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NEXA Lending Appointed New CEO Under Hybrid Business Model

The mortgage lender has named a new chief executive while expanding its unique model that allows loan officers to share in servicing revenue.

Updated on Oct. 1, 2026 in Real Estate — General

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NEXA Lending has appointed Geri Farr as its new chief executive to oversee the company's expansion of its mortgage servicing revenue model. AI Illustration. Upload story photo >

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NEXA Lending, a nationwide mortgage company, has appointed Geri Farr as CEO to lead its hybrid business model. The strategy allows the firm's 4,122 loan officers to earn a portion of revenue from mortgage servicing rights.

Why it matters

By allowing loan officers to share in mortgage servicing rights revenue, the company aims to change how mortgage professionals earn income from long-term loan servicing. This shift offers a new model for homeowners to consider when selecting a lender for their financing needs.

As of October 2026, the company operates with 4,122 sponsored loan officers and maintains relationships with 320 investors. The firm distinguishes its model by explicitly prohibiting early payoff fees.

The players

Geri Farr

Appointed as the CEO of NEXA Lending in September 2026 to lead the organization's nationwide operations.

Mike Kortas

The founder of NEXA Lending who has transitioned to the role of executive partner.

NEXA Lending

A national mortgage lender known for its hybrid business model that integrates wholesale and retail lending.

evoLend

The subsidiary of NEXA Lending that manages mortgage servicing rights for the parent company's loans.

The details

NEXA Lending functions through a hybrid structure that combines wholesale and retail lending operations. Loan officers have the autonomy to select specific wholesale lenders for their files, while the company transfers mortgage servicing rights to its subsidiary, evoLend. This structure supports the company's plan to pursue co-ownership models for these rights with wholesale lenders.

Timeline

  1. 2017: Mike Kortas founded the organization.

  2. Early September 2026: Geri Farr was appointed as the new CEO.

  3. October 2026: The company confirmed its count of 4,122 loan officers.

The Home Front

This appointment marks a strategic shift toward internalizing mortgage servicing revenue within the competitive non-bank lending sector. The move aligns with the broader industry trend of lenders seeking to retain servicing rights as a primary value-add for their loan originators.

When evaluating lenders, homeowners should always inquire about any potential early payoff fees that could affect future refinancing or selling plans. Because this company does not charge these fees, consider how that policy compares to other offers when finalizing your loan documentation.

The takeaway

The leadership transition at NEXA Lending reflects a continued focus on professional autonomy for loan officers in the mortgage market. If you are comparing lenders, review the loan estimate document to confirm the details of your specific interest rates and any potential fees related to your loan.

Further reading

For more information on the current mortgage environment, visit our Real Estate — General section.

Source note: This article includes information reported by HousingWire.

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Would you prefer a compensation model that includes long-term mortgage servicing rights revenue?