Privately held firm has seen strong rise in servicing portfolio
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The champagne corks are popping at Gateway Mortgage Group which has just announced that it is serving more than 100,000 customers.
The privately held firm which offers originations, servicing, and correspondent lending across the US, has seen growth of 32% in its servicing portfolio year-over-year to more than $16.6 billion as of the end of May.
Showing strength despite industry trends, Gateway saw its originations gain 16% year-over-year to the end of May, taking its loan volume for the year to more than $2.4 billion.
The firm is licensed in 41 states and operates more than 160 retail locations across the country. During the past year, it extended its footprint to include cities such as Las Vegas and Sequim, Wash; and became licensed in Idaho, Nevada and North Dakota.
At Gateway, our commitment to the families and customers that we serve drives us to challenge ourselves,” said Kevin Stitt, CEO at Gateway. “As we continue to grow and expand, we focus on our core values and stay true to our roots—empowering the American dream of homeownership and giving back to our communities as well as those in need. We look forward to the future as we continue to partner with more customers and communities across the nation.”
The company is expected to provide mortgage services to approximately 150,000 customers this year, and its annual loan volume is forecasted to exceed $6 billion while the servicing portfolio will surpass $19 billion.
