As chief strategy officer, Richards will help lead market development and expansion for the Mesa, Arizona-based lender, which recently changed its name from Nexa Mortgage. 

"This company has a fantastic reputation for innovation and customer service. I look forward to building on that strong foundation and helping to steer our strategic direction for a future of continued success and groundbreaking achievements," Richards said in a press release. 

Richards comes to Nexa after most recently heading retail growth at Kind Lending, where she joined the company in mid 2024 as chief operating officer. An industry veteran, Richards' prior professional background also includes several leadership roles over three decades at leading mortgage lenders, such as Caliber Home Loans, Bank of America and Loandepot. Before joining Kind Lending last year, Richards served as CEO of the mortgage technology firm she founded called Lendarch. 

The former chief operating officer at Loandepot, Richards sued her former employer and two of its leaders, including founder and CEO Anthony Hsieh in a widely publicized 2021 lawsuit. In her suit, Richards made claims of gender discrimination and wrongful termination resulting from her refusal to take part in what she deemed was a scheme to loosen underwriting standards. Her suit was ultimately thrown out in California Superior Court earlier this year.

A countersuit by Loandepot against Richards is still pending.

In her new C-suite role at Nexa, Richards will be responsible for national expansion efforts through both recruitment and mergers and acquisitions. She also will lead development of its non-delegated lending channel, working closely with Kortas and other members of the leadership team. 

"We are thrilled to have Tammy join our executive team," said Nexa Lending CEO Mike Kortas. "Her proven track record of developing and implementing transformative strategies is exactly what we need as we enter our next phase of growth."

From mortgage broker to correspondent lending

Richards' arrival comes following several moves made by Nexa over the past month, marked by the addition of many loan officers, all coinciding with the company's new name. 

Behind the moves is a refocus on the company from its mortgage-broker roots to what it calls "a correspondent-driven wholesale lender." The company recently shed much of its "brokers are better" mantra used previously in marketing outreach.

"The message is simple: it's no longer about division, it's about growth, unity, and the power of wholesale," the lender wrote in a recent social media post.  

Coming alongside recent rebranding was the September hiring of Richards' former Kind Lending colleague Geri Farr as chief growth officer. Previously, Farr served as senior vice president, West retail sales at Kind, after working for several years as a divisional leader at Bay Equity Home Loans. 

Farr's new responsibilities will include loan officer recruitment efforts, with an eye on attracting  retail producers. 

Nexa was founded in 2017 and sponsored 3,374 mortgage loan officers in 2024, according to the Nationwide Multistate Licensing System.