Tag: MILA
MILA’s Bankruptcy
The bankruptcy trustee in charge of MILA’s Chapter 11 case says there is evidence that MILA’s founder and CEO allegedly collected $32 million from MILA during the years before its demise, “improperly draining the Mountlake Terrace company’s assets as its fortune declined.”
From the Seattle Times:
“I think the executives at MILA knew by 2004 that this bubble was bursting and [...]
Posted: October 5th, 2008 under Corporate governance, Legal Issues, Mortgage and Lending, Snohomish County, bankruptcy, housing-crisis.
Tags: MILA
Comments: 5
Countrywide: SuperBad
Has the demise of one of the nation’s largest and well-regarded mortgage lending institutions started? The industry looks up to Countrywide as a home grown success story. They grew from a small mortgage company to an industry powerhouse in 38 years. Over the last several years they went on recruiting sprees within key markets and vacuumed up [...]
Posted: August 20th, 2007 under General Real Estate.
Tags: countrywide, MILA, mortgage-layoffs, superbad
Comments: 168
MILA shuts down
MILA, a subprime wholesale lender based in Mountlake Terrace, WA just north of Seattle, closed it’s doors Friday afternoon, leaving the remaining 100+ employees (down from 600 last fall) only 15 minutes to check their emails and clear out their desks. MILA had been making staff reductions as far back as February of 2006.
The Seattle Times reports that [...]
Posted: April 21st, 2007 under General Real Estate.
Tags: business-ethics, MILA, subprime-meltdown
Comments: 168
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