Rise Of The Rascal

Despite the ensuing chaos of the global financial crisis, serendipity — that beneficial convergence of chance and circumstance — had worked its magic: Robyn was the right person at the right moment to help him navigate the trials and tribulations ahead.

It was not the first time nor the last that serendipity would shape the story of Scott Valins.

Pre-Med To Mortgage

Valins wasn’t supposed to end up in mortgages — and he certainly wasn’t supposed to be in Los Angeles. In high school, he was the definition of a star student. Driven and fiercely competitive, Valins was fueled by the kind of intense ambition few teenagers possess. His close friend from high school, Adam Goldstein, now CEO of Archer Aviation, vividly remembers Valins’s determination:

“Scott was the number one ranked kid in our school, and as long as he got A’s our senior year, he'd be valedictorian. But his rival secretly took summer school classes to pass him. The only way Scott could get the title was if he took five AP classes — but there were only four offered. So he lobbied the school to create a new class just for him: AP French. He had to teach himself and pass the AP test to get the crown. And he did it.”

Valins’s trajectory seemed clear-cut after that. He went to Cornell University and started out pre-med, planning to follow a predictable path: college, medical school, residency, practice. It was the sort of career expected of someone with his academic intensity and ability, the kind that brings with it both admiration and approval.

Yet, partway through, a sense of unease crept in. Something didn’t feel right. He realized medicine wasn’t for him, though he didn’t know what was. Still, he trusted his instincts enough to pivot, a move he would embrace more than once — always with a vague plan, always believing it would somehow work out.

“I graduated in 2001 and moved to New York City with a consulting job lined up,” Valins recalls. But timing, which would become an ironic theme in his life, intervened once again. The dot-com bust had already rattled markets, and then, just months into his first job, 9/11 shook the world. Suddenly, consulting felt empty. “I couldn’t see the path,” he realized.

Beneath that restlessness was something deeper: a persistent desire for tangible, meaningful impact. High achievers like Valins are expected to change the world, and when that isn’t happening, one’s sense of purpose can vanish.

So at 22, Valins took another leap, heading west to Los Angeles without a firm plan. He found work as a production assistant on music videos and commercials — setting up equipment, driving trucks, fetching coffee. The days were long but simple. On set at 6 AM, wrapped by 4 PM, beers with friends afterward. It was unpretentious and liberating.

Then came another opportunity, this one presented by his cousin, who worked with a mortgage crew at New Century in Irvine, California. They saw something in Valins immediately: "You’re smart, you’ve got sales chops — jump in," they urged him. He saw dollar signs, certainly, but also something more compelling: a chance to utilize his full skill set, blending salesmanship, analysis, and charisma. 

But even as he embraced this new role, something nagged at him. His Ivy League pedigree and early ambitions made his new path seem like a step down in the eyes of others — and often his own. “The med school path haunted me a lot over my career," Valins admits now. “It doesn’t anymore, but especially early on, people would be surprised that I had an Ivy League degree and I was a mortgage broker. I’m a pretty sensitive guy, and each time that would happen it would shake them, and it would shake me back. I'd lose confidence in myself and I would question my decisions and whether I should be out there with a medical school degree.”

“Scott is one of the smartest people I know. Why mortgages? Because it’s an area overlooked by entrepreneurs.”

> Adam Goldstein, CEO of Archer Aviation, on Valins' unconventional path.

Despite these doubts, or perhaps because of them, Valins dove deeper. In 2006, he secured his broker’s license, fully committed to the mortgage business. Unlike many colleagues who jumped ship to traditional banking, he remained resolutely in the broker channel, sensing its flexibility and potential.

It wasn’t long before the crash began in 2007 and the market unraveled. Valins, already weathered by doubt and expectation, was about to face his greatest challenge yet.

Trial By Fire

When the Great Financial Crisis hit, the mortgage industry became ground zero. “During that period, people on Wall Street were excited to learn from me. They didn’t necessarily know what was going on in the trenches.” He had witnessed the subprime meltdown firsthand, watching entire firms dissolve overnight, leaving him disillusioned and uncertain.

