Mortgage Daily Logo
mortgage news from industry experts

Originator Moves On from CU Sex Scandal

Originator Moves On from CU Sex Scandal

Pasha Cowan craves normal life for son

June 16, 2005



photo of Paula Parisot
Paula Parisot
Caught up in the middle of a sex scandal, loan originator and one-time escort service operator Pasha Cowan said she never imagined that just a phone call to a local police detective would have led to such misery and mayhem for her and her teenage son.

Cowan said she couldn’t believe it when Colorado University football coach Gary Barnett said on a television newscast that the University never used sex or girls to recruit players. She knew she had to step in and let the truth be known — that Colorado University representatives had frequently called her to send over girls for sex for hire.

“I was trying to help the alleged rape victims by confirming the fact that CU used sex to lure recruits,” she explained.

The university did not respond to’s requests for comments.

A former prostitute herself, Cowan admits she isn’t a saint but wanted to set the record straight. “I didn’t like the idea of them blaming the girls (for the rape scandal),” Cowan told “I was so naive though, I didn’t realize it was going to be such a national scandal.”

Cowan’s only conviction, she said, stemmed from a traffic violation in the 90’s, which led to her photograph being plastered across the country.

Initially the police department tried to keep Cowan’s identity a secret, she said, but the media had dug up an old mug shot of her “looking all Goth…with mascara running down my face” and her photo was released to the local newspapers as well as cable news stations, including ESPN.

After that, she said, “I lost my job, I was evicted and everything went to hell-in-a-hand-basket.”

“I’ve lost 80 pounds — mostly due to stress, and I’ve cut my hair to look different,” she said regarding the hostile reaction from people who recognize her. “I’ve had to move twice in the last year because of the scandal.”

“I thought if I went out of the immediate area it would be better,” she continued. “So, I got a job in Fort Collins at a mortgage company as a processor.”

But when the son-in-law of the owner walked in, he recognized Cowan and later that evening her boss called to inform her that they no longer needed her at their company.

“Because of who I am it is harder for me to originate,” Cowan explained about her present position as a loan originator. “I understand though, that it is their (the applicant’s) money and they want to trust whoever they work with, but they’ve seen slanderous stories on the news about me.”

Cowan said she was blessed the day she met Alyssa Moist, co-owner of Silver & Nash, and her landlady. “I was lease purchasing a home from Alyssa,” Cowan explained.

“She has a big heart; she offered me a job at Silver & Nash,” she added. “I’m so lucky, if I don’t make enough (in originations) she’ll let me do office work to make it up.”

Silver & Nash was founded last year, Moist said, by herself and Liza Adams and offers a full range of residential and commercial lending products, including subprime. Moist said the company has closed $30 million in the past year.

About Cowan, Moist said, “She has been great and I trust she is getting everything back in order to overcome this mess she has gone through.”

Moist added that she thought it was “horrible” what Cowan went through and would be happy to help out any woman who was caught up in a similar situation.

For the future, Cowan said she just wants some peace.

Cowan said she has already testified before the Grand Jury and is now scheduled to appear as a witness for the prosecution in August, but she hopes that the defendant, former University recruiting aide Nathan Maxcey, will plead a lesser charge to avoid a trial.

“I just want to work, not be recognized, not hide my son from reporters or schmucks,” she told “Maybe other people like Alyssa are out there and will give me a chance. Some people crave the limelight and fortune, I just want normal.”

Paula Parisot is a feature reporter and a blogger at who has also worked in the mortgage industry.

Email Paula at:

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts