Gateway Mortgage Group

JENKS, OK 74037

LEI: 54930034MNPILHP25H80

Tax ID: 73-1577221

2019 Data | 2018 Data

Overview

Gateway Mortgage Group is a small mortgage company specializing in Home Purchase loans. Gateway Mortgage Group has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Houston, Dallas, Fort Worth, San Antonio, and Oklahoma City among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Gateway Mortgage Group is typically a low fee medium-low fee lendor.

Originations

24,143

Origination Dollar Volume (All Markets)

$4,738,985,000

Product Mix

Loan Type	Originations	Total Value	Average Loan
Conventional	15,397	$2,963,515,000	$192,474
FHA	5,622	$1,054,970,000	$187,650
VA	2,458	$624,460,000	$254,052
USDA	666	$96,040,000	$144,204

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason	Originations	Total Value	Average Loan
Home Purchase	18,010	$3,366,610,000	$186,930
Other	10	$120,000	$12,000
Refi	3,315	$810,765,000	$244,575
Cash Out Refi	2,808	$561,490,000	$199,961

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market	Originations	Total Value	Average Loan
Outside of Metro Areas	3,265	$568,285,000	$174,054
HOUSTON-THE WOODLANDS-SUGAR LAND, TX	2,488	$451,470,000	$181,459
DALLAS-PLANO-IRVING, TX	1,373	$302,305,000	$220,178
FORT WORTH-ARLINGTON-GRAPEVINE, TX	1,268	$247,840,000	$195,457
SAN ANTONIO-NEW BRAUNFELS, TX	1,044	$196,070,000	$187,807
OKLAHOMA CITY, OK	975	$193,085,000	$198,036
TULSA, OK	830	$167,530,000	$201,843
NEW BRUNSWICK-LAKEWOOD, NJ	445	$122,155,000	$274,506
KNOXVILLE, TN	630	$114,920,000	$182,413
SEATTLE-BELLEVUE-KENT, WA	277	$114,425,000	$413,087
PORTLAND-VANCOUVER-HILLSBORO, OR-WA	361	$108,135,000	$299,543
CAMDEN, NJ	655	$100,105,000	$152,832
OMAHA-COUNCIL BLUFFS, NE-IA	425	$96,075,000	$226,059
HILTON HEAD ISLAND-BLUFFTON, SC	359	$91,765,000	$255,613
FAYETTEVILLE-SPRINGDALE-ROGERS, AR	487	$89,045,000	$182,844
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC	461	$81,055,000	$175,824
WICHITA, KS	462	$77,370,000	$167,468
AUSTIN-ROUND ROCK-GEORGETOWN, TX	300	$73,360,000	$244,533
SANTA FE, NM	230	$64,590,000	$280,826
RAPID CITY, SD	280	$58,460,000	$208,786
SALT LAKE CITY, UT	189	$51,805,000	$274,101
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR	237	$47,395,000	$199,979
SAN ANGELO, TX	283	$42,935,000	$151,714
BOISE CITY, ID	176	$41,460,000	$235,568
BATON ROUGE, LA	322	$39,950,000	$124,068
NEWARK, NJ-PA	136	$39,880,000	$293,235
JACKSONVILLE, FL	202	$38,900,000	$192,574
PHOENIX-MESA-CHANDLER, AZ	187	$37,895,000	$202,647
KILLEEN-TEMPLE, TX	205	$31,905,000	$155,634
PROVO-OREM, UT	120	$30,990,000	$258,250
DENVER-AURORA-LAKEWOOD, CO	98	$29,240,000	$298,367
SUMTER, SC	200	$27,560,000	$137,800
MIDLAND, TX	114	$26,390,000	$231,491
CHARLESTON, WV	158	$24,810,000	$157,025
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI	136	$24,570,000	$180,662
SPRINGFIELD, MO	136	$23,470,000	$172,574
ABILENE, TX	128	$23,210,000	$181,328
TYLER, TX	161	$21,895,000	$135,994
ATLANTIC CITY-HAMMONTON, NJ	117	$20,955,000	$179,103
VINELAND-BRIDGETON, NJ	147	$20,935,000	$142,415
PHILADELPHIA, PA	113	$20,385,000	$180,398
