Burk Carpenter Financial is a local, family owned and operated Mortgage Company serving Phoenix and other parts of Arizona since 2005.
Founded by Brian Carpenter and his father-in-law Kevin Burk, we have always provided exceptional service at a lower rate and price than everyone else on every type of residential mortgage loan.
Just before and at the beginning of the mortgage and real estate bubble 2003-2005, Brian Carpenter worked for a large mortgage bank. With his quick and thorough understanding and experience at every position through the ranks of the mortgage bank, he had learned how it all works from the first phone call to the closing wire by devoting so much of his time to studying literally thousands and thousands of pages of rate-sheet matrices and underwriting guidelines, going up the chain-of-command to fight for every single loan he believed in.
As he developed such a deep understanding of the underwriting side of the mortgage lending business, he had earned the respect of a select group of fellow Loan Officers at the Mortgage Bank. He actually began “qualifying” every one of their clients’ loans for them on the back side, while they were the face of the transaction and dealt with the clients directly. As a result, the company began to see less and less fallout and by default more and more happy clients.
As this progressed, he began to realize they needed to set themselves apart from the mortgage bank and the irresponsible culture of “sell and sign” that was now rampant throughout the industry at the time…so, in 2005 he broke off from the mortgage bank and started Burk Carpenter Financial with Kevin Burk, who is now his father-in-law as it turned out! They had quite the operation with a dozen or so Loan Officers and a several Loan Processors, all working to better educate themselves and their clients through a very complicated and volatile industry.
Despite the temptation of the quick and easy money in selling the exotic “Pay Option ARM” loan products, Brian and Kevin refused to allow a single one of their Loan Officers and clients to close a loan using this product. They did everything in their power to educate them on the benefits of the steady, short/long term fixed loans with higher payments now for stability in the future.
Not all clients were happy with them as a result and they lost a lot of business and a lot of money to other “sell and sign” operations slamming down these exotic and dangerous loans. Many of their clients chose the 2-5 year fixed ARM’s, to whom a written guarantee to refinance them into a fixed product at any time free of charge was always provided. Never once though did they close a “Negative Amortization” nor “Pay Option” ARM.
Needless to say, the clients who followed their advice and closed on the fixed products were very, very happy in 2008-2009 when the entire global financial machine fell apart…because their loans were secure, as were their payments…and they remembered why!
At that point, obviously the market drove many out of the industry, many who didn’t belong in the first place. Brian and Kevin scaled back their operation with the uncertainty on Wall Street and throughout the world, what with home values crashing down and major lending institutions crumbling. They kept the ownership and operations in the family and pressed on with just a select few left on the team.
They slowly began helping people out of some of the exotic loans they had obtained through other companies, by either refinancing them into fixed rate FHA or Conventional loans where the sub-prime market had failed them, or even helping many through the very difficult process of a Loan Modification and/or even a shortsale….for free in many cases.
They gradually made their mark as a boutique local lender, owned and operated by a local family, who helped people out of very difficult situations. This earned them a ton of referrals and quite frankly was the primary reason they were able to keep the doors open. They now have earned a reputation not only for helping people out of very difficult hardship situations, but also for helping the most successful and affluent among us with advice and strategy ending in the best possible financial position with loans at the lowest rates and the lowest cost. Advising some of these clients in many times against their own personal financial interests in cases where it was maybe better to sell the home, or wait another year before they attempted a refinance or a new purchase; or in analyzing very complicated tax returns and explaining how it all plays out in underwriting, leading to a different path in many cases.
The point is: integrity has always lead the way, not our profits.
To this day, Brian continues to handle every one of his clients personally, and to also have his eyes and ears on every single loan that comes through their small and very unique mortgage company.
Over the past couple of years, they have been very selective in who they bring into the family and the team. After a few Loan Officers and Loan Processors, they have settled in with such an amazing group, all of us working together to educate, advise, and protect their clients on every single phone call.
The Burk Carpenter Financial family continues to help our clients with the most difficult mortgage loan situations, and to provide the lowest mortgage rates at less overall costs while also providing a very, very good overall experience in obtaining a mortgage loan from start to finish…we are proving to be maybe the one and only exception because with us, truly…Your best interest is always ours!
License # MB-0908691