This week, host Marc Summers sits down with David Temko, President of C2 Financial. The two discuss David’s upbringing in mortgage, his route to the broker channel, and the logistics of running one of the largest shops in the country.
David Temko grew up in the industry, and says that mortgage terms and discussions about loans were a normal part of family dinner. His father was a pioneer of the high-margin brokerage model, and David himself got his real estate license at 19. In college, he interned with top producers to learn the tricks of the trade. Upon graduating, David started Cobalt Financial, which would go on to become C2 Financial.
Today, C2 has a staggering 1,000 loan officers across 22 states. The organization is headquartered in San Diego, where a corporate team of 40 does the behind-the-scenes work. Temko is beginning to expand horizons, with eyes on the East Coast. He says that he feels C2 Loan Officers can make a difference in any community, and that brokers provide transparency and value that people are willing to pay for. Long gone are the days, he says, where going to a broker was a last resort for folks who couldn’t get loans elsewhere. “They’re (retail) limited, and we’re unlimited,” Temko says.
How does one operate an organization on the scale of C2, especially when it comes to compliance? For David Temko, it starts by being ahead of the curve. His shop keeps a tight grasp on their policies, ensuring that things never get out of hand. He also must contend with a roster of 100+ lenders, which is constantly shifting and changing based on options offered. A consumer-first mindset determines what C2 will offer and who they do business with. This, combined with a team-as-family mentality ensures success.
When it comes to support, Temko points to the value of AIME as an organization. “It’s all about connections,” he says, as well as the advocacy AIME is doing on Capitol Hill. “Ours is a community of brilliant entrepreneurs, like-minded individuals… now more than ever it’s time to galvanize our community and continue to grind, and I appreciate (AIME) more than ever.”
2:30 – Background
10:00 – Growing your shop
15:00 – Compliance
20:00 – Retail recruiting
25:00 – Why is AIME so important?
This episode is sponsored by Homebot