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Newsroom
Press Releases
05/06/2004
MILA, INC. ENHANCES JUMBO LOAN OFFERING
NEW PROGRAM CONTINUES
TO HELP MAKE HOME BUYING A REALITY
MOUNTLAKE TERRRACE, WA – MILA, Inc.,
the wholesale non-prime lender also doing business as Mortgage Investment
Lending Associates, today announced the addition of
a jumbo loan program to supplement its current suite of residential loan
products. MILA’s jumbo loan will be available to qualified borrowers
for up to $1,000,000 on May 6, 2004 in 13 states. Brokers may access
this program through DecisionPoint, MILA’s instant automated underwriting
system.
MILA’s jumbo loan program, designed for first mortgages,
is an enhancement from MILA’s standard first mortgage loan maximum
of $650,000. The new loan limits are full document up to $1M and stated
up to $650,000.
“MILA jumbo loan program offers affordable rates to help address the
ongoing increase of housing costs,” said Layne Sapp, MILA CEO. “MILA
prides itself in providing a variety of loan products to fit almost every
home buyer’s need and make owning a home a reality.”
Located
in one rate sheet, MILA’s jumbo loans are available in Arizona,
California, Colorado, Illinois, Michigan, Minnesota, Missouri, Nevada,
Ohio, Oregon, Texas, Utah and Washington. If the state applies, the rate
sheet
can be found behind the standard rate sheets at located in “Today’s
Rates” at www.mila.com.
About MILA, Inc.
MILA, Inc., one of fastest growing mortgage companies
in the nation, offers a broad range of alternative mortgage-lending products
in 26 states.
The company’s commitment to borrowers has enabled MILA to rank
among the top wholesale lenders in the country for more than 15 years.
Stability, financial strength and the successful implementation of business
strategies give MILA the ability to meet the challenges of the ever-changing
mortgage lending markets and to anticipate market trends.
With substantial
investments in evolving technology, MILA maintains solid, strategic relationships
through services and support that our business
partners can rely on. Using MILA’s AccessPoint, approved brokers
and correspondents are able to quickly and easily track the movement
of loans 24-hours a day.
Contact: Michelle Homes
Michelle.Homes@mila.com
425.275.0800
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