expense	$ 3,273	$ 769

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Expenses:
Salaries and employee benefits	$ 5,635	$ 11,977
Legal fees	6,885	4,748
Professional fees	1,531	1,457
General and administrative	2,633	2,328
Acquisition charges	3,908	0
Total expenses	20,592	20,510
Other income:
Change in fair value of Front Yard common stock	146	6,270
Dividend income on Front Yard common stock	0	244
Dividend income	3,061	0
Gain on sale of equity securities	8,347	0
Interest expense	(60)	0
Other income	154	45
Total other income	11,648	6,559
Net loss from continuing operations before income taxes	(8,944)	(13,951)
Income tax expense	3,273	769
Net loss from continuing operations	(12,217)	(14,720)
Discontinued Operations:
Income from operations related to Front Yard, net of tax	0	54,643
Gain (loss) on disposal of operation related to Front Yard	7,485	(102)
Income tax expense related to disposal	1,272	0
Net gain on discontinued operations	6,213	54,541
Net income (loss)	(6,004)	39,821
Amortization of preferred stock issuance costs	0	(42)
Net income (loss) attributable to common stockholders	(6,004)	39,779
Continuing operations earnings per share
Net loss from continuing operations	(12,217)	(14,720)
Reversal of amortization of preferred stock issuance costs	0	42
Gain on preferred stock transaction	87,961	0
Numerator for earnings per share from continuing operations	75,744	(14,678)
Discontinued operations earnings per share
Net income from discontinued operations	$ 6,213	$ 54,541
Earnings (loss) per share of common stock – basic:
Continuing operations - basic ( in USD per share)	$ 37.83	$ (9.05)
Discontinued operations - basic (in USD per share)	3.11	33.43
Earnings (loss) per basic common share (in USD per share)	$ 40.94	$ 24.38
Weighted average common stock outstanding – basic (in shares)	2,002,111	1,631,326
Earnings (loss) per share of common stock – diluted:
Continuing operations - diluted (in USD per share)	$ 35.03	$ (9.05)
Discontinued operations - diluted (in USD per share)	2.87	33.43
Earnings (loss) per diluted common share (in USD per share)	$ 37.90	$ 24.38
Weighted average common stock outstanding – diluted (in shares)	2,162,378	1,631,326
Equity Securities
Other income:
Gain on sale of equity securities	$ 8,347	$ 0

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation	The accompanying audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. All wholly owned subsidiaries are included, and all intercompany accounts and transactions have been eliminated.
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.
Recently issued accounting standards	Recently issued accounting standards Adoption of recent accounting standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) (“ASC 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. Accounting by lessors is substantially unchanged from prior practice as lessors will continue to recognize lease revenue on a straight-line basis. The FASB has also issued multiple ASUs amending certain aspects of Topic 842. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. 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 adopted this standard as of January 1, 2019 when the standard became effective and was required to be adopted. Consistent with the standard, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods prior to January 1, 2019. As mentioned above, the new standard provides a number of optional practical expedients in transition. We elected the “package of practical expedients,” which permits us not to reassess our prior conclusions about lease identification, lease classification and initial direct costs under the new standard. We did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter not being applicable to us. The new standard also provides practical expedients for an entity's ongoing accounting not to separate the lease and non-lease components, including common area maintenance, property taxes and insurance on our office leases that is paid along with rents. We elected the short-term lease exemption for all leases that qualify; as a result, we will not recognize right-of-use assets or lease liabilities for leases with a term of less than 12 months at inception. Upon our adoption of this standard, we recognized operating lease right-of-use assets of $2.8 million, lease liabilities of $2.8 million and a cumulative-effect adjustment to retained earnings of $(0.1) million. We have also provided the required incremental disclosures about our leasing activities on a prospective basis in Note 6. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments, which amends the guidance on measuring credit losses on financial assets held at amortized cost. ASU 2016-13, as amended, is intended to address the issue that the previous “incurred loss” methodology was restrictive for an entity's ability to record credit losses based on not yet meeting the “probable” threshold. The new language requires these assets to be valued at amortized cost presented at the net amount expected to be collected with a valuation provision. This ASU is effective for fiscal years beginning after December 15, 2019. The amendments in ASU 2016-13 should be applied on a modified retrospective transition basis. We adopted this standard as of January 1, 2020, and our adoption of the standard did not have a material impact on our consolidated financial statements. Recently issued accounting standards not yet adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021. We are currently evaluating the impact of this standard. In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments in this update apply only to contracts, hedging relationships, and other transactions that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. These amendments are not applicable to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. ASU No. 2020-04 is effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. We will adopt this standard when LIBOR is discontinued. We are evaluating the impact the new standard will have on our consolidated financial statements and related disclosures, but do not anticipate a material impact. Recent accounting pronouncements pending adoption not discussed above or in the 2020 Form 10-K are either not applicable or will not have, or are not expected to have a material impact on our consolidated financial position, results of operations, or cash flows.
Cash equivalents	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	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 variable interest entities (“VIEs”) for consolidation where we are the primary beneficiary. We had no VIEs or potential VIEs as of and for the years ended December 31, 2021 or 2020.
Earnings per share	Earnings per share Basic earnings per share is computed by dividing net income or loss, 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 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. Any gain on settlement of preferred shares, which is recorded directly to equity, is included in the numerators for our earnings per share calculations.
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.
Front Yard common stock	Front Yard common stockThe shares of Front Yard common stock that we held was reported at fair value based on unadjusted quoted market prices in active markets. Changes in the fair value of Front Yard common stock are recognized through net income. We held no Front Yard common stock as of January 12, 2021.
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. 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. Lastly, the Company accounts for the tax on global intangible low-taxed income (“GILTI”) as incurred and therefore has not recorded deferred taxes related to GILTI on its foreign subsidiaries.
Leases	Leases On January 1, 2019, we adopted ASU 2016-02, including various associated updates and amendments, which together comprise the requirements for lease accounting under ASC 842. ASU 2016-02 fundamentally changes accounting for operating leases by requiring lessees to recognize a liability to make lease payments and a right-of-use asset over the term of the lease. We also adopted the “package of practical expedients,” which permits us not to reassess our prior conclusions about lease identification, lease classification and initial direct costs under the new standard. We also elected the short-term lease exemption for all leases that qualify; as a result, we will not recognize right-of-use assets or lease liabilities for leases with a term of less than 12 months at inception. We lease office space under two operating leases. Our office leases are generally for terms of one to five years and typically include renewal options, which we consider when determining our lease right-of-use assets and lease liabilities to the extent that a renewal option is reasonably certain of being exercised. Along with rents, we are generally required to pay common area maintenance, property taxes and insurance, each of which vary from period to period and are therefore expensed as incurred.
Other non-current assets	Other non-current assets Other non-current assets includes leasehold improvements; furniture, fixtures and equipment; deferred tax assets and miscellaneous other 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.
Assets and liabilities held for sale	Assets and liabilities held for saleAssets and liabilities held for sale in 2020 represent the disposal group held at the lower of cost or fair value less estimated costs to sell. The Company had no assets and liabilities for sale in 2021.
Revenue recognition	Revenue recognition Under the Amended AMA, we administered certain of Front Yard's business activities and day-to-day operations and provided corporate governance services to Front Yard. Base Management Fees were earned by us ratably throughout the applicable quarter and are initially based on Front Yard's Adjusted AFFO (as defined in the Amended AMA), subject to a minimum amount and certain potential adjustments. See Note 8 for further information on the asset management agreements with Front Yard. We have evaluated the nature of the services provided to Front Yard and have determined that such services constitute a series of distinct services that should be accounted for as a single performance obligation completed over time, which is simultaneously performed by us and consumed by Front Yard. Therefore, we earn management fees are ratably over the applicable fiscal period. Under both the Amended AMA and the Former AMA, we received expense reimbursements from Front Yard for the compensation and benefits of the General Counsel dedicated to Front Yard and certain operating expenses incurred on Front Yard's behalf. These expense reimbursements were earned by us at the time the underlying expense is incurred. In addition, under the Former AMA, we also received conversion fees based on a percentage of the fair value of properties that became rented for the first time in each quarter. Such conversion fees were earned by us in the quarter that the conversion to rentals occurred. We have determined that the expense reimbursements are variable consideration, and we recognize each component of this revenue on a quarterly basis up to the amount that would likely not be reversed.
Share-based compensation	Share-based compensation We amortize the grant date fair value of restricted stock as expense on a straight-line basis over the service period with an offsetting increase in stockholders' 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. We recognize share-based compensation expense related to (i) awards to employees in salaries and employee benefits and (ii) awards to Directors or non-employees in general and administrative expense in our consolidated statements of operations. Forfeitures of share-based awards are recognized as they occur.
Treasury stock	Treasury stock We account for repurchased common stock under the cost method and include such treasury stock as a component of total stockholders’ 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.
Fair value measurement	The fair value of our Front Yard common stock is based on unadjusted quoted market prices from active markets.

