LAS VEGAS, Oct. 25, 2005 (PRIMEZONE) -- Consumer Direct of America (OTCBB:CSUA) (CDA), a financial services holding company, today announced that its subsidiary, Shearson Home Loans, a fast growing mortgage banker/broker, has signed exclusive lender agreements with several developers of Hi-Rise Condo projects in Las Vegas and Arizona. The agreements call for Shearson Home Loans to be the exclusive mortgage financing company for several different projects totaling over 4,000 units located on the Las Vegas "Strip" as well as projects in Arizona.
Chairman & CEO Michael A. Barron said, "We are pleased to have been selected to be the exclusive mortgage lender for several of Las Vegas's finest Hi-Rise Condo developers. These projects represent in excess of $1 billion in mortgage loan opportunities for our company over the next three years. We are proud we have been recognized as a leader in this type of financing."
About Consumer Direct of America
Consumer Direct of America (OTCBB:CSUA) is a holding company for Shearson Home Loans, a fast-growing provider of residential mortgages. It employs over 300 people, 250 of whom are residential mortgage real estate brokerage professionals who had closed-loan volume of $1.1 billion, which accounted for over 6,435 loan transactions in 2004. Shearson operates 54,000 sq. ft. of branch office space with 37 locations in 30 states. The company is a consolidator of independent mortgage brokerages and has grown rapidly during the last three years through acquisition and consolidation. The company currently is seeking new branches for its growing network. For more information, please visit the company's website at www.shearsonhomeloans.com.