Is Colonial Savings A good mortgage company?
Colonial Savings, F.A. has been named to the list of Top 25 Mortgage Lenders and Servicers in the Mortgage Industry by MReport, a leading source of breaking news and up-to-date information for the housing and mortgage industry. Colonial was recognized as a top place to work in the Lenders/Servicers category.
What happened Colonial Bank?
The Alabama State Banking Department declared Colonial Bank insolvent, seized it, and appointed the FDIC to become the failed bank’s receiver. The FDIC sold Colonial Bank to BB.
Is Colonial a bank?
In 1994, Colonial Mutual acquired the State Bank of New South Wales, and the merged entity was subsequently rebranded as Colonial First State. CFS demutualised in 1997 and in 2000, it was acquired by the Commonwealth Bank.
How do you tell if I should refinance my mortgage?
So when does it make sense to refinance? The typical should-I-refinance-my-mortgage rule of thumb is that if you can reduce your current interest rate by 1% or more, it might make sense because of the money you’ll save. Refinancing to a lower interest rate also allows you to build equity in your home more quickly.
What is a mortgage recast?
A mortgage recast is when a lender recalculates the monthly payments on your current loan based on the outstanding balance and remaining term. When you purchase a home, your lender calculates your mortgage payments based on the principal balance and the loan term. Every time you make a payment, your balance goes down.
Who acquired Colonial Bank?
BB Corporation
WINSTON-SALEM, N.C., Aug. 14 /PRNewswire-FirstCall/ — BB Corporation (NYSE: BBT) late this afternoon said it has acquired the banking operations of Colonial Bank of Montgomery, Ala. BB has acquired $22 billion in assets and assumed $20 billion in deposits in the transaction.
Who did Colonial Bank merge with?
BB
Colonial’s 346 branches in Alabama, Florida, Georgia, Nevada and Texas will reopen as branches of BB, the FDIC said. Depositors of Colonial will automatically become depositors of BB.
Who owns MLC?
IOOF
Nippon Life
MLC Limited/Parent organizations
Who is Colonial First State Owned by?
Commonwealth Bank of
About Colonial First State CFS is majority owned by an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (CBA) holding a significant minority interest.
How long should you stay in your house after refinancing?
How long after refinancing can you sell your house? You can sell your house right after refinancing — unless you have an owner-occupancy clause in your new mortgage contract. An owner-occupancy clause can require you to live in your house for 6-12 months before you sell it or rent it out.
Is mortgage recast a good idea?
If you have money saved up or receive a cash gift or inheritance, recasting your mortgage is an excellent way to invest in your home equity while keeping more of your income each month. Want lower monthly payments. By recasting your mortgage, you’ll reduce your loan principal and reduce your monthly payment amount.
What kind of loans does coloncolonial offer?
Colonial has been helping customers realize their dream of home ownership by offering a full suite of home loan products, including Conventional, Adjustable Rate, FHA, VA, USDA, Condo, Low-Down Payment, Single-Close Construction, Jumbo and more.
Why choose colcolonial for business banking?
Colonial has eight banking center locations in the Dallas-Fort Worth Metroplex, all offering a full suite of banking solutions designed specifically for your life and financial goals. We also know owning your own business is no small task. That’s why we offer business banking services with your ultimate success in mind.
Who is colcolonial?
Colonial is a national provider of banking, home loans and insurance. Founded in 1952, the company has $1 Billion in assets and is privately held by choice to ensure our focus remains on our customers and not the expectations of Wall Street.
Why choose interestcolonial?
Colonial has been providing banking, home loan and insurance solutions since 1952. Colonial has been helping customers realize their dream of home ownership by offering a full suite of home loan products, including Conventional, Adjustable Rate, FHA, VA, USDA, Condo, Low-Down Payment, Single-Close Construction, Jumbo and more.