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax exemption, percentage	90.00%	90.00%
Cumulative loss position, duration	3 years
Increase in valuation allowance	$ 429,000
Unrecognized tax benefit, interest and penalties expensed	0	$ 0
Unrecognized tax benefit, interest and penalties accrued	$ 0	$ 0

Incentive Compensation and Share-based Payments - Long-Term Incentive Compensation (Details)	12 Months Ended
	Dec. 31, 2021
Share-based compensation arrangement by share-based payment award [Line Items]
Weighting of Company's performance based on board of director objectives	80.00%
Personal evaluation weighting	20.00%
Minimum
Share-based compensation arrangement by share-based payment award [Line Items]
Non-equity incentive compensation percentage	50.00%
Maximum
Share-based compensation arrangement by share-based payment award [Line Items]
Non-equity incentive compensation percentage	200.00%

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

4. 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 at December 31, 2020 ($ 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, 2020
Recurring basis (assets)
Front Yard common stock	$	47,355	$	47,355	$	—	$	—

As of December 31, 2021, the Company had sold its investments in securities and there were no securities outstanding. We did not transfer any assets from one level to another level during the years ended December 31, 2021 or 2020. The fair value of our Front Yard common stock is based on unadjusted quoted market prices from active markets.

At December 31, 2020, we held 2,923,166 shares of Front Yard's common stock representing approximately 4.9% of Front Yard's then-outstanding common stock. We previously acquired 1,624,465 shares of Front Yard's common stock in open market transactions, and on December 31, 2020, we received 1,298,701 shares of Front Yard's common stock in connection with the transactions contemplated in the Termination Agreement with Front Yard. On January 11, 2021, Front Yard completed its previously announced merger, and all 2,923,166 shares were sold. For further information, please refer to Note 1.

Investment gains/losses for December 31, 2021 and 2020, are summarized as follows ($ in thousands):


	Year ended December 31,
	2021		2020
Equity securities:

Investment gains on securities sold during the period	$	8,347	$	—
	8,347		—

Front Yard common stock:
Change in unrealized losses during the period on securities held at the end of the end of the period	—		(6,270)
Investment gains on securities sold during the period	146		—
	146		(6,270)

Total change in fair value of equity securities and Front Yard common stock	$	8,493	$	(6,270)

Investment gains and losses include unrealized gains and losses from changes in fair values during the period on positions that we owned at the end of such period, as well as gains and losses on positions sold during the period. As reflected in the condensed consolidated statements of cash flows, total proceeds from sales of securities during December 31, 2021 was $152.8 million which consisted of proceeds from sales of Front Yard common stock of $47.5 million and $105.3 million in proceeds from sales of securities. No proceeds from sales of securities were received in 2020. In the preceding table, investment gains/losses on equity securities sold during the period reflect the difference between the sales proceeds and the fair value of the equity securities sold at the beginning of the applicable period.

A summary of the year-to-date activity of Front Yard common stock and equity securities is presented in the table below (in thousands):


	Front Yard Common Stock			Equity Securities
	Shares	Basis		Shares	Basis

December 31, 2020	2,923	$	41,635	—	$	—
Purchased	—	0		8,123	96,950
Sold	(2,923)	(41,635)		(8,123)	(96,950)
December 31, 2021	—	$	—	—	$	—

A summary of the cost basis, fair value and the corresponding amounts of gross unrealized gains and losses recognized as of the dates indicated are presented in the table below ($ in thousands):


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value




December 31, 2020
Front Yard common stock	$	41,635	$	5,720	$	—	$	47,355

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings Per Share - Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator
Reversal of amortization of preferred stock issuance costs	$ 0	$ 42
Stock options
Denominator
Antidilutive shares excluded from computation of earnings per share (in shares)	0	7,609
Restricted stock
Denominator
Antidilutive shares excluded from computation of earnings per share (in shares)	0	67,616
Preferred stock
Denominator
Antidilutive shares excluded from computation of earnings per share (in shares)	0	200,000

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

10. 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 EDC Certificate”), effective as of February 1, 2013. Pursuant to the EDC Certificate, so long as we comply its provisions, we will receive a 90% tax reduction on our USVI-sourced income until 2043. By letter dated December 21, 2020, the EDC approved a temporary waiver (the "Waiver") of the Company's minimum employment requirements to five full-time USVI employees for the period from January 1, 2021 to December 31, 2021.

At December 31, 2021, the company had two less USVI employees than what is required under the provisions of the Waiver. The Company is also continuing to seek to hire USVI employees to meet the requirements of the Waiver. The Company's Chief Financial Officer and General Counsel have relocated to the USVI. They will be eligible USVI employees after one year of residency.

For the year ended December 31, 2020, in addition to the management fees from Front Yard (which represent eligible income under the EDC Certificate), AAMC had income on the Front Yard common stock that it owns, as well as internally-sourced revenues from its Cayman Islands subsidiary, both of which are 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.

The following table sets forth the components of income (loss) from continuing operations before income taxes ($ in thousands):


	Year ended December 31,
	2021		2020
U.S. Virgin Islands	$	(8,879)	$	(15,841)
Other	(65)		1,890
Income (loss) before income taxes	$	(8,944)	$	(13,951)

The provision (benefit) for income taxes from continuing operations is summarized as follows ($ in thousands):


	Year ended December 31,
	2021		2020
Current
Federal	$	4,378	$	(1,002)
State	—		—
International	203		(183)
Total current tax (benefit) expense	4,581		(1,185)
Deferred
Federal	(1,281)		1,420
State	—		—
International	(27)		534
Total deferred tax expense (benefit)	(1,308)		1,954
Total tax expense	$	3,273	$	769

The following table sets forth the components of our total deferred tax assets ($ in thousands):


	December 31, 2021		December 31, 2020
Deferred tax assets:
Stock compensation	$	2	$	64
Accrued expenses	24		171


Net operating losses (1)	637		285
Lease liabilities	14		491
Other	1		44

Gross deferred tax assets	678		1,055
Deferred tax liability:
Right-of-use lease assets	13		459
Investments	—		1,547
Depreciation	—		2
Other	—		5
Gross deferred tax liabilities	13		2,013
Net deferred tax (liability) asset before valuation allowance	665		(958)
Valuation allowance	(498)		(69)
Deferred tax (liability) asset, net	$	167	$	(1,027)

_____________

(1)Net operating loss (“NOL”) carry-forwards for tax years prior to 2018 expire in 2037. Beginning with 2018, NOLs are carried forward indefinitely.

The change in deferred tax assets is included in changes in other non-current assets in the consolidated statement of cash flows. Significant factors contributing to the increase in our valuation allowance in 2021 are decreases in the temporary differences attributable to our investment in Front Yard common stock, partially offset by tax losses in the USVI.

