|
|
|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
Directories of lenders, branch operators and mortgage service providers.
|
|
|
|
|
|
|
| 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 LendingTree.com-affiliate 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 www.CapWestMortgage.com. Inquiries for third-party services are being directed to [email protected]. |
CapWest Mortgage news
next story
back to current headlines
|
|
|
Bank news
|
Credit Union news
|
|
|
