Das Acquisition Company, Llc

Saint Louis, MO 63141

LEI: 549300ZZME37MXI1EF14

Tax ID: 43-1918759

2019 Data | 2018 Data


Overview

Das Acquisition Company, Llc is a small mortgage company specializing in Home Purchase loans. Das Acquisition Company, Llc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include St. Louis, Dallas, Seattle, Springfield, and Dayton among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Das Acquisition Company, Llc is typically a medium-low fee lendor.


Originations

12,164

Origination Dollar Volume (All Markets)

$2,450,370,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 6,797 $1,536,455,000 $226,049
FHA 3,546 $570,710,000 $160,945
VA 1,009 $238,145,000 $236,021
USDA 812 $105,060,000 $129,384

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 9,409 $1,787,755,000 $190,005
Home Improvement 10 $3,000,000 $300,000
Refi 1,793 $460,875,000 $257,041
Cash Out Refi 952 $198,740,000 $208,761

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
ST. LOUIS, MO-IL 5,337 $1,106,125,000 $207,256
Outside of Metro Areas 1,793 $273,215,000 $152,379
DALLAS-PLANO-IRVING, TX 557 $150,215,000 $269,686
SEATTLE-BELLEVUE-KENT, WA 248 $106,500,000 $429,435
SPRINGFIELD, MO 592 $93,190,000 $157,416
DAYTON-KETTERING, OH 426 $61,970,000 $145,469
COLUMBIA, MO 328 $58,030,000 $176,921
CINCINNATI, OH-KY-IN 348 $56,650,000 $162,787
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 173 $46,175,000 $266,908
FORT WORTH-ARLINGTON-GRAPEVINE, TX 182 $41,010,000 $225,330
KANSAS CITY, MO-KS 168 $35,930,000 $213,869
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 129 $31,245,000 $242,209
BAKERSFIELD, CA 104 $22,090,000 $212,404
WATERLOO-CEDAR FALLS, IA 148 $21,830,000 $147,500
CAPE GIRARDEAU, MO-IL 151 $21,645,000 $143,344
NORTH PORT-SARASOTA-BRADENTON, FL 79 $19,465,000 $246,392
LEWISTON-AUBURN, ME 115 $19,285,000 $167,696
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 35 $19,205,000 $548,714
Outside of Metro Areas 75 $17,575,000 $234,333
PORTLAND-SOUTH PORTLAND, ME 70 $16,760,000 $239,429
TAMPA-ST. PETERSBURG-CLEARWATER, FL 58 $14,720,000 $253,793
JONESBORO, AR 95 $14,335,000 $150,895
PHOENIX-MESA-CHANDLER, AZ 33 $10,975,000 $332,576
CHICAGO-NAPERVILLE-EVANSTON, IL 41 $10,895,000 $265,732
JEFFERSON CITY, MO 66 $9,970,000 $151,061
WENATCHEE, WA 30 $9,580,000 $319,333
JOPLIN, MO 74 $8,870,000 $119,865
TACOMA-LAKEWOOD, WA 16 $5,830,000 $364,375
COLUMBUS, OH 32 $5,750,000 $179,688
PENSACOLA-FERRY PASS-BRENT, FL 28 $5,410,000 $193,214
LAKE CHARLES, LA 31 $5,205,000 $167,903
ORLANDO-KISSIMMEE-SANFORD, FL 22 $5,180,000 $235,455
DAPHNE-FAIRHOPE-FOLEY, AL 29 $4,665,000 $160,862
KENNEWICK-RICHLAND, WA 19 $4,435,000 $233,421
MILWAUKEE-WAUKESHA, WI 22 $4,380,000 $199,091
SPRINGFIELD, OH 32 $4,140,000 $129,375
LOS ANGELES-LONG BEACH-GLENDALE, CA 8 $3,980,000 $497,500
MOUNT VERNON-ANACORTES, WA 13 $3,925,000 $301,923
SAN ANTONIO-NEW BRAUNFELS, TX 19 $3,865,000 $203,421
OAKLAND-BERKELEY-LIVERMORE, CA 7 $3,695,000 $527,857
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 9 $3,335,000 $370,556
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 13 $2,995,000 $230,385
AUSTIN-ROUND ROCK-GEORGETOWN, TX 9 $2,865,000 $318,333
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 9 $2,685,000 $298,333
CLARKSVILLE, TN-KY 13 $2,585,000 $198,846
DENVER-AURORA-LAKEWOOD, CO 6 $2,410,000 $401,667
DES MOINES-WEST DES MOINES, IA 12 $2,190,000 $182,500
WICHITA, KS 13 $2,155,000 $165,769
ANAHEIM-SANTA ANA-IRVINE, CA 5 $2,055,000 $411,000
MADISON, WI 11 $1,965,000 $178,636
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 12 $1,890,000 $157,500
CEDAR RAPIDS, IA 12 $1,830,000 $152,500
KNOXVILLE, TN 6 $1,790,000 $298,333
GAINESVILLE, GA 9 $1,755,000 $195,000
SHERMAN-DENISON, TX 10 $1,730,000 $173,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 6 $1,710,000 $285,000
CAPE CORAL-FORT MYERS, FL 9 $1,665,000 $185,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 4 $1,380,000 $345,000
BIRMINGHAM-HOOVER, AL 7 $1,335,000 $190,714
PALM BAY-MELBOURNE-TITUSVILLE, FL 6 $1,310,000 $218,333
ELGIN, IL 7 $1,305,000 $186,429
BREMERTON-SILVERDALE-PORT ORCHARD, WA 3 $1,305,000 $435,000
PUNTA GORDA, FL 6 $1,270,000 $211,667
KILLEEN-TEMPLE, TX 3 $1,245,000 $415,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 6 $1,240,000 $206,667
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 3 $1,135,000 $378,333
CHATTANOOGA, TN-GA 7 $1,125,000 $160,714
