W.J. Bradley Mortgage Capital, LLC Introduces Broker-Dealer Subsidiary Direct Access to Capital Markets Will Drive Price and Product Advantages for Origination Business
DENVER, May 6, 2013 /PRNewswire/ -- W.J. Bradley Mortgage Capital, LLC (W.J. Bradley), a Colorado-based mortgage banking firm, today announced the acquisition of W.J. Bradley Investment Banking/Capital Markets, a FINRA-approved, SEC-registered broker-dealer. As a wholly owned subsidiary, the company's new broker-dealer will operate under the name W.J. Bradley Financial Services, LLC (WJBFS).
William J. Bradley, founder and CEO of W.J. Bradley, said, "Through WJBFS, we add new levels of efficiency to our mortgage operation and best position the firm to take advantage of coming opportunities in the market. As the mortgage landscape and capital markets climate continue to evolve, we must remain agile. From a competitive perspective, a dedicated broker-dealer gives us a material strategic advantage."
W.J. Bradley also announced that it has appointed industry veteran Kent Usell as president of WJBFS. Usell most recently served as managing director of Banc of Manhattan Capital. Earlier in his career, Usell served as senior vice president of ARM trading for Countrywide Securities Corporation.
"A dedicated broker-dealer operation provides W.J. Bradley direct access to a broad range of capital market participants from mortgage companies to end investors, such as insurance companies, pension funds and private equity funds," said Usell. "As production volume and trading presence grow, this will offer better pricing, product options and market intelligence to W.J. Bradley."
W.J. Bradley Mortgage Capital, LLC was a significant issuer of agency MBS in 2012. The company also sold non-conforming production to leading banks, Wall Street investors and REITs. WJBFS plans to make market in agency MBS, trade legacy private-label securities, and become an issuer of non-agency securities.
About W.J. Bradley Mortgage Capital, LLC
W.J. Bradley Mortgage Capital, LLC is a residential mortgage banking firm, founded in 2002 and headquartered in Centennial, Colorado with centralized fulfillment operations in Salt Lake City, Utah. In 2012, W.J. Bradley Mortgage Capital, LLC originated more than $6.4 billion in residential home loans and is currently on a run-rate to originate more than $8 billion in residential home loans in 2013. With more than 80 branch locations throughout the United States, the company is licensed in 28 states and currently operates with more than 1,500 professionals.
SOURCE W.J. Bradley Mortgage Capital, LLC