NEXA Lending Expands Market Scale with Acquisition of UMortgage
NEXA Lending has finalized an asset purchase agreement to acquire rival mortgage brokerage UMortgage, bringing an end to a high-profile public rivalry between the leadership of two prominent independent broker shops. Financial terms of the transaction remain undisclosed, but NEXA CEO Mike Kortas confirmed that contracts are signed and funds have been transferred. Under the terms of the asset acquisition, UMortgage as a corporate entity will be phased out by the end of 2026, though individual production teams will retain the option to operate under the UMortgage brand as a doing-business-as designation.
The acquisition significantly reinforces NEXA's position as the nation's largest independent mortgage brokerage platform. By absorbing UMortgage’s roster of 246 loan officers—who collectively generated $2.05 billion in mortgage originations over the previous 12 months—NEXA expands its nationwide network to 4,047 loan officers and boosts its aggregate annual volume to $14.15 billion. In addition to individual loan originators, regional units such as NXT Mortgage, led by Tyler Hodgson, are transitioning to NEXA without reported staff reductions.
Loan officers moving from UMortgage will undergo notable operational and compensation changes. UMortgage previously introduced a flat-fee origination model, but transitioning loan originators will now shift to NEXA’s 100% commission split model, known as NEXA 100. Meanwhile, UMortgage’s proprietary technology software, Tempo, will not be retired. According to outgoing UMortgage CEO Anthony Casa, plans are underway to spin Tempo off into an independent technology platform, with the intent to license it to mortgage professionals outside of NEXA's network in the future.
The deal highlights broader market dynamics within the mortgage origination space, where scale and operating efficiencies are increasingly driving consolidation among non-bank originators. Casa and three other executives—Jimmy Hobson, Nash Paradise, and Tyler Hodgson—will join NEXA as executive partners. In his new capacity, Casa will focus on recruiting, corporate culture, sales feedback, and identifying future broker acquisition targets for NEXA.
For mortgage originators, real estate agents, and prospective homebuyers, this consolidation reflects how independent mortgage brokerages are restructuring to maximize efficiency in a challenging housing market. Independent loan officers operating within smaller brokerages may see continued incentive to migrate toward larger platforms capable of delivering broader technology infrastructure and aggressive commission structures. For real estate investors and residential buyers, the merger underscores how mortgage originators are seeking lean back-office support to maintain execution speed, though individual borrower experience will remain heavily dependent on individual loan officer relationships.
Source: HousingWire
