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NEXA Lending launches NEXA Unlimited, giving loan officers 100% revenue
The new model removes multiple transaction-level charges, and it does not require the downline production threshold used in NEXA’s existing NEXA 100 program.
NEXA Lending launched NEXA Unlimited, a compensation model that the Arizona-based mortgage brokerage says gives loan officers access to 100% of revenue from NEXA loans without transaction-level fees. HousingWire reports the program eliminates flat fees, per-file fees, correspondent funding fees, additional margins, purchase advice charges, and closing fees on NEXA loans.
The company said NEXA Unlimited is separate from its existing NEXA 100 program, which also pays loan officers 100% of commission splits but ties eligibility to a production requirement. Under NEXA 100, at least one loan officer in a loan officer’s downline must fund one loan per month, while that requirement does not apply to NEXA Unlimited.
NEXA said loan officers enrolled in NEXA Unlimited can receive 100% of revenue from their first loan, with no minimum volume or recruiting threshold. CEO Mike Kortas said the company is aiming to ensure loan officers who produce, build relationships, serve borrowers, and generate revenue have access to all of it.
NEXA also said it intends to challenge transaction-based economic structures used by independent mortgage companies, including flat-fee models. HousingWire reports the brokerage attributed its ability to offer the structure to its scale, production volume, and lean operating structure, adding that it has more than 4,000 loan officers.