In February of the year, The St. Louis Business Journal announced that USA Mortgage/Das Acquisition ranked number one in Missouri for USDA loans.  In a one-year period – between October 1st, 2010 and Sptember 30th, 2011 – $23 million in loans for home purchase transactions were placed.  President and CEO of DAS Acquisition Co. LLC – Doug Schukar – spoke out on behalf of the company.

“We are commited to affordable home ownership for first-time buyers.  USDA is a big part of our growth initiatives statewide, so we expect a significant increase in USDA financing in 2012,” Schukar told the St. Louis Business Journal.

Inc. Magazine ranked USA Mortgage in the annual Inc. 5000 compilation of the nation’s fastest growing privately held companies.  In additional financial data provided by the Business Journal, the company exceeded the $1 billion mark in annual loan volume in 2011 for the third consecutive year – a 2.5 percent increase compared to the 2010 numbers.  Just in refinancing alone, USA Mortgage brought in $636.6 million in 2010.  Although rates have been at all-time lows across the U.S. within the last few years, revenue is climbing for USA Mortgage.

As far as the St. Louis mortgage market is concerned, six of the ten largest home mortgage lenders made more loans in 2010 than the year prior.  Together they reached 7.44 billion in mortgage loans – a 1.6 percent increase from 2009.

USA Mortgage & DAS Company Merger

On August 4th, 2008 DAS Acquisition Company, LLC announced its ownership of USA Mortgage in an effort to enhance their lending platform.  The changes mandated by the U.S. Government as a result of the mortgage meltdown are causing mortgage companies to restructure and reorganize.  Together, USA Mortgage and DAS Acquisition Company has become a full-service mortgage bank with a specialization in residential home loans and business-to-business partnerships with financial service firms, credit unions, retail banks, real estate agents and homebuilders.

For more information on the USA Mortgage and DAS Acquisition Company merger, click here for the formal press release.