With everything around them crumbling, Valins and Robyn felt a powerful urge to return to their roots. Both eager to head back east, they packed up their lives in Los Angeles and moved to New York. Seeking a fresh start, Valins briefly co-founded an SAT tutoring company with his brother.

At the same time, Valins found himself once again seeking elite academic validation, this time business school. With strong GMAT scores, he landed on waitlists at Wharton, NYU, Kellogg, and Yale, the latter promising him a spot if he reapplied the following year. The prospect intrigued him — the degree would open different doors — but he wasn’t entirely convinced that he needed to return to ivory towers to find his way.

Ultimately, his instincts pointed back toward mortgages. Programs like Home Affordable Refinance Program (HARP) were starting to revitalize the industry, and Valins recognized a renewed sense of purpose there. He handed the tutoring business over to his brother and plunged back into the mortgage world, grateful in retrospect for not being saddled with business school debt or the relentless grind of Wall Street.

Adam Goldstein puts Valins’ journey into sharp relief: “Scott is one of the smartest people I know. Why mortgages? Because it’s an area overlooked by entrepreneurs. He saw an opening and an opportunity that no one else could see. And once he started his journey, he stuck to it. He didn’t bounce from industry to industry.”

Building A Brokerage

Returning to New York wasn’t just a geographic shift for Valins — it marked the start of a new, quieter journey of self-assurance. He gradually crafted a reputation as a loan originator who valued authenticity, communication, and a notably “non-salesy” approach.

By 2013, he partnered with a colleague — also named Scott — to launch Scott Capital Group. Together, they focused relentlessly on relationships and referrals, steadily building a loyal client base. At first, Valins wondered if his Ivy League background might continue to cast doubt on his unconventional path. But something surprising happened: his education began to set him apart. His intellect, paired with his empathy, allowed him to make mortgages understandable for his clients, which in turn made them trust him.

The decade of building Scott Capital Group wasn’t flashy. There were no bold technological leaps, no sudden surges. It was methodical, steady growth — year by year, referral by referral, personal and relational. The lingering shadows of expectation — the feeling that he should be doing something else, something more conventionally prestigious — slowly faded.

Critical to this shift were conversations with bankers and financial professionals who were intrigued, even impressed, by his frontline perspective on the Great Financial Crisis.

“In New York, I surrounded myself with people in finance, Wall Street types, who were fascinated by my stories from the mortgage front lines,” Valins recalls. “These weren’t happy stories — but they were real, and valuable, especially to people working with derivatives and financial instruments far removed from everyday borrowers. They were genuinely excited and passionate to learn from someone who had actually lived it.”

These exchanges offered more than validation. They reinforced Valins’s growing confidence in his chosen path. He was no longer haunted by doubts about what he “should” have been. Instead, he felt grounded and clear in the value of his expertise.

This decade wasn’t simply about growing a brokerage — it was equally about Valins’s personal evolution. As Scott Capital Group flourished, so too did his sense of self, laying the groundwork for the bigger vision still to come.

Yin And Yang

By 2019, Scott Capital Group was thriving after nearly a decade of steady growth. Yet Valins found himself restless, sensing he was capable of something even bigger. It was around this time that his longtime friend Adam Goldstein saw an untapped potential in Valins. “Scott had built something great, but I felt he could scale it even further,” Goldstein recalls. “I knew someone who might help him.”

That someone was David Williams, an experienced operations director from Goldstein’s former tech startup, Vettery. Goldstein arranged a casual introduction. “When we first met, I could just tell that Scott had a kind of motor on him,” Williams says. The initial meeting was friendly but inconclusive; Williams had already set his sights on business school.

