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Secondary Marketing Program Expanded at Bank

Farmers Bank and Trust subsidiary announces third-party expansion

Aug. 13, 2013

By Mortgage Daily staff

The mortgage lending subsidiary of a bank operating from Kansas is enhancing its market presence with an expansion of its secondary market operations.

Farmers Bank and Trust was established in 1907 with just $522 in deposits and only $10,000 in capital.

As of March 31 of this year, assets had grown to $652 million and included $62 million in residential loans.

The Great Bend, Kan.-based bank moved into mortgage lending in a big way in September 2004 when it acquired CapWest Mortgage.

In addition to retail lending, CapWest provides third-party origination services that include on-site sales, operations training and marketing consulting.

CapWest President and Chief Executive Officer Monte Robbins says that both businesses have been abundantly successful.

The lender now wants to build on that success.

On Tuesday, the Overland Park, Kan.-based company announced that it is expanding its secondary market objectives to include wholesale and mini-correspondent agency programs.

With the expanded offerings, CapWest will partner with community banks and credit unions nationally to offer "no-hassle underwriting and closing services." 

In addition to providing liquidity to smaller financial institutions, the lender promises to mitigate lending risk.

"The timing is perfect to round out our portfolio and enter the wholesale and flow markets; doing so will further strengthen our financial standing as we move forward in this new, higher-rate environment," Robbins said in the announcement.

He noted that CapWest has launched a lender fulfillment program for home-equity lines of credit and fixed-rate second liens.

"We are confident that our ability to originate and deliver performing assets to banks and credit unions in need of earning assets will support a market with existing needs but few providers," Robbins added. "And with fewer overlays, competitive pricing and dedication to client service, our wholesale operation is sure to attract attention among financial institutions seeking a loyal mortgage partner."

CapWest is online at Inquiries for third-party services are being directed to [email protected].

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