USA Mortgage said that it has recorded an all-time high of $1.2 billion worth of home loans last year, more than twice the $586 million for loans in 2008.
Doug Schukar, CEO of USA Mortgage said the retail loan volume of the company hit $1.2 billion last year.
Creve Coeur, USA Mortgage’s parent company and a Missouri-based DAS Acquisition Company, said that its headcount increased 69 percent to 220 employees in 2009 compared with 130 in 2008. Most of the new lenders came from top mortgage brokers, which was greatly affected by the mortgage collapse.
“Last year the subprime bubble burst, and mortgage brokers had gone out of business. I believed that we had an opportunity to cherry-pick the top talent,” said Mr. Schukar in a report.