Mortgage lender fails with Alt-A, suddenly closes

mortgage lenders

by MPA

mortgage lendersIn what will come a s huge surprise to many in the industry, residential mortgage lender WJ Bradley Mortgage Capital has suddenly ceased lending, posting a notice on its website to that effect. “After consulting with its advisors, the company determined that an orderly wind-down is in the best interest of the company, its creditors and other stakeholders,” the site announced. “The Company ceased operations and stopped funding new loans on March 13, 2016.  It is hoped that undertaking the wind-down through this orderly process will reduce costs, avoid additional liabilities, minimize the impact on existing customers and maximize the value of the Company’s assets.”

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