Major Wholesale SubPrime Lender MILA Closed Its Doors

MOUNTLAKE TERRACE, WA: Due to negative market conditions in the volatile SubPrime industry, MILA (Mortgage Investment Lending Associates) was unexpectedly forced to lay off all of its 300 employees and they officially closed their doors effective Friday, April 20, 2007.  While very unfortunate for MILA the company, its executives and employees, we truly wish them only the very best, care and concern. I think we will see the SubPrime mortgage industry regain its balance and stablize in the next three months or so.