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WHY NEXA ZOOM CALL WITH CEO MIKE KORTAS
Here is the link to WHY NEXA MORTGAGE ZOOM CALL EVERY THURSDAYS at 1 PM CEO MIKE KORTAS at 1 pm CDT
https://www.zoom.us/j/4802285442
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I will be joining WHY NEXA this afternoon and can’t wait to meet CEO Kortas this aft
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There’s no holidays for CEO Mike Kortas, Chief Executive Officer and President of NEXA Mortgage and it’s subsidiary companies
Like clockwork, CEO Mike will be live at 1:00 PM CDT, 11 AM Arizona Time. Guests can ask any questions to the man himself, CEO Kortas
Here’s the link for our WHY NEXA WITH CEO MIKE KORTAS at 1 PM CDT FOLKS
SEE YOU ALL THERE.
https://www.zoom.us/j/4802285442#success
zoom.us
Join our Cloud HD Video Meeting
Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. Zoom Rooms is the original software-based conference room solution used around … Continue reading
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WHY NEXA MORTGAGE WITH CEO MIKE KORTAS ZOOM CALL EVERY THURSDAYS AT 11 AM ARIZONA TIME. CEO MIKE KORTAS OF NEXA MORTGAGE WILL ADDRESS POTENTIAL NEW LOAN OFFICERS WHY NEXA MORTGAGE BECAME THE LARGEST MORTGAGE BROKER IN THE COUNTRY AND ABOUT NEXA MORTGAGE’s GOAL TO HAVE AN ARMY OF 5,000 NMLS LICENSED MORTGAGE LOAN ORIGINATORS WITHIN THE NEXT 18 MONTHS.
https://gustancho.com/mlo-revenue-share-residual-income/
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MLO Revenue Share Residual Income For Loan Officers
Loan officers at Gustan Cho Associates will have the opportunity to participate in the MLO Revenue Share Residual Income, up to $3 million down.
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The residual revenue share compensation program at NEXA Mortgage for NMLS licensed mortgage loan originators is designed to provide ongoing income opportunities beyond the traditional commission structure. Here’s a detailed look at how it works:
Residual Revenue Share Program Overview
Earning Residual Income: Loan originators at NEXA Mortgage can earn residual income through the company’s revenue share program. This program allows loan officers to receive a portion of the revenue generated by the loan originators they recruit and mentor.
Recruitment and Mentorship: When a loan originator recruits a new loan officer to join NEXA Mortgage, they become the mentor or sponsor for that recruit. The mentor provides guidance, training, and support to help the recruit succeed.
Revenue Sharing Structure: The residual revenue share is a percentage of the loan originators’ revenue in the mentor’s downline. This means that as the recruits close loans and generate revenue, the mentor receives a percentage of that revenue as residual income.
Multiple Levels of Revenue Share: The program is designed to incentivize the creation of a broad and deep network of loan originators. Mentors can earn residual income from their direct recruits and recruits brought in by their downline. This multi-level structure encourages mentors to support and grow their teams actively.
Continuous Income Stream: The residual revenue share program provides a continuous income stream for loan originators, creating financial stability and rewarding long-term engagement with the company. As the downline network grows and generates more revenue, the residual income for the mentor increases correspondingly.
Performance-Based Incentives: The program may include additional incentives and bonuses for loan originators who achieve specific recruitment and production targets. This further motivates loan officers to expand their networks and contribute to the company’s growth.
Benefits of the Residual Revenue Share Program
Long-Term Financial Benefits: Unlike traditional commission-based income, which is transactional and dependent on individual loan closures, the residual revenue share program offers long-term financial benefits. Loan originators can build a sustainable income stream that grows over time.
Enhanced Collaboration and Support: The program encourages collaboration and support among loan originators, as mentors are financially motivated to help their recruits succeed. This creates a positive and supportive work environment where knowledge and best practices are shared.
Career Advancement Opportunities: NEXA Mortgage’s loan originators have clear pathways for career advancement through the recruitment and mentorship aspects of the program. By building and managing successful teams, loan officers can elevate their roles within the company.
