USA Mortgage Adds New Team Members and New Partner

Not only did USA Mortgage reach the billion-dollar mark sooner than expected this year, we are also proud to take on a large team of lenders from Gershman Mortgage, as well as being named the preferred lender for Berkshire Hathaway HomeServices Select Properties. Read the full St. Louis Business Journal for more information about the company’s growth:

September 20, 2018

Not only did USA Mortgage reach the billion-dollar mark sooner than expected this year, we are also proud to take on a large team of lenders from Gershman Mortgage, as well as being named the preferred lender for Berkshire Hathaway HomeServices Select Properties. Read the full St. Louis Business Journal for more information about the company’s growth:

USA Mortgage, which has exceeded $1 billion in loan volume for 10 consecutive years, has snagged a large team of lenders from Gershman Mortgage and been named the preferred lender for Berkshire Hathaway HomeServices Select Properties.
Fourteen members of The Strick Group have joined USA from Gershman. Steve Strick projects that his team will produce more than $100 million in loan volume over the next 12 months.
The nine Berkshire offices closed more than 5,000 transactions valued in excess of $1 billion in 2017. Through the first eight months of 2018, closings stand at more than $760 million. Terms were not disclosed.
Maryann Vitale Alles, Berkshire’s co-owner, president and CEO, said USA came out on top in a competitive due diligence process. “Their culture mirrors our own,” she said. “Additionally, the litany of loan products USA Mortgage offers far exceeded the choices available through our affiliate.”

USA has been the top mortgage lender in St. Louis since 2012. Through the first seven months of 2018, it has the largest market share, with an 8.70 percent of total closed home loans, according to CoreLogic Marketrac. Stifel Bank is second with 3.96 percent.
The Strick additions bring total headcount to more than 300, USA CEO Doug Schukar said. The firm, which is employee owned, is licensed in 29 states and employs about 600 in total at more than 50 locations.

Original source: https://www.bizjournals.com/stlouis/news/2018/09/19/usa-mortgage-adds-ge...