Consumer Direct of America Loan Pipeline Grows to $185 Million in February.Business Editors LAS VEGAS--(BUSINESS WIRE)--Feb. 17, 2004 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 ) today announced that its wholly owned mortgage subsidiaries, Pro Mortgage and Consumer Direct Lending have originated mortgage loans totaling in excess of $185 million in the first quarter this year for the company. The open pipeline represents $4.7 million in potential revenue and $1.7 million in potential gross margin for the quarter. The company has historically closed in excess of 50% of its open pipeline every sixty days. "The open pipeline is a forward view indicating just how well we are doing," stated Michael Barron Michael “Mickey” Barron (born 22 December,1974 in Chester le Street) is a professional footballer who currently plays for Hartlepool United in League One. Micky Barron started his career at Middlesbrough. , CDA's Chairman and 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. . "This robust growth shows that we are taking our share of the growing mortgage market. We do not expect to close every loan in the pipeline, but our effort so far indicates we should have a good first quarter." The two mortgage divisions of Consumer Direct of America (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. ) make up the Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Group of CDA and employ over 250 people. The company operates seven branch offices in Southern Nevada, Northern and 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, , Atlanta, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , and Colorado and plans to expand its mortgage system across the Western U.S. this year through acquisition of independent mortgage brokerage companies. About Consumer Direct of America Inc. Consumer Direct of America (NASDAQ-OTCBB:CSUA) is a leading consolidator of the growing mortgage brokerage business. The company currently employs over 350 people, 250 of which are residential mortgage real estate brokerage professionals who have closed loan volume of over $815 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 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 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." 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. |
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