NEXA Branch Manager Career Opportunities
In this guide on NEXA career opportunities, we will cover and discuss why there are no other better career opportunities in the mortgage industry than there are at NEXA Mortgage. This guide is written by Gustan Cho and covers every aspect of what NEXA Mortgage has to offer to the right mortgage professional. We will be fully transparent and touch on why our team at Gustan Cho Associates merged with NEXA Mortgage and decided NEXA was our final home in the mortgage industry.
What Type of Loan Officer Is a Great Fit For NEXA Mortgage?
NEXA Mortgage is not for everyone. If you are looking to just hang your NMLS license and do one or two loans here and there, NEXA Mortgage will not be a good fit. However, if you are a goal-getter and want to open your owner mortgage branch and expand your mortgage career to the next level month after month, quarter after quarter, and year after year, NEXA will be Mortgage Heaven for you. This guide will cover many moving parts and will be long, so feel free to take your time reading every section of this guide carefully. Do not rush into making a decision until you are 100% confident that NEXA is the best fit for you. We are in no hurry. We are here to answer any questions you have.
Career Opportunities for independent loan officers and branch managers at NEXA Mortgage, LLC. We also have team agreements for loan officers who want to be part of a branch and join us at Gustan Cho Associates. Gustan Cho Associates is a dba of NEXA Mortgage LLC. NEXA Mortgage, LLC is licensed in 48 states including Washington DC, Puerto Rico, and the U.S. Virgin Islands (Not yet licensed in MA, NY). NEXA Mortgage, LLC has a lending network of over 190 wholesale mortgage lenders. Not only do we have dozens of lending networks with dozens of wholesale investors with no overlays on government and conventional loans, but we have dozens of lending partnerships with non-QM and alternative lending partners on primary homes, second homes, and investment properties.
Why Consider NEXA Mortgage For Your Career?
This blog will veer from discussions about mortgage programs or guidelines and focus on the difficult choice of being an independent or joining a branch once you’ve decided to join NEXA Mortgage, LLC. I will be telling you about my experience and how I came to a decision, I made, as you can see from the “about the author” section of my other writings and the fact that you will find me in the meet the team section of www.gustancho.com I chose to join a branch. Both pros and cons exist, and only you will know what is best for you. However, by the end of this blog, I want you to make an informed decision.
About Our Founders of NEXA Mortgage, LLC: Mike Kortas and Mat Grella
What Is NEXA Mortgage LLC?
NEXA MORTGAGE LLC is a full-service mortgage company located in Chandler, Arizona. NEXA is recognized as the top mortgage broker in the nation. With over 2,100 plus NMLS licensed loan officers, founders Mike Kortas and Matt Grella opened NEXA in 2017 with ten employees. CEO Mike Kortas has one goal in mind… To form the best of the best home for loan officers to utilize their God-Given talent and grow their business to the next level. Through dedication, strong business ethics, and the mentality of never losing, Mike Kortas and Matt Grella not only achieved their goal but surpassed their expectations. Mike Kortas had a mission and a foundation he was going to base NEXA Mortgage on: Have the states, the mortgage products, and the lowest rates in the industry. Mike Kortas has been called the Thomas Edison of the Mortgage Industry and we will tell you why. Read on, folks……
NEXA Has The Products
What good is being the best professional in any given industry without the inventory or products to offer your clients? It is like being a top-producing car salesman working for a car dealership but with little to limited inventory. Mike Kortas had a mission in mind. The competition never sleeps and what will make his newly born NEXA ahead of the competition: To have every available product available on the menu for owner-occupant primary homes, second homes, and investment properties. CEO Kortas, with a small team of 10 people saw a vision and took his inventory accessibility one step further. Why not offer commercial loans, SBA loans, hard money loans, and everything mortgage loans. NEXA even offers HELOCs, bridge loans, and all types of specialty loans.
NEXAs Lending Network of Wholesale Investors
NEXA has over 190 wholesale investors and access to any loan product on the market today. Because NEXA has grown so quickly over the last five years, it has established a standard in the mortgage industry with investors, loan officers, realtors, and many others, which allows NEXA to do things that other brokers CAN NOT DO! A huge asset of the NEXA group is its ability to conduct business in 48 out of 50 states. It is often said that “bigger isn’t always better,” but with NEXA Mortgage, that could not be further from the truth.
