Consumer Direct of America Adds Title Insurance Operations
|January 29, 2004|
LAS VEGAS--(BUSINESS WIRE)-- -Consumer Direct of America (www.cdofamerica.com) (OTCBB:CDIT) announced that it has finished 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 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.
Soure: Consumer Direct of America Inc.