Online mortgage company CapWest Mortgage, a division of FarmersBank & Trust in Great Bend, Kan., announced this week that itis now offering credit unions and community banks expandedsecondary market operations including wholesale andmini-correspondent programs, in addition to its existingthird-party origination platform.

Founded in 2002 in Overland Park, Kan., CapWest is a directseller and servicer for Fannie Mae and Freddie Mac, and a member ofthe Federal Home Loan Bank.

CapWest's 114 employees originated $1.4 billion in mortgageslast year, with almost all sold into the secondarymarket,the company said.

“The success of both our retail and third-party originationoperations has been abundant,” said Monte Robbins, president/CEO ofCapWest. “The timing is perfect to round out our portfolio andenter the wholesale and flow markets; doing so will furtherstrengthen our financial standing as we move forward in this new,higher-rate environment.”

Robbins said CapWest expanded into servicing loans about a yearago, and views the wholesale services as a way to further diversifyoperations and capitalize on the company's in-house expertise andexperience.

Through its new wholesale program, CapWest will partner withcommunity banks and credit unions across the country, offeringno-hassle underwriting and closing services and mitigating overalllending risk. Its mini-correspondent program will allow CapWest toinfuse instant liquidity into banks and credit unions for an outletfor delivery of agency-quality closed loans.

“In addition to the TPO options, we have begun a lenderfulfillment program with HELOC and fixed-rate, second lien programs. We are confidentthat our ability to originate and deliver performing assets tobanks and credit unions in need of earning assets will support amarket with existing needs but few providers,” Robbins added.

CapWest Mortgage continues to offer third-party originationservices, which include onsite sales and operations training inaddition to marketing consulting.