W.J. Bradley Mortgage Capital
Without specifying the Centennial, Colo.-based lender by name, David Stevens, president and CEO of the Mortgage Bankers Association, said uncertainty about how
"One of the recent announcements of a large mortgage lender that shut their doors in the last several days, I quite frankly believe it has a lot to with this, [is] the loss over a cap line with an investor. They were rejected on the nonagency side," Stevens said Wednesday during a speech at the Regional Conference of MBAs, taking place this week in Atlantic City, N.J.
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The Consumer Financial Protection Bureau's new integrated disclosure regulations could pose problems for warehouse line providers along with their mortgage lender clients.
July 23 -
Many institutional investors are refusing to purchase mortgages loans until they get assurance from the CFPB that they won't have to pay for others' mistakes. Their pullback could further the slow the issuance of private-label mortgage bonds this year, a huge concern at a time when the majority of home loans are insured by Fannie, Freddie and the FHA.
February 9
W.J. Bradley was one of the first lenders to roll out a
Previous attempts to contact the company were not successful and a new attempt to contact W.J. Bradley for further comment has not been returned.
A memo obtained by National Mortgage News sent by W.J. Bradley to its employees on March 13 only states the company made "a strategic decision to wind down their businesses." It did not specify why.
Before the TRID rules took effect, lenders and compliance experts expressed concerns about the
