Expert Group is a mortgage brokerage company focused on providing loan origination, loan refinancing, and title as well as escrow services to real estate professionals, builders and individual homebuyers. The Company also helps homebuyers consolidate their debt and lower their monthly payments.
The Company’s main targeted region is Florida, which has a population of 18.1 million and increasing by approximately 962 new residents every day. Expert Group particularly focuses on the Miami-Dade and Broward County housing markets, where home ownership rates average 58% and 69.5%, respectively, and where a substantial underserved market exist.
Expert Group’s President, Shirley Rico – a licensed mortgage broker – is utilizing her established relationships with leading financial institutions such as FannieMae, FredieMac, Washington Mutual Bank, Bank United, Chase, Wells Fargo, Country Wide, CitiMortgae, ABN Amro, National City, IndyMac Bank, World Savings and Banco Popular to expand the Company’s lending sources.
The analyst who completed the report stated in summary, “The Company anticipates 2007 revenues of approximately $0.5 million which will enable it to achieve breakeven. In 2008, the rollout of pre-paid credit cards and credit repair and lending services are likely to fuel growth in revenues to $1.5 million. Management plans to add at least $1 million to annual revenues over the next five years, suggesting 2012 revenues in a $5.5 million range. Taking into consideration EXPT’s new products, specialized focus and strong lending sources, we are initiating coverage of Expert Group with a Speculative Buy rating and a $0.35 price target.”
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