W.J. Bradley Adds Mortgage Programs For Prime Borrowers In Untapped Market

Posted by Patrick Barnard on July 15, 2014 No Comments
Categories : Residential Mortgage

W.J. Bradley Mortgage Capital LLC, a Centennial, Colo.-based privately held mortgage banking firm, has introduced WJB | ONE, a portfolio of specialized first-mortgage programs that provide financing opportunities for prime borrowers who are ineligible for traditional lending programs.

The first portfolio program will offer financing for non-warrantable condominium projects. Available to W.J. Bradley retail branch locations across the country, the non-warrantable condominium loan product offers financing to eligible primary residence and second home buyers for condo projects that do not qualify under current Fannie Mae or Freddie Mac guidelines.

The company says it will introduce other WJB | ONE products throughout the second half of the year, such as those that serve high net-worth borrowers with liquid assets, as well as provide higher loan amounts for investment properties and cash-out refinance options for second homeowners who own multiple financed properties.

‘Our intention is to make loans available to well-qualified borrowers and still apply the same rigorous valuation, underwriting and fulfillment methods developed for our Agency and Conduit loan programs," says J. Michael Kime, chief operating officer. "We believe that we are well positioned to provide responsible loans to responsible borrowers beyond the lending opportunities that are currently available."

‘We have recognized a growing percentage of prospective home buyers with the means to own a home but with unique asset and income considerations that prohibit them from qualifying for traditional financing,’ adds Howard Michalski, executive managing director, business development. ‘We now have the opportunity to reach creditworthy borrowers who have been disenfranchised due to the various regulatory and credit policy changes, such as the Qualified Mortgage rule."

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