Mortgage Nerds joins NEXA Lending platform

Mortgage Nerds is joining the NEXA Lending platform. The mortgage company, led by Mike Cox and Brian Hofmann, made the move after a search lasting approximately 18 months, according to a joint announcement on Thursday.

NEXA has been active recently. The platform recently acquired UMortgage, added Anthony Casa as an executive partner, and launched its NEXA Unlimited model. That model allows loan officers to keep 100% of the revenue from loans they originate.

Why Mortgage Nerds chose NEXA

Cox and Hofmann said they evaluated multiple organizations before selecting NEXA. They pointed to NEXA's servicing and borrower-retention offerings as decisive factors. The company's relationship with Vetted VA and CEO Mike Kortas's involvement with the veteran community also influenced the decision.

Mike Kortas welcomed the addition. "Mike and Brian did not come to NEXA because they needed someone to save what they built." Kortas said. He stated NEXA's role is to remove obstacles for entrepreneurs and create new opportunities for the broker community through infrastructure, technology, and servicing.

Focus on veteran education and loan retention

Mortgage Nerds has a specific focus on educating veterans about VA loans. Cox and Hofmann have traveled nationally in recent years to discuss the program and counter what they describe as misconceptions about the VA benefit. The companies confirmed these educational efforts will continue under NEXA.

The executives highlighted the long-term value of customer relationships. "The economics are exciting, but for me the bigger opportunity is retention," Brian Hofmann said. "You did the work to build that relationship with the borrower."

Operational benefits for the founders

For co-founder Mike Cox, the move reduces administrative burdens. He entered the mortgage industry in 2000 and spent around twenty years in retail lending before moving to the broker channel. As Mortgage Nerds expanded into multiple states, it had to manage licensing, compliance, audits, payroll, and other operational functions.

Joining NEXA will allow Cox to continue operating Mortgage Nerds while offloading some of those responsibilities. The company will continue to operate under its existing name on the NEXA platform.

Its affiliated third-party processing company, Processing Nerds, will remain independent. It will continue to serve mortgage brokers and originators nationwide, including loan officers from NEXA.

The founders stated they have often seen veterans discouraged from using their VA benefits. They attribute this to a lack of familiarity with the program among some real estate and lending professionals.