MOUNTLAKE TERRACE , Wash. - December 5, 2006 MILA today announced the launch of its latest broker resource feature, Quick Quote. Designed in response to broker feedback, the Quick Quote is MILA's high-tech version of the industry's rate calculator. Available on the front end of the lender's AccessPoint decisioning and loan management tool, the Quick Quote gives brokers a short application to complete that in turn gives them a comprehensive list of programs and rates available for a potential borrower.
"When it became clear to us that the benchmark loan commitment upon which MILA has developed so much of its loyal broker-base was not answering all the needs of our brokers," explained MILA CEO, Layne Sapp, "we set to work on a way to answer those ‘what if' scenarios that brokers were currently phoning into our helpdesk."
With Quick Quote, eligible loan options are given up front with minimal data and estimated credit entered. Because credit is not pulled and a limited amount of information is collected to provide the Quick Quote, the final loan commitment in AccessPoint will not necessarily be the same as the Quick Quote. But it does give that broker a good snapshot from which to start discussing realistic loan options with his borrower.
Furthermore, while other lenders may have online rate quoting capability, loans are still ultimately underwritten manually. At MILA, Quick Quote is integrated into AccessPoint so that when brokers decide to get their loan from MILA, they can upload key fields in the Quick Quote information directly into an application in AccessPoint. In fact, the new Quick Quote interface will look quite familiar to MILA brokers as it displays the same loan menu and loan details format they are accustomed to with AccessPoint.
Broker-centric enhancements like the Quick Quote are central to MILA's current and future technology and product development strategies. In fact, the e-commerce lender has charged its development team to ensure all future projects answer the question:
How does this empower our brokers and help them make more money, faster?
"If a new idea doesn't give our brokers the tools they need to work smarter and more strategic in today's challenging loan market, we won't do it," Sapp noted. "Our focus has to be on our brokers' business to remain competitive in the e-commerce wholesale lending marketplace."
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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