Consumer Direct of America Acquires Insurance and FHA Mortgage Arm.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Dec. 9, 2002 Consumer Direct of America, www.cdofamerica.com, (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CDIT CDIT Career Development Training Institute CDIT Cross Development Integration Team (Navy) CDIT Channel Distribution Information at the Transmitter CDIT California Office of Information Technology CDIT Clinton Did It Too ) today announced that it has entered into an agreement to acquire Neighborhood Acceptance Corp. (NAC See network access control. ) and its subsidiary companies, Neighborhood Mortgage and Neighborhood Insurance Services; www.naclife.com. The acquisition gives Consumer Direct a fully developed foothold into the insurance industry with the capability to offer homeowners, life, casualty, auto, and fire insurance products directly to CDA (1) (Compact Disc Audio) The compact disc file extension that is seen on the computer in Explorer or some other file manager. CDA files are actually pointers to the locations of the individual tracks on the CD medium. See CD-DA. customers. "We intend to integrate the products available from NAC into our outbound call center platform as well as make these products available to our over 200 field loan officers," stated Michael A. 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. "By adding the insurance portfolio of products available via NAC, we greatly expand our profit margins and offer our customers a broader base of services they can use." NAC also is approved with FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). as a mortgage lender and has a strong presence in the Hispanic market in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . CDA intends to expand its FHA capabilities to its other branches with the NAC operations as a hub for expanding CDA's California presence. NAC is a licensed insurance agent for numerous insurance products. About Consumer Direct of America Inc. The company owns and operates business units in two core competencies: -- Financial Services Group -- CD Lending -- National mortgage call center platform -- Las Vegas Mortgage -- Net Branch operations -- Las Vegas Real Estate -- Real Estate Company -- Direct Marketing Group -- Telco Marketing -- B2B local & long distance telephone services -- Membership Services % HomeAdvantage -- Homeowners membership club % St. Andrews International Golf Association -- Golfers membership club The company's operating companies are linked to its national marketing centers, housing state-of-the-art phone and computer systems, which provide the company with the ability to operate numerous marketing campaigns for its products and customers -- inbound, outbound and broadcast. The company captures and tracks consumer data, producing real-time reports for effective analysis, modifications and redirecting towards other products and services offered by CDA or which its clients may have an interest or need. The company operates a 13,000 sq. ft. telesales call center in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , a 3,500 sq. ft. branch in Irvine, a 3,000 sq. ft. branch in Denver, a 7,000 sq ft. mortgage processing center in Las Vegas and has seven branch mortgage locations. The company employs more than 350 people. |
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