Consumer Direct to Buy Mortgage Bank

Consumer Direct of America, Las Vegas, has announced an agreement to acquire the approximately $1 million in operating assets of Consulting Services LLC, Atlanta, including its mortgage banking operations.Consumer Direct, a consolidator in the mortgage brokerage industry, said the agreement would bring it approximately 120 debt consolidation loans per month and a direct-mail center, as well as the mortgage banking operation. "We intend to integrate the debt consolidation products into our outbound call center platform," said Michael A. Barron, chief executive officer of Consumer Direct. "By adding the debt consolidation portfolio of products, we hedge our mortgage business against cyclical fluctuations in the industry.... With Atlanta in place now, we can begin to open up the Eastern Seaboard for potential acquisitions of mortgage brokerage companies." The company can be found on the Web at http://www.cdofamerica.com.