Newsroom

2/20/2004
MILA, INC. CEO LAYNE SAPP TAPPED TO PRESENT AT PRESTIGIOUS FINANCE LEADERS SUMMIT

MOUNTLAKE TERRRACE, WA – Layne Sapp, founder and CEO of wholesale lender MILA, Inc., will serve as a panel discussion leader at the Royal Media Group’s Third Annual Subprime Summit, to be held February 22-24 at the Hilton La Jolla Torrey Pines in La Jolla, CA.

The Summit draws the top nonconforming lending professionals from around the country in a “meeting of the minds” to discuss improvements, trends and the future of nonconforming lending. Sapp will sit on a panel discussion with other industry leaders, including Sam Cooper of Chase Home Equity, N. Mitchell Feinstein of Budget Finance, Ray McKewon of Accredited Home Lenders, and Neil Notkin of Aegis.

The focus of this year’s Summit is how the nonconforming market will fare with potentially less loan volume, greater predatory lending issues and rising interest rates in 2004. And while most of the Summit leaders predict harder times ahead, MILA’s Sapp has a different, and more positive, approach to the future.

“ Rather than worry about what the future may hold in terms of pricing compression, competition and where non-prime might be moving – all things we can’t control – MILA has opted to manage its own business by communicating effectively with our brokers, moving information through our organization to eliminate touches and minimize the time associated with closing a loan,” explains Sapp. “In the end, it’s the lender who can control costs and produce product at a lower price that can compress their pricing and drive revenue. Other lenders worry about costs, at MILA, we manage them.”

Sapp’s plans to keep MILA successful through 2004 directly translates into increased efficiencies and greater profitability for brokers doing business with the company – regardless of increased rates or a decrease in the refinance business.
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At MILA our brokers consider us their business partner, not just another lender,” explains Sapp. “Based on how a lender does business, brokers can feel that the lender controls the lending process. At MILA, we give that control back to the broker. Our sales team profiles our brokers so that we understand their business and can offer ways to help them tap into new markets; our automated underwriting system is one of the fastest, most robust and easiest to use in the industry allowing our brokers to process more loans faster; and at every point in the loan process we communicate with the broker in real time through our loan management system, AccessPoint, which translates into better customer service for the borrower.”

Sapp will share MILA’s business philosophies and success at the “Outlook and Opportunities” session Monday, February 23 at 1-:30 a.m. during the Subprime Summit.

For more information on MILA’s loan management system, AccessPoint, click here.
For more information on MILA’s automated underwriting system, DecisionPoint, click here.
For more information on MILA, visit us at www.mila.com.
For information on the Subprime Summit, click here.

MILA, Inc. is a wholesale lender serving the non-prime residential mortgage industry. AccessPoint and DecisionPoint are exclusive to MILA and are registered names of the company.