If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  £

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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(1)

Includes (a) 287,472 shares of common stock held directly and (b) 5,452,489 shares of common stock held by Salt Pond Holdings, LLC, a U.S. Virgin Islands limited liability company (“Salt Pond”) of which Mr. Erbey, the Frederiksted Trust, a U.S. Virgin Islands trust (the “Trust”), and Erbey Holding Corporation, Inc., a Delaware corporation (“Erbey Holding” and, together with Mr. Erbey, Salt Pond and the Trust, the “Reporting Persons”) are members.  Erbey Holding is wholly owned by Mr. Erbey.  Mr. Erbey, John Erbey (Mr. Erbey’s brother), and Salt Pond are co-trustees of the Trust.  Mr. Erbey, the Trust and Erbey Holding each may be deemed to beneficially own the 5,452,489 shares of common stock held by Salt Pond.

(2)	Shares of common stock held by Mr. Erbey’s spouse, E. Elaine Erbey (“Mrs. Erbey”).

(3)	Includes (a) 287,472 shares of common stock held directly; (b) 547,511 shares of common stock held by Mrs. Erbey and (c) 5,452,489 shares of common stock held by Salt Pond.

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(4)	Shares held directly by Mrs. Erbey.

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(5)	Includes 5,452,489 shares held by Salt Pond Holdings, LLC.

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(6)	Includes 5,452,489 shares held by Salt Pond Holdings, LLC.

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(7)	Shares held directly by Salt Pond Holdings, LLC.

*	The ownership percentage for each Reporting Person is based upon 18,349,451 shares outstanding as of July 15, 2016, as reported in the Issuer’s Form 10-Q for the quarter ended June 30, 2016.

This Amendment No. 5 to Schedule 13D (“Amendment No. 5”) amends and supplements the statement on Schedule 13D (the “Original Schedule 13D”) originally filed jointly by William C. Erbey (the “Principal Reporting Person”), Mrs. Erbey, FF Plaza Limited Partnership (“FF Plaza”), Delaware Permanent Corporation (“Delaware Permanent”) and Erbey Holding with the Securities and Exchange Commission on November 1, 2011 (as amended by Amendment No. 1 originally filed on January 16, 2015, Amendment No. 2 originally filed on March 4, 2015, Amendment No. 3 originally filed on March 6, 2015 and Amendment No. 4 originally filed on April 12, 2016 (“Amendment No. 4”), the “Schedule 13D”).  This Amendment No. 5 reflects a change to the reporting entities comprising the Reporting Persons and a disposition of beneficial ownership of securities in an amount exceeding one percent.  The Principal Reporting Person beneficially owns all of the shares of the Issuer beneficially owned by all of the Reporting Persons.  Since the filing of Amendment No. 4, (i) Mr. Erbey sold 500,000 shares of common stock held by Salt Pond, (ii) Mr. Erbey exercised his stock option to purchase 800,000 shares of common stock and his stock option to purchase 34,274 shares of common stock and (iii) Mr. Erbey gifted 547,511 shares of common stock to his spouse, Mrs. Erbey, who is now a reporting person.

Item 1. Security and Issuer.

The securities to which this Schedule 13D relates are the shares of common stock, par value $1.00 per share (“Common Stock”), of Altisource Portfolio Solutions S.A., a company organized under the laws of Luxembourg (the “Issuer”).  The principal executive offices of the Issuer are located at 40, avenue Monterey, L-2163 Luxembourg City, Grand Duchy of Luxembourg.

Item 2. Identity and Background.

Item 2 is amended and restated in its entirety as follows:

Financial Officer of Salt Pond.  Salt Pond is a service business providing merchant banking services and family office services, which encompass trading in stocks or securities and possibly financing operations for businesses.  The Trust is an irrevocable non-grantor trust.

Item 5.  Interest in Securities of the Issuer.

Item 5 is amended and restated in its entirety as follows:

For purposes of this Schedule 13D, the ownership percentage for each Reporting Person is based upon 18,349,451 shares of Common Stock outstanding as of July 15, 2016, as reported in the Issuer’s Form 10-Q for the quarter ended June 30, 2016.

Item 7. Material to be Filed as Exhibits.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.