Gateway Mortgage Group, which operates 50 mortgage retail branches across the country, acquired its largest branch in Omaha, the company's first location in the city.

The new location in Omaha was once part of the MetLife (MET) retail loan network.

MetLife announced earlier in the year that it would be exiting the mortgage origination business. That decision led to the lay off of hundreds of MetLife employees.

Gateway Mortgage officially entered the Omaha market after acquiring the old MetLife location at 12020 Shamrock Plaza in Omaha.

Kent Geschwender, who has more than 25 years experience in the mortgage industry, will lead the new branch and its staff of eight loan officers. Geschwender most recently served as branch manager with MetLife Home Loans.

"Our business was on the verge of a large transition, and we were being pursued by several major lenders across the country. We knew it was important to align ourselves with a lender that shared the same core values we deliver to our borrowers every day," said Geschwender.

"By joining Gateway, we are able to continue to process, underwrite, close and service our loans locally. Gateway’s business principles were a natural fit for us and allow us to enhance our borrowers’ experience through the life of their loan."

kpanchuk@housingwire.com