#1: 2011 Top Refinance Ratio
> VA-Volume Rank: #2
> 2010-2011 Change: #9
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Declining interest rates for refinances in 2011 really gave a boost to Nathan Wathen’s business. He went from originating a total loan volume of just more than $8 million in 2010 to $59,109,415 this past year — and 100 percent of that volume was from refinances. And 100 percent of those refinances were U.S. Department of Veterans Affairs (VA) loans.
A mortgage broker with Low VA Rates, a division of Flagship Financial Group, Wathen only works on VA loans. He’s based in Utah but now is licensed to originate in 18 states. Last year when business was slow, Wathen took advantage of the downtime to pursue additional licenses — logging the necessary continuing-education hours, as well as passing multiple state tests.
Getting those additional licenses was another avenue to increase his business. “I got more licenses, which helped me reach out to a wider variety of people. It really is a commitment to be able to write loans in so many different states and to follow all the states’ guidelines,” he says.
Making that commitment paid off. In addition to the increase in overall volume in 2011, Wathen closed 230 loans this past year, after closing 30 in 2010. He attributes his success to a variety of factors: better interest rates, repeat business, his own increased dedication, his company’s marketing and building a strong team of processors.
And while success may be its own reward, Wathen also is glad to be working with military families. “It’s probably the best part of my job to be able to give back to someone who’s sacrificed for our country,” he says. “It’s very fulfilling.”
—Jennifer E. Garrett