ASC 740 requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is "more likely than not." Realization of the future tax benefits is dependent on the Company's ability to generate sufficient taxable income within the carryforward period. AAMC has historically been in a three-year cumulative loss position. As such, a full valuation allowance against the EDC deferred tax assets and liabilities was recorded as of December 31, 2019. With the recognition of the Termination Fee payments as income in 2020, AAMC is no longer in a cumulative three-year loss position for GAAP and tax purposes. However, we believe that it is more likely than not that the company will not realize the benefit of its net deferred tax assets. As such, the EDC deferred tax asset was fully recorded with a full valuation allowance in 2021. The valuation allowance increased by $429 thousand during the year ended December 31, 2021.

The following table sets forth the reconciliation of the statutory USVI income tax rate from continuing operations to our effective income tax rate:


	Year ended December 31,
	2021		2020
U.S. Virgin Islands income tax rate	23.1	%	23.1	%
State and local income tax rates	—		(0.1)

EDC benefits in the USVI	(48.2)		(33.0)
Foreign tax rate differential	(0.2)		(0.2)
Subpart F income	(18.5)		—
Permanent and other	(1.6)		(1.5)
Share-based compensation	(0.2)		(0.5)
Valuation allowance	(4.8)		(1.1)
Foreign Tax Credit	13.6		—
Other Adjustments / Rate difference on US NOL carryback	—		7.9
Effective income tax rate	(36.8)	%	(5.4)	%

During the tax years ended December 31, 2021 and 2020, we recognized no interest or penalties associated with unrecognized tax benefits. As of December 31, 2021 and 2020, we had accrued no unrecognized tax benefits or associated interest and penalties.

AAMC believes that the tax positions taken in the AAMC tax returns satisfy the more-likely-than-not threshold for benefit recognition. Furthermore, a review of the AAMC entity trial balances suggests that AAMC has appropriately addressed the material book-tax differences. AAMC is confident that the amounts claimed (or expected to be claimed) in the tax returns reflect the largest amount of such benefits that are greater than fifty percent likely of being realized upon ultimate settlement. Accordingly, no ASC 740-10-25 liabilities have been recorded by the Company as a result of ASC 740-10-25.

We remain subject to tax examination in the USVI for tax years 2018 to 2021 and in the United States for tax years 2018 to 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Incentive Compensation and Share-based Payments - Restricted Stock Activity (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) installment $ / shares shares	Dec. 31, 2020 USD ($) installment $ / shares shares
Share-based compensation arrangement by share-based payment award [Line Items]
Share-based compensation \| $	$ 21,000	$ 216,000
Restricted stock
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares) \| shares	97,907	78,622
Weighted average grant date fair value of grants in period (in USD per share) \| $ / shares	$ 25.77	$ 14.75
Forfeited (in shares) \| shares	50,000
Weighted average grant date fair value of shares forfeited (in USD per share) \| $ / shares	$ 14.35
Share-based compensation \| $	$ 1,800,000	$ 1,700,000
Unrecognized stock compensation \| $	$ 300,000	$ 1,000,000
Weighted average remaining amortization period of unamortized share based compensation (in years)	1 year 2 months 12 days	10 months 24 days
Restricted stock \| Management
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares) \| shares	90,671	70,000
Weighted average grant date fair value of grants in period (in USD per share) \| $ / shares		$ 13.99
Number of annual installments \| installment	3	3
Forfeited (in shares) \| shares	50,000
Weighted average grant date fair value of shares forfeited (in USD per share) \| $ / shares	$ 14.35
Restricted stock \| Management \| Vesting tranche one
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares) \| shares	82,671
Weighted average grant date fair value of grants in period (in USD per share) \| $ / shares	$ 26.25
Restricted stock \| Management \| Vesting tranche two
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares) \| shares	8,000
Weighted average grant date fair value of grants in period (in USD per share) \| $ / shares	$ 21.58
Restricted stock \| Directors
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares granted (in shares) \| shares	7,236	8,622
Weighted average grant date fair value of grants in period (in USD per share) \| $ / shares	$ 24.88	$ 20.87
Value of restricted stock granted to directors annually \| $	$ 60,000
Restricted stock, service period	1 year
Director attendance requirement	75.00%

Discontinued Operations - Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Other income (loss) from discontinued operations:
Income from operations related to Front Yard, net of tax	$ 0	$ 54,643
Discontinued Operations
Revenues from discontinued operations:
Total revenues from discontinued operations	0	62,580
Expenses from discontinued operations:
Salaries and employee benefits	0	5,592
Legal and professional fees	0	256
General and administrative	0	1,521
Total expenses from discontinued operations	0	7,369
Other income (loss) from discontinued operations:
Gain on disposal	7,485	0
Total other income (loss) from discontinued operations	0	20
Total other income (loss) from discontinued operations	7,485	20
Net income from discontinued operations before income taxes	7,485	55,231
Loss on disposal of discontinued operations before income taxes	0	102
Income tax expense	1,272	588
Income from operations related to Front Yard, net of tax	6,213	54,541
Management fees from Front Yard \| Discontinued Operations
Revenues from discontinued operations:
Total revenues from discontinued operations	0	13,713
Termination fee from Front Yard \| Discontinued Operations
Revenues from discontinued operations:
Total revenues from discontinued operations	0	46,000
Expense reimbursements from Front Yard \| Discontinued Operations
Revenues from discontinued operations:
Total revenues from discontinued operations	$ 0	$ 2,867

Incentive Compensation and Share-based Payments (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table sets forth the activity of our outstanding options:


	Number of Options	Weighted Average Exercise Price per Share














December 31, 2019	15,256	2.77
Granted (2)	60,000	13.11
Exercised (1)	(8,031)	1.66
December 31, 2020	67,225	12.13
Forfeited/expired (3)	(61,375)	12.87
December 31, 2021	5,850	$	4.36

_____________

(1)The intrinsic value of stock options exercised during the year ended December 31, 2020 was $0.1 million.

(2)The stock options had a weighted average grant date fair value of $10.61 and had an exercise price of $13.11. The stock options were forfeited on April 16, 2021 due to the former Chief Executive Officer's termination.

(3)1,000 stock options expired on July 18, 2021 and 375 expired on July 21, 2021. All forfeited and expired options had a weighted average exercise price of $12.87.

Valuation Assumptions of Stock Options Granted

The fair value of stock options granted during the period indicated using the following assumptions:


	Year ended December 31, 2020
Risk-free interest rate (1)	1.56	%
Common stock dividend yield (2)	—	%
Expected volatility (3)	98.30	%
_____________
(1) Represents the interest rate as of the grant date on US treasury bonds having the same life as the estimated life of the stock option grants
(2) Based on the Company's history of not declaring a dividend on shares of common stock
(3) Based on our historical stock price volatility

Schedule of Restricted Stock Activity

The following table sets forth the activity of our restricted stock:


	Number of Shares	Weighted Average Grant Date Fair Value















December 31, 2019	111,757	54.18
Granted	78,622	14.75
Vested (1)	(60,999)	66.70
December 31, 2020	129,380	24.32
Granted	97,907	25.77
Vested (1)	(162,051)	14.50
Forfeited/expired (1)	(50,000)	14.35
December 31, 2021	15,236	$	23.15

_____________

(1)The vesting date fair value of restricted stock that vested during the years ended December 31, 2021, 2020 and 2019 was $2.1 million, $1.1 million, and $0.9 million, respectively.

