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Michael Kortas, the Chief Executive Officer and co-founder of NEXA Mortgage snapped and decided to terminate co-founder Mat Grella before separation talks finalized. Co-founder Mat Grella, owner of 49.5% of NEXA Mortgage, LLC. expressed interest in being bought out in November 2023 to spend more time with his family and young twin children. Mat Grella’s scope of work was to run the day to day operations of NEXA Mortgage, LLC and manage its 2,500 licensed mortgage loan originators while CEO Mike Kortas’s role was the visionary of NEXA Mortgage. Everyone at NEXA Mortgage knew CEO Kortas was the alpha male and had the ultimately say so on which direction the largest mortgage brokerage in the country will go.
Nexa Mortgage is a mortgage broker based in Chandler, Arizona, USA. It operates as a retail mortgage broker, connecting borrowers with a variety of loan products from different lenders. The company focuses on providing personalized service and support throughout the mortgage process. Nexa Mortgage aims to streamline the mortgage experience for homebuyers and homeowners looking to refinance. As of my last update in January 2024 Nexa Mortgage continues to operate in the mortgage industry. For the most recent information, it’s advisable to visit their official website or check recent news updates. As of my last update CEO Michael Kortas is the Chief Executve Officer with Nexa Mortgage in a specific role or capacity, but without further context, it’s challenging to provide specific information. If Michael Kortas has become relevant to Nexa Mortgage or the mortgage industry more broadly after my last update, I would recommend consulting recent sources or Nexa Mortgage’s official channels for accurate information.
Gustan Cho Associates is a dba of NEXA Mortgage, LLC. Gustan Cho NMLS 873293 is a well-known figure in the mortgage industry. Gustan Cho Associates is the founder and CEO of Gustan Cho Associates Mortgage Group, a mortgage brokerage firm based in Oakbrook Terrace, Illinois, USA. Gustan Cho is recognized for his expertise in mortgage lending and has a significant presence in the mortgage community, particularly in providing information and guidance to borrowers with unique financial situations or those seeking non-traditional mortgage products. Gustan Cho is also known for his contributions as a writer and educator in the mortgage field, often sharing insights and advice through articles, blog posts, and seminars. He has built a reputation for helping borrowers navigate the complexities of the mortgage process, especially those who may have been turned down for loans by other lenders.
As of my last update in January 2024, Gustan Cho of Gustan Cho Associates, headquartered in Oakbrook Terrace, Illinois NMLS 2315275 continues to be an influential figure in the mortgage industry, offering guidance and assistance to borrowers through his mortgage brokerage firm and online platforms. For the most current information about Gustan Cho and his contributions to the mortgage industry, it’s advisable to refer to his official website or other reliable sources. Gustan Cho is a mortgage banker and the founder of Gustan Cho Associates, a mortgage company based in Oakbrook Terrace, Illinois, United States. Licensed in 48 states including Washington, DC, Puerto Rico, and the U.S. Virgin Islands, here are some key points about Gustan Cho:
- Experience: Cho has over 20 years of experience in the mortgage industry, working as a loan officer, branch manager, and mortgage broker.
- Expertise: He specializes in helping clients with unique or challenging financial situations secure mortgage loans, such as those with low credit scores, high debt-to-income ratios, or non-traditional income sources.
- Blog and online presence: Cho maintains a blog and a YouTube channel where he shares his knowledge and insights about the mortgage industry, providing advice and answering common questions from homebuyers and homeowners.
- Author: He has written a book titled “How to Qualify for FHA Loans for FHA Manual Underwriting Mortgage Guidelines,” which provides guidance on navigating the FHA loan process.
- Media appearances: Cho has been featured in various media outlets, such as Forbes, The Mortgage Reports, and the National Association of Mortgage Brokers, discussing trends and issues in the mortgage industry.
- Industry recognition: Gustan Cho Associates has been recognized as one of the top mortgage companies in the United States by various industry publications and organizations.
- Education and certification: Cho holds a Bachelor’s degree in Business Administration and is a certified mortgage planning specialist (CMPS) and a certified mortgage consultant (CMC).
Throughout his career, Gustan Cho has focused on helping clients achieve their homeownership goals by providing personalized service and expert advice in the mortgage industry.
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Dengue fever is a mosquito-borne viral infection that is common in tropical and subtropical regions around the world. Here are some key points about dengue fever:
- Cause: Dengue fever is caused by the dengue virus, which belongs to the Flaviviridae family and has four distinct serotypes (DENV-1, DENV-2, DENV-3, and DENV-4).
- Transmission: The virus is primarily transmitted to humans through the bite of an infected Aedes mosquito, particularly Aedes aegypti.
- Symptoms: Dengue fever symptoms usually appear 3-14 days after the mosquito bite and may include high fever, severe headache, pain behind the eyes, muscle and joint pain, nausea, vomiting, swollen glands, and rash.
- Severity: Most people recover from dengue fever within a week. However, some may develop a more severe form called dengue hemorrhagic fever, which can cause severe abdominal pain, persistent vomiting, bleeding, and breathing difficulty.
- Diagnosis: Dengue fever is diagnosed through blood tests that detect the virus or antibodies to the virus.
- Treatment: There is no specific treatment for dengue fever. Patients are advised to rest, stay hydrated, and take acetaminophen for fever and pain relief. Aspirin and nonsteroidal anti-inflammatory drugs (NSAIDs) should be avoided due to the risk of bleeding.
- Prevention: The best way to prevent dengue fever is to avoid mosquito bites by using insect repellents, wearing protective clothing, and eliminating mosquito breeding sites (standing water).
- Vaccine: A dengue vaccine (Dengvaxia) is available in some countries for individuals with a history of dengue infection. However, its use is limited due to potential side effects in people who have never been infected with dengue.