But then came March 2020 — and with it, COVID-19. Amidst the uncertainty of the pandemic, Williams revisited the idea of working with Valins. The consulting stint, meant as a brief interlude before heading to MIT, proved unexpectedly impactful. Valins recognized Williams’ talent immediately. “I remember telling Adam, ‘God, I wish David would stay. He could really be the guy — but he’s going to business school.’”

Goldstein saw another opportunity. He called Valins and proposed, audaciously, “Let’s convince him not to go.” Valins was skeptical. “David was already halfway to Cambridge — his stuff was literally there.” But Goldstein was determined. “Give me a week,” he said.

So began a gentle but deliberate campaign, highlighting the potential of partnership and shared ambition. Goldstein offered Williams his perspective: “Business school is a great path, but if you can build a business rather than study businesses, it will be the best training ground you could ever get.”

The choice wasn’t straightforward for Williams. “To my family and to my now-wife, it was the most insane trajectory ever,” he laughs. “But to me, it just sort of happened. I went with my gut. It felt more right every day.” Ultimately, Williams decided to drop out of MIT before classes even started, fully committing to launching a new venture with Valins.

By August 2020, the transition was complete. Valins amicably exited Scott Capital Group, and, together with Williams, he navigated the licensing processes and laid the foundation for GoRascal.

“Scott's pace is fast — always fast,” Williams explains. “I'm more orderly, operational, focused on scaling. From the start, we knew we could be yin and yang.”

What do you call it when an old high school friend puts you together with someone who just so happens to have the skill set that pairs perfectly with your own? And that this new partnership would make it possible to scale your business to a size you hadn’t even dreamed of? Right. Serendipity.

A New Model

From the outset, Valins and Williams envisioned GoRascal as something fundamentally different from the typical mortgage brokerage. Their initial strategy was ambitious: recruit fresh, young talent and provide them with comprehensive training from the ground up.

“We wanted a mortgage brokerage that could compete with tech startups — not just in efficiency but in culture,” Valins explains. They chose Brooklyn for their home base, creating a modern, music-filled workspace designed to challenge every expectation of what a mortgage company should be.

The name GoRascal emerged from extensive brand-building sessions. “We knew the brand had to be whimsical to attract top talent,” Valins recalls. “We couldn’t look or sound like traditional mortgage brokers. We had to compete with tech companies like Google or Yelp, so the name had to be playful and approachable.” The dog logo reinforced loyalty and friendliness, intentionally distancing the brand from any negative industry stereotypes.

Their educational approach was just as innovative. “Initially, our mentality was, ‘This is the big leagues — we're going to help, but you have to figure some things out on your own,’” Williams remembers. “But we quickly realized it wasn't our nature. We're helpful guys.”

Every new recruit started their journey on the processing side, learning the nuts and bolts of the mortgage process. “My philosophy has always been to be as educated as possible,” Valins explains. “If you know as much as the processor, you'll succeed.” Trainees spent six to eight months learning, then moved into full processing roles. After twelve months, they could choose to become loan officers or remain on the operations team.

For about 18 months, the model thrived. Fresh hires quickly gained traction, building confidence, forging relationships, and mastering the intricacies of mortgage lending. The culture of openness, education, and playfulness took hold, attracting bright, ambitious people who loved the work and the approach.

Yet, just as momentum seemed unstoppable, the market shifted dramatically. Inflation surged, interest rates spiked, and refinance volume dried up virtually overnight. The innovative model that Valins and Williams had so carefully built would soon face its toughest test yet.

The Harsh Reality of Rising Rates

When rates spiked in 2022, Valins and Williams knew they had to pivot — fast. The promising momentum GoRascal had built was suddenly under threat. Rookie loan officers who had thrived in the earlier environment struggled, forcing painful rounds of layoffs.

The difficult decisions fell heavily on Valins, who had never faced mass layoffs before. But having Williams by his side proved critical. Despite being younger, Williams had experience navigating downsizing at a larger scale. “Having David there — despite him being younger, having that experience — was great,” Valins explains. "Some people ask me, ‘What's the key to success?’ To me, it was finding the right partner.”