Schedule of 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, 2021
Stock options outstanding						5,850
Possible future issuances under share-based compensation plans						122,288
						128,138

Incentive Compensation and Share-based Payments - Valuation Assumptions of Stock Granted (Details) - Stock options	12 Months Ended
	Dec. 31, 2020
Share-based compensation arrangement by share-based payment award [Line Items]
Risk free interest rate	1.56%
Common stock dividend yield	0.00%
Expected volatility	98.30%

Incentive Compensation and Share-based Payments - Schedule of Shares Reserved for Future Issuance (Details) - shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock options outstanding (in shares)	5,850	67,225	15,256
Possible future issuances under equity incentive plan (in shares)	122,288
Common stock reserved for future issuance (in shares)	128,138
Common stock, shares available to be issued under charter (in shares)	1,583,459

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Stock compensation	$ 2	$ 64
Accrued expenses	24	171
Net operating losses	637	285
Lease liabilities	14	491
Other	1	44
Gross deferred tax assets	678	1,055
Deferred tax liability:
Right-of-use lease assets	13	459
Investments	0	1,547
Depreciation	0	2
Other	0	5
Gross deferred tax liabilities	13	2,013
Net deferred tax (liability) asset before valuation allowance	665	(958)
Valuation allowance	(498)	(69)
Deferred tax asset, net	$ 167
Deferred tax liability, net		$ (1,027)

Discontinued Operations - Additional Information (Details) - USD ($)	Dec. 31, 2020	Aug. 17, 2020	Dec. 31, 2021	Aug. 13, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivable from Front Yard	$ 3,414,000		$ 0
Termination Agreement \| Affiliated entity \| Common Stock \| Front Yard
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Front Yard shares acquired (in shares)	(2,923,166)
Front Yard \| Termination Agreement \| Affiliated entity
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivable from Front Yard				$ 46,000,000
Due from Front Yard	$ 15,000,000	$ 15,000,000
Due from Front Yard, subject to conditions, restrictions, and limitations	16,000,000
Receipt of deposit from Front Yard related to the Disposal Group		$ 3,200,000
Front Yard \| Termination Agreement \| Affiliated entity \| Common Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receipt of deposit from Front Yard related to the Disposal Group	5,000,000
Front Yard \| Termination Agreement \| Affiliated entity \| River Business Solutions Private Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate purchase price	$ 8,200,000

Leases - Maturity Analysis (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Operating Lease Liabilities
2022	$ 194
2023	204
2024	209
2025	206
2026	131
Thereafter	76
Total lease payments	1,020
Less: interest	161
Lease liabilities	$ 859

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (6,004)	$ 39,821
Other comprehensive loss:
Currency translation adjustments, net	(6)	(32)
Total other comprehensive loss	(6)	(32)
Comprehensive income (loss)	$ (6,010)	$ 39,789

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Incentive Compensation and Share-based Payments

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Incentive Compensation and Share-based Payments

9. 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 200% of base salary. The officer's actual incentive payment for the year is determined by (i) the Company's performance versus the objectives established by our Board of Directors (80%) and (ii) a performance appraisal (20%).

Share-based Payments

Certain executive officers and employees have and will receive grants of stock options and/or restricted stock under the 2012 and 2020 Equity Incentive Plans, collectively (the "Equity Incentive Plans"). The Equity Incentive Plans also allow 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.

2012 Special Equity Incentive Plan

A special grant of stock options and restricted stock was made to certain employees of Altisource Portfolio Solutions N.A. (“ASPS”) related to our separation from ASPS under the 2012 Special Equity Incentive Plan (the “2012 Special Plan”). We included no share-based compensation in our consolidated financial statements for the portion of these grants made to ASPS employees. The shares of restricted stock became fully vested and were issued during 2017.

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.

Stock options

During the years ended December 31, 2021 and 2020, we recorded approximately $21,000 and $216,000 compensation expense related to grants of stock options, respectively.

The following table sets forth the activity of our outstanding options:


	Number of Options	Weighted Average Exercise Price per Share














December 31, 2019	15,256	2.77
Granted (2)	60,000	13.11
Exercised (1)	(8,031)	1.66
December 31, 2020	67,225	12.13
Forfeited/expired (3)	(61,375)	12.87
December 31, 2021	5,850	$	4.36

_____________

(1)The intrinsic value of stock options exercised during the year ended December 31, 2020 was $0.1 million.

(3)1,000 stock options expired on July 18, 2021 and 375 expired on July 21, 2021. All forfeited and expired options had a weighted average exercise price of $12.87.

As of December 31, 2021, we had 5,850 outstanding options issued under all of our share-based compensation plans or as inducement awards, with a weighted average exercise price of $4.36, weighted average remaining life of 0.2 years and intrinsic value of $0.1 million. Subsequent to year end, all options were exercised in March 2022.

We had 7,225 options exercisable as of December 31, 2020 with a weighted average exercise price of $4.01, weighted average remaining life of 1.1 years, and intrinsic value of $0.1 million. Of these exercisable options, none had an exercise price higher than the market price of our common stock as of December 31, 2020.

We calculated the grant date fair value of stock options granted in 2020 using a Monte Carlo simulation and amortize the resulting compensation expense over the respective service period. No options were granted in 2021. The fair value of stock options granted during the period indicated using the following assumptions:


	Year ended December 31, 2020
Risk-free interest rate (1)	1.56	%
Common stock dividend yield (2)	—	%
Expected volatility (3)	98.30	%
_____________
(1) Represents the interest rate as of the grant date on US treasury bonds having the same life as the estimated life of the stock option grants
(2) Based on the Company's history of not declaring a dividend on shares of common stock
(3) Based on our historical stock price volatility

Restricted stock

During the year ended December 31, 2021, we granted a total of 90,671 shares of service-based restricted stock to members of management. Of which, 82,671 shares of service-based restricted stock awards were issued with a weighted average grant date fair value per share of $26.25 which vested immediately. An additional 8,000 shares were issued with a weighted average grant date value per share of $21.58. These additional shares of service-based restricted stock awards were granted either as inducement awards or under our Equity Incentive Plans. These grants will vest in three equal annual installments based on the grant date(s), subject to forfeiture or acceleration.

During the year ended December 31, 2020, we granted 70,000 shares of service-based restricted stock to members of management with a weighted average grant date value per share of $13.99. These shares of service-based restricted stock awards were granted either as inducement awards or under our Equity Incentive Plans. These grants were to vest in three equal annual installments based on the grant date(s), subject to forfeiture or acceleration. However, 50,000 shares of the restricted stock units were forfeited in 2021 due to termination or resignations of members of management. The forfeited shares had a weighted average grant date value per share of $14.35.

We recorded $1.8 million and $1.7 million of compensation expense related to these grants for the years ended December 31, 2021, and 2020, respectively. As of December 31, 2021 and 2020, we had $0.3 million and $1.0 million, respectively, of total unrecognized share-based compensation cost to be recognized over a weighted average remaining estimated term of 1.2 years and 0.9 years, respectively.

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, 2021 and 2020, we granted 7,236 and 8,622 shares of stock, respectively, pursuant to our Equity Incentive Plans with a weighted average grant date fair value per share of $24.88 and $20.87, respectively.

The following table sets forth the activity of our restricted stock:


	Number of Shares	Weighted Average Grant Date Fair Value















December 31, 2019	111,757	54.18
Granted	78,622	14.75
Vested (1)	(60,999)	66.70
December 31, 2020	129,380	24.32
Granted	97,907	25.77
Vested (1)	(162,051)	14.50
Forfeited/expired (1)	(50,000)	14.35
December 31, 2021	15,236	$	23.15

_____________

(1)The vesting date fair value of restricted stock that vested during the years ended December 31, 2021, 2020 and 2019 was $2.1 million, $1.1 million, and $0.9 million, respectively.


