MOUNTLAKE TERRACE, Wash. – October 10, 2005 – In a region known for its high-tech innovations with Microsoft, Amazon and other tech leaders in its back yard, Mortgage Investment Lending Associates (MILA) has managed to do what no one else in its industry has been able to do: gain third-party recognition for its tech muscle.
MILA Inc. is the only mortgage lender to have developed a proprietary online program that allows brokers instant automated underwriting and real-time loan management tools 24 hours-a-day, 7 days-a-week. Named AccessPoint, this breakthrough technology has been instrumental in the company’s recent growth which, since the product’s introduction in 2002, has added 500 new employees with another 800 expected by the end of 2006. Add to that unprecedented revenue growth that is expected to increase from $3.5 billion in 2004 to $5 billion in 2005 and it is clear that technology has become an integral part of the company’s success.
“We are thrilled to be recognized by our efforts to utilize technology to provide a seamless loan process,” explained Layne Sapp, founder and CEO of the 23 year-old company. “While we knew at its launch that the broker community would appreciate AccessPoint’s unprecedented management tools, our greatest reward is in seeing just how big of an impact it has had. Instead of spending hours playing phone tag with lenders, our brokers are able to focus on building their business.”
Winners of the Deloitte & Touche Washington State Technology Fast 50 are selected based on percentage revenue growth during the five years from 2000 – 2004. To be considered, Technology Fast 50 entrants must: have operating revenues of at least $50,000 in 2000 and at least $1,000,000 in 2004; be headquartered in Washington; be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of its operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded.
About MILA Inc.
MILA, Inc. is one of the fastest-growing e-commerce mortgage solution providers in the nation currently serving the wholesale residential market in 26 states with a broad range of alternative mortgage lending products. Financial strength, management stability, and proprietary, cutting-edge technology give MILA the ability to meet the challenges of the ever-changing mortgage lending market and to anticipate market trends. For more information visit www.mila.com. |
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