As the local Branch Manager of the Gateway Mortgage Group office in Ada, and as a long-time, personal friend of Kevin Stitt, I would like to respond to the negative political ads attacking this Oklahoma-based company that has done so much for so many people.
I have been managing the Ada Gateway Mortgage Group branch since May 2015. Additionally, I have been in the mortgage business for the last 18 consecutive years.
During the mortgage crisis of 2008-2009, Gateway had a few employees outside of our state originate home loans that they should not have done. Kevin Stitt, Gateway’s founder and then CEO, terminated those employees and paid the fines as soon as the personnel issues were discovered.
During those hard times in the industry when other companies were closing their doors, Kevin Stitt made the right strategic moves, hired the right people, and obtained approvals from Fannie Mae, Freddie Mac, and Ginnie Mae. These moves changed our branch structure from a “broker shop” to a corporate branch model which provided more control, accountability and management of all Gateway Mortgage Group’s loan officers across the country.
Since that time, Gateway has been approved to do business in 24 additional states and now operates in 41 states and Washington, D.C. Gateway can do business in the remaining 9 states when it finds the right employees to open branches in those states. In addition, Gateway stands as one of the nation’s largest privately held mortgage companies and has a delinquency rate of less than half of the national average.
Today, Gateway provides more than 3,000 new home loans every month and services over 100,000 homeowners (all out of Jenks). This year, Gateway Mortgage Group will originate over $6 billion in new loans, our servicing portfolio will exceed $20 billion, and our national team will exceed 1200 people.
I can personally attest that the culture of Gateway Mortgage as established by Kevin Stitt is the best I have ever been a part of. Gateway has high moral and ethical standards, and I could not be more proud to be employed with this great company. I know other Gateway employees feel the same way, which is why The Daily Oklahoman awarded Gateway Mortgage Group as one of the Top Ten mid-size companies for which to work in Oklahoma in 2016.
My customers (Oklahoma families) deserve more than slanderous, negative political ads. Trust is built through relationships, and these families trust Gateway to back the truth.
Michael McElroy, Branch Manager
Gateway Mortgage Group of Ada