NEXA Lending CEO Mike Kortas has emerged as the sole owner of the company following a settlement with co-founder and former business partner Mat Grella, ending years of litigation over their respective ownership interests and the size of Grella's buyout.
The settlement ends a legal fight that began after Grella requested a buyout of his ownership stake in November 2023. The dispute later expanded into allegations over NEXA’s jet spending, unequal profit distributions, and the founders’ contractual rights under the company’s operating agreement. What began as a business partnership eventually became a corporate divorce fought through multiple lawsuits.
The agreement resolves all legal matters between Kortas and Grella, includes a mutual release of claims and concludes every lawsuit connected to the dispute, according to NEXA. However, the financial terms of the settlement were not disclosed.
“This has been a long process, and I'm grateful to finally have it behind me,” Kortas said. “With this matter resolved, my focus is exactly where it's always been our loan officers, our employees, and the future of NEXA. I wish Mat the best in whatever comes next, and I'm excited to turn the page and continue building the company for the people who count on us every day.”
In a statement sent to National Mortgage Professional, Grella said, “I'm glad to be able to close this chapter of my professional life and get back to focusing on what is really important to my family and my career. I will continue on the high road with my eyes toward the future.”
Grella has since moved on from NEXA, launching his own company, Platinum One Lending, in 2024.
NEXA said it continued expanding throughout the legal proceedings, growing from approximately 2,300 loan officers to nearly 3,700 nationwide. The company also expanded its technology, operations and support services for independent mortgage professionals during that period.
“NEXA and I are extremely happy with the outcome,” Kortas said. “We didn't skip a beat throughout this process. Our focus has always been on making loan officers better, growing the company, and continuing to build for the future. Now that this chapter is behind us, we're excited to devote all of our energy to innovation, opportunity, and helping our loan officers succeed.”
Under Kortas’ sole ownership, NEXA said it plans to accelerate investments in technology, education, recruiting, lead aggregation and servicing for its loan officers.
The company said its strategy will remain centered on providing independent mortgage professionals with the tools and operational support needed to grow their businesses and serve borrowers.
