W.J. Bradley Mortgage Capital in Centennial, Colo., will wind down its business, after it stopped funding new mortgage loans on Sunday.
"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," the website message says. W.J. Bradley did not indicate how many jobs will be eliminated.
W.J. Bradley also sent a memo to its origination staff on Sunday about the decision to cease operations, according to a person who received the memo.
W.J. Bradley did not return calls seeking comment.
A message on the company's telephone answering system provided an option for consumers about the transfer of mortgage servicing to LenderLive Solutions. LenderLive declined to comment.
W.J. Bradley is the third retail lender to stop originating loans in recent weeks, joining Walter Investment Management's
W.J. Bradley was one of the first companies to
