JENKS, Okla., Oct. 30, 2018 – Gateway Mortgage Group, a full-service mortgage company founded by Kevin Stitt, announced it has experienced record growth in the third quarter of 2018. The company funded a total of $1.768 billion in mortgage loans this quarter, compared to $1.536 billion in loan volume during the same period in 2017, a 15.1 percent increase year-over-year. The company attributes its growth to a committed focus on product development and key platforms that enhance the customer experience.
Since the beginning of 2018, Gateway has funded $4.250 billion in mortgage loan volume, surpassing the $4.195 billion from the same period last year. Furthermore, the company’s servicing portfolio has grown from $17.1 billion at the end of 2Q 2018 to $18.3 billion and now services a total of 106,672 individual mortgage loans. Gateway opened 12 new offices in eight states in the third quarter, for a total of 35 new offices this year. Additionally, the company added 161 new jobs in the third quarter, 309 for the year bringing its total number of employees to 1,225.
Gateway’s performance relative to its competitors highlights its continued rise in gaining market share. The company is in the top tier of mortgage origination and servicing providers, while its delinquencies, defects, and repurchases are among the lowest in the nation.
“The momentum we have achieved over the past year is due to the depth of talent in our team, their relationships in local markets, and our commitment to the families and customers we serve,” said Stephen Curry, CEO at Gateway. “While we expect 2018 will be another record year, our sights are keenly focused on a successful 2019 and beyond. The digital era is transforming the mortgage landscape, and Gateway is fully embracing this and intends to be an industry leader.”
Today, Gateway is licensed in 40 states and the District of Columbia and operates more than 170 Mortgage Centers across the country. The company’s annual loan volume is expected to exceed $6 billion in 2018, and its loan servicing portfolio is set to eclipse $20 billion.
About Gateway First Bank
Gateway First Bank is a leading financial institution that provides banking and mortgage services for consumers and commercial customers. Headquartered in Jenks, Oklahoma, Gateway is a $1.9 billion asset sized bank with a strong mortgage operation. Gateway is one of the largest banking and mortgage operations in the United States with six bank branches in Oklahoma, over 160 mortgage centers in 42 states, and almost 1,600 employees. Learn more at www.GatewayFirst.com. Member FDIC, Equal Housing Lender (NMLS 7233)
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