Key facts
- Geri Farr has been named the new CEO of NEXA Lending.
- Co-founder Mike Kortas is transitioning from CEO to executive partner.
- The company aims to separate daily operations from long-term growth initiatives.
- Farr previously worked with Kortas and has a background in mortgage lending.
- The executive partner role is designed for experienced company builders focused on expansion.
NEXA Lending announced on Tuesday that Geri Farr has been appointed as the new chief executive officer, succeeding co-founder Mike Kortas. Kortas will transition to the role of executive partner, a move the company stated is intended to separate daily operations from longer-term growth and innovation strategies.
Kortas had previously indicated this transition on the HousingWire Daily podcast, noting that Farr was on a path to the CEO role since her hiring nearly a year prior. He expressed confidence in Farr's ability to manage the company's day-to-day operations, stating his ego was not large enough to prevent the right person from taking the helm. Farr, who joined NEXA in 2025, has a background in wholesale and distributed retail mortgage lending and previously worked with Kortas at NOVA Home Loans.
In her new role, Farr will oversee NEXA's executive team, which includes Chief Administrative Officer Rana Mortensen, Chief Operating Officer Jason duPont, Chief Strategy Officer Tammy Richards, and Chief Financial Officer Von Maharaj. This structure is designed to allow Kortas and other executive partners to focus on growth initiatives, acquisitions, and partnerships, while the executive team manages operational aspects.
Following NEXA's recent acquisition of UMortgage, UMortgage CEO Anthony Casa also joined NEXA as an executive partner. The company has been expanding its platform, compensation models, technology, and servicing operations since rebranding from NEXA Mortgage to NEXA Lending in October 2025. Recent developments include the launch of AI tools, entry into mortgage servicing with evoLend, and expansion of lead-generation capabilities through FSBO.com. Kortas also recently secured full ownership of NEXA after settling a legal dispute with co-founder Mat Grella.