Complaint Review: WJ Bradley Mortgage - Bonita Springs Florida

Here's my experience with WJ Bradley as a TOP PRODUCING Loan Officer. I know the comment below isn't about my production because I would be more than happy to show you...contact me directly: [email protected] If you saw the top 10 loan officers on NILE, my name was on there month after month right under Shelly Lodgemann, Craig Bramlett & Jones. 

I would like to explain my experience with WJ Bradley  as I was with the company from August 2011 until August of 2013. After being a very loyal employee and top producer I have seen the beginning and end of WJ Bradley and want all new prospective or current employees to understand what I went through so they don’t make the same mistake. 

During the first 8 months of my employment at WJ Bradley it was great, they were still a smaller organization and they really put the loan officers first. Over the course of my employment they acquired smaller broker shops to come aboard as WJ Bradley and then found some larger ones which really affected how the company operated. When HARP 2 came out and when they acquired Legacy and Emery Financial was really when the company changed gears. 

Below are a few things that they changed for ONLY the ones who worked at smaller shops:(Remember we started with the company and were the truly loyal ones).

• Underwriting turn times went from 16 business hours to sometimes over 15 business days!
• We were unable to submit a loan without it being locked and the appraisal back in on refinances. Purchases we had to have the loan locked, appraisal was not required back to submit the loan at this time.
• Lock Extensions? Good luck getting one of those credited to you because it was the companies fault. They would find any reason in the book to say it was your fault rather than their insane turn times which caused the extension. I maybe was able to get a couple locks extended with the cost of the company and I was one of their top producers ranked in the top 50 loan officers month after month.
• Overlays, overlays, overlays – they would have these stupid rules unlike any other lender which prevented you from funding the loans. They were more concerned with the price they were able to sell the loans on the secondary market and wanted “perfect loans.” Many of my clients ended up getting funded from a different company that actually worked under the guidelines.
• INTEREST RATES! There is an extreme amount of competition between branches and corporate and most of the larger branches had better pricing than the smaller ones. Why? Because they did more volume and were able to secure a better bottom line than the other branches. This created competition even locally between branches and should never be the case. We shouldn’t be competing against the same company; it only causes problems down the line.

These are just a few of the reasons I decided to leave WJ Bradley and it seems like I left at the right time! 

Now to explain what happened to me both during and after my resignation/termination with WJ Bradley.

I worked in the Rancho Bernardo office which Rick Sidley was the branch manager and Nick (Dominic) Carcioppolo was the “Operations Manager” who really didn’t do much. Rick Sidley was rarely in the office and still to this day I can’t understand what Nick was doing there besides creating these really colorful spreadsheets. How did this help our business, I have absolutely no idea and I know for a fact he was paid an ungodly salary for this. This caused an extreme amount of turmoil in our office bringing Nick on board. I have to say that this was the end of our group, not because he was a bad guy but more because of what transpired after he was hired. We had two teams at this branch, what you would call Inside Loan Officers who took leads and Outside Loan Officers which brought in their own business like me. The Inside loan officers did not like the way that Nick Carciopollo was managing them and that team diminished extremely quick, within a couple months of his start date over ¾ of that team left for other companies. In the meantime I was still hanging on because I believed in WJ Bradley Mortgage Capital. From January until the date that I left in August we lost over 28 employees and were only down to about 6-7 people left, 4 of them being loan officers. 

During my course of employment with WJ Bradley:

• I ruined almost every single one of my realtor relationships.
• Not once did I close a purchase on time (and I dare you WJ Bradley to prove me wrong)
• Got absolutely no support with what I needed, built my business completely on my own
• Lost 2 amazing personal assistants, one because they called out the flaws to help. Rick Sidley the branch manager didn’t like this, and the other because they “couldn’t afford her” but COULD afford someone making a 6 figure salary that did nothing but create spreadsheets.
• Processing was a nightmare, these people would go out on smoke breaks every 15 minutes, never get work done and lie about what they were supposed to get done. Turns out one of the processors was working for another company on the side and was never fired even though Rick Sidley was aware of this going on for months. I never knew how good a processor could really be until I joined the company I’m with now.
• Illusions that there was an overage account that I could use towards marketing, I never saw anything of this nature.
• Assistants were misled and didn’t get the bonuses they were promised, my assistant started out below minimum wage and remained that way for almost a year. Most of the time they had to fight just to get their bonuses and reach out to corporate to make sure it was taken care of.

