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Press Releases
9/27/2006
MILA, Inc. Unveils New Website
E-commerce lender site profiles recent advances; adds new broker education tools
MOUNTLAKE TERRACE , Wash. - September 27, 2006 - MILA Inc., one of the nation's leading e-commerce wholesale lenders, is excited to announce the launch of its robust new website www.mila.com today. Developed in large part in response to broker feedback on the loan process, MILA's new website includes technology, product and communication enhancements as well as a complete design and UI overhaul.
"This new website is a much better reflection of who we are," explained MILA's founder and CEO, Layne Sapp. "We've devoted the bulk of our resources over the past five years to the development of technology. This site reflects our identity as the high-tech company we've become."
In addition to simplifying the navigation, ensuring that information is no more than four clicks away, recent enhancements highlighted on the new site include:
Technology Enhancements
Unique in the industry, MILA's proprietary AccessPoint tech platform is designed to be a business management tool for brokers and small mortgage banks. With it, approved users can manage everything from marketing, product selection and rate locks to fraud prevention, settlement service fulfillment and document preparation.
Easy login features to AccessPoint are now included throughout the new site enabling brokers to better access its most valuable features including:
• Guaranteed underwriting commitments, complete with conditions, up front
• Ability to re-issue credit from more than 200 agencies
• AccessPoint can upload from any Loan Origination System (LOS) into its decisioning and management platform
• 24x7 real-time access to loan pipeline information
• All faxes and e-mails are time and date-stamped
• Reasons for condition issues are detailed, eliminating the guessing game for clearing docs
"Whenever we've added something new to AccessPoint over the years," Sapp added, "it's been new to the industry."
Product Enhancements
Another substantial feature of the new website is the addition of conforming rates. With more than 20 years in the non-conforming arena, MILA perfected its high-tech loan decisioning with some of the most challenging borrowers and products on the market. Having added Alt-A and conforming loans only this year, the company's non-conforming business now accounts for only 30 percent of its loan volume.
MILA is one of the only lenders to provide a single portal for its entire menu of loan products. A broker can simply compare and contrast the best rates and products across a spectrum of loan families on a single page.
"There is no one else out there that can match MILA's professional service," noted Steve Spencer, sales manager at Homefront Mortgage in Tustin , California . "We can't imagine working without them."
Communication
Unlike many technology focused companies, MILA has also worked hard to perfect its customer service, using its tech prowess often to pioneer communication tools. This includes Live Chat, Cobrowsing, as well as daily training Webinars on AccessPoint. Today, MILA's average response time to a query is four seconds.
The new website also includes a new communication feature that provides additional tools for brokers to use in communicating with their borrowers. Located in a newly highlighted Broker Resource section, these tools are designed to help brokers design and build their own sales materials based on MILA's unique product and technology offerings. It also includes ongoing education tools to help brokers stay on top of a rapidly evolving industry.
"MILA always accommodates my every need sooner than they promise, "explained Anthony Tillman of American Mortgage Funding, Inc. in Detroit , Michigan . "They always pick up the ball where it was left off. I always want to get my loans to MILA first."
Next Steps
MILA is already in the process of a national expansion, having grown its geographic reach nearly 30 percent since the start of 2006. Down the road, the company envisions creating an online experience that includes the Realtor and borrower, allowing the broker to control his loan communications with those parties.
"We are at a stage in our technology development," added Sapp, "where our capabilities exceed demand right now. It's a nice place to be where when the industry catches up to us, all we have to do is turn on a switch so that we can maintain our presence as a leader in developing the future of where the home mortgage business will go."
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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