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 details ⇒

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