MOUNTLAKE TERRACE , Wash. - October 12, 2006 - After introducing Alt-A loans in the spring of 2006, MILA today announced the addition of a new suite of Conforming products. The full-gamut of loans offered by MILA makes it one of the only e-commerce lenders to provide online loan decisions for any loan type through a single online platform.
"We've entered into a new era at MILA," explained Layne Sapp, founder and CEO of MILA. "Associates and management have poured a lot of sweat into being able to offer a breadth of loan options to our brokers and we are thrilled to finally have crossed the finish line to be a truly all-encompassing wholesale lender."
MILA's roots are in the non-prime arena where it perfected its online loan management and decisioning system, AccessPoint. Building its technology around some of the most challenging loan scenarios on the market enabled MILA to construct what many have noted to be one of the industry's most robust automated underwriting and loan management systems.
Already MILA has made unprecedented progress into the Conforming and Alt-A markets with only 30 percent of its existing loan originations in the non-prime sector. With the majority of its loans today falling in the Alt-A space, MILA's conforming business is quickly taking root.
"It's truly amazing to see how quickly our brokers have jumped on the new products in both Alt-A and now our Conforming line," added Sapp. "The benefit of being able to see with one click a clear menu of Non-prime, Alt-A and Conforming loans available for a borrower is truly revolutionary and will empower brokers to consistently provide their borrowers with the best loan options available to them.
MILA was earlier this year named by National Mortgage News as one of the Top 20 Mortgage Firms to Keep an Eye On and its growth and innovation was recognized by the prestigious Inc 500 where the lender was ranked for the second year in a row.
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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