For the seventh year in a row,
we compiled the industry’s most
comprehensive list of the nation’s top
mortgage originators. The rankings
include not only the originators who
are closing the most dollar volume
and the most loans, but also the
leaders in niche areas, like Federal
Housing Administration, U.S. Department of Veterans Affairs and U. S.
Department of Agriculture loans as
well as home equity lines of credit.
View Scotsman Guide’s
Top Originators 2015 at
By Rob Crow
Mike Osorio works in a city of nearly 500,000 people, for a bank that operates in two of America’s six
most-populous counties. It just doesn’t feel that way.
Osorio, one of the nation’s top originators for home
equity lines of credit (HELOCs), has been with
Farmers and Merchants Bank for nearly nine years.
The bank operates two dozen offices throughout
Southern California’s Los Angeles County (with an
estimated population of 10.2 million) and Orange
County (population 3.2 million). Osorio services
three of the bank’s Long Beach offices, and lives only
two miles or so from each of them.
“Long Beach is a big city, but it makes it small when
you live and work in a two-mile radius,” Osorio says.
“You see people you know in the store and the coffee shop. Your customers and clients own businesses nearby, and you see them pretty much every day.”
A 14-year veteran of the mortgage industry, Osorio
started out as a mortgage originator in the early part
of this century. When the housing market collapsed
in 2008, however, his fortunes changed.
“I had a few good wholesale lenders — at the time,
we considered good to be IndyMac and Washington
Mutual — and overnight those companies shut down
wholesale,” he says. “It got real tough as a small broker to make it. I knew Farmers and Merchants Bank
as a community bank, and I knew folks over here, so
it was a good time to transition to the banking side.”
Rob Crow was online content editor for Scotsman Guide Media.
For questions regarding this article, e-mail firstname.lastname@example.org.
The move has certainly worked for Osorio, now
a vice president and senior loan officer with the
bank. In 2015, he originated more than $111 million
in loans, including just over $16 million in HELOCs.
He ranked second nationally on Scotsman Guide’s
Top Originators 2015 list for Top HELOC Volume.
Osorio says HELOCs can be more complicated to explain to customers than some loans, but spending
that additional time is worthwhile.
“It’s taking the time, asking the right questions
and giving them the information to know that
if they need the funds, they’re available,” Osorio
says. “It’s more about education and giving them
that option, because they may not know if it’s the
With home values skyrocketing nationwide,
HELOCs have been one of the hottest items in the
mortgage market over the past few years. HELOC
originations increased on a year-over-year basis for
17 straight quarters — from second-quarter 2012
through second-quarter 2016, according to Attom
Data Solutions. Osorio has seen similar growth in
“The [HELOC] volume over the last three years has
increased as we’ve seen values go up,” he says. “If
clients have first mortgages, they’ve already refinanced on really good rates and terms, but they still
want access to their funds.”
Mike Osorio, Farmers and Merchants Bank
No. 2 Top HELOC Volume (2015)