Consumer Direct Lending wins Banking Agreement with IMPAC.LAS VEGAS, Nev. -- Consumer Direct Lending (CDL 1. CDL - Computer Definition anguage. A hardware description language. "Computer Organisation and Microprogramming", Yaohan Chu, P-H 1970. 2. CDL - Command Definition Language. Portion of ICES used to implement commands. Sammet 1969, p.618-620. 3. ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Consumer Direct of America www.cdofamerica.com (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CSUA CSUA Computer Science Undergraduate Association CSUA Canadian Satellite Users Association ) announced today that it has been approved by IMPAC IMPAC International Merchant Purchase Authorization Card IMPAC Intersegmental Major Preparation Articulated Curriculum IMPAC Information for Management, Planning, Analysis, and Coordination (National Institutes of Health) Funding Corporation (NYSE NYSE See: New York Stock Exchange :IMH) as a correspondent seller of residential mortgages. "We are pleased that our mortgage group has been approved by IMPAC" states Michael Barron, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Consumer Direct of America, CDL's parent. " The IMPAC product line will occupy a special niche for our borrowers and we look forward to a long relationship with them" IMPAC provides CDL with an Alt A based product as well as advanced technology in underwriting and loan administration. Over 50% of CDL's $1.1 billion in closed loan volume for 2004 was based in the Alt A and Sub Prime markets which IMPAC specializes in. About Consumer Direct of America Consumer Direct of America (OTCBB:CSUA) is a fast-growing provider of residential mortgages. It employs over 300 people, 250 of whom are residential mortgage real estate brokerage professionals who have closed loan volume of over $1 billion for the year ended December 31, 2004. Consumer Direct operates 54,000 sq. ft. of telesales and branch office space. The company operates over 40 branch locations in 34 states. Emerging as a national leader in mortgage banking/ brokerage and ancillary services, the company plans to double its retail branch network across the United States to 100 branches by the end of 2005. The company's core competence in direct-to-consumer marketing technologies and methods results in efficiency rates that are up to 150 percent higher than industry averages. Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected results and market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements. |
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