Consumer Direct of America Sets Revenue & Loan Volume Record for November 2003.Business Editors LAS VEGAS--(BUSINESS WIRE)--Dec. 17, 2003 Consumer Direct of America (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 its 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. , CD Lending of 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. , has set a year-to-date revenue and loan volume record for the company. CD Lending and its six regional operating branch offices have closed loan volume of $600 million and combined consolidated revenue of $14.8 million for the eleven months ended Nov. 30, 2003. The performance figures represent an increase of over 60 percent growth in both loan volume and revenue, as compared to the same period of the prior year. CD Lending operates six branch offices and has over 180 loan officers located in southern Nevada, California, Colorado and Utah. "This strong growth in our home equity business demonstrates that we're making very good progress in executing our expansion strategy," said 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. , 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 parent Consumer Direct of America. "Our growth is right on track for 2002 and we are excited about our prospects as we head into the new year." "These latest performance figures underscore why CD Lending is the largest mortgage broker in the state of Nevada, as we hope to soon become one of the nation's top mortgage bankers," added Barron. "We look forward to reaching our goal of closing over $75 million in loan volume per month by December." About Consumer Direct of America Inc. Consumer Direct of America 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 $330 million and $50 million in real estate sales for the year ended Dec. 31, 2002. Consumer Direct operates a total of 34,000 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 20 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." 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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