MOUNTLAKE TERRACE, Wash. - Sept 6, 2006 - August was a big month for MILA as its innovation, growth and business acumen was recognized by numerous organizations including Inc. magazine, Deloitte & Touche, National Mortgage News, Puget Sound Business Journal and South Snohomish County Chamber of Commerce.
"This has been a tremendous year for MILA," explained Layne Sapp, founder and CEO. "Our associates have truly stepped up their game in today's challenging climate as we launch new technologies, expand into conforming markets and add new states to our portfolio. This whirlwind of recognition has been great affirmation for all of us."
The e-commerce wholesale lender started the month with the news that it had been named one of the Top 20 Mortgage Firms to Keep an Eye On by the leading trade weekly, National Mortgage News . Soon after, Deloitte and Touche confirmed that MILA was for the second consecutive year one of the Top 50 Fastest Growing Technology companies in the Northwest. MILA's growth was also recognized for the second year in a row by the prestigious Inc. 500 list and Puget Sound Business Journal's Fastest Growing Private Companies list. And to cap off the month's accomplishments, MILA will be honored by the local chamber of commerce as a Business of Excellence.
The 22-year old wholesale mortgage lender headquartered in Mountlake Terrace credits its success in a declining market to its entrepreneurial spirit. Recognizing the challenging profitability of today's margins in non-prime mortgages, the lender flexed all of its tech muscle to launch first Alt-A and soon conforming loans. At the start of the year, nearly all of MILA's loans were non-prime. Today only 30 percent are non-prime. At the same time, MILA has aggressively expanded its geographic reach 27 percent to include more of the growing southeastern market for a total of 33 states. All of this was accompanied by innovative technology enhancements to the lenders online loan decisioning and management system, AccessPoint, that included online training, co-browsing, chat and a unified helpdesk.
"To see how far we've come this year, especially in comparison to the rocketing growth we've experienced over the past five years of record mortgage transactions, is truly humbling," added Sapp. "The dedication of our associates to turn on a dime to make these dreams a reality in whatever market deserves every bit of recognition we're now seeing."
In addition to MILA's August acknowledgements, the lender also this year was recognized by the International Women in Communications for its internal communications with a Clarion Award, the Better Business Bureau Innovation Award and was also named a finalist in the American Business Association Stevie Awards.
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 33 states with a broad range of 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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