TULSA, OK – Gateway Mortgage Group, a privately held mortgage company providing conventional, FHA and VA loans through 50 retail branches nationwide, announced that the company saw record growth in 2011 with a nearly 34 percent increase in volume over 2010.
Gateway originated more than $672 million in mortgage loan volume in 2011 and experienced its best month in the company’s history in December with $78.2 million in originations. September and October closely followed as the second and third highest volume months ever. In addition, Gateway opened 23 new branches across the country and made its first expansion into New Mexico. Through the branch expansion Gateway added 94 loan officers, as well as a number of additions to its loss mitigation staff.
“The Gateway team successfully made 2011 a year of expansion despite harsh market conditions,” said Kevin Stitt, president of Gateway. “By bringing on the best and brightest talent through retail branch expansion, we truly defied the odds as a lender.”
In addition to its origination business, Gateway’s servicing portfolio surpassed $1.3 billion in 2011. The company also laid the groundwork for its specialty subservicing unit. The operation, launched in January 2012, provides small servicers and community institutions with high-touch expertise in specialty and default servicing for FHA and VA loans.
“Gateway strives to deliver the personal attention associated with a small community lender while offering the products and services typically provided by larger organizations,” said Stitt. “As such, we expect to see more growth in 2012 as we bring on new branches and use our expertise to build service offerings for fellow lenders, such as FHA and VA subservicing.”
About Gateway Mortgage Group
Founded in 2000, Tulsa, Okla.-based Gateway Mortgage Group is a complete end-to-end mortgage banking firm that offers conventional, FHA, VA, Section 184 and USDA loans through a network of more than 50 retail branches across 25 states. Through Gateway’s personal approach and strong dedication to its borrowers and local communities, the company helps customers make sound financial decisions with the right loan product to meet their needs. For more information about Gateway, visit www.GatewayLoan.com.