Staff Writer
PRESQUE ISLE — Gateway Title Services, Inc., located at 121 State St. in the former American Red Cross building, is now open, with staff ready to meet your title needs. The business comes with a long history in the real estate business.
“I received my law degree in 1972 from Suffolk University in Boston, then returned home to Lincoln where I joined in the practice of law with a family friend, Richard Broderick, Sr.,” said Daniel G. Aiken, president of Gateway Title Services, Inc. “By 1980, I decided to go own my own, continuing the general practice of law, with a heavy emphasis on transactional real estate.”
As time passed, Aiken said he noticed that lenders were more and more using title companies to close their real estate loans.
“I did some investigating and found such entities were doing the exact same thing as I as a lawyer handled, but for some peculiar reason, the lenders seemed to like using title companies for their closings,” he said.
It was at that point Aiken decided to open his own title company.
“I formed Gateway Title Services, Inc., in 1989. Nothing else was changed involving the practice of real estate. I just put on a new hat and called it a title company,” explained Aiken.
Business continued to evolve. Aiken noted that in the early 1990s, the business of transactional real estate made some dramatic changes.
“Lenders were insisting on predictability for their fees and Gateway entered into contracts with Peoples Heritage Bank, in Lincoln (now TD Banknorth), to perform all their closings for a flat fee,” he said.
Gateway also made an agreement to perform all home-equity title searches for all KeyBank branches in the state of Maine, with the exception of Cumberland and York counties. Aiken credited modern office equipment for allowing the company to broaden its client base.
“The Fax machine allowed Gateway to perform its services throughout the state from our Lincoln office,” said Aiken.
As the ‘90s continued, Aiken said the real estate business became more robust and an office was opened in Bangor in 1997. A third office was opened in South Portland in 1998. Expansion efforts continued, with additional offices opened in southern Maine.
“Expansion into central Main took place with the opening of a Waterville office in 2001 and a Midcoast office was opened in Belfast in 2004,” Aiken said.
The companied continued to grow, broadening its services to include New Hampshire.
“In 2007, an office was opened in Portsmouth, N.H., to service that market,” said Aiken.
The decision to open an office locally followed years of service to County property owners.
“Gateway Title, with its statewide coverage, has been doing real estate closings in Aroostook County for many years. Carl Willoughby, marketing representative for Gateway Title, has spent the last year talking to local brokers and lenders and obtaining information that dictated Gateway’s decision to open an office in Presque Isle,” said Aiken.
When the decision was made to expand, a realtor was contacted and the search began for a suitable site in the area.
“Gateway secured an office from a local real estate broker, Fred Dobbs, who has renovated the former American Red Cross building, located at the intersection of State St. and Riverside Dr., pursuant to Gateway’s specifications,” he said, adding, “Gateway purchased its machinery, furniture and supplies from local vendors.”
Aiken has over 30 years in the transactional real estate business. Lori Plourde, of Caribou, will manage the Presque Isle office, according to Aiken, assisted by Allison Weber, also from Caribou. He credited his staff for making the business the success it is today.
“Betty Jordan joined me in 1986 and has been at the forefront of the expansion of Gateway and is the general manager of all seven offices. Legal issues are handled by John Kirk, who has been a lawyer for Gateway Title since September 2003. Lori and Allison will be on the front line in administering Aroostook County transactions but will be backed up by Betty and John, as well as 21 other expert personnel, to help resolve complicated legal and closing issues,” said Aiken.
Aiken said Gateway personnel understand the competitive nature of the business. It’s also important, according to Aiken, to be a contributing member of the local economy.
“Gateway understands the lending business is extremely competitive and lenders and real estate brokers, as well as their respective clients, expect their transactions to close promptly and at their convenience,” said Aiken. “Gateway is happy to make a contribution to the economy of Aroostook County by providing employment opportunities, the purchasing of local products and services and filling a vacant commercial space in Presque Isle. We’re please to be here and look forward to serving our local customers at our new location.”
For more information about Gateway, call 760-9250, Fax 769-9252 or visit www.gatewaytitleme.com.
