Scotsman Guide > Rankings > Top Originators 2011 > Michael Meena #2 Top FHA Volume

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Top Originators 2011: #2 Top FHA Volume

Michael Meena, Augusta Financial Inc.
#2: 2011 Top FHA Volume
Volume Rank: #23
Closed-Loans Rank: #17

For Michael Meena, properly educating clients about product offerings is one of the keys to success, especially when it comes to Federal Housing Administration (FHA) loans.

“That’s the most important part about [working with FHA borrowers],” Meena says, “speaking with them, sitting down with them, making sure that they understand what they’re doing and what they’re getting into.”

Yet Meena’s emphasis on education doesn’t end with the client. He stresses educating oneself just as fervently. “If you want to be a good loan officer,” he says, “learn your products. Have product knowledge. A lot of loan officers out there don’t understand what they’re selling.”

Such a high degree of product knowledge and customer service certainly seems to be paying off. Based in Newhall, Calif., Meena closed more than $143 million in loans this past year, an increase of several million from his volume the previous year. Of his 2011 total, more than $43 million consisted of FHA loans.

The balance of Meena’s purchase business and refinance business is impressive, as well. Refis accounted for more than $67 million of his loan volume, while purchase loans accounted for more than $75 million. Despite this relatively even balance, Meena says that he focuses first on his purchases — and he does so out of necessity.

“I can make a living off of my purchase business,” he says, “but I can’t make a living off of refi business  100 percent of the time. [My] focus is always on purchases, and if [I] get the refis, too, that’s fantastic.”

—Raymond Fleischmann

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