Weekly Real Estate News
Summary
NEXA Lending added Andrew Deyo and a group representing approximately $100 million in annual mortgage production, including significant VA and purchase lending volume.
NEXA Lending has added Colorado Springs mortgage originator and branch leader Andrew Deyo along with a group the company says represents approximately $100 million in annual mortgage production, extending a recruiting run that has brought several sizable production teams onto the platform.
NEXA announced the move Monday. Deyo most recently worked at Rate as a producing partnership branch manager in Colorado Springs. He is also a U.S. Army veteran who spent 13 years in the military before entering mortgage origination.
The $100 million figure refers to the group joining NEXA, not Deyo’s individual production. NEXA said Deyo expects to personally originate roughly $60 million this year. National Mortgage Professional, citing Modex data, reported approximately $50.6 million across 121 loans for Deyo over the trailing year, including $41.5 million in VA production.
A heavily VA- and purchase-focused business
The production profile is notable because of its concentration in veteran and purchase lending. According to the Modex figures reported by National Mortgage Professional, roughly 82% of Deyo’s trailing volume was VA lending and approximately $39.2 million was purchase volume.
The Colorado Springs Rate branch where Deyo served as a producing partnership branch manager generated approximately $100.2 million across 229 loans during the trailing year, NMP reported. Approximately $68.8 million of the branch’s volume was VA lending and $76.4 million was purchase business.
Those figures are third-party production estimates and can differ from company-reported or closed-loan accounting. They nevertheless provide independent context for NEXA’s description of the incoming group as representing roughly $100 million in annual production.
NEXA continues adding established teams
Deyo’s arrival follows other recent recruiting moves by NEXA. In September, the Bookspan Baker Team joined NEXA and launched Keepsake Loans, another group associated with roughly $100 million in annual production. WRE News has also reported on Mortgage Nerds joining the NEXA platform and NEXA’s acquisition of UMortgage.
At NEXA, Deyo is expected to focus on both production and expansion of the company’s Business Development Marketing program, known as BDM. The company describes the program as a structure through which qualified participants can build business relationships and expand within the platform.
The hire adds another established producer and production group to NEXA at a time when mortgage companies are competing aggressively for originators capable of generating purchase business in a still-challenging rate environment.
