TULSA, OK – Gateway Mortgage Group, a privately held mortgage company providing conventional, FHA and VA loans through more than 50 retail branches nationwide, announced that the company broke its previous loan origination records in March by closing more than $81 million in home loans.
Overall, Gateway’s 2012 first quarter volumes nearly doubled those of its 2011 Q1 levels with the company originating more than $211 million in the first part of this year. In addition to the increased volume, Gateway servicing surpassed the 10,000th loan mark in March. The lender also grew its retail branch network with the addition of three new locations and brought on 30 new loan officers.
Gateway expanded its service offerings during the first quarter by launching a specialty subservicing division to provide small servicers and community institutions with high-touch expertise in specialty and default servicing for FHA, VA and traditional loans, as well as opened a correspondent lending unit. Both new business units saw success soon after they were launched and the company has since signed its first subservicing client and the correspondent lending unit began accepting locks from clients in March.
“This is a promising time for Gateway as we grow in many different areas,” said Kevin Stitt, president of Gateway. “Having a diverse business is what helps companies remain prosperous in this fluctuating market we are experiencing. We are lucky to have an experienced staff that enables us to branch out into new ventures, such as subservicing and correspondent lending, and will continue to use our position as a strong community lender to provide solutions for borrowers and fellow lenders.”
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. The company services more than $1.5 billion in residential mortgages and in addition to its default servicing group, Gateway operates a correspondent lending channel. Through Gateway’s 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.