USA Mortgage/DAS Eclipses $1 Billion in Volume

USA Mortgage/DAS Acquisition Company LLC has eclipsed the $1 billion milestone in annual loan volume for the fifth consecutive year. It also remains on pace in 2013 to be the top mortgage lender in metro St. Louis for the second straight year (an area that includes Jefferson, St. Charles and St. Louis counties and the City of St. Louis). “Reflecting national trends, we’ve seen purchase loans decisively out-pace refinancing loans by about a two-to-one margin in July and August, 2013,” said Doug Schukar, president and CEO of DAS Acquisition, the largest mortgage bank in metro St. Louis and the parent of USA Mortgage. “Conversely, over the first six months of 2013, approximately 60 percent of our volume was refinance business and 40 percent new purchase loans." As mortgage interest rates rise, the company’s size and fund-sourcing sophistication give it a competitive edge that it puts to work for the benefit of customers. “We have excellent  relationships with some of the most cost-efficient funding sources in the global marketplace,” said Schukar. Also, for the fourth consecutive year, USA Mortgage/DAS Acquisition was ranked by Inc. magazine in the annual Inc. 5000 compilation of the nation's fastest-growing private companies.