Leading NEXA By Example: Leaders Do What They Preach
Mike, Matt, and the team of upper management at NEXA pride themselves on building personal relationships with all their employees and strive to provide the best work environment in the industry. Along with the headquarters in Arizona, they have set up a virtual office that can be accessed from anywhere the internet is available.
NEXA Support System
NEXA has set up multiple channels for their employees, including LO Support, NEXA University, the NEXA Academy, and SMP, to provide a platform to make business as simple as possible. Also included in the virtual office are dedicated support areas such as human resources, tech support, payroll/accounting, and onboarding, amongst others. There is always somebody available to help. Along with all the products and support services, NEXA also offers medical, dental, vision, life insurance, legal services, and last but least, revenue share to their employees. After speaking with other brokers and keeping my options open, the decision to be part of NEXA was honestly a NO BRAINER!
Become a Business Owner and Run Your Own Independent Mortgage Branch
NEXA Career Opportunities As an Independent Loan Officer | Branch Manager
The best way to explain being independent of NEXA is that it allows you to “be your own boss” along with having corporate support backing you. I was asked to join two zoom meetings before I made my decision. I joined a meeting with Bill Burg, the head of talent acquisition, and the “WHY NEXA” meeting hosted by Mike Kortas himself. Both were very informative, impressive, and vital in my decision process. The best part of both virtual meetings was the question and answer segment at the end.
NEXA Mortgage CEO Michael Kortas
I have to add here the fact that I witnessed the CEO Mike Kortas host a meeting which he does every Thursday, and relate to a group of strangers the way he did. It was very admirable and further confirmed my decision. Being your own boss or owning your own business has both good and bad, and that is something you need to take into consideration. The comp plan as an independent will start at 220 bps for your first three million dollars of production. Between three and five million dollars, you will be paid 250 bps, and anything over 5 million dollars will earn you 275 bps for each month.
When I saw those numbers, I was in shock. Every broker I spoke with, in addition to NEXA, had comp plans of anywhere from 100 bps to 200 bps, depending on what perks were offered by each broker. In addition to the compensation plan, having access to the states, loan products, and the fact that the rates we get with NEXA will never be beaten, I’m sure you’re thinking, where do I sign? Another way NEXA separates itself from the competition is the willingness to hire new loan officers with zero experience.
In these cases, you will have to start out as an independent agent and attend the NEXA Academy before having the option of joining a branch unless a branch manager can get an exception approved. It is highly encouraged that all new loan officers take full advantage of NEXA Academy, as it is the best training program in the industry. HANDS DOWN! When owning your own business, however, there are always costs involved, commonly referred to as the “cost of doing business.”
Costs Associated With Being An Independent MLO | Branch Manager
I will now try to break down the costs of doing business as an independent in this section. The most logical place to start is all your licensing fees. As an independent agent, you are required to be licensed and sponsored by NEXA in any of the 48 states that NEXA is licensed. The initial start-up for that can be very expensive. Oftentimes, an agent will start out slow and gradually add licenses as their business grows.
Just remember that the fewer licenses you hold, the less opportunity you will have. There are some states that will require a surety bond and E&O insurance as well. Remember, all of your licenses have to be updated on a yearly basis, so in year two, you will have to do continuing education and will also be required to pay for all of your licensing renewals.
Potential Costs of Running Your Own P and L Branch
In addition, there are other expenses that you may not realize until you dig deeper into it, such as admin fees of 12%, In-House, and Corporate Tech Fees that can range anywhere from $100-$300 per month per loan officer, any CRM you may choose to use, marketing expenses, loan origination software, and the biggest expense could be your credit report fees. As in any business, you try to budget your expenses as much as possible, but there are certain expenses that are unavoidable.
Being independent will also mean you are solely responsible for all of your lead generation. Whether you build your business through realtor partners and referrals or if you choose to purchase paid leads, which can be extremely costly. I do want to take the time to tell you when it comes to lead generation. GateHouse Agency is the best around.
