NEXA Lending enters investment, phased acquisition with Copper Ridge Ventures

NEXA Lending announced Thursday that it has entered into a strategic investment and phased acquisition agreement with Copper Ridge Ventures, cementing a growth and scaling strategy for both companies.

Copper Ridge is a mortgage joint venture holding company founded by Tim Owens, a longtime industry executive with past tenures at loanDepot, CrossCountry Mortgage and Cardinal Financial.

NEXA‘s plans to pursue joint ventures were teased to HousingWire in February when CEO Mike Kortas shared that he was in the process of acquiring several shell companies to build JVs.

The partnership announced this week is aimed at expanding NEXA’s joint venture strategy by combining Copper Ridge Ventures’ relationships with mortgage loan officers and real estate professionals with NEXA’s operational and technology platform.

Under the agreement, NEXA said it will provide support across marketing, information technology, licensing, loan processing, human resources, compliance and operational infrastructure. In turn, Copper Ridge Ventures and its affiliates will integrate NEXA’s systems and strategic partnerships as part of the arrangement.

The move marks another growth initiative since NEXA’s rebrand in October 2025 from NEXA Mortgage to NEXA Lending. Following the rebrand, the Arizona-based company overhauled its leadership team, tapping Todd Bitter as national director of sales and Von Maharaj as chief financial officer.

NEXA also promoted Rana Mortensen to chief administrative officer, hired Tammy Richards as chief strategy officer, named Jason DuPont as chief operating officer and added Geri Farr as chief growth officer.

The company also launched new artificial intelligence tools within its Agenetic AI platform in January. The next month, Kortas also acquired for-sale-by-owner platform FSBO.com, telling HousingWire that while NEXA does not own FSBO.com, the platform will benefit NEXA due to lead discounts and lead aggregation.

“This is exactly the kind of strategic move NEXA is built for,” Kortas said in a statement regarding the agreement with Copper Ridge Ventures. “We have the platform, the technology, the infrastructure, and the people to help strong operators scale faster.”

Farr, who now serves as NEXA’s president, said the move marks an investment in the “right people” and operators to bring value to NEXA’s originators.

“NEXA is uniquely positioned to be an ideal partner for Copper Ridge Ventures,” Farr said. “Our asset-light, technology-enabled operating model, AI-forward approach, and deep experience in rapid joint venture formation will help Tim Owens and his team accelerate CRV’s growth and drive operational efficiencies.”

Owens called the agreement “a significant milestone” for the company.

“By leveraging NEXA’s centralized technology, compliance, and operational resources, CRV is well-positioned to expand our joint venture footprint and enhance the support we provide to our partners and clients,” he added.

NEXA said the transaction is part of its broader strategy to partner with mortgage industry operators to expand origination, marketing and joint venture formation capabilities.

Columbia West Capital served as financial adviser to NEXA on the transaction.