ALERT: We are NOT the Colonial Credit Corporation which is a collection agency with a similar name from a different state. We are a consultancy firm in California.

HISTORY

Colonial Credit Company began as a residential mortgage and real estate company in 2002, founded by Mario Fiermonte and Larry Lally. . 

COMPANY LEADERSHIP

Mario Fiermonte, a 35 year industry veteran and former President of Colonial Credit Corporation is in charge of the company's nationwide efforts to help brokers transition into true mortgage banking. As Principal and Founding Partner, Mr. Fiermonte has served in executive and senior management roles with major banks and lenders, having led operations for First Interstate Bancorp, Commercial Credit Corporation, and Old Kent Mortgage, among others.

Larry Lally served as Colonial Credit Corporations' CFO prior to and during our transition to Colonial Credit Company. Mr. Lally has a Masters degree with over 30 years of accounting and over 11 years of real estate experience and serves as an industry financial consutant and manager.

In 2011, Mr. Fiermonte entered into a strategic partnership with one of Colonial Credit's first clients,  Rescom Financial Services, now a mortgage banker with offices in Mission Viejo and Newport Beach. The companies are separate entities. Colonial Credit Corporation is now Colonial Credit Company.

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IMPORTANT CHANGES

In 2011, changes to federal lending licensing rules under NMLS (National Mortgage Licensing System) required companies and staff to have an NMLS designation in order to originate mortgage loans. Colonial Credit Company provides consultancy services to companies and individuals. Since 2011, services provided that require a real estate license, including origination of loans are provided through Rescom Financial Services in Newport Beach.