NEXA Career Opportunities Working For a Branch of NEXA Mortgage
The other option you may have is to work for a branch under NEXA. There are many groups led by branch managers who are empowered by NEXA Mortgage. The highest-producing branch is Gustan Cho Associates in Oakbrook Terrace, Illinois. Each branch is set up differently, but the concepts are the same. In this section, I will discuss working with Gustan Cho Associates because that is where I chose to join. I will share my story as it was a very recent experience, and when I talk to other interested loan officers, they often benefit from hearing it. I began the process of getting licensed and taking my pre-education classes in the spring of 2022.
During that time, I was trying to do as much research as possible, knowing that I was moving my family to Las Vegas from upstate New York in July. I had to have a plan before we upped and moved across the country. I, like most, turned to the internet to do all my research. No matter what I typed into a google search, I kept seeing Gustan Cho Associates on the first page of google regarding anything to do with the mortgage industry. I found a chat on the internet that involved a topic on their website and decided to join in.
The very next day, I received a call from Gustan Cho himself. I explained that I was in the process of getting licensed and was trying to do some preliminary research. If your seeing a pattern here, much like CEO Mike Kortas, Gustan Cho is very hands-on, and he took the time to speak to me. We agreed that once I passed my exam and was licensed, we would follow up. The day I passed my exam, I started making calls. Not only did Gus take my call, he remembered exactly who I was. We talked several times over the course of a few days as I was also meeting with other brokers. For some reason, I kept reverting back to Gus!
I’m a firm believer that everything happens for a reason and that certain things are meant to be. In this case, it could not have been more clear. The one thing that Gus did that shocked me more than anything else was he suggested that before I make a decision, I should meet with a friend of his here in Las Vegas who he said would be willing to take me on based on Gus’s recommendation. He wanted me to be informed and educated and wanted the decision to be made between my wife and me.
What Compensation Plan Is Best For Me at NEXA Mortgage?
I can honestly say that joining Gustan Cho Associates as the National Sales Manager and Mortgage Loan Officer was, in fact, the best decision I could have made. Now that my story is explained let me discuss how joining a branch works. The most important thing to remember, you are still a part of NEXA and have the benefits of everything NEXA offers. Here are the differences. As part of being tied to a branch, the compensation levels are different, but in lieu of that, all of your expenses are paid by the branch.
Compensation Working For a Branch Versus Being an Independent Loan Officer
For any loan you write that was self-generated, you will receive 125 bps, and loan that was written as a result of a branch-provided lead, you will earn 0.75bps. I know you’re probably thinking, “that is a lot less than what an independent would make”! And the answer to that is Yes, it is! What you can’t forget to understand, though, is that those payouts are NET, meaning all of my expenses, including credit reports, tech fees, marketing, lead generation, and CRM, are all provided by Gustan Cho Associates. Gustan Cho Associates, as a branch, is licensed in the same 48 states that NEXA is, and you will have access to all of them!
Why Gustan Cho Associates at NEXA Mortgage?
At Gustan Cho Associates, we have a once-in-a-lifetime career opportunity for experienced producing loan officers wanting to take their career to the next level by establishing a mortgage branch on a P and L, experienced loan officers wanting to become independent loan officers on a P and L, loan officers to be part of a regional branch licensed in 48 states with full support or brand new loan officers who are thinking of entering a new profession as a newly licensed loan officer. Gustan Cho Associates is also aggressively hiring experienced real estate agents who want to become dually licensed realtors – mortgage loan originators.
Where Do You Want To Take Your Career as a Licensed Loan Officer?
Gustan Cho Associates has career opportunities for branch managers, sales managers, licensed loan officers, loan officer assistants, loan officer trainees, real estate agents wanting to become dually licensed, and recurring business development managers. Gustan Cho Associates is hiring remote loan officers nationwide, including Washington DC, Puerto Rico, and the U.S. Virgin Islands.
