October 26, 2008 4:40 PM

Colorado State Bank teams up with Castle Pines Village Realty

Colorado State Bank and Trust, which never offered risky subprime mortgages, has created an exclusive partnership with the the Castle Pines Village Realty team and its buyers.
Bank vice president and regional manager Shawn Watts calls the arrangement "intuitive and specifically in the spirit with our approach all along. The special financing is reserved for buyers purchasing homes through Castle Pines Village Realty."
The bank, for example, recently was offering 10-year, interest-only Jumbo loans at about 6 1/4 percent to qualified borrowers.
"Castle Pines Village is a benchmark for luxury living in Colorado," he added in a statement." Year in and year out, the community and homes characterize not only high-end living at its best, but represents a sound, long-term financial investment too. It's that kind of standard we want to align ourselves with. We share a quality vision."
Watts credits part of his company's foresight and good fortune to financial decisions always being made with the knowledge of purposefully creating and adding to their own portfolio.
"We're the investor," he said. "It's our money. And thanks to the way we've handled it, we're not now in the unfortunate business of catering to the appetite of Wall Street. We're driving and calling the shots."
Potential customers should still be prepared to demonstrate their full financial picture.
The bank's "unwavering insistence" is to see seeing tax returns, bank statements and profit/loss reports that's allowing them to appreciate the market-beating rates, he said.
"So far, our buyers have happily welcomed the scrutiny," said Mike Buck, Castle Pines Village Realty broker and owner. " Sure, the qualification process is more rigorous than some of the loans they've gotten in the recent past, but it's at such a benefit to their bottom line, they easily recognize the advantage they'll appreciate for years to come," said
"And frankly, both the availability of the money and the attractive loan rate is making a Castle Pines custom home purchase an option for some people who otherwise were resolved to sit out the turbulent market."
Colorado State Bank and Trust is a subsidiary of BOK Financial Corp., a regional financial services company that provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. Holdings include Bank of Albuquerque, N.A., Bank of Arizona, N.A., Bank of Arkansas, N.A., Bank of Oklahoma, N.A., Bank of Texas, N.A., Bank of Kansas City, N.A., BOSC, Inc., Southwest Trust Company, N.A, Cavanal Hill Investment Management and the TransFund electronic funds network

Posted by John Rebchook at 4:40 PM | Comments (1)