NEXA Lending's feud with loanDepot continues, as CEO Mike Kortas is publicly recruiting its rival's loan officers while criticizing the lender. 

In a Facebook post last week, Kortas offered loanDepot loans officers who switch over to his company a one year membership for NEXA100, a program that allows NEXA originators to keep up to 100% of their commission splits, along with a signing bonus. 

Kortas also touted NEXA's compensation, rates, products, residual income opportunities and greater control over customer relationships, before calling loanDepot a "sinking ship." The post included a picture of loanDepot's stock price, which had fallen 96.9% since its initial public offering in 2021 to $0.97. It closed Tuesday at $1.06.

"They are now at risk of being delisted and their money flow seized," Kortas wrote. "They want to get back into wholesale but are stupid enough to sue the largest brokers for the exact things they are actually guilty of. They are literally the bully of mortgage. Let us help you."

LoanDepot filed a trade secrets lawsuit against NEXA in April, claiming two Mississippi-based loan officers stole confidential information about its business and used this to convert clients to NEXA, according to the complaint. At the time, Kortas called the lawsuit "pathetic" and said to expect a countersuit, claiming the lender has taken NEXA's loans and originators, National Mortgage News reported.

Kortas apologized on Saturday for his initial post, calling it a "Mike 1.0" moment, referring to his past behavior on social media. 

But the apology was only directed toward the loanDepot loan officers who were potentially bombarded with recruiting phone calls from other companies. He doubled down in his recruiting efforts and disdain for the lender in his second post, claiming loanDepot has sued its former loan officers who left for NEXA because they were "butt hurt."

"I will not stand for mortgage companies suing loan officers for doing what's right for their clients and their families," Kortas wrote. "I will NEVER settle."

Kortas said he will pay the attorney fees of loanDepot originators who make the switch and are sued by the lender, adding that two attorneys will be joining his legal team. This includes Ari Karen, who has experience opposite loanDepot in legal disputes, Kortas told National Mortgage News Tuesday.

The NEXA CEO is considering the costly attorney fees as an advertising expense. The posts have amassed hundreds of thousands of views across social media platforms and created a spur of interest from loanDepot loan officers, with some on the way, Kortas said.

He also reiterated his stance Tuesday that loanDepot CEO Anthony Hsieh is a "courtroom bully" and "wants to feel like the big man," but has messed with the wrong guy, warning Hsieh to not "poke the bear."

"I didn't have a dog in this fight," Kortas wrote in the second post. "I actually praised [loanDepot] and we wanted to work with them. But when attacked I will bite back. And I will adamantly defend the loan officers' right to do what is best for them. I will fight for you too. Let's see if it's a fit."

LoanDepot declined to comment on the posts.