In 2009, the average loan amount that Expert Group closed was $170,000 per loan. Expert Group earned revenues on average of $5,010 per loan, or 3% commission of the total loan amount. Expert Group averaged $2,040 net profit per loan, or 40% of the closing revenues.
Expert Group will be entering 2010 with $2.3M in new loans business and even more to come. Also, along with this Expert Group has another 25 new loans on deck that are at the D.U. stage or 'Desktop Underwriting' and have a high likelihood of closing.
Robert Rico stated: "The 2010 Budget Report is an explanation of what Expert Group's break even point is for any given month. Based on 2009 numbers, Expert Group only needs to close 10 loans per month in order to break even. We at Expert believe that we will far exceed 10 closed loans every month, however, our 'break even budget' is being made public so that investors can understand that moving forward now and into 2010 Expert Group is operating as a 100% profitable business entity. We are entering 2010 with 3 locations and an aggressive marketing strategy. This puts us in a wonderful position to experience massive growth in 2010.”
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About Expert Group, Inc.
Expert Group, Inc. markets a variety of financial products and services through Expert Financing & Investments; Expert is licensed by the Department of Financial Regulations and a member of FAMB, FHA and VA Lender.
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