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DENVER—The Denver-based credit risk management firm Allonhill is laying off about 140 employees.
Company chairwoman Sue Allon told The Denver Post on Friday that the layoffs are occurring following a decision to “walk away” from the transactional mortgage business because of its extreme time pressures and “very labor intensive” aspects ().
Allonhill grades loans for the country’s largest lenders and government-sponsored backers of mortgages.
Allon declined to say how many employees the company will have after the layoffs are completed.
The Denver Post reports the company had a peak of 650 workers before laying off 325 workers in May.
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Information from: The Denver Post,