Forced to reassess their strategy, Valins and Williams recognized an opportunity. Experienced retail loan officers were increasingly eyeing the broker channel, seeking better pay structures and greater autonomy. “We learned from some other friends in the broker channel about this high commission model, where we return a majority of the origination revenue to the loan officer,” Valins notes. Recognizing the shift in market dynamics, they swiftly reoriented GoRascal toward recruiting established professionals rather than rookies.

Adapting quickly, they began reaching out directly to experienced local retail loan officers. Neither had significant sales experience, yet they devoted time each afternoon to cold calls, building relationships with established professionals. “High interest rates are very much a double-edged sword for our business,” Valins reflects. "It's not great for the loan officer, but it's certainly great for a company recruiting loan officers."

A pivotal moment of validation arrived when Williams successfully recruited a local loan officer, Peter Karlin. Williams recalls the significance: “Peter Karlin was like, ‘Oh, David Williams from GoRascal — I know GoRascal.’ I'm not even convinced he actually knew who we were, but of course, I thought, “It's working!’”

Peter Karlin became instrumental, serving as a catalyst who actively recruited others and embraced the company's culture. “When we landed Peter Karlin, it was validation,” Williams adds. “Even though we were still losing money every month, we knew, ‘Alright, we're on our way. We'll get there.’” Valins had a similar reaction: “It was a turning point,” he says. “We didn’t only get a yes from him. He promised that this was just the beginning of something special. And we saw that come to fruition.”

With streamlined operations, robust processing, and a renewed culture of responsiveness and education, GoRascal quickly became attractive to loan officers seeking to escape the bureaucracy of big banks. The pivot paid off, delivering rapid production growth: $326m in total volume (792 units) in 2022, $584m (1197 units) in 2023, and $1.75b (3580 units) in 2024. Their reach also expanded, with their MLO count passing the 100 mark in 2023 and currently sitting at 280 — across 11 branches.

Reflecting on the emotional toll of tough business decisions, Valins acknowledges, “I often read that to run a successful business, you have to separate emotion from decision-making. If the numbers say fire that guy, fire that guy. I respect that. I don't necessarily disagree with it, but I think it's probably something that's impossible for me to do and stay true to who I am and what I want — to be able to come to work every day.”

Culture And Community

One of GoRascal’s defining elements is a twice-weekly Zoom call hosted by Valins, breaking down bond movements and trends in mortgage-backed securities. What began as a personal passion — Valins describes it as simply “geeking out” about the markets — has become an unexpected cornerstone of the company's culture.

“It’s shocking to me when an LO sends me a Slack and says, ‘Hey Scott, just want you to know, these market updates you do are the best thing I've ever experienced at a company,” Valins admits. The calls not only educate but empower GoRascal's loan officers, helping them confidently discuss market fluctuations and rate changes with clients. “I've been tracking the bond market for years, but I never woke up thinking it would become an edge or something we would actively promote," Valins explains. “Frankly, we probably should promote it more publicly, but the truth is, it just happened organically. I love it.”

This approachable, authentic style has set GoRascal apart in a fiercely competitive industry. “People use the words humble and modest to describe me and the company,” Valins says. “And I love that, especially in an industry known for bravado, aggression, and infighting.”

The Underrated Differentiator

Yet, Valins is quick to point out that positive energy alone doesn’t close loans. LOs have to see that you have their back, not just hear it. And that’s precisely what happened when  Valins learned of some responsiveness issues with some Account Executives (AEs).

“I sent a friendly but firm email to every lender we work with, requiring them to provide direct contact information for their supervisors — name, email, cell, and business phone,” he explains. “I made it clear that if the AE wasn’t available or responsive, we would go up the chain. It shouldn't be complicated. Our customer is the loan officer first and foremost. So I take care of them.”

David Williams highlights this hands-on approach: “Scott jumps in several times a week to help save deals for our loan officers. There’s no reason for him to do that — we're closing 500 deals a month. But he loves it, and it gives us a mom-and-pop feel that's hard to maintain at our scale.”

