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Expert Group, Inc.: Big Banks Show Huge Profit, Possible End of Recession Nearing; What This Means to Expert Financing
* Press Release
* Source: Expert Group
* On Friday July 17, 2009, 10:00 am EDT
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Expert Group, Inc. (Pinksheets:EXPU - News) -- Many analyst are predicting that the recession will end by year end 2009. With The Big Banks like Goldman Sachs and JP Morgan posting huge profits and the Federal Housing Authority (FHA) approving many more loans, can this be the beginning of lending made easier?
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U.S. mortgage rates dropped for a third consecutive week, reaching their lowest since late May, and a move that bodes well for the hard-hit housing market.
Interest rates on U.S. 30-year fixed-rate mortgages dropped to 5.14 percent for the week ending July 16, down from the previous week's 5.20 percent, according to a survey released on Thursday by home funding company Freddie Mac.
That is the lowest since the week ended May 28, but significantly higher than the record low of 4.78 percent set the week ending April 2. Freddie Mac started the Primary Mortgage Market Survey in 1971.
The drop in rates is a positive for the U.S. housing market, which has been showing some signs of stabilization, with sales rising and home price declines moderating in many regions of the country.
"There were sixty seven thousand Mortgage brokers in the state of Florida in 2007; that number shrank to fifty five thousand in 2008 and is now seeing a respectable increase. Expert Financing continues to hire and train Mortgage Bankers in Florida. We are presently negotiating and looking to expand into a new location in the very near future. We just plain and simply need more room for our originators," states Robert Rico, C.E.O., Expert Group, Inc.
Our Plan
Our plan is to expand our services by opening multiple locations primarily in Miami-Dade County and North Carolina; these locations will be a community bank type of storefront in highly populated areas. We plan to open 4 new locations and expand to over 400 originators in the short term. Expert Group, Inc.'s long term goal is to become a National Mortgage Lender. In today's market place there is a great environment to create an infrastructure to be the leader in retail mortgage lending, taking the opportunity created by the government's assistance to banks with funds to make loans more readily available. Expert is working on creating the proper scenario to brand it self as the "go-to firm for all your real Estate lending needs."
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.
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:
Contact:
Expert Group, Inc.
www.ExpertFinancing.net
www.ExpertCreditFixUSA.com
or call:
305-949-LOAN (5626)
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