Mortgage lender makes acquisition, taking it into 15th US state so far
St. Louis-based DAS Acquisition Co., which operates as USA Mortgage has acquired Providence Home Lending, entering the Wisconsin residential real estate lending market for the first time.
Providence operates offices in Brookfield, Madison, Mukwonago and Watertown and has been running since 1998.
Financial terms were not disclosed but DAS said it will keep the Providence brand alive.
The purchase makes Wisconsin the15th state where DAS is licensed.
"With their strong network of business referral sources in dynamic markets such as Madison and the northern suburbs of Milwaukee, we believe James [Mercado, founder] and his team have tremendous potential for sustained growth," Doug Schukar, president and chief executive officer of DAS, said of the purchase.
Providence operates offices in Brookfield, Madison, Mukwonago and Watertown and has been running since 1998.
Financial terms were not disclosed but DAS said it will keep the Providence brand alive.
The purchase makes Wisconsin the15th state where DAS is licensed.
"With their strong network of business referral sources in dynamic markets such as Madison and the northern suburbs of Milwaukee, we believe James [Mercado, founder] and his team have tremendous potential for sustained growth," Doug Schukar, president and chief executive officer of DAS, said of the purchase.
