Online mortgage company CapWest Mortgage, a division of Farmers Bank & Trust in Great Bend, Kan., announced this week that it is now offering credit unions and community banks expanded secondary market operations including wholesale and mini-correspondent programs, in addition to its existing third-party origination platform.

Founded in 2002 in Overland Park, Kan., CapWest is a direct seller and servicer for Fannie Mae and Freddie Mac, and a member of the Federal Home Loan Bank.

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

“The success of both our retail and third-party origination operations has been abundant,” said Monte Robbins, president/CEO of CapWest. “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 CapWest expanded into servicing loans about a year ago, and views the wholesale services as a way to further diversify operations and capitalize on the company's in-house expertise and experience.

Through its new wholesale program, CapWest will partner with community banks and credit unions across the country, offering no-hassle underwriting and closing services and mitigating overall lending risk. Its mini-correspondent program will allow CapWest to infuse instant liquidity into banks and credit unions for an outlet for delivery of agency-quality closed loans.

“In addition to the TPO options, we have begun a lender fulfillment program with HELOC and fixed-rate, second lien programs. 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.

CapWest Mortgage continues to offer third-party origination services, which include onsite sales and operations training in addition to marketing consulting.