						December 31, 2021
Stock options outstanding						5,850
Possible future issuances under share-based compensation plans						122,288
						128,138

As of December 31, 2021, we had 1,583,459 remaining shares of common stock, excluding treasury shares, authorized to be issued under our charter.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Components of Diluted Loss 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,
	2021		2020
Numerator
Continuing operations:
Net loss from continuing operations	$	(12,217)	$	(14,720)
Amortization of preferred stock issuance costs	—		(42)
Gain on preferred stock transactions	87,961		—
Numerator for basic and diluted EPS from continuing operations – net income (loss) from continuing operations attributable to common stockholders	$	75,744	$	(14,762)



Discontinued operations:
Numerator for basic and diluted EPS from discontinued operations - net gain from discontinued operations	$	6,213	54,541

Total:
Net income (loss)	$	(6,004)	$	39,821
Amortization of preferred stock issuance costs	—		(42)
Gain on preferred stock transactions	87,961		—
Numerator for basic and diluted EPS - net income attributable to common stockholders	81,957		39,779

Denominator
Weighted average common stock outstanding – basic	2,002,111		1,631,326



Weighted average common stock outstanding – diluted	2,162,378		1,631,326

Earnings (loss) per share of common stock – basic:
Continuing operations - basic	$	37.83	$	(9.05)
Discontinued operations - basic	3.11		33.43
Earnings per basic common share	$	40.94	$	24.38

Earnings (loss) per share of common stock – diluted:
Continuing operations - diluted	$	35.03	$	(9.05)
Discontinued operations - diluted	2.87		33.43
Earnings per diluted common share	$	37.90	$	24.38

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, as the Company had a net loss from continuing operations for each period presented ($ in thousands):


	Year ended December 31,
	2021		2020
Numerator
Reversal of amortization of preferred stock issuance costs	$	—	$	42

Denominator
Stock options	—		7,609
Restricted stock	—		67,616
Preferred stock, if converted	—		200,000

Incentive Compensation and Share-based Payments - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Jul. 21, 2021	Jul. 18, 2021	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-based compensation			$ 21	$ 216
Number of Options
Beginning balance (in shares)			67,225	15,256
Granted (in shares)			0	60,000
Exercised (in shares)				(8,031)
Forfeited/expired (in shares)			(61,375)
Ending balance (in shares)			5,850	67,225
Weighted Average Exercise Price per Share
Beginning balance (in USD per share)			$ 12.13	$ 2.77
Granted (in USD per share)			12.87	13.11
Exercised (in USD per share)				1.66
Forfeited/expired (in USD per share)			12.87
Ending balance (in USD per share)			4.36	$ 12.13
Intrinsic value of stock options exercised				$ 100
Weighted average grant date fair value of grants in period (in USD per share)				$ 10.61
Exercise price (in USD per share)			$ 12.87	$ 13.11
Stock options expired (in shares)	375	1,000
Stock options outstanding (in shares)			5,850	67,225
Stock options outstanding, weighted average remaining life			2 months 12 days
Weighted average exercise price of exercisable options (in USD per share)			$ 4.36	$ 4.01
Stock options outstanding, intrinsic value			$ 100
Number of exercisable options (in shares)				7,225
Weighted average remaining life of exercisable options (in years)				1 year 1 month 6 days
Intrinsic value of exercisable options				$ 100

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events Management has evaluated the impact of all events subsequent to December 31, 2021 and through the issuance of these consolidated financial statements. Management has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements, except as follows: Alternative Lending Group The Company has started operations of its Alternative Lending Group (ALG) with a capital commitment of $40.0 million. As of March 31, 2022, the Company's pipeline of loans consists of $18.5 million of loans acquired with an additional $9.2 million under evaluation for a total of $27.7 million. Settlement of Preferred Shares Refer to Note 1 for an additional settlement of the Series A Preferred shares. On February 17, 2022, the Company paid $1.2 million as final consideration to Putnam Focused Equity Fund, a series of Putnam Funds Trust ("Putnam") as set forth in the Settlement Agreement dated February 17, 2021. Settlement of Litigation Refer to Note 7 for settlement of litigation regarding Graham Singer.

Fair Value of Financial Instruments - Common Stock and Equity Securities Activity (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Basis
Purchased	$ 96,950	$ 0
Common Stock
Shares
Beginning balance (in shares)	2,923
Purchased (in shares)	0
Sold (in shares)	(2,923)
Ending balance (in shares)	0	2,923
Basis
Beginning balance	$ 41,635
Purchased	0
Sold	(41,635)
Ending balance	$ 0	$ 41,635
Equity Securities
Shares
Beginning balance (in shares)	0
Purchased (in shares)	8,123
Sold (in shares)	(8,123)
Ending balance (in shares)	0	0
Basis
Beginning balance	$ 0
Purchased	96,950
Sold	(96,950)
Ending balance	$ 0	$ 0

Borrowings	12 Months Ended
Borrowings	Dec. 31, 2021
Debt Disclosure [Abstract]
Borrowings	5. BorrowingsIn 2021, the Company began borrowing under a standard margin arrangement with one of our banking institutions. The margin account is secured by the securities held in our brokerage account with this institution. We paid interest on all of our borrowings each month when a balance was owed. As of December 31, 2021, the Company liquidated its security holdings and the margin arrangement has been repaid.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Subsequent Events (Details) - USD ($)	Mar. 31, 2022	Feb. 17, 2022	Feb. 17, 2021
Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Putnam
Subsequent Event [Line Items]
Loss contingency, damages awarded, due on one-year anniversary of the effective date of the agreement			$ 1,227,000
Subsequent event
Subsequent Event [Line Items]
Committed capital	$ 40,000,000.0
Financing receivables, acquired	18,500,000
Financing receivable under evaluation for acquisition	9,200,000
Financing receivables, acquired and under evaluation for acquisition	$ 27,700,000
Subsequent event \| Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Putnam
Subsequent Event [Line Items]
Loss contingency, damages awarded, due on one-year anniversary of the effective date of the agreement		$ 1,200,000

Leases - Narrative (Details) - USD ($)	12 Months Ended
Leases - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease, weighted average remaining lease term	5 years 1 month 6 days	7 years 6 months
Operating lease, discount rate	7.00%	7.00%
Operating lease cost	$ 200,000	$ 700,000
Short-term lease cost	$ 0	$ 100,000

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

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 at December 31, 2020 ($ 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, 2020
Recurring basis (assets)
Front Yard common stock	$	47,355	$	47,355	$	—	$	—

Investment Gains/Losses

Investment gains/losses for December 31, 2021 and 2020, are summarized as follows ($ in thousands):


	Year ended December 31,
	2021		2020
Equity securities:

Investment gains on securities sold during the period	$	8,347	$	—
	8,347		—

Front Yard common stock:
Change in unrealized losses during the period on securities held at the end of the end of the period	—		(6,270)
Investment gains on securities sold during the period	146		—
	146		(6,270)

Total change in fair value of equity securities and Front Yard common stock	$	8,493	$	(6,270)

Common Stock and Equity Securities Activity

A summary of the year-to-date activity of Front Yard common stock and equity securities is presented in the table below (in thousands):


	Front Yard Common Stock			Equity Securities
	Shares	Basis		Shares	Basis

December 31, 2020	2,923	$	41,635	—	$	—
Purchased	—	0		8,123	96,950
Sold	(2,923)	(41,635)		(8,123)	(96,950)
December 31, 2021	—	$	—	—	$	—

Summary of Cost Basis, Fair Value, and Unrealized Gains (Losses)

A summary of the cost basis, fair value and the corresponding amounts of gross unrealized gains and losses recognized as of the dates indicated are presented in the table below ($ in thousands):