What Gustan Cho Associates and NEXA Mortgage Has To Officer
Here are the bullet points on what we offer:
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- Five-star mortgage broker licensed in 48 states including Washington DC, Puerto Rico, and the U.S. Virgin Islands
- Over 190 wholesale lenders
- Wholesale mortgage lenders with no overlays on government and conventional loans
- Wholesale mortgage lenders in every niche loan program on non-QM and alternative financing loan programs H
- Have the opportunity to be part of Gustan Cho Associates, Inc., licensed in 48 states with brick and mortar branch headquartered in Oakbrook Terrace, Illinois with all expenses paid, or become an independent loan officer on your own P and L tied to corporate headquarters
- Custom-branded CRM for loan officers and their realtor partners
- Full health benefits include medical, dental, vision
- 401 k
- State-of-the-art marketing department custom-tailored to loan officers’ business model
- Qualified exclusive leads
- Newly licensed loan officers need to enroll in the mentor loan officer training program, at NEXA Academy
- We do require at least one year of full-time mortgage loan origination experience to be exempt from NEXA Academy
You Now Have The Keys To Set Your Career Path In The Mortgage Industry
Gustan Cho Associates currently has career opportunities in our Chicago offices as well as offsite satellite locations throughout the continental United States. Every single licensed mortgage loan officer has the opportunity to run their own mortgage branch. NEXA Mortgage, LLC will take a step further and gives each NEXA Mortgage, LLC loan officer the keys to take their goal and how far they want to take it.
Want To Run Your Own Mortgage Branch?
No maximum success limit. Do you want to open and run one branch, you got it. Do you want to open up 10 regional branches, you got it. 100 branches? You got it. NEXA gives you the keys, you decide where you want to take them to.
What NEXA Mortgage, LLC Has To Offer
We are currently accepting applications for the following:
- Experienced remote mortgage loan officers with at least one year of experience as a full-time mortgage loan originator
- Team leaders or loan officers who have goals in advancing their careers
- Sales Managers
- Branch Managers
- Loan Officer Assistants
- Licensed Mortgage Processors & Branch Support Personnel
At Gustan Cho Associates, we are passionate mortgage and real estate professionals with one goal in mind – make our employees, borrowers, and business associates our top priority.
Benefits of Working With Us at Gustan Cho Associates
One of the greatest benefits of working at Gustan Cho Associates is the full marketing and operations support we provide all of our licensed, support, and operations mortgage professionals. NEXA Mortgage, LLC, the parent of Gustan Cho Associates is the largest and fastest mortgage broker in the nation licensed in 48 states with over 190 wholesale lending partners.
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- We close 100% of all of our pre-approvals
- A loan officer will never be short of borrowers
- Our in-house web designers/developers, content writers, and marketing support team will custom design and create each loan officer with an optimized website and help brand each loan officer’s names
- Gustan Cho Associates has nationwide co-branding and co-marketing programs with realtor partners
- There is no cold calling required
- Our company does not just offer solid qualified leads
- We offer our loan officers borrowers who have been contacted, qualified, and scrubbed with income documentation provided as well as qualified credit
- Loan Officers will never have to worry about a lack of work
Why Choose Us at Gustan Cho Associates
Gustan Cho Associates has a nationwide reputation for not having lender overlays on government and conventional loans. We are known by many for being able to do mortgage loans another lender cannot do. Over 80% of our clients are borrowers who could not qualify at other mortgage lenders. Gustan Cho Associates has a national five-star reputation for being able to close loans where other lenders can’t.
- Our mission is to help one borrower at a time
- Most lenders will tell a borrower who does not qualify to come back a year or two later once their credit improves
- Our loan officers will evaluate each borrower’s credit and financial profile
- Borrowers who need some credit fix will be advised and counseled on how to improve and raise their credit scores
- One of our experienced mortgage professionals and/or the loan officer will work one on one with borrowers in getting the credit/income ready and meet mortgage guidelines so they are able to qualify for one of our loan programs
You are who you associate with. We are not looking for mortgage loan originators who just want to park their NMLS licenses. We are looking for go-getters who want to take their career path to the next level. We will work together, to help you market your brand, help you grow, and take your business growth to the next level. Contact us at gcho@gustancho.com or call us at 262-627-1965. Text us for a faster response. We can guarantee you that you will definitely not be disappointed!!!
Which Choice Is Best For Me?
As I previously mentioned, there is no right or wrong decision here. NEXA has set the bar in the Mortgage Industry, and there is no better choice. What you have to decide is what is best for you based on your financial situation, business plan, and the foundation you have. It would be a pleasure to discuss this further with anyone interested in joining NEXA, and I will certainly do my best to guide you through the process. With the current state of the economy, many loan officers are feeling discouraged and are looking for ways to “right the ship .”This is the epitome of being the “perfect time” to join NEXA and be ready for when the market turns.
