Gateway Funding launches new correspondent division

Gateway Funding Diversified Mortgage Services LP has announced its recent launch of a Correspondent Lending Division, buying loans from lenders, bankers and financial institutions in the Mid-Atlantic States. Gateway Funding Correspondent will offer a range of products, best in class turn times for underwriting and purchases, a customized servicing retention option, government sponsorship and much more. "It's time for the market to get back to the basics of bringing value to a long-term relationship, everyone wins when you are committed to doing it the right way for the long term", said Bruno Pasceri, president and chief executive officer at Gateway Funding. As a strategic initiative Gateway Funding has its eye on the FHA 203K Renovation Loan program. "Lenders today are looking for the next loan program that makes sense for the borrower, adds value and builds our communities. The 203k renovation program is just that opportunity." Demand for renovation lending products is likely to continue increasing over the next several years. Lenders choosing to promote renovation lending as a strategic initiative should benefit from this growth and the opportunities for added profitability associated with these products. For more information, visit www.correspondent.gateway-funding.com.