The ad mentioned the company's default rate and regulatory actions in 2009
Gateway Mortgage Group has found itself the subject of political attack ads as its former CEO and current Chairman Kevin Stitt continues to seek Oklahoma’s governor post, according to a NewsOK report.
“If Kevin Stitt couldn't be trusted to run a business in three other states, how can Oklahomans trust him to run ours now?” the ad stated.
The ad pointed to a 2010 magazine article on Gateway Mortgage’s relatively high default rate as well as regulatory actions brought against the company in Arkansas, Illinois, and Georgia in 2009.
The television ad was financed by a group that backed Republican Mick Cornett, Stitt’s GOP rival, according to the report.
Founding the company in 2000, Stitt had been CEO until August. Stephen Curry was named the company’s new CEO, with Stitt taking the role of chairman.
In response to the ad, Stitt said at a news conference that the Gateway was "a hugely successful company." Still also said that the regulatory issues mentioned in the ad related to “minor infraction” and that the company has a low default rate.
"I'm proud of our company," he said. "We have nothing to apologize about.
"It's just when somebody gets down, I guess this is what the politicians do. They know they can't win on their regular record. ... I just ask for Mick Cornett to run a clean campaign."
