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Former President Mat Grella Speaks Out of Departure from NEXA Mortgage
Former President of NEXA Mortgage Mat Grella tells his side of the reason why he and his partner CEO Mike Kortas dissolved their partnership being partners of the largest mortgage brokerage in the United States. Tens of thousands of mortgage professionals were in pins and needles daily for breaking news about the real reason why the two mortgage legends terminated their once rock solid bond in running the mortgage brokerage giant.
https://www.nationalmortgagenews.com/list/nexa-mortgage-ceo-talks-breakup-with-co-owner
nationalmortgagenews.com
NEXA Mortgage CEO talks breakup with co-owner, plans for the future
In the midst of a separation between Mike Kortas and Mat Grella, the company's CEO sets course to double headcount.
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6 Replies
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Mat Grella is well liked by many if not all in the mortgage industry. The very best to Mr. Grella and his family.
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Former President and Co-Founder Mat Grella talks about the termination of the partnership agreement at NEXA Mortgage to the press: In this thread, I like to show my personal independent insights and thoughts of the separation between CEO Mike Kortas and former co-founder Mat Grella. I, as most of my colleagues at NEXA Mortgage and third-party business associates was more than surprised when news broke there will be changes in the leadership at NEXA Mortgage. Our CEO Mike Kortas and his junior partner Mat Grella were separating and terminating their business agreement and corporate partnership. Did not know how to take the news. My first instant reaction to hearing the news was calling CEO Kortas the minute I heard. However, out of respect to CEO Mike, I could not be selfish and control myself and give the courtesy to the gentleman who I have grown to know, work with, respect, and grow extremely fond of the past 26 months I have been part of the NEXA Mortgage team under CEO Mike’s leadership. The reason I am mainly addressing CEO Kortas is because he is the person who I mainly dealt with from the day I committed myself and my team to NEXA Mortgage. I have only spoken to Mat Grella no more than 6 times during my tenure at NEXA Mortgage and five out the six times were communications via text and/or email channels. My team and I did meet Mat Grella once when he flew to Chicago for a business luncheon. Very professional, fun, and had a great time. Team GCA got to know who co-founder Mat Grella was, is, and which direction we were headed with finally meeting the junior partner at NEXA Mortgage, LLC. As for CEO Mike Kortas, I communicated by talking to him, texting and calling weekly. I have the honor of meeting CEO Mike Kortas and Mrs. Edna Kortas in Chicago last year for lunch which was the best luncheon I can remember. It was a surprise luncheon where CEO Mike and his family had personal family affairs to take care of in Chicago. CEO Kortas and Mrs. Edna Kortas took time of their precious personal schedule in Chicago to meet with me personally for lunch: It was not small lunch either: Several hours of lots of food and expensive cognac, whisky, and wine. Will always cherish and remember the special lunch we had. As time passed, our relationship between me, my team, and our CEO Mike Kortas grew stronger. By our relationship, I mean mutual trust, loyalty, respect, and the separation between personal and business sides of our growing association with one another. I know that CEO Mike did not know how to read me when we first met. Seemed like he had a “WTF is This Gustan Cho Character?” Ya, see, I am kinda rough around the edges and cannot be two-faced or an actor. I can only be professional for five minutes, and the WTF’s come out. I cannot like someone who I do not respect, trust, or talks out of their asses. Therefore, I am not hireable and either need to run my own business or work with people who are NOT just a good fit, but a GREAT FIT. No such thing as a compromise when it comes to me. Most the folks who work with me are employees who have become a great trusted and loyal friend and family and have worked together for many years. A lot of people who joined my team left shortly after working together and have returned. I guess you do not know how great you have it until it is gone. Bottom line with CEO Mike Kortas and former business partner Mat Grella is that there was great possitive energy momentum for many years since the creation of NEXA Mortgage with no visible signs of weakness or conflict within the NEXA community and its upper management and leadership. One thing I will attest to is that CEO Mike Kortas is above and beyond being fair: He is hands down generous but yet firm. Since the time I started at NEXA Mortgage (January 2nd, 2022, officially onboarded and sponsored on February 24th, 2022), CEO Kortas led the largest mortgage brokerage in the nation with pride, integrity, and honor. CEO Kortas led by example. I may not be reigious but I am extremely spiritual and believe in God. God’s got a reason for everything. There is a reason why I have CEO Mike Kortas in my life and why I am in his. God gave us one life to be the best we can be and become successful. Everyone’s definition of success is different. A blue collar worker working seven days a week, making above average income to support his family and being able to send his children to college and earning a lifetime $3,000 a month pension may be SUCCESS for him but not a different person. Nobody is above the law and has no right to demean another human being. I remember my father sitting me down when I was ten years old and having our first father and son serious meeting. The key points that was discuss that very day from my father was the making and foundation of my future and how I lived my life. I shared my thoughts with CEO Mike and Mrs. Kortas during our luncheon. It seemed like I was in the twighlight zone the day of our luncheon with CEO Mike and Mrs. Edna Kortas because the way CEO Mike grew up and my principles and beliefs were so similar. Now I like to share them with all of you because there is not a day that goes by that I do not think of the following principles.
