Mortgage broker unveils "boldest" compensation plan yet
NEXA Mortgage has announced a new compensation plan that allows its mortgage loan officers (MLOs) to keep up to 100% of their commission splits.
The program, called NEXA100, lets loan officers earn the full commission amount on each loan they originate without any per-file fees or hidden charges deducted.
“NEXA100 is the most competitive game changer in the mortgage loan industry,” NEXA founder and CEO Mike Kortas (pictured) said in a Press release. “It gives our loan officers a shot at making 100% of the loan commission, including a reinvestment into their business. And the greatest thing about NEXA100? Our loan officers will still be giving our clients the best mortgage rates in the industry.”
The Arizona-headquartered broker said the new program represents a radical departure from traditional mortgage industry compensation models that typically see companies keeping a substantial cut of loan officers’ commissions. Since its founding in 2017, NEXA Mortgage has grown to over 2,500 loan officers nationwide.
“NEXA100 is about giving our teams of loan officers and branch managers trust,” said Jason duPont, branch manager and NEXA executive partner. “Our teams will get up to 100% of NEXA revenue so they can grow their businesses on their own. We can only do that because of our deep knowledge of revenue origination and cutting-edge techniques.”
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Michael Neill, NEXA’s director of correspondent lending, highlighted the boldness of rolling out such an aggressive commission structure.
“This is probably the boldest program we’ve launched because it goes against the fear that, if you give too much of the split to loan officers, you do not have anything left to run the company,” Neill said. “We don’t believe that.”
NEXA Mortgage is headquartered in Chandler, Arizona, with additional offices in 48 states, Puerto Rico, and the Virgin Islands. The company assists clients with home purchases, relocations, refinancing, investment properties, and commercial financing. NEXA’s services include quickly funded home purchase loans, refinance rates, rate comparisons, property evaluations, and cash-out refinance options.
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