Кредитование NEXA Генеральный директор Mike Kortas is in the process of acquiring several shell companies to build joint ventures, he said in an exclusive interview with ЖильеПроволока в понедельник.
“They are for multiple JVs with large teams, agencies, builders and strategic partnerships,” Kortas said without providing details on each transaction, which he said will be announced separately. “The main goal is more volume for NEXA.”
NEXA has been the subject of several rumors in the past few weeks regarding its business activity. Several comments on LinkedIn suggested that Kortas was selling NEXA, going fully into retail and dissolving his relationship with Объединенная оптовая ипотека (UWM). All of those, Kortas said, are false.
“Everybody thinks I’m going into retail, but I’m not, nor am I going into delegated [correspondent lending]. Going into retail would destroy what I’m doing with NEXA…you got to remember something about me: I was homeless as a kid, at 18 years old, I was sleeping on the streets….I got more than I ever anticipated. I am happy with what I have. I don’t need more.”
JVs have been popular with companies like Ставка, which is a strategy Kortas says he’s picked up on because these structures are “high converts” and can be “very lucrative.” In addition, they bring more transactions to the wholesale space, increasing its market share, he added.
“The JVs also bring more volume to wholesale, and it doesn’t matter to me who you choose. I mean, I prefer you choose NEXA, but if you do go to Edge, or you go to some other big broker, it doesn’t matter to me, because all you did is bring more attention to the entire wholesale channel…the more you’re talking wholesale, the more I’m winning.”
Arizona-based Кредитование NEXA originated about $11 billion in the last 12 months, Kortas said. The company had 3,453 sponsored loan officers and 242 active branches as of Monday, per the Общенациональная многоштатная система лицензирования (НМЛС).
Kortas said that the JVs are with builders and real estate companies, as well as a few “key” partners. He did not confirm a deal for an LLC with Movement Mortgage, a story reported by The Mortgage Scoop, since he cannot confirm which entities or who he is buying what from. Movement Mortgage did not immediately respond to HousingWire’s request for comment.
Many of the shells are small. Kortas said he’s buying multiple mortgage brokers that are two-state shops, and a lot of them are already at NEXA. The only interest, in this case, is that the shops have been open for at least two years, so he can get U.S. Department of Housing and Urban Development (HUD) approvals.
“Then, some of them, I’m looking at different processing companies, and I’ll sell the assets off to other processing companies and keep the shell. I just want the licenses at the end of the day, because time is something I can’t buy, and it takes time to get licenses.”
Regarding NEXA’s recent hiring of industry leaders — for example, Тэмми Ричардс и Todd Bitter — Kortas said they “have absolutely nothing to do with these acquisitions.” According to him, “The new hires have helped me get into [the JVs], but the new hires are specifically for NEXA.”
Флавия Фурлан Нуньес предоставила репортаж.
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