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 2 $1,110,000 $555,000
AMARILLO, TX 8 $1,100,000 $137,500
BELLINGHAM, WA 3 $1,065,000 $355,000
BANGOR, ME 4 $1,030,000 $257,500
TULSA, OK 5 $1,025,000 $205,000
COLORADO SPRINGS, CO 3 $975,000 $325,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 4 $930,000 $232,500
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 4 $930,000 $232,500
JANESVILLE-BELOIT, WI 6 $930,000 $155,000
OLYMPIA-LACEY-TUMWATER, WA 2 $830,000 $415,000
TOLEDO, OH 8 $830,000 $103,750
GRAND RAPIDS-KENTWOOD, MI 2 $810,000 $405,000
AUGUSTA-RICHMOND COUNTY, GA-SC 3 $765,000 $255,000
OKLAHOMA CITY, OK 3 $755,000 $251,667
SPRINGFIELD, IL 4 $720,000 $180,000
JACKSONVILLE, FL 5 $695,000 $139,000
WACO, TX 2 $670,000 $335,000
MOBILE, AL 6 $670,000 $111,667
SPOKANE-SPOKANE VALLEY, WA 3 $665,000 $221,667
CLEVELAND-ELYRIA, OH 4 $650,000 $162,500
TUCSON, AZ 3 $645,000 $215,000
LONGVIEW, TX 3 $615,000 $205,000
ATHENS-CLARKE COUNTY, GA 3 $605,000 $201,667
MIAMI-MIAMI BEACH-KENDALL, FL 3 $585,000 $195,000
BOISE CITY, ID 1 $575,000 $575,000
MEMPHIS, TN-MS-AR 4 $570,000 $142,500
HUNTSVILLE, AL 3 $545,000 $181,667
LOUISVILLE/JEFFERSON COUNTY, KY-IN 4 $540,000 $135,000
LAWRENCE, KS 2 $540,000 $270,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 2 $520,000 $260,000
PORT ST. LUCIE, FL 2 $510,000 $255,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 2 $500,000 $250,000
NAPLES-MARCO ISLAND, FL 1 $485,000 $485,000
PROVIDENCE-WARWICK, RI-MA 1 $485,000 $485,000
WARREN-TROY-FARMINGTON HILLS, MI 2 $480,000 $240,000
ODESSA, TX 2 $480,000 $240,000
RACINE, WI 2 $470,000 $235,000
OCALA, FL 3 $465,000 $155,000
YAKIMA, WA 2 $450,000 $225,000
ST. JOSEPH, MO-KS 4 $450,000 $112,500
LEXINGTON-FAYETTE, KY 3 $445,000 $148,333
TYLER, TX 2 $430,000 $215,000
TUSCALOOSA, AL 2 $420,000 $210,000
LIMA, OH 3 $405,000 $135,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 2 $390,000 $195,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 1 $385,000 $385,000
COEUR D'ALENE, ID 1 $385,000 $385,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 2 $370,000 $185,000
WICHITA FALLS, TX 3 $365,000 $121,667
DULUTH, MN-WI 1 $315,000 $315,000
WILMINGTON, NC 1 $315,000 $315,000
KANKAKEE, IL 3 $315,000 $105,000
IOWA CITY, IA 1 $305,000 $305,000
OGDEN-CLEARFIELD, UT 1 $305,000 $305,000
EVANSVILLE, IN-KY 2 $300,000 $150,000
STOCKTON, CA 1 $295,000 $295,000
BEND, OR 1 $295,000 $295,000
MONROE, LA 1 $295,000 $295,000
FOND DU LAC, WI 2 $290,000 $145,000
NEW BERN, NC 1 $285,000 $285,000
ST. CLOUD, MN 1 $275,000 $275,000
TOPEKA, KS 3 $275,000 $91,667
AUBURN-OPELIKA, AL 1 $275,000 $275,000
MEDFORD, OR 1 $275,000 $275,000
FORT SMITH, AR-OK 3 $275,000 $91,667
NEW ORLEANS-METAIRIE, LA 1 $265,000 $265,000
LAKE HAVASU CITY-KINGMAN, AZ 1 $265,000 $265,000
KINGSPORT-BRISTOL, TN-VA 2 $250,000 $125,000
CARBONDALE-MARION, IL 2 $240,000 $120,000
ANN ARBOR, MI 1 $235,000 $235,000
GAINESVILLE, FL 1 $225,000 $225,000
BATON ROUGE, LA 1 $225,000 $225,000
WARNER ROBINS, GA 1 $215,000 $215,000
GARY, IN 2 $210,000 $105,000
CHAMPAIGN-URBANA, IL 1 $205,000 $205,000
OMAHA-COUNCIL BLUFFS, NE-IA 1 $205,000 $205,000
WALLA WALLA, WA 1 $205,000 $205,000
MIDLAND, TX 1 $195,000 $195,000
CHAMBERSBURG-WAYNESBORO, PA 1 $195,000 $195,000
CHARLESTON-NORTH CHARLESTON, SC 1 $195,000 $195,000
ABILENE, TX 2 $190,000 $95,000
LINCOLN, NE 1 $185,000 $185,000
COLUMBIA, SC 1 $185,000 $185,000
FLORENCE, SC 1 $185,000 $185,000
FORT WAYNE, IN 1 $175,000 $175,000
MONTGOMERY, AL 1 $165,000 $165,000
MONROE, MI 1 $165,000 $165,000
MACON-BIBB COUNTY, GA 1 $165,000 $165,000
BRUNSWICK, GA 1 $155,000 $155,000
EAU CLAIRE, WI 1 $145,000 $145,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $145,000 $145,000
SHEBOYGAN, WI 1 $115,000 $115,000
BROWNSVILLE-HARLINGEN, TX 1 $115,000 $115,000
PHILADELPHIA, PA 1 $115,000 $115,000
GULFPORT-BILOXI, MS 1 $105,000 $105,000
FAYETTEVILLE, NC 1 $105,000 $105,000
ASHEVILLE, NC 1 $105,000 $105,000
ROCKFORD, IL 1 $85,000 $85,000
AKRON, OH 1 $75,000 $75,000
HATTIESBURG, MS 1 $75,000 $75,000
FLINT, MI 1 $65,000 $65,000
PEORIA, IL 1 $45,000 $45,000
BATTLE CREEK, MI 1 $45,000 $45,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
2.5-3% 32 $8,180,000 $255,625
3-4% 3,826 $902,050,000 $235,768
4-5% 6,509 $1,250,215,000 $192,075
5-6% 1,646 $259,030,000 $157,369
6-7% 43 $11,745,000 $273,140
7-8% 24 $3,140,000 $130,833
Over 8% 21 $3,965,000 $188,810

