Jenks, Oklahoma-based Gateway Mortgage, a division of Gateway First Bank, announced that it has opened a new mortgage center in West Texas to meet increased demand from local communities for home financing. The new mortgage center in Odessa will serve all the surrounding areas and suburbs. Gateway has more than 50 locations in Texas and more than 165 mortgage centers across the U.S.
Odessa is a fast-growing city, making it an attractive place for new homeowners to call home. Both homebuyers and current homeowners are taking advantage of lower interest rates, making the Odessa housing market prosperous.
Gateway reported funding more than $1 billion a month in residential mortgage loans during six different months of 2020. In October 2020, it set an all-time record for monthly volume by funding more than $1.1 billion in loans in one month. Overall, Gateway funded more than $11.3 billion in mortgage loans in 2020, surpassing the previous record year of $7.7 billion funded loans in 2019.
Gateway First Bank is a $1.9 billion asset-sized bank with a strong mortgage operation. The company has six bank branches in Oklahoma and more than 165 mortgage centers in 43 states.