USA Mortgage, a subsidiary of DAS Acquisition Co., was named by the Missouri Housing Development Commission as its “lender of the year” for 2012.
Don Brinker, homeownership manager for MHDC, said the commission analyzed about 60 lenders that they worked with last year and determined that St. Louis-based USA Mortgage was rated “highest in volume and best in ongoing thoroughness and quality of submissions.”
According to Doug Schukar, president and chief executive officer at USA Mortgage and DAS Acquisition Co., the firm currently participates in one out of every 12 home loans executed in the St. Louis metropolitan region.
He said the firm set an all-time high of $1.75 billion in loan origination in 2012, a 60% increase over the $1.1 billion it booked the prior year. This also represents the fourth consecutive year that USA Mortgage surpassed the $1 billion loan threshold, Schukar said.
MHDC, which was formed in 1969 and has sponsored the state’s awards program for six years, has invested approximately $4 billion to construct, renovate and preserve affordable housing.
The commission functions as a bank by providing financing directly to the developers of affordable rental properties, as well as offering funding for home loans to qualified, first-time buyers through a network of certified, private mortgage lenders.