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value




December 31, 2020
Front Yard common stock	$	41,635	$	5,720	$	—	$	47,355

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	12. Segment Information Our primary business prior to December 31, 2020 was to provide asset management and certain corporate governance services to institutional investors. Because substantially all of our revenue was derived from the services we provided to Front Yard, we previously operated as a single segment focused on providing asset management and corporate governance services.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. 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 material legal proceedings to which we are a party as of December 31, 2021: Litigation regarding Luxor Capital Group, LP and certain of its managed funds and accounts ("Luxor") Please refer to Note 1 – Section Series A Convertible Preferred Stock in 2014 Private Placement. Executive Arbitrations Former Chief Executive Officer, Indroneel Chatterjee On May 3, 2021, Mr. Chatterjee, commenced an arbitration against the Company and each of its directors. The arbitration complaint alleges that the Company’s April 16, 2021 for cause termination of Mr. Chatterjee was in breach of Mr. Chatterjee’s Amended and Restated Employment Agreement and made extra contractual claims against the Company for not affording Mr. Chatterjee a “fair procedure” and placed him in a “false light” by disclosing Mr. Chatterjee’s termination in its public announcement of the for cause termination. In addition, the arbitration complaint also asserts a tort claim against each of the Company’s directors relating to that termination and against the Company for its April 16, 2021 public announcement of the for cause termination. Mr. Chatterjee’s arbitration complaint seeks unspecified damages for his contract claims including for loss of income, stock and bonus, and punitive damages on his tort claims. On June 10, 2021, the Company and its directors responded to the arbitration complaint and advanced counterclaims against Mr. Chatterjee. On October 20, 2021, the arbitrator granted the Company’s motion to dismiss with respect to Mr. Chatterjee’s “fair procedure” and “false light” claims, but denied the motion to dismiss the tort claim against each of the directors. The arbitrator has set a trial date for October 24-28, 2022. The Company and the directors intend to vigorously defend the claims. Former General Counsel, Graham Singer On June 25, 2021, Mr. Singer commenced an arbitration against the Company and its subsidiary AAMC US, Inc. regarding his compensation and the terms of his employment. The Company had previously demanded that Mr. Singer return his signing bonus in accordance with the terms of his employment agreement. The Company and Mr. Singer have agreed to a settlement in principle resolving all claims and counterclaims. Erbey Holding Corporation et al. v. Blackrock Management Inc., et al. On April 12, 2018, a partial stockholder derivative action was filed in the Superior Court of the Virgin Islands, Division of St. Croix under the caption Erbey Holding Corporation, et al. v. Blackrock Financial Management Inc., et al. The action was filed by Erbey Holding Corporation (“Erbey Holding”), John R. Erbey Family Limited Partnership (“JREFLP”), by its general partner Jupiter Capital, Inc., Salt Pond Holdings, LLC (“Salt Pond”), Munus, L.P. (“Munus”), Carisma Trust (“Carisma”), by its trustee, Venia, LLC, and Tribue Limited Partnership (collectively, the “Plaintiffs”) each on its own behalf and Salt Pond and Carisma derivatively on behalf of AAMC. The action was filed against Blackrock Financial Management, Inc., Blackrock Investment Management, LLC, Blackrock Investments, LLC, Blackrock Capital Management, Inc., Blackrock, Inc. (collectively, “Blackrock”), Pacific Investment Management Company LLC, PIMCO Investments LLC (collectively, “PIMCO”) and John and Jane Does 1-10 (collectively with Blackrock and PIMCO, the “Defendants”). The action alleges a conspiracy by Blackrock and PIMCO to harm Ocwen Financial Corporation (“Ocwen”) and AAMC and certain of their subsidiaries, affiliates and related companies and to extract enormous profits at the expense of Ocwen and AAMC by attempting to damage their operations, business relationships and reputations. The complaint alleges that Defendants’ conspiratorial activities, which included short-selling activities, were designed to destroy Ocwen and AAMC, and that the Plaintiffs (including AAMC) suffered significant injury, including but not limited to lost value of their stock and/or stock holdings. The action seeks, among other things, an award of monetary damages to AAMC, including treble damages under Section 605, Title IV of the Virgin Islands Code related to the Criminally Influenced and Corrupt Organizations Act, punitive damages and an award of attorney’s and other fees and expenses. Defendants have moved to dismiss the first amended verified complaint. Plaintiffs and AAMC have moved for leave to file a second amended verified complaint to include AAMC as a direct plaintiff, rather than as a derivative party. On March 27, 2019, the Court held oral argument on Defendants' motions to dismiss the first amended verified complaint and Plaintiffs' motion for leave to file the second amended verified complaint. The Court held additional oral argument on the pending motions on October 25, 2021. The Court has not yet decided the pending motions. At this time, we are not able to predict the ultimate outcome of this matter, nor can we estimate the range of possible damages to be awarded to AAMC, if any. We have determined that there is no contingent liability related to this matter for AAMC. COVID-19 Pandemic Due to the current COVID-19 pandemic in the United States and globally, our business, our employees and the economy as a whole could be adversely impacted. The magnitude and duration of the COVID-19 pandemic and its impact on our cash flows and future results of operations could potentially be significant and will largely depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of the COVID-19 pandemic, the success of actions taken to contain or treat the pandemic, and reactions by consumers, companies, governmental entities and capital markets. The COVID-19 pandemic has had significant effects on global markets, supply chains, businesses and communities. As a result of increased COVID-19 vaccination rates and significant reopening of the economy, related risks appear to have decreased. Nevertheless, the Company has taken appropriate actions to mitigate the negative impact the virus has on the Company by reducing employee travel, allowing employees to work remotely, and canceling in-person meetings when possible.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

6. Leases

We currently occupy office space under operating leases in Christiansted, St. Croix, U.S. Virgin Islands, and Bengaluru, India.

As of December 31, 2021 and December 31, 2020, our weighted average remaining lease term, including applicable extensions, was 5.1 years and 7.5 years, respectively, and we applied a discount rate of 7.0% and 7.0%, respectively, to our office leases. We determined the discount rate for each lease to be either the discount rate stated in the lease agreement or our estimated rate that we would charge to finance real estate assets.

During the years ended December 31, 2021 and December 31, 2020, we recognized rent expense of $0.2 million and $0.7 million, respectively, related to long-term operating leases. We had no short-term rent expense in 2021 and $0.1 million in 2020. We include rent expense as a component of general and administrative expenses in the consolidated statements of operations. We had no finance leases during the years ended December 31, 2021 and December 31, 2020.

The following table presents a maturity analysis of our operating leases as of December 31, 2021 ($ in thousands):


	Operating Lease Liabilities
2022	$	194
2023	204
2024	209
2025	206
2026	131
Thereafter	76
Total lease payments	1,020
Less: interest	161
Lease liabilities	$	859

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income (loss)	$ (6,004,000)	$ 39,821,000
Net income from discontinued operations	6,213,000	54,541,000
Net loss from continuing operations	(12,217,000)	(14,720,000)
Adjustments to reconcile net income (loss) from continuing operations to net cash from (used in) operating activities:
Change in fair value of Front Yard common stock	(146,000)	(6,270,000)
Share-based compensation	1,939,000	1,915,000
Depreciation	309,000	354,000
Unrealized loss on securities	139,000	76,000
Dividend income	(3,061,000)	0
Gain on securities	(8,347,000)	0
Changes in operating assets and liabilities, net of effects from discontinued operations:
Receivable from Front Yard	3,414,000	1,600,000
Prepaid expenses and other assets	56,000	(2,477,000)
Other non-current assets	1,553,000	699,000
Accrued salaries and employee benefits	(1,544,000)	(1,206,000)
Accounts payable and accrued liabilities	(7,064,000)	(119,000)
Other non-current liabilities and operating lease liabilities	1,854,000	956,000
Net cash used in continuing operations	(23,115,000)	(19,192,000)
Net cash from discontinued operations	5,439,000	37,798,000
Net cash from (used in) operating activities	(17,676,000)	18,606,000
Investing activities:
Purchases of securities	(96,950,000)	0
Dividends received	3,061,000	0
Proceeds from sale of interest in equity securities	152,796,000	0
Investment in property and equipment	(511,000)	(86,000)
Net cash from (used in) continuing operations	58,396,000	(86,000)
Net cash from discontinued operations	511,000	3,643,000
Net cash from investing activities	58,907,000	3,557,000
Financing activities:
Proceeds from borrowed funds	28,549,000	0
Repayment of borrowed funds	(28,549,000)	0
Conversion of preferred stock	(3,763,000)	0
Proceeds and payment of tax withholding on exercise of stock options, net	5,000	14,000
Shares withheld for taxes upon vesting of restricted stock	(1,046,000)	(311,000)
Net receipts (payment) from subsidiaries included in disposal group	(80,000)	1,010,000
Net cash from (used in) continuing operations	(4,884,000)	713,000
Net cash from (used in) discontinued operations	80,000	(1,010,000)
Net cash used in financing activities	(4,804,000)	(297,000)
Net change in cash and cash equivalents	36,427,000	21,866,000
Effect of exchange rate changes on cash and cash equivalents	115,000	(24,000)
Consolidated cash and cash equivalents, beginning of period	41,807,000	19,965,000
Consolidated cash and cash equivalents, end of the period	78,349,000	41,807,000
Supplemental disclosure of cash flow information (continuing and discontinued operations):
Cash paid for interest	60,000	0
Income taxes paid	2,103,000	428,000
Right-of-use lease assets recognized - operating leases	308,000	0
Cash and cash equivalents	78,349,000	41,623,000
Consolidated cash and cash equivalents	78,349,000	41,807,000
Held-for-Sale
Cash and cash equivalents included in assets of discontinued operations	$ 0	$ 184,000

