Mike Kortas, founder and CEO of the mortgage lender NEXA, has announced the launch of evoLend, a mortgage servicing company.
The new company is being promoted with the pledge “to put loan officers back in control of the borrower relationship after closing.” Unlike traditional structures where originators lose touch with borrowers when mortgages are sent to third-party servicers, evoLend is being positioned to provide loan officers with borrower retention, payoff visibility, mortgage servicing right participation, borrower lifecycle intelligence, and technology to remain connected with their borrowers.
evoLend has been approved for mortgage servicing by Fannie Mae, Freddie Mac and Ginnie Mae. Tammy Richards, chief strategy officer at NEXA, has been named CEO of evoLend, which will operate as an independent company.
“Our industry has accepted for years that once a loan closes, the loan officer simply hopes that customer comes back someday,” said Kortas. “I don’t believe hope is a business strategy. Loan officers earned that relationship and they should continue benefiting from it long after closing. The loan officer will now control the payoff process.”
“evoLend is about giving loan officers access to the information and infrastructure they have historically been separated from after closing,” said Richards. “This company is being built intentionally, with compliance, technology, and long-term loan officer value at the center.”
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