GRAND ISLAND, NE	142	$20,100,000	$141,549
INDIANAPOLIS-CARMEL-ANDERSON, IN	107	$18,885,000	$176,495
ORLANDO-KISSIMMEE-SANFORD, FL	77	$18,765,000	$243,701
LAWTON, OK	112	$18,520,000	$165,357
RENO, NV	61	$17,955,000	$294,344
FORT SMITH, AR-OK	126	$17,510,000	$138,968
GREELEY, CO	61	$17,495,000	$286,803
BEAUMONT-PORT ARTHUR, TX	79	$16,495,000	$208,797
IDAHO FALLS, ID	90	$15,940,000	$177,111
ALBUQUERQUE, NM	78	$15,920,000	$204,103
CHARLOTTE-CONCORD-GASTONIA, NC-SC	71	$15,465,000	$217,817
JOPLIN, MO	93	$15,285,000	$164,355
ENID, OK	111	$15,195,000	$136,892
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN	60	$15,070,000	$251,167
TACOMA-LAKEWOOD, WA	44	$14,800,000	$336,364
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA	54	$13,300,000	$246,296
READING, PA	70	$13,230,000	$189,000
NEW ORLEANS-METAIRIE, LA	78	$13,220,000	$169,487
ODESSA, TX	60	$12,550,000	$209,167
FORT COLLINS, CO	46	$12,440,000	$270,435
LINCOLN, NE	48	$12,400,000	$258,333
WACO, TX	67	$11,525,000	$172,015
COLUMBUS, OH	60	$11,180,000	$186,333
LAS CRUCES, NM	69	$11,085,000	$160,652
LONGVIEW, WA	52	$10,710,000	$205,962
BALTIMORE-COLUMBIA-TOWSON, MD	50	$10,650,000	$213,000
NORTH PORT-SARASOTA-BRADENTON, FL	48	$10,620,000	$221,250
HAMMOND, LA	65	$10,565,000	$162,538
PORT ST. LUCIE, FL	60	$10,520,000	$175,333
CINCINNATI, OH-KY-IN	64	$9,870,000	$154,219
MOUNT VERNON-ANACORTES, WA	43	$9,805,000	$228,023
LONGVIEW, TX	63	$9,435,000	$149,762
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ	28	$9,310,000	$332,500
KANSAS CITY, MO-KS	49	$8,555,000	$174,592
EL PASO, TX	47	$8,375,000	$178,191
WILMINGTON, DE-MD-NJ	47	$8,365,000	$177,979
TRENTON-PRINCETON, NJ	49	$8,335,000	$170,102
HUNTINGTON-ASHLAND, WV-KY-OH	43	$8,165,000	$189,884
MANSFIELD, OH	59	$7,545,000	$127,881
LAREDO, TX	58	$7,540,000	$130,000
TEXARKANA, TX-AR	55	$7,035,000	$127,909
PITTSBURGH, PA	45	$6,525,000	$145,000
BEND, OR	20	$6,200,000	$310,000
MORRISTOWN, TN	33	$6,185,000	$187,424
CHICAGO-NAPERVILLE-EVANSTON, IL	25	$5,985,000	$239,400
LAKELAND-WINTER HAVEN, FL	26	$5,830,000	$224,231
BREMERTON-SILVERDALE-PORT ORCHARD, WA	17	$5,825,000	$342,647
CORPUS CHRISTI, TX	35	$5,745,000	$164,143
WILMINGTON, NC	27	$5,635,000	$208,704
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV	15	$5,575,000	$371,667
MCALLEN-EDINBURG-MISSION, TX	38	$5,510,000	$145,000
OGDEN-CLEARFIELD, UT	25	$5,465,000	$218,600
SHERMAN-DENISON, TX	33	$5,435,000	$164,697
LUBBOCK, TX	34	$5,010,000	$147,353
LAS VEGAS-HENDERSON-PARADISE, NV	15	$4,855,000	$323,667
SHREVEPORT-BOSSIER CITY, LA	25	$4,695,000	$187,800
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ	20	$4,590,000	$229,500
DAYTON-KETTERING, OH	26	$4,580,000	$176,154
MEMPHIS, TN-MS-AR	41	$4,355,000	$106,220
YUMA, AZ	27	$4,235,000	$156,852
MONROE, LA	19	$4,015,000	$211,316
COLORADO SPRINGS, CO	13	$3,935,000	$302,692
BOULDER, CO	12	$3,540,000	$295,000
ST. LOUIS, MO-IL	29	$3,505,000	$120,862
SPOKANE-SPOKANE VALLEY, WA	15	$3,385,000	$225,667
TAMPA-ST. PETERSBURG-CLEARWATER, FL	17	$3,265,000	$192,059
NAPLES-MARCO ISLAND, FL	12	$3,210,000	$267,500
MADISON, WI	16	$3,150,000	$196,875
