EXPU Cup with handle pattern forming
Expert Group Originates Record $111.7 Million in August and Projects $20 Million Revenues
Date : 09/10/2009 @ 9:00AM
Source : MarketWire
Stock : Expert Group (EXPU)
Quote : 0.06 -0.003 (-4.76%) @ 3:56PM
Expert Group Originates Record $111.7 Million in August and Projects $20 Million Revenues
MIAMI, FL -- (Marketwire) -- 09/10/09 -- Expert Group, Inc. (PINKSHEETS: EXPU) is pleased to announce that the company has achieved over $111.7 million dollars in Origination for the month of August 2009.
CEO Robert Rico stated: "This is a huge increase over our $12.5M in origination for July. This increase was driven by the opening of our new Aventura Mall location as well a major deal originated through our commercial division. This is by far the biggest origination month the company has ever had. We will have a report on specific profit numbers sometime later this month."
Expert Group is fully committed to branding "Expert Group" as a household name for all residential and commercial lending needs. We continue to expand in high visibility locations and secure more originators to reach this goal.
Robert Rico continued: "Now that we have several years' worth of revenue under our belt, we have enough data to make educated revenue projections.
These numbers are based on what we are currently realizing with the number of originators active now."
"Expert Group projects that by year's end we will have our 3rd location open and have a total of 100 originators operating. With 100 originators we conservatively project that we will close 100 loans per month. As I have stated before, Expert Group realizes between $4,000-6,000 in revenue per closed loan. Using the mean figure of $5,000 per loan, we project $5 million dollars in annual revenue when operating with 3 locations and 100 originators."
In 2010, Expert Group plans to add an additional 3 locations (one location every four months). This will bring Expert's total number of originators to 250. Operating at this capacity Expert projects $12.5M in annual revenues.
By mid 2011, Expert plans to operate at full capacity with 400 originators at 9 different locations. When operating with this number of originators Expert Group will realize $20,000,000 in annual revenues.
Robert Rico continued: "We are experiencing tremendous growth and we are growing responsibly. Please note that these estimates do not include jumbo loans and loans from our commercial division. These revenue estimates are purposefully conservative in order to give real investors an idea of the value of our company."
About Expert Group, Inc.
Expert Group, Inc. markets a variety of financial products and services through Expert Financing & Investments, Expert Group Title Services and Expert Credit Fix U.S.A. Expert is licensed by the Department of Financial Regulations and a member of FAMB, and FHA approved Lender.
About Expert Financing:
Expert financing offers up-to-date loan programs tailored to all borrowers' needs, specializing in Fannie Mae, Freddie Mac, FHA, conventional and non-conventional loans of all sizes. An Expert Loan Officer can help you find the best Loan for your needs, and our professional loan experts speak your language, including, Spanish, Russian, Portuguese, French, Italian, Hebrew and Creole.
Expert financing has been originating conventional and government loans since its inception. The company started as a retail firm providing millions of dollars in real estate loans to all types of borrowers including domestic and foreign nationals for all kinds of properties including condominiums, single family residences, town houses, commercial buildings like hotels, strip mall, gas station, restaurants, warehouses, industrial facilities and day care to name a few. Expert has also assisted in loans for luxurious projects like the Icon Brickell, Aventura Marina, Williams Island, and the Continuum in South Beach, Aqualina and The Trump in Sunny Isles Beach.
About Expert Credit Fix U.S.A.
Expert Credit Fix U.S.A is ahead of the game, assisting borrowers with less than perfect credit to fulfill their dream of home ownership. Expert Credit Fix U.S.A. will help borrowers restore their credit to a level where lenders will grant them credit and at a low interest rate.
Certain statements in this release and the attached corporate profile that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (I) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
Contact:
Expert Group, Inc.
www.ExpertFinancing.net
www.ExpertCreditFixUSA.com
or call:
305-949-LOAN (5626)
