While career politicians were leading Oklahoma down a path towards last place over the past two decades, Kevin Stitt was building his Oklahoma business from scratch, problem solving during the economic crisis in 2008-2010, and becoming an award-winning nationwide company. Kevin Stitt has created hundreds of jobs across nine Oklahoma cities and a total of 1,200 jobs across 41 states. Instead of playing political games, Kevin has had his head down, working hard to expand Oklahoma’s economy while also raising his six children with his wife Sarah.
Over the course of the election, the political establishment and outside groups have gone after Kevin Stitt, spending more than $2 million to mislead and misinform voters on his history. Below is a fact check to set the story straight:
Accusation: Gateway Mortgage was named one of the “top shadiest mortgage companies” in a Business Insider article.
Truth: The Oklahoman fact checked the 2009 Business Insider’s claim about Gateway’s license in Illinois. It was never revoked, as Business Insider claimed. Gateway fired an employee and agreed to pay a fine. Gateway continues to do business in Illinois today and is in good standing with state regulators!
In regard to Business Insider’s claim about Gateway’s foreclosure rate, the data Business Insider used is no longer available by the FHA for any entity to fact check or source. What we know is that at the time the article was written, Gateway Mortgage had been originating FHA loans for only a handful of months, not years or at high volumes like the other companies listed. While these other companies went out of business during the 2008 crisis, Gateway Mortgage emerged stronger and grew into 27 more states because of Kevin Stitt’s leadership to modernize his business model, maintain regular audits of all Gateway’s field offices, and be in good standing with state and federal regulators.
Since 2012, Gateway has been recognized 15 times for its success, growth and corporate culture. The Oklahoman has awarded Gateway with the “Top Workplace” award four times, 2013, 2014, 2016, and 2017, an award given based on surveys completed by company employees. Gateway Mortgage Group was also recently named to the Inc. 5000 list for the 7th time. This prestigious honor solidifies Gateway’s place among the elite successful private companies in the nation. Gateway has received several other recent awards that also promote the company’s culture of growth, family, and purpose: “Top 100 Mortgage Companies” by Mortgage Executive Magazine and “Top Workplaces” by National Mortgage Professional Magazine. Gateway is also recognized for having a foreclosure rate that is 50 percent below the national average.
Accusation: Kevin Stitt and Gateway were “suspended” in multiple states.
Truth: The Associated Press called this accusation from Drew Edmondson UNTRUE! Kevin Stitt and Gateway can do business in all 50 states. Kevin Stitt and Gateway have not been “kicked out” of Illinois, Arkansas, or any other state as paid TV ads coming out of Washington, D.C. have stated.
Gateway is a success story, and like any business, it has corrected mistakes and taken action against bad actors. What the attack ads fail to tell you is that Kevin Stitt requires routine internal reviews at Gateway to maintain efficiency and accountability of his 165 field offices’ operations and budgets. These field offices are the equivalent of small businesses across America, and the audits allow him to catch poor business performance in the early stages so that the company can take swift, corrective action. It is time we require this type of transparency, accountability, and efficiency in state government!
Accusation: Gateway Mortgage is under litigation with Lehman Brothers.
Truth: Lehman Brothers sued hundreds of businesses around the country to the tune of $4 billion after Lehman went bankrupt. Their lawsuit involves only a handful of loans originated by Gateway, equal to .01% of Lehman’s total $4 billion suit. Gateway Mortgage is a success story with more than 1,200 employees, many in Oklahoma, and a nationwide-award winning reputation with a delinquency rate that is 50% below the national average.
Accusation: Drew Edmondson’s TV ad says Kevin Stitt called Mary Fallin “great” and couldn’t find one thing he disagreed with her about.
TRUTH: Here is Kevin Stitt’s full quote with KOCO-TV, the source Edmondson references in his TV ad: “I don't know Mary [Fallin] that well and all those politicians are great and I'm sure they're all nice people. I think I'm totally different from those career politicians. In my opinion, you know they've never set strategy they've never led they've never hired anybody, made the tough decision. There's no easy decisions here there's no silver bullet.”
Accusation: The liberal media is calling Kevin Stitt an “anti-vaxxer”
TRUTH: As reported by Stillwater News Press, this “anti-vaxxer” label was clickbait by a liberal MSNBC columnist and there is actually no difference between Kevin Stitt and Drew Edmondson on this issue!
- They both have given all their children various vaccinations required for school and recommended by doctors.
- They both do not support changing current state law on mandated vaccines.
- They both believe these decisions should be made by the parent in consultation with doctors.