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Goodbye, Fort Worth Mortgage. Hello, Colonial National Mortgage.
FORT WORTH, TEXAS, November 12, 2001 -- Fort Worth Star Telegram
Goodbye, Fort Worth Mortgage. Hello, Colonial National Mortgage.
The Fort Worth Mortgage name has been around for nearly 50 years, ever since Fort Worth finance whiz Jimmy DuBose founded it in 1952. In 1972, DuBose acquired Colonial Savings, based in Lewisville, and moved it to Fort Worth. Now the mortgage business will adopt the Colonial name, too.
Why do we call DuBose a finance whiz? How many Texas S&Ls can you name that survived the 1980s, kept their original ownership and now have assets nearing $1 billion?
Well, there.
The mortgage operation, which is the largest local home lender, has expanded to all 50 states. Half its business now comes from outside Texas, DuBose says, and it added five new offices in the years third quarter, giving it 17 locations.
It also provides mortgage services that credit unions can offer under their own names.
Colonial Savings services many of the loans originated by its mortgage operation and now handles more than $7 billion worth of loans.
"Our name change is reflective of the national position that we have obtained and more closely ties the mortgage division to our banks and insurance companies," DuBose says.
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