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NEXA CEO urges loanDepot loan officers to switch, cites stock slide
The Facebook post includes a screenshot showing loanDepot shares at $0.97 as of July 30, down 30.5% on the day and 96.9% from its all time high.
HousingWire reports that NEXA CEO Mike Kortas used a Facebook post to urge loanDepot loan officers to move to NEXA, offering incentives including a year of NEXA100 membership and a signing bonus.
Kortas’ post also criticized loanDepot’s strategy and its ongoing litigation involving mortgage brokerages, while promoting NEXA’s compensation, pricing, product offerings, and residual income opportunities.
In the post, Kortas included a screenshot of loanDepot stock performance, showing shares trading at $0.97 per share as of July 30, down 30.5% for the day and 96.9% from its all time high, and warned the company could face delisting risk.
HousingWire also notes the post linked to an open letter to loanDepot’s board from Randian Capital, urging a formal review of strategic alternatives that could include a potential sale amid declining share prices and continued losses.