DAS Acquisition Co. LLC, St. Louis, has purchased a portion of the assets of LoanSurfer.com LLC for an undisclosed price. Douglas A. Schukar, president and chief executive officer of DAS, said the purchase includes the retail mortgage business for the St. Louis metropolitan area currently operating under the name USA Mortgage, along with the business-to-business private-label mortgage activity and other loan origination phases of the business. Mr. Schukar joined LoanSurfer.com in February of last year as the vice president of sales and new business development.
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Even with the positive news when it came to income, two of the big four underwriters had their earnings outlook slashed, while a third received an upgrade.
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AD Mortgage's news survey finds 82% expect AI to transform the industry, and relationship skills will decide who wins in 2027.
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An acquisition this year could be one in a line of other future deals, potentially involving lenders or commercial real estate firms, Ellington executives said.
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If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the U.S. with about $6.6 billion in combined revenue.
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Fannie Mae and Freddie Mac's oversight chief said that he's displeased with a report that these builders have retreated from serving first-time buyers.
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The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.
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