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Colonial National Mortgage Opens New Office in Southlake, Texas
FORT WORTH, TEXAS, November 1, 2001 -- Colonial National Mortgage, a division of Colonial Savings F.A. and one of the nations largest originators of residential mortgages, has opened a new office at 410 North Carroll Avenue in Southlake, Texas. The DFW Metroplex office is the companys seventeenth nationwide. Assistant Vice President Clayton Porter will manage the branch. A top producing loan officer in northeast Tarrant County, Porter is an active member of the Texas Association of Mortgage Brokers.
Colonial National Mortgage offers more than 200 different loan products, including conventional, VA, FHA, adjustable rate, unique single close construction loans, and loans that require no down payments. Automated, onsite underwriting, processing and closing services are provided as well as access to consumer banking services through Colonial Savings F.A.
According to Jim E. DuBose, president and chief executive officer of Colonial Savings F.A., the new Southlake office represents part of the companys overall strategic plan to provide customers with a higher level of service and a wider selection of loan products at the most competitive rates. "Colonial is distinct in that we retain more than 95% of our loans for servicing. For customers, that means they have a long-term relationship with a company who knows them and the history of their loans. As their needs change over time, were able to offer products such as refinancing or home equity loan options without the complications and inconveniences associated with loans that are sold over and over to other companies."
Mark Dennis, vice president of retail operations for Colonial National Mortgage, said, "Southlake offers tremendous economic opportunity and quality of life, as indicated by population growth approaching 12% in the past decade. The number of families in Southlake has quadrupled since 1990, and the city has been very supportive of our decision to locate here."
Founded in 1952, Colonial Savings F.A. is a multi-service financial institution headquartered in Fort Worth Texas, and is one of the largest servicers of mortgage loans in the United States, with a servicing portfolio approaching $7 billion. It is the parent company of Colonial National Mortgage (formerly Fort Worth Mortgage), a leading residential mortgage lender; CU Members Mortgage, which provides mortgages services to credit unions nationwide; and Colonial Savings, a network of top-rated full service banking locations throughout North Central Texas with total deposits of more than $260 million. The company provides a full array of personal financial products and originates almost $2 billion in FHA, VA, conventional and innovative single close construction loans annually. Colonial Savings F.A. is privately held and has been awarded a Five Star rating from Bauer Financial.
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