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MO Firm Maintains $1 Billion Status

A mortgage banker operating in Missouri managed to originate more than $1 billion for the second year in a row.

Residential production has moved past $1 billion this year at USA Mortgage, the company said in a news release today.

During 2009, the St. Louis-based firm originated $1.206 billion, according to previous reports. Volume has grown from just $0.586 billion in 2008.

USA Mortgage President and Chief Executive Officer Doug Schukar noted in today’s statement that the lender has an edge because it keeps the entire mortgage process in-house.

Headcount at USA Mortgage is over 200 employees, about same as its been since July 2009. At the end of 2008, around 130 people were employed.

The staff operates from 10 Missouri offices and one Illinois location.

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