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The Anadarko Daily News

n- other documentation to explain Crow officials for failing to account sa
Oct ng en
03

2018 d-
Stitt’s Gateway Mortgage in aw

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re
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federal district court today la
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o- JENKS (OK) — Gateway Mort- “We know from public records in
Clip
resized or gage, the company founded by that dozens of Oklahomans lost
81% h Oklahoma gubernatorial candidate their homes, including at least 24 to
or Kevin Stitt was a party to a lawsuit people in Tulsa, who found them- ov
ve today in federal court. selves on the wrong side of Kevin og
es The hearing, which was held in Stitt’s predatory lending business. fo
re the Southern District of New York, These legal troubles are not behind tie
of was part of a civil suit filed in bank- Kevin Stitt. They are playing out in ab
n- ruptcy court against Gateway Mort- the federal courts as we speak. C
as gage Group and others in Enough is enough. ho
December 2016 by Lehman Broth- “The difference could not be tio
nd ers Holdings. clearer: Drew Edmondson has a N
l- The lawsuit alleges Stitt’s com- record of standing up to predatory
re
i-
pany was among those that sold de-
fective mortgages to consumers at
lenders. At least eight states have
said Kevin Stitt was one.”
K
the height of the mortgage crisis. An additional hearing was sched- a
na According to the lawsuit, Gate- uled for Oct. 29.
ws way resold the defective mortgages The style and case number for so
or to Lehman Brothers, ultimately this matter is: hi
causing Lehman Brothers to fail Lehman Brothers Holdings, Inc. in
o- and the collapse of the mortgage in- et. al. vs. Gateway Mortgage
d dustry. Group, LLC ha
te Stitt founded Gateway Mortgage, U.S. Bankruptcy Court Southern m
a- which has been named one of the District of New York — Case num- th
ng top 15 shadiest mortgage lenders by ber 16-01291 filed 08/23/18 dr
s, Business Insider. ———— on
he “Court proceedings are ongoing, (EDITOR’S NOTE: Listings for ga
d and it will likely take years to sort Gateway Mortgage foreclosures in so
ll through Gateway’s role in the mort- Caddo County may be found on the Tr
l- gage collapse,” said Michael Cling- Okahoma District Court records tr
man of Oklahoma City. website: odcr.com te

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