Core Team Powered by USA Mortgage in McKinney
Employee-owned DAS Acquisition Co./USA Mortgage, already the largest mortgage lender in Missouri, has opened offices in five new markets and is targeting $2 billion in loan volume in 2019, according to its CEO.
“An expanding national footprint and success in growing market share in a number of the cities in which we currently compete make us optimistic about attaining the $2 billion milestone this year,” founder and CEO Doug Schukar told the Business Journal.
The latest offices are in Auburn and Portland, Maine; Nashville, Tennessee; McKinney, Texas; and Seattle, giving it more than 50 offices in 34 states. It has added 90 people this month and has more than 600 total employees.
Schukar said USA Mortgage’s growth has been bolstered by consolidation in the industry. “While the broad market is compressing due to shrinking profit margins and rising interest rates, top producers continue to flock to us because of our reputation for aggressive product development and for leading the way in efficiently applying time-saving technology,” he said. “Operations talent finds the opportunity to join an employee-owned company attractive. The combination continues to propel our growth.”
At year end 2017, Schukar transferred 100 percent of his ownership in the company to employees through an Employee Stock Ownership Plan, or ESOP, as part of succession planning.
The firm, launched in 2001, has surpassed $1 billion in loans annually since 2009 and has been Missouri’s largest home lender since 2014, with $1.5 billion in loans in 2017, making it the 174th privately held company in St. Louis, according to a Business Journal ranking.
CORE Team, USA Mortgage McKinney Branch is located at: 2150 S. Central Expressway, Suite 310, McKinney, TX 75070 | (214) 572-2557 | Branch NMLS # 1822579 | CoreTeamLending.com For more information, please email us: email@example.com
Not a commitment to lend. Additional terms and conditions apply. DAS Acquisition Company, LLC d/b/a USA Mortgage NMLS # 227262 is not affiliated with or endorsed by any government entity or agency, including USDA, HUD or VA. Headquarters: 12140 Woodcrest Executive Drive, Suite 150, St. Louis, Missouri 63141, TollFree: (888) 250-6522 | Equal Housing Lender
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