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,827 $140,015,000 $76,637
$100k-200k 5,571 $831,015,000 $149,168
$200k-400k 4,009 $1,082,405,000 $269,994
$400k-600k 627 $290,725,000 $463,676
$600k-1000k 114 $85,750,000 $752,193
$Over $1MM 16 $20,460,000 $1,278,750

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 145 $21,935,000 $151,276
40-60% 463 $94,525,000 $204,158
60-80% 2,439 $566,045,000 $232,081
80-100% 8,638 $1,655,910,000 $191,701
Over 100% 454 $110,280,000 $242,907
Under 20% 25 $1,675,000 $67,000

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,969 $522,875,000 $265,554
$150k-250k 939 $313,075,000 $333,413
$50k-75k 3,436 $585,860,000 $170,506
$50k-or less 3,470 $450,940,000 $129,954
$75k-100k 1,994 $426,330,000 $213,806
$Over $250k 340 $147,340,000 $433,353

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 9,683 $1,944,175,000 $200,782
Not provided 1,546 $317,930,000 $205,647
Black 615 $108,305,000 $176,106
Asian 248 $64,240,000 $259,032
American Indian 60 $12,680,000 $211,333
Native Hawaiian 10 $2,820,000 $282,000
Korean 1 $165,000 $165,000
Asian Indian 1 $55,000 $55,000

Approval Rates

Total approvals of all applications
97.91%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
71.46%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $395,000 $395,000
10305.32 1 $685,000 $685,000
3825.06 1 $275,000 $275,000
NA 12,161 $2,449,015,000 $201,383

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,171 $257,265,000 $219,697
$1k-2k 8,331 $1,619,455,000 $194,389
$2k-3k 1,395 $245,365,000 $175,889
$3k-4k 821 $190,085,000 $231,529
$5k+ 299 $109,295,000 $365,535

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 271 $32,145,000 $118,616
Single Family (1-4 Units):Site-Built 11,893 $2,418,225,000 $203,332