What happened after I gave my notice of resignation?

• Was terminated the day after I gave my notice when Rick Sidley led me to believe it was in his best interest for me to remain employed until my start date with the new employer. The day I was driving into the office (not knowing I was being terminated) I received a phone call from one of the other WJ Bradley branches who said “Erik, SO I can FINALLY talk to you now” – This was from David Lippe & Mark Schellhaus  with the Consumer Direct division who I researched months earlier and even sent them a few deals just to see how they operate (of course never getting paid). They tried to recruit me to their branch and said “Erik, so should I hold onto your termination” – I said “Sure, why not!” – In the back of my head I was thinking “Are you guys crazy? Do you really think I want to be a part of this organization? This phone call I received was before I had any idea what I was walking into that day at work, and of course as soon as I walk in the door, half of the processors are fired, another branch manager quit, my assistant and I were both told to pack up our things and leave.
• Did I get paid on my deals funded after I left from WJ Bradley? No, I was led to believe that I would get paid on all my deals that funded after I left as long as they were within 30 days of my resignation which was mentioned specifically in my contract of employment. After calling multiple times the only answer I received until recently was “You will get paid under the terms of your contract” – 3 weeks went by and I didn’t see a dime and called HR back again, where’s my money?Laurel Timmons with HR at WJ Bradley Mortgage Capital informed me over the phone that I will NOT be getting paid on anything that funded after I left the company. Oh Really?!?!? This is not what my employment contract stated and I will be pursuing not only labor board but also federal labor lawsuits against them as it’s not a small amount of money, quite large in fact.
• Rick Sidley promoted working overtime but specifically stated that he would not pay overtime.
• Rick Sidley is actively pursuing my old clients by calling them and e-mailing them as he was recently demoted from branch manager to loan officer as they finally understood his management skills were lacking in quality and experience. He is now grabbing for straws, I know this for a fact because not only did my client reach out to me but I also sent a mock e-mail to see if he would call me back acting as a new client and of course he did!

All in all Rick Sidley and WJ Bradley Mortgage Capital are lacking in integrity and morals and if you are a current or prospective employee, run for the hills! Make sure to close out your pipeline before you leave and make no mention that you’re leaving before you do that otherwise they will absolutely try and take advantage of you. They unfortunately picked on the wrong guy this time and I hope this information spreads as you need to be aware of who you’re working with. Feel free to contact me directly about this post as it’s the complete truth and I have documentation to support my claims, in no way is this false advice or inaccurate information.

I just have to say that I worked in the WJB office in Bonita Springs, when this employee used to work at WJB.  I think this employee stood in front of the unemployment line to get his business.  (I'm serious).  He took very incomplete applications, for people that had no money, bad credit, and wouldn't have gotten a loan from anyone.  It's no wonder he didn't close any loans on time, because his files should never have been loans to begin with.  This employee did not just leave - he was asked to leave for the fraudelent material we found in his files.  It's a shame that this employee had to say the things he did about such an AWESOME company.  I personally had to leave Florida for medical reasons.  I would definitly go back to work for WJB in a heartbeat.  I have been in this business for many years, and your company is only as good as the employees it has.  This employee thank goodness is gone, because he was a rotten egg, and continues to spoil it for everyone.  In his mind he may have thought he was a top producer...because he turned in so many files, but the old saying is true:  Garbage in,  = Garbage out!! - And, that is what this employee is all about.  He should be banned from this industry all together.  Once I went onto a website, to see reviews of hotels.  A client said - do not stay at the Bellagio because that hotel had bad bed bugs.  Well, I stayed at the Bellagio, and I can tell you it was a first class hotel, with no bed bugs.  Same is true for WJB.  You have people that will put claims into sites like this - to try an steer business away.  But, the fact of the matter is that WJB was ranked #17 in 2013 by Mortgage Executive Magazine, and #8 in 2012 for one of the top Mortgage Bankers in the country.  Don't let fools who write nonsense, sway you in your decision.  Ask your Realtors if they have ever worked with WJB - they would be the people first hand, who can tell you the truth about how WJB conducts business, and processes loans.  They can process a loan and close a loan faster than anyone that I know. 

Again, being an ex manager, you are not a top producer and you forgot to mention WJ Bradley was the 3rd place you worked in 4 years...and from your initial interview, every place you worked had problems closing loans on time...and we soon realized your "top producer" status was really pretty inflated. I personally had to work on salvaging a couple of your loans from major pricing and structuring issues.

