Colonial Funding Group

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Management Team

Eddie Speed


Since 1980, W. Eddie Speed has dedicated his professional life to the seller financing and non-performing note industry. Over the years, he has introduced innovative ideas and strategies that have positively impacted the way the industry operates today.

Eddie founded NoteSchool which is a highly recognized training company specialized in the teaching of buying both performing and non-performing discounted mortgage notes. He is the owner and president of Colonial Funding Group LLC, which acquires and brokers discounted real estate secured notes. In addition, he is also a principal in a family of Private Equity funds that acquires bulk portfolios of notes.

He has been a leader and innovator in the Note Business for over 30 years. He will tell you that those 30 plus years have prepared him for the incredible opportunities of this current real estate market.

Bob Repass

Managing Director

Bob Repass is a 20-year veteran and expert in the seller finance mortgage and distressed asset industry. Over the course of his career, he has purchased over 40,000 performing and non-performing mortgage loans totaling over $2 billion dollars in volume, giving him an unparalleled track record in the industry. Mr. Repass currently serves as the President of Pathfinder Equity Holdings, LLC a mortgage consulting, loan trade advisory and real estate investment firm whose focus is to assist clients in realizing the maximum potential on their investments by improving acquisition returns, as well as loss mitigation and exit strategies. The services that Pathfinder Equity Holdings provides to its clients include Portfolio Valuation, Portfolio Management, Due Diligence Analysis, Asset Management and Disposition, Compliance, and Risk Management Review.

After a decade in banking and financial services, Mr. Repass entered the seller finance industry in 1992 as National Contract Buyer for Metropolitan Mortgage & Securities Co., based in Spokane, Washington. At the time, Metropolitan Mortgage was the largest institutional investor in the seller finance industry. In 1997, Mr. Repass joined Associates Financial Services in Dallas, Texas as Operational Vice President of its Private Mortgage Operation. During his tenure at Associates, he grew the operation to over $500 million in mortgage receivables, to overtake Metropolitan Mortgage as the industry leader.

In 2001, Mr. Repass joined Bayview Financial Services as Senior Vice President with the objective of establishing and developing Bayview’s Seller Finance Division. This initiative led to the creation of Bayview First Funding – a unit of Bayview Financial – where as Managing Director his responsibilities included business development, operations, loan servicing and strategic planning. In addition, Mr. Repass was responsible for secondary market execution, focusing on the acquisition and securitization of seller finance and “scratch and dent” mortgage loans. During his tenure at Bayview First Funding, Mr. Repass oversaw the acquisition of more than $1 billion of residential and commercial mortgage loans from banks, mortgage companies, broker/dealers, real estate developers, homebuilders and individual investors.

Mr. Repass currently serves as Managing Director of Colonial Funding Group, where he shares overall responsibility for the management of the firm. In his role as Managing Director, Mr. Repass’ primary focus includes investor relations and regulatory compliance.

Charles Mangan

Senior Vice President

Charles Mangan was raised in Waxahachie, Texas and attended the University of North Texas, majoring in Real Estate Finance. Mr. Mangan began his career in the early 1980’s at the height of the savings and loan crisis and subsequent RTC era. The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company charged with liquidating assets – primarily real estate-related assets such as mortgage loans that had been assets of S&Ls declared insolvent.

Mr. Mangan is a seasoned professional with over 30 years’ experience in the real estate finance and servicing arena. During the course of his career, Mr. Mangan has been a key player in several major corporations including Southwest Savings Association, The Associates Financial Services, and MCS, contributing to the growth and profitability of each of these organizations. During his 10-year tenure at The Associates Financial Services, Mr. Mangan managed one of the largest real estate recovery divisions in the U.S., responsible for generating over $5M recovery on a monthly basis from the sale of distressed assets.

Mr. Mangan originated and sold over $5M in seller financed loans monthly over a 5 year span as Vice President of Mortgage Operations with Casa Linda Homes, one of the largest homebuilders in the Rio Grande Valley. Charles currently serves as Senior Vice President for Colonial Funding Group, responsible for portfolio management and Capital Partner investment operations.

Susan D. DeLaGarza

Vice President

Susan has been in the mortgage industry since 1984. She started her career with Finance America as a Financial Service Representative. The firm was subsequently purchased by Chrysler First, where Susan supervised the administration and lending departments of the company’s Irving, Texas branch. She ultimately managed Chrysler’s liquidation office for the State of Texas, before accepting a transfer to Jackson, Mississippi as Branch Manager. Susan has attended numerous training/enrichment courses pertaining to credit analysis, appraisal review, collections, loan processing, and real estate law.

A Colonial team member since March, 1993, Susan manages Colonial’s loan processing and closing functions. In that role, Susan manages the hand-off of loans from marketing, the actual processing and closing of all individual and small portfolios of loans, as well as the final hand-off of loans purchased for resale.

Susan is well known within the seller-financed note industry and is widely recognized among industry professionals as one of the most knowledgeable and capable closers in the business.

Susan and Jesse, her husband of 30 years, have raised two sons and reside in DFW area.

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