Joseph R. L. Passerino

Office: 949-215-0931

Office: 949-215-9031

Cellular: 951-378-3434


Bureau Of Real Estate

Sales License 1978

Broker License 1992

BRE License # 00631090


National Bank
Sr. Vice President/National Production Director

Built loan production portfolio from $75mm per year to over $2.8 billion per year in a five (5) year period.  Opened and managed four regional lending offices nationwide with a professional staff of over 800 employees in Florida, Massachusetts, Colorado, San Jose, CA and Riverside, CA.

National Bank

Chief Credit Officer
Responsible for all loans funded


Co-Authored and Created NINA Guidelines (No Income No Asset Loan)

Lending Guidelines:

  • Residential Guidelines for A, Alt A, A-, B and C Loan Product
  • Commercial Lending Guidelines
  • Construction Lending Guidelines
  • Correspondent Lending Guidelines


Residential Wholesale Lending Division Nationwide

  • Correspondent Lending Division – Residential
  • Commercial Lending Division – Nationwide
  • Construction Lending Division – California
  • Servicing Department- Portfolio over $3.5 Billion
  • REO Divisions – Nationwide
  • CRA – Community Redevelopment Act President
  • Broker Approval Department with over 5,000 approved Mortgage Brokers Nationwide

IPO (Initial Public Offering – NASDAQ)

Worked closely with Wall Street Investment Banks preparing De Novo Bank for a successful IPO.

Commercial Real Estate Sales

Represented clients in closing over $500 Million in multifamily and commercial properties.

Commercial Lending

Arranged and funded over $1.5 Billion in loans which included FNMA DUS multi-family, commercial property, office, retail, mobile home parks, assisted living and senior housing loans Nationwide.

FDIC/OCC-Financial Advisor

Financial Advisor to the FDIC (Federal Deposit Insurance Corporation) as a Special Asset Manager. Evaluated complex real estate loan portfolios in excess of $300 million for sale/securitization of the residual value of the portfolio. Served in advisory capacity to the FDIC, state and local agencies closing National and State Banks to evaluate and recommend changes to attain full compliance; performed comprehensive forensic review of foreclosures in process from 2009 to 2014 as mandated by the Office of the Comptroller of the Currency and the Federal Reserve Board.

Investigated to identify financial injury to borrower’s, which resulted from errors, misrepresentations and other deficiencies in the foreclosure process from 2009 through 2012. Performed forensic due diligence audit reviews on files of Suspicious Activity Reports (SARS) or Suspicious Incident Reports (SIRS) to detect and report suspicious activity. Worked in close partnership with Sales, Operations, Credit, Legal and Compliance to ensure efficient and timely on-boarding infrastructure; played a critical role in the review of all KYC (Know Your Customer) profiles for new and incremental business; responsible for performing quality control reviews of KYC records for new and incremental business; understood the firm’s AML (Anti-Money Laundering) and KYC standards and policies implemented; reviewed KYC Records for accuracy and completeness.

Independent Consultant; Conducted a Full “Look-back” Review

Determined whether the foreclosing party had properly documented ownership; if the foreclosure was in accordance with applicable state and federal law; did the foreclosure sale occur when a loan modification or other loss mitigation request was under consideration, or whether the loan was performing in accordance with a trial or permanent loan modification; had the loan been in default for a sufficient period to authorize foreclosure; reviewed any non-judicial foreclosure and that the foreclosure sale and post-sale confirmations were in accordance with the state law requirements.

Confirm a delinquent borrower’s account was charged only fees or penalties that were permissible; the requirements of HAMP (Home Affordable Modification Program) and proprietary loss mitigation requirements were followed and any errors, misrepresentations or other deficiencies identified in the review resulted in financial injury to any borrower.  Loss Mitigation and Foreclosure Process – primary reviewer; Historical complaint review – primary reviewer; Final review of Loss Litigation and Foreclosure process – secondary reviewer; Foreclosure Review Process: Solicited complaint reviewer; secondary complaint reviewer; supervisor of secondary complaint reviews.

FDIC/OCC-Financial Advisor

Performed due diligence/file review determining borrower/borrower’s total liability and the accuracy of the receiver’s lien position; Served in the strategic planning and evaluation of a $350 Million and $300 Million commercial loan pools for the sale/securitization of the residual value. Responsible for analysis and disposition of Unfunded Commitments (UCAT) and HELOC’s; Prepared cases to repudiate or modify Unfunded Commitments, short sales, loan compromise, loan modification, and foreclosures.

Calculated Net Present Values for portfolio of commercial, multi-family, A&D, and residential loans; Performed due diligence/file review for Escrow Bond Funds, Interest Reserve Accounts with Holds, Warranty Bond Accounts and Legal Hold Accounts; Worked with local municipality and developers to transfer funds; Facilitated offsets of uninsured deposits against loan balances to minimize loss to Receivership; Performed due diligence/file review determining borrower(s) total liability and the effectiveness of the receiver’s lien position.

Conduit Financing

Originated, underwrote commercial and multifamily loans for a national insurance company.  Introduced client base to CMBS (Commercial Mortgage Backed Securities) and subordinated REMIC (Real Estate Mortgage Investment Conduit) investors.


Joseph Passerino Seminars was developed from professional experience finding that there is a lack of quality education for real estate agents, commercial mortgage lenders and the general public about investment real estate.  Southern California seminars now offer the following:

  • Introduction to Commercial Real Estate
  • Professional Guide to Selling Apartments
  • Professional Guide to Selling Apartments Workshop
  • Introduction to Financing Investment Real Estate
  • In Depth Guide to Financing Investment Real Estate
  • Emotional Selling Techniques and the Lost Art of Cold Calling

Personal Investments

  • Owned, operated, and managed over 50 buildings in personal investment portfolio.
  • Owned investments as a single entity, general partnerships, LLC’s and C Corporations and as general partner in over 10 Limited Partnerships.