National mortgage company announces third round of layoffs in colorado

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Newrez LLC, a national mortgage company, is set to eliminate another 187 positions at its Greenwood Village office, starting on August 26. This is the third notice filed with the Colorado Department of Labor and Employment in 2024. The layoffs in Colorado are being reported under the federal Worker Adjustment and Retraining Notification (WARN) Act, which mandates that employers with more than 100 employees provide a 60-day notice of significant layoffs.

These layoffs are part of the company's broader strategy to downsize, following a previous elimination of 420 local positions that Newrez reported would occur in phases throughout July and early August. The first layoff was announced in may and effected 103 employees while the second layoff was announced in june and effected 317 employees. The total number of employees laid off is now 607. New rez hasn't announced the closure of its colorado offices.

The company has been downsizing since May 8, following the completion of a $720 million acquisition of Computershare Mortgage Services Inc. by Newrez's parent company, Rithm Capital Corp.

The layoffs will affect employees across various roles, including application specialists, loan servicing, controllers, software engineers, developers, and quality assurance employees.