The St. Louis Business Journal reports: Creve Coeur-based DAS Acquisition Co. LLC has entered into a joint venture agreement with a Phoenix-based real estate franchisor to boost loan volume.
DAS Acquisition, the home mortgage lender that does business nationwide as USA Mortgage, said the venture with Realty Executives International Services LLC is starting with two loan offices in the St. Louis area and one in Kansas City.
The brand name is Mortgages by Experts and the legal name of the joint venture entity is Mortgages by Experts 1 LLC. The final documents were signed last month.
The two local offices opened this week with four loan officers working in existing offices of franchisee Realty Executives of St. Louis in Sappington and Imperial. The Kansas City office will have one loan officer and will open later this year. Ron Mueller, president of DAS Acquisition, said the goal is for the three offices to reach $200 million in annual loan volume, generating $5.5 million in annual revenue.
“We’re excited to partner with Realty Executives International because they have hundreds of franchises all over the United States,” said Ron Mueller, president of DAS Acquisition.
