NEXA Lending, previously often called NEXA Mortgage, is accusing a number of former NEXA mortgage officers, managers and former president Mat Grella of executing a coordinated “worker raid” to hurt its enterprise.
The swimsuit, which was filed on Nov. 5 in Arizona’s Maricopa County Superior Courtroom, claims that Grella, former department supervisor Gregory Nichols and Michigan-based Platinum One Lending, which Grella holds an possession curiosity in, conspired to recruit NEXA mortgage officers and use the corporate’s confidential knowledge to construct a competing operation.
“NEXA isn’t within the enterprise of enjoying video games,” stated NEXA CEO Mike Kortas in an announcement to HousingWire. “When somebody or some group makes an attempt to hurt the corporate and all these superb individuals which can be a part of our household, we’ll do every little thing to guard their pursuits. On this case, I’ll simply let the information converse for themselves.”
Kortas stated that NEXA is working carefully with authorized counsel. “Our focus proper now could be easy: shield our individuals, our companions, and the hundreds of mortgage officers who depend on us. Any actions taken towards NEXA shall be met with accountability, interval…I’ve at all times believed alternative exhibits an individual’s character. Some individuals use it to develop — others waste it. Both method, NEXA retains transferring ahead. We’re not slowing down for anybody.”
Grella and different defendants didn’t reply to HousingWire’s requests for remark on the time of publication.
Additionally named within the swimsuit are former NEXA mortgage originators and managers Anthony and Cristy Galaviz, Brandon Watson, Kristin Berg, Naveen Vadhwa, Nicole and Katey Powalisz, Shannon Bell, Taylor McCarty, Alexandra Marchand, Tabitha Jimenez and Zane Darlington.
Grella’s spouse, Sheridan Murray-Grella, and Platinum One Lending are additionally named, together with 25 unnamed “Doe” defendants.
Lawsuit alleges Grella used inside information
The lawsuit alleges that the previous staff “violated binding contractual obligations, duties of loyalty, and established ideas of Arizona legislation, leading to substantial monetary and reputational hurt to one of many nation’s largest and most profitable mortgage dealer[s] and lender[s].”
NEXA claims Grella, who was terminated in March 2024 and “at present holds a 49.5% dissociated membership curiosity” in NEXA, used insider information of the corporate’s programs and compensation construction to assist Platinum One replicate its enterprise mannequin.
Nichols is accused of working with Grella whereas nonetheless employed at NEXA to solicit colleagues and switch loans and clients.
The grievance says Nichols and 11 different mortgage originators violated employment agreements that barred them from soliciting co-workers or utilizing proprietary data. NEXA alleges that the group hid their plans, lied throughout exit interviews about leaving the business or going to different firms and misused borrower data after they ultimately began working for Platinum One.
The swimsuit states that “Nichols and the co-conspirators that left NEXA and in the end joined Platinum One began stating they have been part of the Nichols Staff earlier than Nichols ever joined Platinum One.”
NEXA accuses the defendants of breach of contract, breach of loyalty, tortious interference, unfair competitors, civil conspiracy and unjust enrichment. The corporate is looking for financial damages, punitive awards and courtroom orders barring the defendants from utilizing its knowledge or contacting its staff and clients.
Different litigation
NEXA has been concerned in different authorized motion this 12 months. Throughout the final month, the Arizona-based lender expanded its lawsuit towards former worker Kristine Wake and named Grella, Murray-Grella, and Platinum One Lending within the litigation, arguing that every defendant misappropriated commerce secrets and techniques, violated contracts and conspired to recruit NEXA employees to a competing agency.
The amended grievance builds on NEXA’s Might 2025 swimsuit accusing Wake of utilizing confidential coaching supplies, soliciting staff to hitch a rival enterprise and refusing to return an organization area identify. The case continues to be ongoing.
NEXA beforehand sued the Grella couple in April 2024, alleging contract breaches, fiduciary violations, interference, fraud and defamation. Grella, who co-founded NEXA with Kortas in 2017 after each left Equity Prime Mortgage, was terminated in March 2024 amid buyout talks. He has individually accused Kortas of misusing firm funds for plane bills, a declare Kortas denies.
