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Colonial Savings Receives Freddie Mac Tier One Award and Hall of Fame Status for Superior Performance in Mortgage Servicing
FORT WORTH, TEXAS, May 27, 2004 -- Freddie Mac, a stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds to mortgage lenders, has awarded Colonial Savings its Tier One Rating for quality mortgage servicing in 2003. Additionally, Colonial Savings was named to the Freddie Mac Hall of Fame. It is the fourth consecutive year that Colonial Savings has received the Tier One designation, one of just 27 companies in the nation to qualify. Colonial is one of only 9 mortgage servicers nationally to qualify for Hall of Fame status. Tier One Mortgage Servicers consistently demonstrate superior performance in the areas of investor reporting and default management to help homeowners avoid foreclosure.
Jim DuBose, President of Colonial Savings, attributes the award to the dedication of the companys 94-member Servicing Department, led by Cary Adams, Senior Vice President. The employees in our Servicing Department are long-tenured, highly experienced and conscientious in their efforts to help homeowners avoid foreclosure.
About Colonial Savings
Founded in 1952, Colonial Savings F.A. is a national, multi-service financial institution headquartered in Fort Worth, Texas, and is one of largest servicers of mortgage loans in the United States, with a servicing portfolio exceeding $8 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 network of top-rated, banks located throughout North Central Texas. It is also affiliated with Colonial Life Insurance Company of Texas and DuBose & Associates Insurance. The privately held company provides a full array of personal financial products and originates more than $4 billion in FHA, VA, conventional and innovative single close construction loans annually.
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