NEXA Lending has launched a new model that it says will allow loan officers to access 100% of the revenue from loans they originate without transaction-level fees.
The Arizona-based mortgage brokerage announced NEXA Unlimited on Tuesday evening, saying the model eliminates flat fees, per-file fees, correspondent funding fees, additional margins, purchase advice charges and closing fees on NEXA loans.
The new model is in addition to its existing NEXA 100 program. Under that model, loan officers can receive 100% of revenue from eligible correspondent loans once they meet a production requirement: At least one loan officer in their downline must fund one loan per month.
That requirement does not apply to NEXA Unlimited. Loan officers enrolled in NEXA Unlimited can receive 100% of revenue from their first loan without a minimum volume or recruiting requirement.
“We are providing loan officers access to 100% of the revenues from their NEXA loans,” CEO Mike Kortas said in a statement. “If you are producing the business, building the relationships, serving the borrower, and creating the revenue, we believe you should have access to all of it.”
NEXA said the model is intended to challenge the traditional economic structures used by independent mortgage companies, including flat-fee and other transaction-based models.
The company said its ability to offer the model is based on its scale, production volume and relatively lean operating structure. NEXA has more than 4,000 loan officers, according to the company.
Chief financial officer Von Maharaj said NEXA’s leadership initially questioned whether the economics of the model would work.
“With the scale NEXA has already achieved, the additional volume coming into the organization, and the incredibly lean way we operate, the math absolutely works,” Maharaj said.
According to the company, the model was developed after Kortas raised the concept with Maharaj. The finance team then modeled the economics and evaluated the additional volume needed to support the structure.
The launch comes as some mortgage company owners weigh the costs and administrative responsibilities associated with operating independent mortgage companies.
NEXA recently announced its acquisition of UMortgage and the addition of UMortgage CEO Anthony Casa to the team as an executive partner. Kortas said the additions reflect broader interest among mortgage business owners in joining larger platforms rather than maintaining the infrastructure and compliance responsibilities of standalone companies.
“If you are a broker owner, put the ego and the title aside for a minute and ask what is actually best for your loan officers, your business, and your family,” Kortas said.
NEXA said the new model is intended to shift more of the economics of loan production to originators rather than relying on revenue from individual transactions.
This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.
