Mortgage Tree Lending - Retail Originator, Non-Prime Centric

Mortgage Tree was to be acquired by WJ Bradley Company as of the beginning of April, but sources tell us that that deal apparently has fallen through. The following profile, which was listed for Mortgage Tree on WJ Bradley's company portfolio list, is now gone:

MortgageTree Lending Corporation - 2007
Founded in Modesto, California in 1986, MortgageTree Lending Corporation is a privately held retail originator of residential mortgage loans that acts as both a mortgage banker and broker. In 2006, the company originated $788 million in residential mortgage loans. The company holds mortgage license authority in 32 states, has 390 employees and originates conforming, non-conforming and subprime loans out of its 55 retail branch offices located throughout the country.

Here is a description of WJ Bradley (which is still going, as far as we know):

Our Portfolio Companies are residential mortgage originators with superior management teams, sustainable competitive advantages, and identifiable value enhancement opportunities. Since January 2005, WJB has orchestrated 10 acquisitions of residential mortgage bankers and brokers. Our Portfolio Companies generated approximately $5 billion in origination volume in 2006 across the spectrum of the A, Alt-A, Alt-B, and subprime product classes. Collectively, WJB's companies originate loans in 40 states, occupy more than 200 office locations, and employ approximately 1,500 mortgage professionals.