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Colonial National Mortgage / stay away from this terrible company!

1 United States Review updated:

Colonial National Mortgage
217 S Stemmons Fwy
Lewisville, TX 75067

I would not recommend anyone to do business with Colonial National Mortgage/Colonial Savings. I obtained a mortgage with them in 2006 and I signed a loan application to do a fixed rate mortgage as I was led to believe this is what I was getting.

When I went to closing, I found out the loan officer, Deanna Adams, had done a bait-and-switch and switched it to an an adjustable rate mortgage. I went ahead and closed as I wanted the house very badly.

In a couple of months, my rate will turn into an adjustable rate and will probably sky-rocket. I have made repeated calls to Colonial Mortgage and even to their corporate office in Ft. Worth. Have explained to two people in upper management about what happened but they just pass me off to someone else. Now I cannot get return phone calls. One lady I spoke to named Karen Cook in their Arlington office was very rude to me - especially considering I am a current customer of their's. I would advise anyone from doing business with this company as their customer service is terrible and I am filing a complaint with the Texas Attorney General's Office and this will probably end up in court. They have several locations and are a part of Colonial Savings in Ft. Worth.


More Colonial National Mortgage Complaints & Reviews

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  • Cm
      24th of Jul, 2009
    0 Votes

    When I closed I was never offered the option of an escrow free account. Now after several increases not due to taxes or insurance, but because they want their cushion I requested that my escrow be removed and the necessary paperwork be mailed. After verifying that my loan agreement does not require an escrow account they say I must refinance to remove the escrow because I did not sign a waiver and pay a fee at closing ( neither of these options were offered at closing) . My rate is 5% I do not want to refinance I simply want control over my taxes and insurance. In addition I know of friends who have had their escrow account removed here in Texas with out refinancing. I have left a message with Thrift Supervision in Washington D.C (202-906-6000). I will file a complaint with the Attorney General of Texas as well.
    If you know of any other governing bodies please let me know. Colonial Savings Mortgage is a horrific bank of questionable ethics.

  • Un
      1st of Nov, 2010
    0 Votes

    Something is going on with this mortgage company and people need to be aware. There staff is very rude if there is a problem, but if everything is fine, they are nice. BEWARE of Colonial Savings in Fort Worth, TX.

  • Ai
      27th of Dec, 2012
    0 Votes

    This company has let my property insurance lapse even though there is plenty of money in the escrow account and the insurance company sent them a renewal notice 2 months ago. I have sent numerous emails and called them, but so far nothing has happened and I have NO property insurance. Beware of this company's underhanded practices!!!

  • Ai
      27th of Dec, 2012
    0 Votes

    BAD company!!!

  • Sp
      23rd of Oct, 2017
    0 Votes

    My advice to anyone seeking a mortgage loan... stay away from this bank at all cost. seek the services of another bank.
    I've had a mortgage with colonial since 2002. I will admit that there have been some "problems" in the past and I managed to fix them. however, since january 2014, there has not been any problems on my end, but I have recently found out that there are some issues that could have only came from the banks level. there were some unjustified negative (lies) credit bureau posting, that I had to dispute and fix. I have been charged "fees" and "fees" on top of the "fees" that I do not know where, when, by who and why they were applied to my account. I seems that colonial applies "fees" to "fees". I have not had any late or missed payments since january 2014 and now colonial is billing me for $617.00 in "fees". so, I don't have a clue where those "fees" came from. they have now divided-up the $617.00 into 12 monthly installments and added $51.40 to my monthly mortgage payments. I did not pay the $51.40 on my october payment and they added an additional $51.40 to the original $617.00, which is a
    Double entry. they have, basically, given themselves a "license to steal'. I am getting ready to file a compliant with the fdic, occ, texas state attorney general, bbb, and possibly consult with a lawyer.

  • No
      3rd of Nov, 2018
    0 Votes

    Why has no one filed a class action lawsuit? I have experienced everything written in these comments? Where is the justice for there unexplained fees upon fees and there rude and threatening acceleration of foreclosure. Why is this allowed? who do you contact to get it reviewed? Answers would be nice cause this is the worst bank I have dealt with in years. There a predatory lender and I thought there were laws against these type of banks?

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