One of the five things he preached was, son, never embarrass me no matter how old you are which I will detail more in the following paragraph.
#1. You were not born in this country so give up with any thoughts or dreams of becoming the President of the United States. It will never happen. America is you adopted country and consider yourself blessed the country welcomed you in as a guest. (I eventually became a Naturalized Citizen of the United States with the naturalization of my mother in 1982).
#2. Son, since America is your adopted country, for you to become close to becoming equal or known for you hard work you need to work twice as hard than a natural born American. To get to the top of the class you need to study twice as much and work three times as hard. Fellow student spends 20 hours for homework, you need to spend 40 hours. You will not get the same privilege as natural born citizens. Always remember that you are a guest in this country and always will be. To get ahead at the workplace and get promoted, you need to work twice as hard. Fellow co-worker works 40 hours, you work 80 hours.
#3. Always respect elders no matter their position in our social and economic class. Whether the person is homeless, a blue collar work, or professional, if God gave that person is older than you are, that person has been on our planet Earth longer that you have. Respect people older than you because experience in life is experience that cannot be thought, bought, or inherited.
# 4: Never embarrass me and the family. DO NOT lie, steal, or take anything that is NOT YOURS or DOES NOT BELONG to you. People will never forget the truth. However, you will not remember a lie as time pass. You lie, cheat, steal, or take something that do not belong to you or something that you have not earned, it is NOT if people will find out, but WHEN they will find out. Never talk out of your ass and never take credit that you know the credit does not belong to you. Be humble, and never show off by bragging. Remember that God will take things away from you if you brag or show off to people who are less fortunate.
#5: Greed is the roots of all evil. Remember and never forget where you come from. There are two types of human relationships: Business and Personal. Do not mix and match each type of relationship and learn starting today to distinctly separate the two. Business relationships can come and go. However, personal relationships can last forever only and only if under the following conditions: Both party need to make it work. If you are the only one alive
I have never met a leader who practiced and did what he said. It starts with his core foundation. I am a firm believer it is a must to take a few steps backwards to go forward. CEO Kortas has never NOT honored a word since the day I started. Any time CEO Mike said a YES, you can take that YES to the BANK. The challenge is getting him to say YES. However, with his common sense foundation of Common Sense Applies principle, and his second principle of “If I make an exception and say YES to you, than I have to do it for everyone else principle, it is hard to believe the allegations and validity of the former NEXA co-founder of his lawsuit. I am getting calls, texts, emails, hourly from not just loan officers at NEXA BUT loan officers, branch managers, and owners of smaller mortgage broker shops. By no means am I calling Mat Grella a liar or am I intending on making derogatory insunuations. I still like, and respect Mat Grella. This comment and feedback is not just directed to Mat Grella but rather everyone. A lawsuit is NOT the road to resolve a disagreement or settling a differences of opinion. We all know that CEO Mike is the alpha leader or the Bear of the company. I suggestion is Don’t Poke the Bear because the Bear will not poke you back, but you will never win and may possibly regret it. Regret is very hard to live with and is like stage-5 cancer. I bet if anyone were to sincerely ask the BEAR, let’s settle this and come to a FAIR deal and move towards strenghing our personal relationship, I bet the BEAR will take that request into serious consideration and have a common sense approach. Having lawyers involved, hurts not just the party getting sued, but everyone in an organization. Remember that you do not realize how good you got it until it is gone. Remember how you became big and the position you have accomplished and the person that opened up the road and opportunity for you. From looking things objectively, I just cannot see CEO Kortas doing something intentionally to undermine his or her partner or member of his team. Since I started at NEXA, there is not a time where CEO Mike Kortas not return my call, text, email within the hour. And this not just during business hours but seven days a week. Don’t know how he does it, but the BEAR is a machine. I always thought I was the King Crab Leg. WRONG. CEO Mike Korts is the King Crab Leg. I thought I was the Grizzly Bear. WRONG. I am just an imitation crab and just a cub. CEO Mike Kortas is the real deal. The King Crab, the GRIZZLY BEAR who practices what he says and preaches, never talks out of his ass, who hands down honors his word, and who is respected, loved, and trusted among his personal friends, business associates, third-party independent contractors, and even his competitors. Remember you are who you hang out with. Let’s all stay with the winning leader and team. See you all at the top.