JACKSONVILLE, NC	17	$2,875,000	$169,118
COLLEGE STATION-BRYAN, TX	18	$2,740,000	$152,222
OCEAN CITY, NJ	9	$2,545,000	$282,778
BROWNSVILLE-HARLINGEN, TX	20	$2,540,000	$127,000
DES MOINES-WEST DES MOINES, IA	9	$2,535,000	$281,667
MILWAUKEE-WAUKESHA, WI	13	$2,535,000	$195,000
CHARLESTON-NORTH CHARLESTON, SC	10	$2,520,000	$252,000
AMARILLO, TX	16	$2,220,000	$138,750
LANCASTER, PA	8	$2,200,000	$275,000
ELGIN, IL	9	$2,125,000	$236,111
BELLINGHAM, WA	9	$1,995,000	$221,667
CLEVELAND, TN	10	$1,890,000	$189,000
HUNTSVILLE, AL	10	$1,700,000	$170,000
LAWRENCE, KS	7	$1,635,000	$233,571
ST. GEORGE, UT	7	$1,625,000	$232,143
TUCSON, AZ	8	$1,610,000	$201,250
FREDERICK-GAITHERSBURG-ROCKVILLE, MD	4	$1,610,000	$402,500
PALM BAY-MELBOURNE-TITUSVILLE, FL	6	$1,510,000	$251,667
OLYMPIA-LACEY-TUMWATER, WA	5	$1,495,000	$299,000
GREENVILLE-ANDERSON, SC	7	$1,475,000	$210,714
RALEIGH-CARY, NC	5	$1,475,000	$295,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC	6	$1,440,000	$240,000
DOVER, DE	6	$1,430,000	$238,333
FAYETTEVILLE, NC	9	$1,325,000	$147,222
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL	7	$1,315,000	$187,857
LAKE HAVASU CITY-KINGMAN, AZ	5	$1,285,000	$257,000
BIRMINGHAM-HOOVER, AL	11	$1,275,000	$115,909
TWIN FALLS, ID	8	$1,250,000	$156,250
COLUMBIA, SC	10	$1,220,000	$122,000
VICTORIA, TX	8	$1,200,000	$150,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL	5	$1,195,000	$239,000
WICHITA FALLS, TX	13	$1,155,000	$88,846
JOHNSON CITY, TN	7	$1,145,000	$163,571
CAPE CORAL-FORT MYERS, FL	5	$1,145,000	$229,000
DECATUR, AL	8	$1,140,000	$142,500
CHEYENNE, WY	4	$1,080,000	$270,000
CHATTANOOGA, TN-GA	7	$1,035,000	$147,857
LAFAYETTE, LA	8	$1,030,000	$128,750
CLEVELAND-ELYRIA, OH	8	$980,000	$122,500
YAKIMA, WA	5	$955,000	$191,000
SIOUX FALLS, SD	3	$945,000	$315,000
SIOUX CITY, IA-NE-SD	6	$910,000	$151,667
TOPEKA, KS	6	$900,000	$150,000
HOT SPRINGS, AR	5	$875,000	$175,000
DURHAM-CHAPEL HILL, NC	3	$835,000	$278,333
LAKE COUNTY-KENOSHA COUNTY, IL-WI	4	$830,000	$207,500
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL	3	$805,000	$268,333
LEBANON, PA	4	$790,000	$197,500
MANHATTAN, KS	4	$780,000	$195,000
FARMINGTON, NM	5	$775,000	$155,000
ASHEVILLE, NC	3	$735,000	$245,000
POCATELLO, ID	3	$735,000	$245,000
TUSCALOOSA, AL	4	$720,000	$180,000
SCRANTON--WILKES-BARRE, PA	7	$675,000	$96,429
EAST STROUDSBURG, PA	5	$645,000	$129,000
APPLETON, WI	3	$635,000	$211,667
COEUR D'ALENE, ID	2	$610,000	$305,000
EUGENE-SPRINGFIELD, OR	2	$610,000	$305,000
YORK-HANOVER, PA	3	$605,000	$201,667
BRIDGEPORT-STAMFORD-NORWALK, CT	1	$605,000	$605,000
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA	2	$580,000	$290,000
LOS ANGELES-LONG BEACH-GLENDALE, CA	1	$555,000	$555,000
GREENSBORO-HIGH POINT, NC	3	$545,000	$181,667
CARSON CITY, NV	2	$540,000	$270,000
CLARKSVILLE, TN-KY	3	$535,000	$178,333
PENSACOLA-FERRY PASS-BRENT, FL	2	$520,000	$260,000
WINCHESTER, VA-WV	2	$520,000	$260,000
RACINE, WI	2	$510,000	$255,000
BLOOMINGTON, IN	3	$495,000	$165,000
BOWLING GREEN, KY	1	$485,000	$485,000
KINGSPORT-BRISTOL, TN-VA	3	$475,000	$158,333
MODESTO, CA	4	$470,000	$117,500
DULUTH, MN-WI	2	$460,000	$230,000
