Frank Codispoti | NEXA Mortgage | NMLS 1653667 Reviews 6

I have been with NEXA MORTGAGE since February 24th, 2022. The reason NEXA Mortgage is hands down the best mortgage company in the United States 🇺🇸 is because of CEO MIKE KORTAS. CEO Kortas is a phenomenonal leader and is a hands on leader. From day one, CEO Mike has never told me what to do, how to do it, or give anyone from my team what to do. CEO Kortas gives you the keys 🔑 to the drivers seat and let you run your Branch the way it's best for you. NEXA Mortgage is the best mortgage company in the nation. It's better than having your own mortgage shop. On the flip side, if you need help or are struggling, CEO Mike is available anytime 7 days a week to help you. Can't say or don't have the words how grateful we are of CEO Mike Kortas and NEXA MORTGAGE. Highly recommend 👌 👍 👏. FIVE plus stars.

I worked (or lack of) from 05/01/2024 and requested to be offboarded on 06/18/2024 because of the fees.
07/17/2024 was sent a $358.00 invoice was sent from a NEXA debt collector.
I did not subscribe to any optional services or products nor did I pull credit.

*****Please beware of fees*****
DO NOT I REPEAT DO NOT COMPLETE The Credit Card Authorization Form.

Onboarding Credit Report Fee is $77
Software/Tech fee: $80 @ 2500 LOs = over 200K per month 2M+ per year.
Onboarding License Fee: $40.00
My branch Fee was $41.67

Academy cost 70 BSP (0.70%) + 12% Not to exceed 49% of the gross Originating Student LO’s for the 1st 12 loans
The maximum Academy transaction fee is $3000.00

Borrower Credit Report $77 EACH

Additional needed to be productive with NEXA

Website Fee $120
Polly $61
CRM Software????
Rate & Lock software $75.00 +

You will need to join the academy to understand how to process, produce, and maneuver platform. Monthly charges and fees will still be incurred.

Constantly pressured, pushed, required to recruit OTHER LOs.

New NEXA 100 Program you will be required to recruit Recruit RECRUIT. This effects your commission BIG TIME.

Within the company there is AXEN and NEXA you will not understand who why?

Constant arrogant threats and corporate bullying from owner in weekly meeting.

Constantly reminded that the struggling or non producing LOs (that are paying all those fees) will be replaced as soon as they onboard 2500 more LOs during their mass recruiting from NEXA 100

The owners are splitting and involved in a lawsuit
published here
As of May 2024
NEXA co-founders clash over jet spending and contractual rights.

Last week, NEXA co-founder and CEO Mike Kortas announced the termination of his fellow co-founder and company president Mat Grella, which occurred after Grella requested a buyout of his ownership interest. On Monday, Grella shared a statement in an email sent to NMP regarding his buyout request and eventual termination, as well as the lawsuit he filed against Kortas.

The involvement of Amanda, as a party to the buyer's lender, has led to our closing date being rescheduled multiple times, causing significant distress for both our family and the buyer's family. We have been without homes and personal property, missed important work events, and incurred substantial expenses for food and lodging over the past 7 days. Our children and animals have been displaced, and our daily routines and continuing education programs have been negatively impacted. Amanda's actions have not only caused hardship for two families, but have also inconvenienced several professionals, including our lender, realtors, the sellers of our new property, and the title company. Despite not being our lender, Amanda has had a significant impact on our lives and the lives of many others. As of now, both the buyer and our family are without a place to live, 6 days after our original closing date. Amanda's unprofessionalism, lack of dependability, and failure to be held accountable for the hardship she has caused are unacceptable

If I could rate this company with a negative amount of stars, I would.

What an absolute disaster of a company. Stay away from Nexamortgage, Axenmortgage (same company) and Michael Tracy.

Roped us around for 3 weeks, gave us nonsense information that actually made my credit score decrease, then wanted us to pay another $300 to pull my scores again.

All in all, I've spent THOUSANDS of dollars per Michael Tracy and have nothing to show for it.

I do have ALL of the screenshots and would be more than happy to provide them to everyone who wants to see them.

The owner of the company omitted a very key piece of information during the recruiting process with me about bringing my team over. I had five employees in addition to myself that were joining me and we spoke at length about how we could arrange their compensation plans. What he neglected to tell me was that I was going to need to write NEXA a check for $892 for each of those five employees to set up a reserve account for them. Anyone in our industry knows that 2022 has been a historically bad year. I don't just have a spare $4500 laying around. That should have been told to me BEFORE I came over to the company. Instead, I found out after I was already on board and my team was no longer employed by our previous company. There's nothing okay about that order of events. When I went to the owner about this he tried to make it seem like I didn't explain that my production numbers were down this year and that's why this was happening. Well, everyone's production numbers are down this year. The mortgage industry is at a 25 year low in applications. He also never bothered to ask me my production numbers during that call so I couldn't misrepresent something I was never asked. Regardless of them being down, why wouldn't the owner of a company think something like writing a $4500 check something worth mentioning to a prospective recruit? Anyone coming over from the retail world to the broker side isn't used to writing checks just to bring a team with them. It's not the kind of thing we would think to ask. I've never heard of another company charging the manager to bring over their team. It's definitely not SOP in the mortgage industry.