https://finance.yahoo.com/news/nexa-grella-sues-kortas-over-005517593.html
finance.yahoo.com
NEXA’s Grella sues Kortas over “secret, unauthorized” aircraft-related purchases
Mat Grella says NEXA co-owner Mike Kortas retaliated against him after he refused to invest in an aircraft hangar and the purchase of a fourth jet.
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For a mortgage company to be profitable during turbulence housing and lending markets is strong leadership. For a mortgage company to be profitable and growing strong is unbelievable leadership and the nearly impossible. Bad decision in leaving a winning team.
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The only winners in litigation are the lawyers.
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I agree with litigation every one loses except the lawyers. Here is an article on Mike Kortas, the CEO of NEXA Mortgage responding to the recently filed lawsuit from former partner Mat Grellaa
https://www.nationalmortgagenews.com/list/nexa-mortgage-ceo-talks-breakup-with-co-owner
nationalmortgagenews.com
NEXA Mortgage CEO talks breakup with co-owner, plans for the future
In the midst of a separation between Mike Kortas and Mat Grella, the company's CEO sets course to double headcount.
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I am not an attorney but many members of my family and close friends are. I discussed this matter over a get together yesterday with family and friends where several of them were litigation attorneys and they all agreed they would love to take on a case similar to the NEXA Mortgage separation of the founders where it was not a consensual termination. This is because there is a lot of money involved for the attorneys. Not a single attorney said they would take on this type of case pro bono because, technically, it is a very weak case on the side of Mr. Mat Grella. This is just off the surface with a lot of assumption and no documentations, data, facts, witnesses, bank records, and most importantly, the business agreement and contract between the two founders of NEXA Mortgage. Suing a former business partner can be a complex legal process that typically involves several steps:
Evaluation: First, assess whether you have legitimate grounds for a lawsuit. This might include breach of contract, fraud, breach of fiduciary duty, or other legal violations.
Consultation: It’s advisable to consult with a lawyer who specializes in business law or civil litigation. They can provide legal advice tailored to your specific situation and help you understand your rights and options.
Demand Letter: Sometimes, sending a demand letter outlining your grievances and the desired resolution can prompt a settlement without going to court. This letter typically details the legal basis for your claim and gives the other party a chance to respond.
Filing a Lawsuit: If a settlement cannot be reached, you may proceed with filing a lawsuit in the appropriate court. Your attorney will prepare the necessary legal documents, including a complaint, which outlines your allegations and the relief you seek.
Discovery: After the lawsuit is filed, both parties engage in the discovery process, where they exchange relevant information and evidence related to the case. This may involve document requests, depositions, and interrogatories.
Mediation or Settlement: Before going to trial, parties may engage in mediation or settlement negotiations to try to resolve the dispute out of court. A neutral third party facilitates these discussions to help the parties reach a mutually acceptable agreement.
Trial: If the case proceeds to trial, both parties present their evidence and arguments before a judge or jury. The court then decides the outcome based on the evidence presented and applicable law.
Appeal: If either party is dissatisfied with the trial court’s decision, they may have the option to appeal to a higher court.
It’s crucial to understand that the legal process can be time-consuming, expensive, and emotionally draining. Therefore, it’s essential to weigh the potential costs and benefits before pursuing litigation and to work closely with a qualified attorney throughout the process.
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This reply was modified 7 months, 2 weeks ago by Lisa Jones.
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This reply was modified 7 months, 2 weeks ago by
