The rise and fall of Allonhill
Allonhill founder Sue Allon still remains adamant that she will bring integrity back to the mortgage market. Per the Denver Business Journal:
“I remain committed to my industry and, despite the challenges and disappointments, to working to bring the standardization and integrity that Allonhill has always fought for,” Allon said in an email to the Denver Business Journal Tuesday in response to questions about the judge’s ruling.
This follows Allonhill losing a contract with the Office of the Currency of the Comptroller in May 2012 since the due diligence firm was inconsistent with the independence requirements for independent consultants.
In all, Allonhill reviewed 67 loans under its IFR contract with Aurora that were also reviewed under its contracts with Fannie Mae and Freddie Mac, and some loans were reviewed by the same analysts in both sets of engagements, according to Denver District Court Judge Edward Bronfin’s ruling.