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A car lease can impact your ability to get a mortgage in several ways:
- Debt-to-Income Ratio (DTI)
- Lenders consider your monthly lease payment as a recurring debt obligation when calculating your debt-to-income ratio (DTI).
- A higher DTI due to the car lease payment may make it more difficult to qualify for a mortgage or limit the loan amount you can borrow.
- Typically, lenders prefer a DTI below 43% for qualified mortgages.
- Credit Score
- If you have had any late or missed lease payments, it can negatively impact your credit score.
- A lower credit score can result in higher interest rates or even disqualification for certain mortgage programs.
- Residual Income
- Lenders may evaluate your residual income, which is the amount of money left over after paying all your monthly obligations, including the car lease payment.
- Insufficient residual income can be a red flag for lenders, as it may indicate difficulty in affording the mortgage payment.
- Documentation Requirements
- Lenders may require documentation of your car lease agreement, including the monthly payment amount, remaining term, and any buyout or termination fees.
- This information helps them accurately assess your overall debt picture.
- Future Debt Considerations
- If your car lease is nearing its end, lenders may factor in the potential cost of a new lease or car purchase when evaluating your future debt obligations.
It’s essential to disclose your car lease information accurately on your mortgage application. Lenders will verify this information during the underwriting process.
To improve your chances of mortgage approval with a car lease, you may consider:
- Paying off or trading in the leased vehicle to eliminate the monthly payment.
- Increasing your income or reducing other debts to improve your DTI ratio.
- Maintaining a good credit score by making timely lease payments.
- Providing documentation of sufficient savings or assets to cover future car expenses.
While a car lease is not an automatic disqualifier for a mortgage, it’s essential to manage it responsibly and demonstrate your ability to handle the additional debt obligation of a mortgage payment.
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Here is a news article on an airplane crash next to Florida expressway killing the pilots
nbcmiami.com
New details released on two cars that jet crashed into on I-75 near Naples
The Bombardier Challenger 604 jet that crashed on the I-75 in Collier County Friday reportedly struck two vehicles that were traveling on the highway, seriously injuring one person inside.
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Bill Clinton, Alan Dershowitz, Bill Richardson, Richard Branson, and hundreds others are denying saying its not true. Let’s see what the tapes say.
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Artificial Intelligence is a computer. So a computer can think for itself?
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Fannie Mae (officially known as the Federal National Mortgage Association) and Freddie Mac (officially known as the Federal Home Loan Mortgage Corporation) are both government-sponsored enterprises (GSEs) in the United States that play a significant role in the mortgage market. While they share similarities, there are some key differences between the two:
Origins and Charters:
Fannie Mae: Originally established in 1938 as a government agency during the Great Depression, Fannie Mae became a private, shareholder-owned company in 1968. Its mission is to provide stability and affordability to the housing market by purchasing and guaranteeing mortgages from lenders.
Freddie Mac: Created in 1970, Freddie Mac is a relatively newer entity. Its purpose is also to support the housing market by purchasing and securitizing mortgages, primarily those for low- and moderate-income families. Freddie Mac was established in response to the need for additional competition and liquidity in the secondary mortgage market.
Ownership Structure:
Fannie Mae: Fannie Mae operates as a publicly traded company, meaning it is owned by private shareholders. However, it was placed into conservatorship by the federal government in 2008 during the financial crisis, and as of my last knowledge update in January 2022, it remains under the control of the Federal Housing Finance Agency (FHFA).
Freddie Mac: Similar to Fannie Mae, Freddie Mac is a publicly traded company with private shareholders. Also, it went into conservatorship in 2008 and is under the supervision of the FHFA.
Operations and Focus:
Fannie Mae: Fannie Mae primarily focuses on the secondary mortgage market by purchasing and guaranteeing conventional mortgages. It works with a broad range of lenders and supports the availability and affordability of mortgage credit for homebuyers.
Freddie Mac: Freddie Mac’s focus is also on the secondary mortgage market, and it purchases and securitizes conventional mortgages. Like Fannie Mae, it plays a role in increasing liquidity and stability in the housing finance system.
Types of Loans Purchased:
Both Fannie Mae and Freddie Mac primarily deal with conventional mortgages, but they have expanded their activities to include certain types of government-backed loans, such as FHA (Federal Housing Administration) and VA (Department of Veterans Affairs) loans.
Regulation and Oversight:
Both GSEs are subject to regulation and oversight by the FHFA, which acts as their conservator since the financial crisis. The FHFA ensures that Fannie Mae and Freddie Mac fulfill their mission while operating in a safe and sound manner.
It’s important to note that the information provided here is based on my knowledge as of January 2022, and there may have been developments or changes in the operations of Fannie Mae and Freddie Mac since then.
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No, mortgage interest rates can vary among different lenders. Each lender sets its own rates based on a variety of factors, including their cost of funds, operational expenses, risk tolerance, and competitive positioning in the market. Additionally, individual borrowers’ financial profiles, credit scores, and loan characteristics can influence the specific rate offered by a lender. Do not assume that just because the mortgage loan is a government-backed loan such as FHA, VA, or USDA, all lenders offer the same rate. That is absolutely not the case. It is wise to shop for the lowest mortgage interest rates and the best terms.
To find the best mortgage interest rate for your situation, it’s recommended to shop around and obtain quotes from multiple lenders. This can help you compare offers and choose a mortgage that aligns with your financial goals. Keep in mind that while interest rates are a crucial factor, you should also consider other aspects of the loan, such as fees, terms, and customer service, when evaluating different lenders. Working with a mortgage broker can also be helpful, as they can assist in navigating the mortgage market and finding competitive rates on your behalf.
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Heard great 👍 things about EPM. Glad to know the leadership about a great wholesale mortgage lender.
