Shelter Mortgage to lay off 63

Organizations:

Shelter Mortgage Co. LLC will lay off 63 employees from its office at 4000 W. Brown Deer Road in Brown Deer.

The layoffs are expected to begin on November 30, and will continue for 90 days. The employees do not have bumping rights or union representation.

Among the positions being eliminated are: Appraisal coordinator, associate general counsel, closer assistant, chief compliance officer, document control specialist, disclosure specialist, junior processor, systems analyst, loan processor and mortgage product specialist.

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The company filed a WARN notice with the state, but could not be reached for comment about the reason for the layoffs.

Shelter Mortgage announced this month that it has been acquired by Plymouth Meeting, Penn.-based New Penn Financial LLC and will become a subsidiary of New Penn Financial/Shellpoint Partners LLC.

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