MOBILE, AL	6	$460,000	$76,667
NEW BERN, NC	2	$460,000	$230,000
FLAGSTAFF, AZ	2	$430,000	$215,000
DAPHNE-FAIRHOPE-FOLEY, AL	2	$430,000	$215,000
GRAND JUNCTION, CO	2	$420,000	$210,000
ALEXANDRIA, LA	2	$410,000	$205,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA	1	$405,000	$405,000
DUBUQUE, IA	2	$400,000	$200,000
WARREN-TROY-FARMINGTON HILLS, MI	2	$400,000	$200,000
THE VILLAGES, FL	2	$390,000	$195,000
PUNTA GORDA, FL	2	$380,000	$190,000
SEBRING-AVON PARK, FL	1	$375,000	$375,000
GRAND RAPIDS-KENTWOOD, MI	2	$370,000	$185,000
FORT WAYNE, IN	2	$360,000	$180,000
FLORENCE-MUSCLE SHOALS, AL	2	$360,000	$180,000
SAVANNAH, GA	2	$360,000	$180,000
BECKLEY, WV	4	$350,000	$87,500
MANKATO, MN	1	$345,000	$345,000
AKRON, OH	3	$345,000	$115,000
SALISBURY, MD-DE	2	$340,000	$170,000
WENATCHEE, WA	1	$335,000	$335,000
GREENVILLE, NC	1	$325,000	$325,000
LEXINGTON-FAYETTE, KY	2	$310,000	$155,000
ST. CLOUD, MN	3	$305,000	$101,667
PRESCOTT VALLEY-PRESCOTT, AZ	1	$295,000	$295,000
DETROIT-DEARBORN-LIVONIA, MI	1	$285,000	$285,000
MIAMI-MIAMI BEACH-KENDALL, FL	1	$285,000	$285,000
JONESBORO, AR	2	$280,000	$140,000
FRESNO, CA	2	$280,000	$140,000
COLUMBUS, IN	1	$275,000	$275,000
KENNEWICK-RICHLAND, WA	1	$275,000	$275,000
LAKE CHARLES, LA	1	$265,000	$265,000
FLORENCE, SC	2	$260,000	$130,000
SALEM, OR	1	$255,000	$255,000
WATERLOO-CEDAR FALLS, IA	2	$250,000	$125,000
GOLDSBORO, NC	1	$235,000	$235,000
HOMOSASSA SPRINGS, FL	1	$235,000	$235,000
COLUMBUS, GA-AL	1	$215,000	$215,000
WINSTON-SALEM, NC	2	$210,000	$105,000
HARRISBURG-CARLISLE, PA	2	$210,000	$105,000
JACKSON, TN	1	$205,000	$205,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL	1	$205,000	$205,000
AUBURN-OPELIKA, AL	1	$205,000	$205,000
CARBONDALE-MARION, IL	1	$195,000	$195,000
PEORIA, IL	1	$195,000	$195,000
GARY, IN	1	$185,000	$185,000
ROCKY MOUNT, NC	1	$185,000	$185,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL	2	$180,000	$90,000
HOUMA-THIBODAUX, LA	2	$170,000	$85,000
SEBASTIAN-VERO BEACH, FL	1	$165,000	$165,000
AUGUSTA-RICHMOND COUNTY, GA-SC	1	$165,000	$165,000
LOGAN, UT-ID	1	$165,000	$165,000
OCALA, FL	1	$155,000	$155,000
RICHMOND, VA	1	$155,000	$155,000
MUNCIE, IN	1	$145,000	$145,000
STAUNTON, VA	1	$145,000	$145,000
PINE BLUFF, AR	1	$135,000	$135,000
KOKOMO, IN	1	$135,000	$135,000
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA	2	$130,000	$65,000
JEFFERSON CITY, MO	1	$125,000	$125,000
TERRE HAUTE, IN	1	$115,000	$115,000
TALLAHASSEE, FL	1	$105,000	$105,000
JANESVILLE-BELOIT, WI	1	$105,000	$105,000
SPARTANBURG, SC	1	$95,000	$95,000
OSHKOSH-NEENAH, WI	1	$85,000	$85,000
WAUSAU-WESTON, WI	1	$65,000	$65,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA	1	$65,000	$65,000
FLINT, MI	2	$60,000	$30,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN	1	$55,000	$55,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate	Originations	Total Value	Average Loan
<2.5%	1,621	$13,585,000	$8,381
2.5-3%	168	$39,920,000	$237,619
3-4%	9,200	$2,128,170,000	$231,323
4-5%	9,781	$2,005,075,000	$204,997
5-6%	3,123	$519,835,000	$166,454
6-7%	230	$31,200,000	$135,652
7-8%	20	$1,200,000	$60,000

