Mortgage Daily

Published On: July 27, 2009
Billion Dollar Producer Expands Staff by HalfUSA Mortgage projects $1 billion 2009 production

July 27, 2009

By MortgageDaily.com staff

A Missouri firm expects become a billion dollar producer this year — doubling last year’s residential originations. So far during 2009, the company has boosted its staff by more than half.

In a press release today, USA Mortgage announced a 30 percent expansion at its headquarters in Creve Coeur, Mo.

The company said the added space reflects accelerating growth.

Last year, home-loan production was $586 million, the company said in a statement to MortgageDaily.com.

Residential originations during the first-half 2009 already exceeded $700 million. By the end of the year, USA Mortgage expects to have funded a record $1 billion.

Facilitating the strong growth are 200 employees, up from 130 at the end of 2008.

USA Mortgage was acquired by President and Chief Executive Officer Doug Schukar in 2001 and “is a division of DAS Acquisition Company, LLC, the largest mortgage bank in metro St. Louis.”

Related:

Mo. Firm Growing
Mortgage production at one Missouri firm is as good as it was during 2003 — when industry originations reached a record. The company has hired more than 50 new employees and has plans to add 50 more.

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