Gateway Funding:
A Mortgage Banker

What makes Gateway Funding unique is that we are a mortgage banker, not a mortgage broker. They might sound the same, and are often mistaken as the same, but mortgage brokers and mortgage bankers are actually quite different. Here’s how.

A mortgage broker is a “go-between” who brings mortgage borrowers and lenders together. In other words, you find a broker and the broker finds you a lender. A mortgage broker does not supply its own funds to originate mortgages. Instead, a mortgage broker collects the necessary information and prepares paperwork from the borrower and then hands it all off to a lender for underwriting and approval. The borrower then borrows mortgage funds in the name of the lender, and the mortgage broker collects fees for the work.

A Mortgage Banker, on the other hand, uses its own funds and closes mortgages in its own name. As a mortgage banker, Gateway Funding has the ability to design our own products, issue approvals, and loan our funds throughout the country, taking the “middleman” out of the equation. We do all the work, from origination, through processing, to underwriting, closing, and funding. As a mortgage banker, we also hold the power to make decisions.  We are able to analyze the best products from other financial institutions and mortgage companies and then make our own products better for our clients.

At Gateway Funding, it is all about the lender-borrower relationship. And by taking the middleman out of the process, we are better able to communicate with our clients and make sure that they are involved every step of the way.