NEXA Lending Names New CEO as Mike Kortas Takes Executive Partner Role

NEXA Lending has announced a significant leadership transition, elevating Geri Farr to the role of Chief Executive Officer while Mike Kortas moves into the newly created position of Executive Partner. The change marks a strategic shift aimed at separating the operational management from the visionary leadership, allowing Kortas to focus on innovation and future growth.

Farr, who joined NEXA in 2025 after a career in leading organizations through growth and transition, will take the helm. She brings a wealth of experience from both wholesale and distributed retail, aligning her expertise with NEXA's mission to create better economics, greater optionality, and more opportunities for loan officers.

Kortas, who has been a driving force behind NEXA's success, will step down from the CEO role to focus on his role as Executive Partner. Known for his visionary thinking and relentless pursuit of new ideas, Kortas emphasized that his role change is not about stepping away but about fully embracing the position he has long held. "I have never cared about being called CEO," Kortas said. "I care about growth, winning, and finding new ways for our loan officers to make more money. Geri is better equipped to run this company day to day, and my ego is not big enough to pretend otherwise."

The relationship between Farr and Kortas dates back nearly two decades, beginning when Farr was Kortas’s manager at NOVA Home Loans. Now, as CEO, Farr will ensure NEXA has the leadership, discipline, infrastructure, and execution necessary to support Kortas and the other Executive Partners as they continue to innovate and drive the company forward. "My responsibility as CEO is to make sure NEXA has the leadership, discipline, infrastructure, and execution necessary to support where Mike and our Executive Partners want to take us next," Farr stated.

Kortas will now focus on building, challenging existing models, and creating new opportunities, including exploring acquisitions and partnerships that can increase the economics available to NEXA loan officers. "The Executive Partner role is not another C-suite title," Kortas explained. "It is intentionally bigger than one. It is about helping shape the future of the organization and creating new opportunities."

NEXA has intentionally assembled an experienced executive team around Farr to support her in her new role. Chief Administrative Officer Rana Mortensen, NEXA’s first employee, has spent the past year working closely with Farr and remains one of the organization’s most cherished leaders. Chief Operating Officer Jason duPont, who was elevated into the C-suite in 2025, continues to lead operations and one of the Executive Partners alongside Kortas. Chief Strategy Officer Tammy Richards, who shares a longstanding professional relationship with Farr, will continue to develop new business concepts and identify strategic partnerships. Chief Financial Officer Von Maharaj, who joined the organization after a rigorous due diligence process, will support the financial aspects of the company.

The new structure at NEXA is designed to provide Executive Partners with the ability to focus on innovation and growth while giving the CEO the operational expertise needed to execute. "Executive Partner is earned through proven leadership and the ability to help shape the future of the organization," Kortas said. "That distinction is central to my decision."

NEXA believes this structure can serve as a model for other successful mortgage company owners, offering a third option: proven owners and leaders can potentially earn their way into the Executive Partner structure, allowing them to relinquish much of the day-to-day operational burden while continuing to recruit, innovate, and build teams. "The goal is to create a company where the CEO does not have to be the loudest person in the room, and founders do not have to protect a title," Farr noted. "Everybody should be operating where they create the most value."

With Farr at the helm and Kortas and the Executive Partners focusing on innovation and growth, NEXA is poised to continue its expansion. The company is expanding its platform, compensation models, technology, servicing opportunities, and strategic partnerships. "We are building a company where the CEO does not have to be the loudest person in the room," Farr said. "Everybody should be operating where they create the most value."

The leadership transition underscores NEXA’s commitment to creating a more flexible and innovative environment for loan officers and the broader mortgage industry.