Loan Sizing

Loan Size	Originations	Total Value	Average Loan
$100,000 or less	4,038	$186,390,000	$46,159
$100k-200k	9,723	$1,480,825,000	$152,301
$200k-400k	9,061	$2,453,615,000	$270,789
$400k-600k	1,252	$570,530,000	$455,695
$600k-1000k	67	$45,075,000	$672,761
$Over $1MM	2	$2,550,000	$1,275,000

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan
20-40%	460	$62,830,000	$136,587
40-60%	1,278	$237,610,000	$185,923
60-80%	5,245	$1,140,345,000	$217,416
80-100%	14,875	$3,164,755,000	$212,757
Over 100%	417	$110,255,000	$264,400
Under 20%	1,868	$23,190,000	$12,414

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan
$100k-150k	4,640	$1,183,860,000	$255,142
$150k-250k	2,266	$681,800,000	$300,883
$50k-75k	7,138	$1,154,390,000	$161,725
$50k-or less	4,821	$567,345,000	$117,682
$75k-100k	4,657	$956,415,000	$205,371
$Over $250k	617	$194,205,000	$314,757

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan
White	19,188	$3,798,440,000	$197,959
Not provided	2,096	$422,710,000	$201,675
Black	1,713	$282,475,000	$164,901
American Indian	532	$101,620,000	$191,015
Asian	434	$94,030,000	$216,659
Asian Indian	56	$14,180,000	$253,214
Other Asian	28	$5,640,000	$201,429
Native Hawaiian	25	$5,385,000	$215,400
Chinese	16	$3,960,000	$247,500
Vietnamese	13	$3,545,000	$272,692
Filipino	15	$2,555,000	$170,333
Other Pacific Islander	10	$1,700,000	$170,000
Korean	9	$1,625,000	$180,556
Guamanian	2	$410,000	$205,000
Native Hawiian	4	$360,000	$90,000
Japanese	2	$350,000	$175,000

Approval Rates

Total approvals of all applications
96.98%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
65.02%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points	Originations	Total Value	Average Loan
999.75	1	$95,000	$95,000
NA	24,142	$4,738,890,000	$196,292

Origination Fees

Origination Fee	Originations	Total Value	Average Loan
$<1k	14,050	$2,501,920,000	$178,073
$1k-2k	6,553	$1,429,045,000	$218,075
$2k-3k	1,507	$338,245,000	$224,449
$3k-4k	1,059	$277,515,000	$262,054
$5k+	305	$106,635,000	$349,623

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	384	$49,200,000	$128,125
Single Family (1-4 Units):Site-Built	23,759	$4,689,785,000	$197,390