NEXA's owner launches mortgage servicer to benefit LOs

Mike Kortas has brought his goal of creating a financial incentive for the mortgage servicing rights his loan officers create to fruition with the launch of evoLend on July 2.

In an April interview with National Mortgage News, Kortas said it was something he had been dreaming he could offer to his NEXA Lending originators for a long time.

The new company, evoLend, is a Fannie Mae, Freddie Mac and Ginnie Mae-approved mortgage servicer. It's a separate entity from NEXA, which remains a mortgage broker.

Tammy Richards, who joined NEXA Lending last August as chief strategy officer, has been named as CEO of evoLend.

Kortas continues to take issue with the traditional business model which takes the loan officer out of the loop once the mortgage closes while the originator "hopes that customer comes back someday.

"I don't believe hope is a business strategy," he said in the press release.

In the April interview, Kortas said that NEXA plans to make loan officers employees of the servicer as well. 

"Loan officers earned that relationship and they should continue benefiting from it long after closing," he said in the press release announcing evoLend. "The loan officer will now control the payoff process."

Kortas sees loan officers having future residual-income opportunities through compliant mortgage servicing structures.

With evoLend, Kortas expects servicing data, payoff control and borrower intelligence to become part of a larger ecosystem that LOs can use to protect their business.

"Servicing shouldn't take borrowers away from loan officers," Kortas added. "It should help them keep those relationships for life."

Richards joined NEXA following a stint with Kind Lending as its chief operating officer. Before this, she was CEO of a mortgage technology firm she founded, Lendarch.

Previously, Richards held leadership positions at Caliber Home Loans, Bank of America and loanDepot.

"evoLend is about giving loan officers access to the information and infrastructure they have historically been separated from after closing," Richards said. "This company is being built intentionally, with compliance, technology and long-term loan officer value at the center."

Another company which has looked to pair broker loan officer marketing with customers looking to refinance is United Wholesale Mortgage. The Troy, Michigan-based company rolled out an artificial intelligence tool in 2024 which suggests consumers call their mortgage broker when they become candidates for a new loan.