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations


	December 31, 2021		December 31, 2020
Current assets held for sale:
Cash and cash equivalents	$	—	$	184

Prepaid expenses and other assets	—		710
Total current assets held for sale	—		894

Non-current assets held for sale:
Right-of-use lease assets	—		1,612
Other non-current assets	—		367
Total non-current assets held for sale	—		1,979
Total assets held for sale	$	—	$	2,873

Current liabilities held for sale:
Accrued salaries and employee benefits	$	—	$	910
Accounts payable and accrued liabilities	—		300
Short-term lease liabilities	—		128
Total current liabilities held for sale	—		1,338

Non-current liabilities held for sale:
Non-current lease liabilities	—		1,599
Total non-current liabilities held for sale	—		1,599
Total liabilities held for sale	$	—	$	2,937

The following table details the components comprising net income from our discontinued operations ($ in thousands):


	Year ended December 31,
	2021		2020
Revenues from discontinued operations:
Management fees from Front Yard	$	—	$	13,713
Termination fee from Front Yard	—		46,000

Expense reimbursements from Front Yard	—		2,867
Total revenues from discontinued operations	—		62,580

Expenses from discontinued operations:
Salaries and employee benefits	—		5,592
Legal and professional fees	—		256
General and administrative	—		1,521
Total expenses from discontinued operations	—		7,369

Other income (loss) from discontinued operations:
Gain on disposal	7,485		—
Other income (loss)	—		20
Total other income (loss) from discontinued operations	7,485		20

Net income from discontinued operations before income taxes	7,485		55,231
Loss on disposal of discontinued operations before income taxes	—		102
Income tax expense	1,272		588
Net income from discontinued operations	$	6,213	$	54,541

The following table details cash flow information related to our discontinued operations for the periods indicated ($ in thousands):


	Year ended December 31,
	2021		2020
Total operating cash flows from discontinued operations	$	5,439	$	37,798
Total investing cash flows from discontinued operations	511		3,643
Total financing cash flows (used in) from discontinued operations	80		(1,010)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. Virgin Islands income tax rate	23.10%	23.10%
State and local income tax rates	0.00%	(0.10%)
EDC benefits in the USVI	(48.20%)	(33.00%)
Foreign tax rate differential	(0.20%)	(0.20%)
Subpart F income	(18.50%)	0.00%
Permanent and other	(1.60%)	(1.50%)
Share-based compensation	(0.20%)	(0.50%)
Valuation allowance	(4.80%)	(1.10%)
Foreign Tax Credit	13.60%	0.00%
Other Adjustments / Rate difference on US NOL carryback	0.00%	7.90%
Effective income tax rate	(36.80%)	(5.40%)

Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

11. 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,
	2021		2020
Numerator
Continuing operations:
Net loss from continuing operations	$	(12,217)	$	(14,720)
Amortization of preferred stock issuance costs	—		(42)
Gain on preferred stock transactions	87,961		—
Numerator for basic and diluted EPS from continuing operations – net income (loss) from continuing operations attributable to common stockholders	$	75,744	$	(14,762)



Discontinued operations:
Numerator for basic and diluted EPS from discontinued operations - net gain from discontinued operations	$	6,213	54,541

Total:
Net income (loss)	$	(6,004)	$	39,821
Amortization of preferred stock issuance costs	—		(42)
Gain on preferred stock transactions	87,961		—
Numerator for basic and diluted EPS - net income attributable to common stockholders	81,957		39,779

Denominator
Weighted average common stock outstanding – basic	2,002,111		1,631,326



Weighted average common stock outstanding – diluted	2,162,378		1,631,326

Earnings (loss) per share of common stock – basic:
Continuing operations - basic	$	37.83	$	(9.05)
Discontinued operations - basic	3.11		33.43
Earnings per basic common share	$	40.94	$	24.38

Earnings (loss) per share of common stock – diluted:
Continuing operations - diluted	$	35.03	$	(9.05)
Discontinued operations - diluted	2.87		33.43
Earnings per diluted common share	$	37.90	$	24.38


	Year ended December 31,
	2021		2020
Numerator
Reversal of amortization of preferred stock issuance costs	$	—	$	42

Denominator
Stock options	—		7,609
Restricted stock	—		67,616
Preferred stock, if converted	—		200,000

Fair Value of Financial Instruments - Fair Value Measurements, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Front Yard common stock	$ 0	$ 47,355
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Front Yard common stock		47,355
Fair Value Measurements, Recurring \| Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Front Yard common stock		47,355
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]
Front Yard common stock		47,355
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]
Front Yard common stock		0
Fair Value Measurements, Recurring \| Common Stock \| Level 3, Unobservable inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Front Yard common stock		$ 0

Organization and Basis of Presentation (Details)							3 Months Ended		12 Months Ended
Organization and Basis of Presentation (Details)	Feb. 17, 2022 USD ($)	Jan. 06, 2022 USD ($) investor shares	Aug. 27, 2021 USD ($) shares	Feb. 17, 2021 USD ($) shares	Feb. 03, 2020 USD ($) $ / shares	Jan. 27, 2020	Mar. 31, 2022 USD ($)	Mar. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Jan. 01, 2019 USD ($)	Dec. 29, 2016 series_of_preferred_stock shares	May 26, 2016 $ / shares
Organization and Basis of Presentation [Line Items]
Preferred stock, shares issued (in shares) \| shares								250,000	250,000	250,000
Proceeds from issuance of convertible preferred stock								$ 250,000,000
Temporary equity, redemption period								5 years
Redemption price per share (in USD per share) \| $ / shares					$ 1,000			$ 1,000
Preferred stock, conversion price per share (in USD per share) \| $ / shares								$ 1,250
Exchange ratio for preferred stock to common stock								0.8
Damages sought					$ 150,000,000
Loss contingency, damages awarded, number of business days to pay				3 days
Preferred stock conversion									$ 95,014,000
Preferred stock, par value (in 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 (in shares) \| shares													1,000
Accounts payable and accrued liabilities									$ 3,465,000	$ 9,152,000
Dividends declared and paid on preferred stock										1,600,000
Right-of-use lease assets									825,000	656,000
Lease liabilities									859,000
Cumulative-effect adjustment to retained earnings									(76,528,000)	(166,578,000)	$ (207,928,000)
Accounting Standards Update 2016-02
Organization and Basis of Presentation [Line Items]
Right-of-use lease assets												$ 2,800,000
Lease liabilities												2,800,000
Subsequent event
Organization and Basis of Presentation [Line Items]
Number of institutional investors in settlement agreement \| investor		2
Additional Paid-in Capital
Organization and Basis of Presentation [Line Items]
Preferred stock conversion				$ 71,900,000					95,012,000
Cumulative-effect adjustment to retained earnings									143,523,000	46,574,000	44,646,000
Preferred stock
Organization and Basis of Presentation [Line Items]
Accounts payable and accrued liabilities									12,000	11,000
Retained Earnings
Organization and Basis of Presentation [Line Items]
Cumulative-effect adjustment to retained earnings									$ 57,450,000	$ 63,426,000	$ 23,662,000
Retained Earnings \| Cumulative Effect, Period of Adoption, Adjustment
Organization and Basis of Presentation [Line Items]
Cumulative-effect adjustment to retained earnings												$ (100,000)
Altisource Asset Management Corporation v. Luxor Capital Group, LP
Organization and Basis of Presentation [Line Items]
Threshold period to request company to redeem shares (years)						5 years
Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Forecast
Organization and Basis of Presentation [Line Items]
Gain related to litigation settlement							$ 5,100,000
Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Putnam
Organization and Basis of Presentation [Line Items]
Loss contingency, damages awarded				1,636,000
Loss contingency, damages awarded, due on one-year anniversary of the effective date of the agreement				$ 1,227,000
Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Putnam \| Subsequent event
Organization and Basis of Presentation [Line Items]
Loss contingency, damages awarded, due on one-year anniversary of the effective date of the agreement	$ 1,200,000
Settlement Agreement with Wellington
Organization and Basis of Presentation [Line Items]
Litigation settlement, amount awarded to other party			$ 2,093,000
Gain related to litigation settlement			16,100,000
Minimum
Organization and Basis of Presentation [Line Items]
Damages sought					144,212,000
Minimum \| Altisource Asset Management Corporation v. Luxor Capital Group, LP
Organization and Basis of Presentation [Line Items]
Threshold number of business days to give prior notice to redeem shares (days)						15 days
Maximum \| Altisource Asset Management Corporation v. Luxor Capital Group, LP
Organization and Basis of Presentation [Line Items]
Threshold number of business days to give prior notice to redeem shares (days)						30 days
Series A Preferred Stock
Organization and Basis of Presentation [Line Items]
Preferred stock, liquidation preference					$ 250,000,000
Series A Preferred Stock \| Subsequent event
Organization and Basis of Presentation [Line Items]
Preferred stock, liquidation preference		$ 5,790,000
Litigation settlement, shares awarded from other party (in shares) \| shares		5,788
Series A Preferred Stock \| Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Subsequent event
Organization and Basis of Presentation [Line Items]
Litigation settlement, amount awarded to other party		$ 665,000
Series A Preferred Stock \| Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Putnam
Organization and Basis of Presentation [Line Items]
Shares converted (in shares) \| shares				81,800
Series A Preferred Stock \| Settlement Agreement with Wellington
Organization and Basis of Presentation [Line Items]
Preferred stock, liquidation preference			$ 18,200,000
Litigation settlement, shares awarded from other party (in shares) \| shares			18,200
Common Stock \| Luxor Capital Group, LP, et al. v. Altisource Asset Management Corporation \| Putnam
Organization and Basis of Presentation [Line Items]
Shares issued related to conversion of stock (in shares) \| shares				288,283
Redeemable Preferred Stock
Organization and Basis of Presentation [Line Items]
Preferred stock, shares issued (in shares) \| shares									1,200	1,100

