TULSA, OK – Gateway Mortgage Group, a privately held mortgage company offering originations, servicing and correspondent lending, announced the company experienced a 104 percent increase in production over the previous year in the first seven months of 2012 and achieved the company’s highest production levels in company history for seven consecutive months.
Gateway experienced its best month on record in July with loan volumes reaching more than $141 million. The company has achieved several other noteworthy milestones since early 2012 including funding more than $661 million in loan originations. Additionally, the company’s servicing portfolio grew to more than $1.8 billion and 12,000 loans while significantly expanding its specialty servicing unit that launched in November 2011.
The lender expanded its retail branching footprint by opening eight new branches and bringing on more than 133 loan officers for branch production and support. The company also introduced new business focuses in the first half of 2012 including correspondent lending and alternative sales such as joint ventures and marketing service agreements. Gateway has been able to accommodate such growth by solidifying the corporate infrastructure with the addition of a chief credit and compliance officer, marketing director and vice president and director of Alternative Sales Channels.
“We are consistently beating our own records and challenging ourselves to provide the best experience for borrowers and the Gateway team,” said Kevin Stitt, president of Gateway. “Gateway’s continued growth, expansion and success begins at the corporate level and extends to every one of our retail branches – an achievement we are extremely grateful for. We aim to exceed previous expectations and finish the year more successful than the last.”
About Gateway Mortgage Group
Founded in 2000, Tulsa, Okla.-based Gateway Mortgage Group LLC is a complete end-to-end mortgage banking firm that specializes in originations, servicing and correspondent lending. The company services more than $1.8 billion in residential mortgages through its in-house servicing, subservicing and default servicing channels. For more information about Gateway, visit www.GatewayLoan.com.