Gary Coscia, President and Owner, Largo Capital Inc. paid the one-year M.B.A. cohort a visit on Monday, March 4, 2013. The relatable Coscia showed up in blue jeans and a sweater and gave an equally relatable speech about the advantages and even disadvantages of working for a small firm, such as Largo upon graduation. Coscia admitted that pay and health benefits may be a minor disadvantage when considering employment with a small firm over a large firm, but quickly dissolved this negative with visions of a unique and family-like corporate culture filled with Monday morning meetings where successes are celebrated. Additionally, Coscia explained that with a small firm, recent graduates are able to expose themselves to a variety of skills early on due to the flat, non-hierarchical structure.
Largo Capital Inc. is as a correspondent lender, described as “an institution that uses the resources of a mortgage banker to lend in a particular region.” In other words, commercial firms looking to refinance their mortgage utilize Largo just as they would a mortgage banker. Largo “prepares the financial package, underwrites the loan, facilitates the closing [and] services the loan.” The primary difference between Largo and other mortgage bankers is that Largo has a unique relationship with its investors, such that Largo’s analysts have the ability to assess deals, deciding which investor will be most interested in it.
Merriam-Webster may define largo as an adverb used to describe “a very slow tempo,” but luckily this does not describe Gary Coscia’s wildly successful correspondent lending institution. Ironically enough, Coscia’s firm had almost $600 million in revenues for 2012 alone. Not too shabby for this local SUNY Oswego alum that made his first deal with a company in Largo, Maryland back in 1989.
Still want to know more? Check out www.largocapital.com.