Related-Party Transactions - Amended AMA Narrative (Details) - Front Yard - Amended AMA - Affiliated entity $ / shares in Units, $ in Thousands	May 07, 2019 USD ($) $ / shares
Related party transaction [Line Items]
Related party contract term	5 years
Automatic renewal term	1 year
Revenue from related parties \| $	$ 3,584
Additional for the quarter exceeds per share (in usd per share) \| $ / shares	$ 0.15

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
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+ Details

Discontinued Operations - Balance Sheet (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets held for sale:
Total current assets held for sale	$ 0	$ 894,000
Non-current assets held for sale:
Total non-current assets held for sale	0	1,979,000
Total assets held for sale	0
Current liabilities held for sale:
Total current liabilities held for sale	0	1,338,000
Non-current liabilities held for sale:
Total non-current liabilities held for sale	0	1,599,000
Total liabilities held for sale	0
Held-for-Sale
Current assets held for sale:
Cash and cash equivalents	0	184,000
Prepaid expenses and other assets	0	710,000
Total current assets held for sale	0	894,000
Non-current assets held for sale:
Right-of-use lease assets	0	1,612,000
Other non-current assets	0	367,000
Total non-current assets held for sale	0	1,979,000
Total assets held for sale	0	2,873,000
Current liabilities held for sale:
Accrued salaries and employee benefits	0	910,000
Accounts payable and accrued liabilities	0	300,000
Short-term lease liabilities	0	128,000
Total current liabilities held for sale	0	1,338,000
Non-current liabilities held for sale:
Non-current lease liabilities	0	1,599,000
Total non-current liabilities held for sale	0	1,599,000
Total liabilities held for sale	$ 0	$ 2,937,000

Fair Value of Financial Instruments - Summary of Cost Basis, Fair Value, and Unrealized Gains (Losses) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Front Yard common stock	$ 0	$ 47,355
Common Stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 0	41,635
Gross Unrealized Gains		5,720
Gross Unrealized Losses		0
Front Yard common stock		$ 47,355

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies 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 variable interest entities (“VIEs”) for consolidation where we are the primary beneficiary. We had no VIEs or potential VIEs as of and for the years ended December 31, 2021 or 2020. Earnings per share Basic earnings per share is computed by dividing net income or loss, 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 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. Any gain on settlement of preferred shares, which is recorded directly to equity, is included in the numerators for our earnings per share calculations. 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. Front Yard common stock The shares of Front Yard common stock that we held was reported at fair value based on unadjusted quoted market prices in active markets. Changes in the fair value of Front Yard common stock are recognized through net income. We held no Front Yard common stock as of January 12, 2021. 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. Lastly, the Company accounts for the tax on global intangible low-taxed income (“GILTI”) as incurred and therefore has not recorded deferred taxes related to GILTI on its foreign subsidiaries. Leases On January 1, 2019, we adopted ASU 2016-02, including various associated updates and amendments, which together comprise the requirements for lease accounting under ASC 842. ASU 2016-02 fundamentally changes accounting for operating leases by requiring lessees to recognize a liability to make lease payments and a right-of-use asset over the term of the lease. We also adopted the “package of practical expedients,” which permits us not to reassess our prior conclusions about lease identification, lease classification and initial direct costs under the new standard. We also elected the short-term lease exemption for all leases that qualify; as a result, we will not recognize right-of-use assets or lease liabilities for leases with a term of less than 12 months at inception. We lease office space under two operating leases. Our office leases are generally for terms of one to five years and typically include renewal options, which we consider when determining our lease right-of-use assets and lease liabilities to the extent that a renewal option is reasonably certain of being exercised. Along with rents, we are generally required to pay common area maintenance, property taxes and insurance, each of which vary from period to period and are therefore expensed as incurred. Other non-current assets Other non-current assets includes leasehold improvements; furniture, fixtures and equipment; deferred tax assets and miscellaneous other 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. Assets and liabilities held for sale Assets and liabilities held for sale in 2020 represent the disposal group held at the lower of cost or fair value less estimated costs to sell. The Company had no assets and liabilities for sale in 2021. See Note 3 for further information on Discontinued Operations. Revenue recognition Under the Amended AMA, we administered certain of Front Yard's business activities and day-to-day operations and provided corporate governance services to Front Yard. Base Management Fees were earned by us ratably throughout the applicable quarter and are initially based on Front Yard's Adjusted AFFO (as defined in the Amended AMA), subject to a minimum amount and certain potential adjustments. See Note 8 for further information on the asset management agreements with Front Yard. We have evaluated the nature of the services provided to Front Yard and have determined that such services constitute a series of distinct services that should be accounted for as a single performance obligation completed over time, which is simultaneously performed by us and consumed by Front Yard. Therefore, we earn management fees are ratably over the applicable fiscal period. Under both the Amended AMA and the Former AMA, we received expense reimbursements from Front Yard for the compensation and benefits of the General Counsel dedicated to Front Yard and certain operating expenses incurred on Front Yard's behalf. These expense reimbursements were earned by us at the time the underlying expense is incurred. In addition, under the Former AMA, we also received conversion fees based on a percentage of the fair value of properties that became rented for the first time in each quarter. Such conversion fees were earned by us in the quarter that the conversion to rentals occurred. We have determined that the expense reimbursements are variable consideration, and we recognize each component of this revenue on a quarterly basis up to the amount that would likely not be reversed. Share-based compensation We amortize the grant date fair value of restricted stock as expense on a straight-line basis over the service period with an offsetting increase in stockholders' 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. We recognize share-based compensation expense related to (i) awards to employees in salaries and employee benefits and (ii) awards to Directors or non-employees in general and administrative expense in our consolidated statements of operations. Forfeitures of share-based awards are recognized as they occur. Treasury stock We account for repurchased common stock under the cost method and include such treasury stock as a component of total stockholders’ 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.