|
COLONIAL NATIONAL MORTGAGE OPENS NEW OFFICE IN PHOENIX
FORT WORTH, TEXAS, March 1, 2002 -- 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 7310 North 16th Street in Phoenix (Tel: 602-678-7932). The office is the companys first branch in Arizona and 18th branch nationwide. Jim Burns, a $76,000,000 annual producer in residential mortgages, has joined Colonial National Mortgage from another firm to manage the office. Greg Stultz serves as assistant manager and loan officer.
Colonial National Mortgage offers more than 150 different loan products, including conventional, VA, FHA, ARMs, unique single close construction loans that are of particular benefit to custom home builders and buyers, refinancing options, loans for renovation and home equity loans with automated, onsite underwriting, processing and closing services.
Jim DuBose, president of Colonial Savings, stated the entry into the Phoenix-area residential mortgage market 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 National Mortgage 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 Loan Officer 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," said DuBose.
Mark Dennis, vice president of national retail operations for Colonial National Mortgage, said Phoenix is the ideal site for the companys expansion into Arizona. "The entire Phoenix Metropolitan area is incredibly attractive in terms of economic opportunity and quality of life, as indicated by Chamber figures that show it is the second fastest growing city in America," said Dennis. "That environment, combined with Jim Burns extensive experience in every facet of residential mortgage lending, will make for a hugely successful operation for Colonial National Mortgage."
Founded in 1952, Colonial Savings F.A. is a comprehensive financial services corporation headquartered in Fort Worth, Texas, and is one of the largest servicers of mortgage loans in the United States with a servicing portfolio of $7 billion. It is the parent company of Colonial National Mortgage, a leading residential mortgage lender; CU Members Mortgage, which provides mortgage services to credit unions nationwide; and Colonial Savings, a system of top-rated banking locations in North Central Texas. With assets of $1 billion, the company provides a full array of personal financial products and originates more than $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.
|
|
|
|
|
Online Banking
Access your bank accounts online. Check your balance. Get the latest updates.
|
My Mortgage
Access your mortgage accounts online. Check your escrow balance.
|
|
|
