More Mortgage Co. Shrinkage
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.So much for that "fastest-growing" title, I guess. Maybe they should think about getting into the foreclosure business.
Better known simply as MILA, the wholesale mortgage lender has reduced its work force by about 120 people since Jan. 1.
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The lending company now employs about 600 people, according to company estimates.
(Eric Fetters, Everett Herald, 02.15.2006)
1 comment:
I worked for Merit for 4 or 5 months, partied with the excecutives and lived the high life while it was hot. Good start, best business plan, frat boy mentality and way too much coke. That is if you ask me...
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