Business is booming.

Mortgage market share expansion: A primer

Gateway continues to grow and expand its footprint to meet the increasing demand from local communities for home financing,” Scott Gesell, CEO of Gateway, said at the time. “We are committed to the families and communities we serve. Our momentum is a testament to our team members’ persistent focus on connecting with people to positively impact their lives.”

That previous expansion also coincided with Plaisance’s arrival at Gateway in February of that year. On his arrival, he hinted at the expansion strategy that has now been manifest as he spoke of a commitment to customer service. “Part of that commitment is through a growth strategy of expanding to new communities where more customers can enjoy the Gateway experience of putting people first,” he said.

From bustline Arkansas to ‘sleepy little town’

In his most recent interview with MPA, Plaisance described two of the markets in its latest expansion, illustrating the granular level of research conducted before moving into an area. He spoke of Cape Girardeau in Missouri, a city with a population of some 40,000 people, and the more populous region of northwest Arkansas.

“Northwest Arkansas is, quote and unquote, Walmart country,” he explained. “If you look at any list of the top areas that are growing, that’s been perennially on the list because of Walmart being there. You do have some hyperinflation occurring in some of the housing there, but you also have good-paying, stable jobs there as well driven by Walmart and all the ancillary vendors there because of Walmart.”

At the other end of the spectrum is Cape Girardeau: “A sleepy little town on the Mississippi River,” Plaisance described. “Other than we had a known person there, you do a little homework on what’s in that market and what the opportunity is. There’s a lot of Cape Girardeaus out there,” he said. “It’s just a matter of tapping into them.”

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