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F3 Technologies Installs Interaction Community Systems in 420 UnitAssociation
Mar 9, 2009 09:01:10 (ET)
ALPHARETTA, GA, Mar 09, 2009 (MARKET WIRE via COMTEX) -- F3 Technologies, Inc. (PINKSHEETS: FTCH) is pleased to announce that the Company is currently installing its Interaction Community System software for Winston Towers 400 in Miami. Winston Towers is a 420 unit home owners association.
This is the second installment of a community managed by Double Click Management which was arranged through the licensing agreement between F3 Technologies and Expert Group Inc. (PINKSHEETS: EXPU).
Frank Connor, Chairman and CEO of F3 Technologies, stated, "This second installment for Double Click Companies is very significant for F3 because it is a direct reflection of the success of our first installment of one of their communities." F3's business model is to go directly to management companies which are contracted with several hundred communities. He added, "We believe that once the management companies see how great the Interaction Systems works for them and their communities it simply becomes a matter of time until all their communities are using the system."
About F3 Technologies, Inc.
F3 Technologies, Inc. (F3) is an Atlanta-based Software-as-a-Service development company and application service provider created to provide on demand internet solutions to consumers and small to mid-sized companies. F3 currently has three distinctive products: Fargotube.com, Ascend Global Systems and Interaction Community Systems. It is F3's goal to provide the necessary systems and tools to help its end user realize personal, professional, social, and business oriented goals.
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 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: F3 Technologies, Inc. ir*f3technologies.com James Canouse
SOURCE: F3 Technologies, Inc.
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Expert Group, Inc. (Expert – OTC: EXPU) KNOWS HOW TO BRING IN THE CLIENTS.
Everyone understands underwriting in the home mortgage business has gotten a little tougher. However, with historically low interest rates, low housing prices, and the IRS tax credit for first time home buyers (meaning non-homeowners in the last three years — credit reports sometimes need to be cleaned up. EXPU can save that loan and retain the client! They step in and clean up a client’s credit which in turn builds a strong one on one relationship with the client and generates GREAT word of mouth references.
This is a great example of finding a competitive advantage in your niche market!
Credit Repair with Home Loan as Goal
Expert Credit Fix U.S.A. works as a support system to prepare borrowers for the underwriting required to finance real property. This gives the Company a strong competitive advantage allowing borrowers with less than perfect credit to access the credit markets for the purpose of purchasing a home.
EXPU has a specific division to address this issue: Expert Credit Fix U.S.A. EXPU’s expertise in this area allows client to restore their credit to a level that lenders find acceptable and will grant credit at a low interest rate.
Company Contact: The Expert Group, Inc. 17501 Biscayne Blvd. Suite 5-E North Miami Beach, FL 33160 Telephone:305-949-LOAN (5626) Fax: 305-675-5788 info*expertfinancing.net Investor Relations David Elias 516-967-0205
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Expert Group Inc. (OTC: EXPU) Written by John Pentony on June 20, 2009
Introduction to Expert Group Inc. (OTC: EXPU)
Expert Group, Inc. (Expert) markets a variety of financial products and services through Expert Financing and 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 a FHA approved lender.
Expert 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.
The Company has benefitted from recent favorable tax credits designed to increase home ownership, recent low mortgage rates and the ability to help borrowers modify and improve their credit scores. These events have created a “perfect storm” for Expert – in the most positive sense!
MIAMI, FL–(June 21, 2009) – Expert Group, Inc. (O.T.C: EXPU) is proud to announce the appointment of its new Chairman, Jose F. Rosado, a real estate professional and investment advisor with over 35 years’ experience. Mr. Rosado is the CEO and founder of IBEX Institutional Advisors (IIA), a real estate investment advisory firm with an impressive client list including domestic and offshore investment groups, and US public pension funds. Mr. Rosado’s proven field of expertise is the creation and execution of contrarian or counter-cyclical investment programs through various previous real estate cycles – an experience particularly applicable to current market conditions. Mr. Rosado is also CEO and founder of IBEX Mountain Group, a second home and resort development company specializing in high-end mountain-related projects that have included The Village at Breckenridge in Breckenridge, Colorado, and the Great Camps of the Smokies in Western North Carolina.From 1989 to 1999 IIA was sector real estate advisor, under a separate account relationship, to the California Public Employees’ Retirement System (“CalPERS”), the largest pension fund in the US with current assets of approximately $175 billion. During this time, Mr. Rosado was CalPERS’ Counter-Cyclical Sector Advisor, developing and implementing an opportunistic investment strategy based on market timing and value-added strategic asset management. Throughout the 10-year relationship, IBEX consistently ranked among the top performing real estate advisors for CalPERS.In addition to CalPERS, Mr. Rosado’s clients/partners have included Bacardi Corp., BetaWest, and an investment fund made up of Princeton University, University of Pennsylvania, State of Washington PERS, and Virginia Retirement System. In 1988, IBEX organized and placed the IBEX International Fund, LTD, a contrarian “co-investment” seed fund for offshore real estate investors, acquiring properties in the major markets in Texas and Southeast Florida.Prior