Moving to strengthen its fixed-rate mortgage business, Great Western Financial Corp. announced Tuesday that it had hired Lawrence A. Spera, currently of Knutson Mortgage Corp., to run a new secondary-market conduit.

In a prepared statement, the Chatsworth, Calif.-based thrift said the new conduit would focus on jumbo fixed-rate loans originated by the thrift and other lenders.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.