April 29th 2018 Newsletter
Shady Kevin Stitt Wants to be Governor
Kevin Stitt thinks he is the answer to Oklahoma's problems and wants to be Governor. But Governors need to be clean living and honorable people, something that Stitt hasn't been to worried about in his life so far. There is a website that has chronicled all of this and we have reported on it several times last year but it bears repeating. There is a document out of Tennessee that documents many of the states that have booted Kevin Stitt or his company out of business or have had other regulator matters that either required becoming legal in the state or leaving the state.
In Georgia his company was fined and banned from the state forever, including companies associated with Gateway Mortgage, and Stitt himself was banned for five years for getting a mortgage license.
Gateway was also sued for selling fraudulent loans to a company that was bankrupted, Lehman Brothers, after the mortgage meltdown that started in 2008. It was companies like Kevin Stitt's Gateway Mortgage that sent the country into recession simply because Stitt wanted commissions for selling mortgages to borrowers without the ability to pay the loans back. Wells Fargo also sued Gateway for the same.
Gateway Mortgage managed to rack up a 11.9% default rate and manged the #2 slot in the Ten Most Shady Mortgage Companies according to BusinessInsider.com. By comparison one New York company called Abacus Federal Savings and Loan had three bad loans out of 3,000 loans yet they were subjected to a five year prosecution. Gateway sold twice as many bad loans as the other companies on the list, making it the shadiest of the shady mortgage companies.
Illinois punished Gateway by temporarily banning them, and afterward put Gateway on probation for being caught committing fraud. A hefty fine was paid as well.
Gateway took advantage of the federal bailout money caused by the recession that THEY caused by selling fraudulent mortgages to people unable to pay back the loans. The gravy train lasted until last year actually. For ten years Kevin Stitt made millions off the taxpayers.
Arkansas had to fine Gateway and Kevin Stitt for breaking the law by running an illegal mortgage business in Arkansas. There were twenty five separate violations punishable by up to two hundred and fifty thousand dollars per violation yet somehow Kevin Stitt walked away paying just $15,000.
Then after the shenanigans at the Capitol with sexual harassment and discrimination would we want a governor with a history of both in his company? Stitt was sued and settled out of court for sexual discrimination and his company was sued and settled out of court for sexual harassment.
The website also covers Kevin Stitt lying during a radio interview, claiming to vote for Ted Cruz yet voting records show that he has never voted in a GOP Primary.
Ten states either prosecuted, fined, or banned Kevin Stitt and his company for a multitude of fraud and illegal activity yet he wants to walk into the Governor's mansion as if he is a decent human being?
