Consumer Direct of America Adds Title Insurance Operations.Business Editors LAS VEGAS--(BUSINESS WIRE)--Jan. 29, 2004 Consumer Direct of America www.cdofamerica.com (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :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 ) announced today that it has consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. its plan to open its own Real Estate Title Insurance subsidiary in Atlanta, Georgia. The plan gives Consumer Direct of America a fully functional title insurance operation and will provide title insurance services to CDIT's mortgage branch system. The title operations will be headquartered out of the Company's Atlanta banking office. The title operations allow CDIT to insure its mortgage loans thus adding an additional revenue stream of 1% to 2% on CDIT's existing $815 million in annual production. Production revenue for the title insurance unit is expected to reach $7 million during 2004. "We intend to integrate the title insurance products into our branch production operations during 2004," 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 title insurance products, we add a much greater level of control to the closings of our loans," said Barron. About Consumer Direct of America Inc. Consumer Direct of America(OTCBB:CDIT) is a leading consolidator of the growing mortgage brokerage business. The company currently employs over 350 people, 240 of which are residential mortgage real estate brokerage professionals who have closed loan volume of over $630 million and $50 million in real estate sales for the year ended Dec. 31, 2003. Consumer Direct operates a total of 54,000 sq. ft. of telesales telesales Noun the selling of a commodity or service by telephone telesales npl → televentas fpl telesales npl → and branch office space. Emerging as a national leader in mortgage brokerage and ancillary services, the company plans to have 10 regional hubs across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. by the end of 2004. The company's core competence Core competence Primary area of expertise. Narrowly defined fields or tasks at which a company or business excels. Primary areas of specialty. in direct-to-consumer marketing technologies and methods results in efficiency rates that are up to 150 percent higher than industry averages. Consumer Direct also leverages its direct marketing expertise to provide third-party direct marketing services to clients. For more information please visit the company's Web site at www.cdofamerica.com Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected market size are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ." 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 from expected results. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion