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MO Lender Increases Staffing, Originations

Mortgage News

A mortgage banker operating from Missouri pushed annual production up last year and hopes to increase originations by another third this year. The company plans to continue recruiting additional staff to support its growth.

USA Mortgage originated $1.115 billion during 2011, Doug Schukar, the president and chief executive officer of parent DAS Acquisition Company LLC, reported to Mortgage Daily.

Business increased from $1.088 billion funded during 2010.

During the first quarter of this year, production totaled $0.365 billion.

By the time the year is finished, Schukar projects that originations will reach $1.5 billion.

Loan production was supported by 321 employees as of the end of last year. Staffing grew from 257 as of Dec. 31, 2010.

Headcount at USA Mortgage now stands at 392 employees and is expected to reach 425 by the end of 2012.

Schukar is a finalist for the Ernst & Young Entrepreneur Of The Year 2012 Award for the Central Midwest, according to a statement Tuesday from the St. Louis-based company.

USA Mortgage claims to have a 7.07 percent market share in the St. Louis metropolitan statistical area.

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