Private residential mortgage lender W.J. Bradley Mortgage Capital has suddenly shuttered its operations, according to the firm’s website.
“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,” a message posted to the firm’s homepage says.
W.J. Bradley ceased operations and stopped funding new loans on March 13, the company reports.
“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 company says.
Based in Centennial, Colo., W.J. Bradley was founded in 2002 and was licensed in 48 states. It operated about 80 branch locations and had more than 1,000 employees.