Gateway commits $275 million for Oklahoma communities
Gateway Mortgage Group, LLC, a privately held mortgage company offering originations, servicing, and correspondent lending, today announced its “Gateway Gives Back” program, a pledge to reinvest $275 million in communities throughout the state of Oklahoma.
The initiative spans the next five years (2018-2022) and will focus its resources towards minority communities, low- to moderate-income (LMI) communities and non-profit organizations that support community development. The company’s financial commitment under the plan directs $272.5 million for residential mortgages within defined communities that meet the established criteria, and $2.5 million in donations to non-profit organizations that support community development issues including education, criminal justice, adoption and foster care, veterans support, drug rehabilitation, disaster relief, and fair and equal housing.
“At Gateway, our passion to strengthen families goes hand-in-hand with the underlying responsibility to make our community better for all Oklahomans,” said Hobie Higgins, senior vice president at Gateway Mortgage Group. “With the company growing and thriving, the Gateway Gives Back program creates a stronger channel to focus our entire organization’s giving in communities across Oklahoma.”
The “Gateway Gives Back” program complements Gateway’s holistic approach to giving and community reinvestment. The company provides specialty mortgage products that are tailored for low- to moderate-income communities, in addition to the countless hours Gateway contributes to empower Gateway team members to participate on nonprofit boards, volunteer activities and disaster relief efforts. Last year, Gateway donated over $500,000 to local charities like the Oklahoma Housing Foundation, Reading Partners, Aim High and many others nationally. In 2017, Gateway established an annual commitment with Oklahoma-based Folds of Honor, which was recently renewed and is projected to exceed $200,000 in donations that provide educational support to family members of wounded and fallen military members.
“In 2018, we are projecting Gateway will provide more than $6 billion in financing for new mortgages nationwide,” said Kevin Stitt, Gateway’s Founder and Chief Executive Officer. “Gateway was established in Oklahoma, and we are committed to bringing our nationwide success back home through the Gateway Gives Back program. We look forward to expanding opportunities for homeownership to more Oklahomans, as well as deploying our $2.5 million pledge to organizations that are making a positive difference in our state.”