to founding the IBEX companies, Mr. Rosado was a partner, founder, and CEO of Shearson Properties International (“SPI”), the real estate investment banking division of Shearson American Express, specializing in offshore investments in the US, primarily from Latin America and Europe. This firm represented high net-worth offshore investors in their US real estate acquisitions and organized several syndications and co-mingled funds specifically structured for offshore investors.In 1976, prior to founding SPI, Mr. Rosado helped organize and was acquisitions manager for Florida Atlantic Investments (“FAI”), a co-mingled real estate fund made up of two Florida-based investment groups (Fanjul and Blanco), two Spanish banking groups (Fierro and March), and the trust department of the Chemical Bank. This fund was organized to acquire, asset manage and dispose of troubled assets from the REIT industry in the late 1970’s.Robert Rico, President of The Expert Group, states: “We are delighted to have Jose Rosado in the Chairman’s seat. Mr. Rosado’s particular expertise and contacts will bring our company an added dimension at a time of great opportunity in the real estate markets. I will remain as President of Expert Group. We are now restructuring our Board of Directors to bring in other real estate professionals of Mr. Rosado’s ilk and caliber. We welcome Mr. Rosado with great expectation and enthusiasm.’’ Business Plan
The Company’s business plan is to expand services by opening multiple locations primarily in Miami-Dade County and is looking at a second location there while working to license a North Carolina location. These locations will be a community bank type of storefront in densely populated areas. The Company anticipates it will open four new locations within the next 24 months and expand to over 400 originators.
Today’s market place is a excellent environment to create an infrastructure to create the opportunity for the Expert Group, Inc. to be the leader in retail mortgage lending. The opportunity created by the government’s assistance to banks with funds to make loans more readily available has opened the door for Expert Group, Inc. The Company is working to create the proper scenario to brand itself as the “go-to firm for all your Real Estate lending needs.”
Market Forces Support Business Model
Recent IRS modifications to the United States Tax Code regarding down payment incentives for first time homeowners have enhanced Expert’s business model. This modification provides a tax CREDIT of ten percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately. The credit can be utilized as down payment or closing costs at closing, simply with Expert.
The Internal Revenue Service recently announced that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit for use immediately using the IRS tax form 5405. The revised version of Form 5405, First-Time Homebuyer Credit can be found on the IRS website.
This important revision incorporates provisions from the American Recovery and Reinvestment Act of 2009. First-time homebuyers are defined as those persons together with their spouse if married that did not own a home during the three-year period ending on the date of purchase.
May 2009 Loan Activity Up
Recent lending activity has indicated that the Expert Group’s business plan is on target. The Company generated over $4.7 million dollars in originations for the month of May 2009, with a net income of approximately $100,000.00.
New Office Location in North Carolina
A second location in Robbinsville, North Carolina, will open once state licensing is completed. The Company’s offices will be located on 90 Old Lodge Road Lake Santeetlah, North Carolina 28771 in Graham County.
North Carolina is ranked as the #1 relocation destination for Americans and is a major market for first time buyers. Florida is a major second home state for Floridians. The Company believes its connections in Graham County which include the largest developers in the county will provide us with a niche into this region of the United States. It also gives us the license to
Successful Recruitment of Originators
The Company’s marketing efforts to be the “Premier Mortgage Broker” in the Southeast has been enhanced through current television campaigns.
The effects of low mortgage rates, reduced real estate prices, and the $8,000.00 tax credit has fueled rapid growth in the mortgage industry. Expert Group Inc. is handling a record number of refinances and first time home purchases. Becoming an FHA approved lender has allowed Expert to bring a full complement of mortgage programs to the community. Expert has hired seven new originators for a total of 47 with a goal of 400 originators over the next 24 months.
The Expert Group has made a remarkable start as interest rates hit their lowest point in decades. It is built a solid foundation from which to participate in the economic recovery. Clearly, there are opportunities in the housing market that may never been seen again in the lifetime of many purchasers.
Expert delivers the COMPLETE package. Credit repair opens the door for many buyers. Tax credits serve as the buyer’s down payment. Interest rates and housing prices are at a remarkable low providing the crucial entry point and EXPERT is READY with loan originators in place with money to lend and the expertise to manage growth.
Credit Repair with Home Loan as Goal
Expert Credit Fix U.S.A. works as a support system to prepare borrowers for the underwriting required to finance real property. This gives the Company a strong competitive advantage allowing borrowers with less than perfect credit to access the credit markets for the purpose of purchasing a home. Expert Credit Fix U.S.A. will help borrowers restore their credit to a level that lenders find acceptable and will grant credit at a low interest rate
Company Contact: The Expert Group, Inc. 17501 Biscayne Blvd. Suite 5-E North Miami Beach, FL 33160 Telephone:305-949-LOAN (5626) Fax: 305-675-5788 info*expertfinancing.net
Investor Relations David Elias 516-967-0205
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