“This reduction in credit availability combined with challenging conditions in the markets for mortgage loans, which were conditions outside of the company’s control, along with related regulatory issues, have resulted in the company having insufficient available cash to continue operations,” she wrote.

“Despite the company’s exercise of commercially reasonable business judgment, it could not reasonably foresee these circumstances and therefore was unable to provide 60 or more days notice of the closing and related layoffs.”

Foster, when reached by telephone, declined further comment.

The letter said the closing and relating layoffs will be permanent, affecting the entire Chesterfield operation as well as other company offices outside of Virginia.

The notice didn’t say how many employees worked at other locations or where those locations are.

At one time, the company had a call center with hundreds of employees in San Diego and a servicing office in Lansing, Mich. It also operated a call center in the Arboretum office complex in Chesterfield.

It is unclear what developments took place that forced Live Well Financial to shut down.