Increased Motivation and Engagement: The residual revenue share program enhances motivation and engagement by aligning loan originators’ financial interests with the company’s growth objectives. This alignment helps drive overall performance and success for individuals and the organization.
How to Participate
To participate in the residual revenue share program, NMLS licensed mortgage loan originators at NEXA Mortgage should focus on the following steps:
Recruit New Loan Officers: Actively recruit new loan officers to join NEXA Mortgage. Leverage personal and professional networks to identify potential candidates.
Provide Mentorship and Support: Offer comprehensive mentorship and support to recruits, ensuring they receive the necessary training and resources to succeed in their roles.
Track Performance: Monitor recruits’ performance and the revenue generated by the downline network. Stay engaged and provide ongoing support to maximize the team’s success.
Achieve Performance Targets: Aim to meet or exceed recruitment and production targets to qualify for additional incentives and bonuses within the residual revenue share program. Overall, the residual revenue share compensation program at NEXA Mortgage provides a unique and lucrative opportunity for NMLS-licensed mortgage loan originators to build a long-term income stream while contributing to the company’s growth and success.
https://gustancho.com/mlo-revenue-share-residual-income/
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This reply was modified 4 months, 1 week ago by Gustan.
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MLO Revenue Share Residual Income For Loan Officers
Loan officers at Gustan Cho Associates will have the opportunity to participate in the MLO Revenue Share Residual Income, up to $3 million down.
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This reply was modified 4 months, 1 week ago by
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Compensation systems can considerably differ from one organization to another and change over time. In order to get precise and current information about NEXA Mortgage’s residual revenue share program, I suggest reaching out directly through their official website or HR department and talking to a NMLS licensed loan originator currently working there as well as looking into any compensation information available in NEXA’s job postings or recruitment materials which are made public. There are many different components of mortgage companies pay structures such as base salary, commissions, bonuses and various incentives among others. For instance; it is common that residual revenue sharing programs allow for continuous payment of originators’ loans even after they have been closed initially. But what exactly happens at NEXA Mortgage would need verification from somewhere credible so this is just general knowledge about common practices in the industry related to compensation for mortgage loan officers(MLOs).
Base Salary: A few MLOs may receive a base salary but it is not offered by all lenders universally hence its amount may vary greatly according to ones level of experience as well as the company involved.
Commission: These are generally known as core parts of most MLO compensation plans where they usually take up percentages calculated against either loan amounts or total revenues generated from loans though this percentage could be different depending on factors like types of loans being dealt with among other things.
Basis Points (BPS): Sometimes commissions are expressed using basis points which show how much should be given for each 0.01% increase in loan size.Therefore if we had an example that reads 100 BPS on a $200K then we can easily calculate $2k.
Tiered Commission Structures: In some instances higher commission rates might be given by lenders when certain production thresholds have been achieved by loan officers within their employ.
Bonuses: May apply during certain periods e.g when new customers come in or specific sales targets are met etc.
Revenue Share: This is just like what you said about NEXA but here MLOs earn a percentage of company’s revenue from the loans they originate which is sometimes even beyond closing dates.
Override: When junior officers are being supervised or mentored by senior ones, there could be override commissions awarded to them based on production.
Benefits: Even though not directly considered as part of remuneration packages these benefits such as health insurance plans, retirement schemes and paid leave days off etc still play significant roles in an employee’s life.
Draws: Some companies may provide draws against future commission earnings thus ensuring that loan officers have more consistent income streams however this has to be repaid back out of subsequent paychecks obtained later on.
Residual Income: Few lenders offer payments over lifetime of loans for example.
https://gustancho.com/careers/
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Mortgage Branch Manager Opportunity Careers
Mortgage Branch Manager Opportunity Careers for goal oriented licensed loan officers. Start as an independent loan officer on your own P and L
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Here is some basic information on common pay structures in the mortgage loan originator industry.
Base Salary – Not all MLOs receive a base salary. The amount of this salary can vary greatly depending on the company and how long the MLO has been in business.
Commission – Most MLO compensation plans are heavily based around commission. This could be a percentage of the loan amount or total revenue generated by the loan. However, these percentages may change depending on type of loans closed (FHA, Jumbo, etc.), volume (number of loans closed), or other factors determined by each company.
