Another local mortgage firm has been shrinking lately. Mortgage Investment Lending Associates, Inc.’s staff has shrunk by roughly 17% since January.
Rising mortgage rates and the slowing housing market nationwide have caught up with Mortgage Investment Lending Associates Inc., which has reigned as one of the region’s fastest-growing companies.
Better known simply as MILA, the wholesale mortgage lender has reduced its work force by about 120 people since Jan. 1.
…
The lending company now employs about 600 people, according to company estimates.
So much for that “fastest-growing” title, I guess. Maybe they should think about getting into the foreclosure business.
(Eric Fetters, Everett Herald, 02.15.2006)