If you can't close your loans on time at WJ Bradley as a loan officer, you need to seriously think about hanging it up and getting out of the business. 

I have no incentive in writing this rebuttal, just can't stand to see a place I love get slammed by horrible people that either don't understand the business, or really need to retire and move on.

If you want your loan closed on time by seasoned professionals, this is the place to call.

IF YOU WANT THE REAL TRUTH, READ BELOW....

 I was the branch manager at WJ Bradley in Bonita Spings for over 4 years. I have since relocated, and had to leave the company, not because I wanted to , rather becuase they are not licensed where I currently live.

WJ Bradley is THE BEST place to not only originate mortgages, but also get your new home loan. Thier loan officers are seasoned and top producers for thier areas.

If a loan officer cannot close a loan on time, trust me from experiance, it is not the fault of the company, but a lazy loan officer that cannot understand the basic concepts of collection of documenation from teh borrowers. I personally closed hundreds of loans there, and most all ususally 2 weeks before the close date...

I ran across this Rip Off report in a search I was doing for a co worker to show them where I used to work. I am taken back by the aligations against the branch, and years later, I actually remember this client in particualar. She was not my client, but rather one of the other loan officers in my branch, and I had the certain "pleasure" of having to deal with her during her "confusion".

I want to set the record straight on the loan officer and client. WJ Bradley will ONLY hire seasoned loan officers with years of experience at their firm. This loan officer has over 10 years of experience and has provided home loans to literally thousands of clients. He is well respected, well known, and is \ has been a top producer for most of his 10 years in doing loans. You dont' get that business by working in the manner this client discribes...

Now let's review this client in particular...she has no money in the bank, no ability to save over time, is low to moderate income, and has poor credit looking for a USDA loan which is 100% financing, AND looking for all the closing costs to be paid for by other people....sounds like a really good borrower, right? Would you lend her your own money, lets say $100,000 to buy a house....I didn't think so either, BUT, that loan does exsist, and we write them through the USDA program. USDA has certain guidelines to how much seller consession can be on a loan, and this loan had too much, so it had to be reduced. The appraisal came in low on value, which is not fault of the company.

This client was the most unappreciative, rudest, and just overall evil person I have ever met in my 10 years of doing loans. I hate to see WJB's  name get dragged through the mud for the comments of this ungrateful and undeserving client. She forgot to mention her calls to our corporate office with false statements, and threats to call the state to try and pull our business license. We seriosly had to call the police to keep her from coming to the office.....

WJB DID give her a large credit to cover the missing costs, and did what was right, which DID delay the closing, but the credits had to get approved by USDA, a 3rd party, which takes some time.

This client closed on her loan, got her 100% financing, and came out of pocket next to nothing.

If you need a USDA loan, you NEED TO contact them, they are the BEST shop in town. Or any loan for that matter.

Your review isn't surprising. I worked for the company for 2 years and not once did I close a purchase on time. What a nightmare it was while I was there and I'm a top producing loan officer. Don't believe their shennanigans, run the other direction and find a reputable mortgage company that can close your loan on time. 

On behalf of W.J. Bradley Mortgage Capital, LLC (WJB), I wish to sincerely apologize to the above consumer for the delay in her home loan closing.  At the same time, I also want to congratulate her as well for achieving her home financing goal and her aspiration of homeownership!

The USDA loan she obtained is definitely a niche product, and is not offered by most banks and lenders.  It is insured by the U.S. Dept. of Agriculture and the loan's biggest feature is its 100% financing option which is the only home loan product like it at this time.

Because it is a riskier loan, and because WJB as a lender does not insure them, they are underwritten by USDA directly and with very strict criteria based on income, credit and property qualifications.  Because of the demand and popularity of this product, and the advantages of the offer of zero money down, and a lower, USDA set interest rate; there is often a delay in processing, underwriting and general turnaround times established by USDA.

Depending on the property location, these loans can take weeks in line to finally be reviewed and approved by USDA, and then ultimately the lender.  Expectations should be set up front to make arrangements wth landlords and to be practical with setting reasonable closing dates.

We truly stand behind our product, our service and our reputation in the lending business and know that these are tough times to lend in, and that we do our very best to inform our consumers to make rational decisions.

Sincerely,
WJB