Basis Points (BPS)– Many times commissions will be expressed in basis points which is 1/100th percent. For example 100 BPS on a $200k loan would equal $2,000.
Tiered Commission Structures – Some companies offer different percentage amounts as thresholds are met throughout production months.
Bonuses – Bonuses may be given for certain goals being reached such as new clients brought into the company or during specific promotional periods.
Revenue Share – Similar to what you mentioned about NEXA; this allows MLOs to earn a percentage of their company’s revenue from loans they originated even after they’ve left the company (sometimes indefinitely). Some companies offer override commissions to senior loan officers based on production from junior officers they manage/mentor.
Benefits – Although not direct compensation, health insurance, retirement plans, and paid time off should always be considered part of your overall package with any employer!
Draws – Draws are offered by some employers against future commissions; these provide more stable income but must be repaid out of future earnings.Tread lightly here and know that it could affect your W-2 if mismanaged.
Residual Income – In rare cases lenders may pay LOs an ongoing payment throughout life-of-the-loan.
These are subject to FEDERAL REGULATION! Comp cannot be based on loan terms (other than amount) thanks to Dodd Frank. This means that all MLO’s at a company MUST have the same base points paid to them for every loan closed in each branch regardless of what is charged or made on any single deal!
The mix and details of these components can vary greatly between companies, and may even be negotiable for top-performing loan officers. Always verify the exact terms with the company in question!
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Michael Kortas is NEXA Mortgage’s founder and CEO. I don’t have any specific information on the internal payment systems of NEXA or Michael Kortas’ style of management but here are some general things about his position and the company;
Founded NEXA Mortgage: Michael Kortas created NEXA Mortgage, which has grown into a major player in the mortgage industry.
Leadership: As CEO, it falls under Kortas’ purview to set overall direction and strategy for NEXA Mortgage
Industry Experience: Having held such a high-ranking position, he most probably boasts a wealth of experience in both home financing and real estate sectors.
Company Growth: In recent years many successful mortgage companies including but not limited to those under Michael’s stewardship like NEXA Mortgage have experienced tremendous growth.
Business Model: The main goal of companies such as NEXA Mortgages is to operate as intermediaries between borrowers looking for loans and different lenders who offer them so that they can find suitable product(s).
Technology Focus: Under Kortas’s leadership modern mortgage firms like NEXA place great emphasis on technology and digital solutions aimed at making the process of taking out a home loan more efficient.
If you want more information about Mike or specifics regarding operational policies/procedures at his organization (Nexa), please go through their official website(s) where such details may be available in addition to press releases issued by these institutions themselves which often provide updated accurate data about what they do or aim to achieve. Gustan Cho Associates is a DBA for Nexa Mortgage. We cannot confirm any direct relationship between Gustan Cho Associates with Mike Kortas or Nexa Mortgages at this point since this needs further research from reliable sources before I can give an answer. Here’s what I know so far; Gustan Cho Associates is known within the housing finance sector mainly because it deals with non-QM (non-qualified mortgage) loans and has an online presence where people can access educational materials about mortgages. Both Gustan Cho Associates and NEXA Mortgage (headed by Mike Kortas) are players in the mortgage industry thus they might have crossed paths professionally somehow but this does not mean that there is any collaboration between them or indeed any other kind of working relationship for that matter as far as I am aware. Different companies work together on various projects within sectors so it would not be surprising if two such organizations were found jointly participating in some activities related to their respective fields hence my recommendation is to look for joint ventures, common press releases etc., if available one could also try contacting either firm directly asking them what exactly went down concerning such matters plus checking news articles which may mention both names in case something happened recently. Best way to get accurate information about any specific association between Gustan Cho Associates and Mike Kortas or NEXA Mortgage would be to check official websites of both companies for any mention of partnerships or collaborations loo, King for any joint press releases or announcements and contacting either company directly for clarification and searching for industry news or reports that might mention both entities together. If you have heard about a specific association between these parties, verifying that information from official sources would be best. Do you want more general information about how mortgage companies often collaborate with each other?