Valins sees this accountability as essential to their success. “Authenticity is such a key piece here … I don’t know if I could really be different,” he emphasizes. GoRascal’s brand and culture aren’t just slogans; they emerge from the tandem at the top.

Balancing Empathy And Expansion

Leading a rapidly expanding brokerage is complex, and Valins faces that challenge head-on, managing hundreds of loan officers, each with unique files and local market dynamics. Such unpredictability could easily become overwhelming, yet he finds deep satisfaction in navigating real-time problems, solving them alongside his team.

“I wake up surprised sometimes about how much I love this journey as a CEO and coming to work every day,” Valins reflects, balancing both the joy and stress inherent in “controlling the controllables” while empowering his team. Many business books advocate removing emotion from personnel decisions, but Valins acknowledges this is not his way.

To manage growth and stay strategically focused, Valins and Williams invested in coaching and structured business frameworks. “We hired a business coach early on and adopted the entrepreneurial operating system (EOS) with clear quarterly Rocks,” Valins explains [Rocks are how EOS refers to goals]. Initially, their coach prompted them to set ambitious five-year goals. “We aimed for a thousand-unit month within five years and 500 units within three years,” Valins recalls. Yet, GoRascal reached that three-year milestone — 500 units per month — in half the time. 

“That was a defining moment,” he says, noting, “our growth accelerated 70% last year, even in another one of the worst years in the history of mortgages.”

Where GoRascal Goes Next

Looking forward, Valins and Williams remain committed to continuous improvement. “We’re not just chasing quick volume,” Valins emphasizes. “Our mission is ‘building the happiest home for loan officers.’” Valins praises industry innovators like Matt Ishbia and UWM, recognizing how their continuous rollout of new initiatives, products, and incentives has inspired GoRascal. “Some [ideas] are game-changers, some aren’t, but it keeps things fresh and it reminds LOs that someone’s  behind closed doors, constantly thinking of ways to get them more business, to help them close more loans.”

Ultimately, GoRascal aims for balanced growth — adding talent while continually investing in those who have already joined. “We want to keep growing, keep adding loan officers, but the nurture piece is front and center. Equal balance. Keep growing and keep recruiting,” Valins explains, while highlighting the questions he and Williams constantly ask themselves: “How do we keep our loan officers happy? How do we make sure they want to stay at GoRascal for the rest of their careers?”

Reflecting on the chaos of 2007, Valins smiles at the unpredictability that brought him here. The road to success was anything but straight. It wound through detours of doubt and expectation, through questions of who he was supposed to become versus who he truly wanted to be. Now, those insecurities — which once loomed large — have receded, transformed into the quiet fuel that drives him forward.

And then there’s his old friend Serendipity. Throughout his journey, the right people appeared at precisely the right moments. Robyn, who stood beside him as the world seemed to collapse, offering stability and partnership amid chaos. Goldstein, the high school friend who believed fiercely in Valins' capacity to scale and succeed. And Williams, the partner who gave up an MIT MBA because he trusted his gut feeling about the man across the table.

“Scott is one of the smartest, hardest-working people in the industry,” Goldstein says. “He will likely reshape how the mortgage industry operates.” Williams echoes that vision, sharing their ambitious goal: “We've always had this north star: we want to be the biggest non-bank mortgage company in New York. We see ourselves as the preeminent platform for loan officers.”

Yet beyond the strategic insights, the entrepreneurial risks, and the soaring ambitions, GoRascal's story ultimately rests on something simpler and more profound: Scott Valins himself. His blend of ability, humility, intelligence, and empathy naturally drew people toward him, each person sensing something authentic, something rare.

The success of GoRascal, then, is no accident. Neither is the loyalty and enthusiasm of those who joined him. Valins’s journey is one defined by relationships, by trust, by a willingness to stay true to himself in an industry often driven by bravado.

And Serendipity, of course.