Friday, April 20, 2007

MILA goes under

As of 4/20/2007 rumor has it that Mortgage Investment Lending Associates (MILA) is going under. At 4:30 CST the web site was down with the home page listing a thank you page to all the brokers that conducted business with MILA over the years. It read
"MILA would like to thank all of the mortgage brokers we've done business with over the years. Due to current market conditions, we do not have the resources available to continue lending. It is with great regret that we announce we are ceasing operations effective April 20th, 2007."
As of 9:00pm CST the website homepage is back on but you can't access the back office.

7 comments:

Anonymous said...

This sucks. I had a loan with them today and they did not bother telling me they were going under.

Anonymous said...

Local lender shuts hastily amid turmoil in industry

By Seattle Times staff

http://seattletimes.nwsource.com/html/businesstechnology/2003675597_mila21.html

Anonymous said...

Yes MILA is now gone.
I´m a former employee.

I found out by e-mail.

They didn´t warn us. They didn´t have a national conference call the way they should have.

No word of any severence package. Many people across the country have families. I spoken with many other´s and they are now filing for unemployment and are afraid of what´s going to happen to them, because they still have mortgages to pay. Children to provide for.

I hope Layne steps up to the plate. I hope he´s the man I think him to be. Fair, honest and intelligent.

I´m confident he´ll look out for his people but only time will tell if I´m right.

In the meantime, thanks for all your support by "Putting MILA In Your Office."

Sincerely,


"Anonymous"

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