Looking to expand its operation on the East Coast, Next Level Education, a provider of continuing education for the mortgage industry, has acquired Summit Mortgage Training.
Terms of the deal were not disclosed.
Summit is headquartered in Hanover, New Jersey and in addition to its home state, operates in Pennsylvania and Florida.
Andrea Gagliardi, who founded Summit eight years ago, has joined Next Level as director of content management.
Why did Next Level Education buy Summit?
Next Level, headquartered in Franklin, Tennessee, made this acquisition in order to accelerate its growth and expand its presence in, but not only on, the East Coast, said J.R. Huber, co-founder, CEO and president of the company.
"Acquiring Summit Mortgage Training was a deliberate and strategic move aligned with our national growth plan," Huber said in an emailed interview. "While NLE is a new player in the space, we are not thinking regionally — we are building a modern, technology-forward education platform designed to serve mortgage professionals across the country."
Being in New Jersey and Pennsylvania gives Next Level a foothold in the Northeast, an area it was already looking to enter, Huber added.
How the deal expands Next Level Education's footprint
Next Level was in 41 states before the deal, primarily in the South and Midwest. It is pending approval in nine others, including New York and Massachusetts. The company offers training in all three delivery methods:
"It was less about acquiring content and more about acquiring access — access to new markets, long-standing client relationships, and regional expertise that accelerates our growth strategy," Huber continued.
Summit "also offers a strong customer base and local relationships that can now benefit from NLE's broader offerings," Huber said. It will be rebranded under the Next Level Education umbrella.
How the deal adds to Next Level's offerings
Among the expanded courses being offered by Next Level are: "Ninety Days to Impact!," a 13-week coaching program for new loan officers designed to increase organizations and referral sources; and "Mortgage Fundamentals," an introductory course on the mechanics of loan originations, the buyer's press release said.
"Our course catalog, development standards, and delivery models are being designed from the ground up to meet the needs of today's learners — wherever they are located and however they prefer to engage," said Huber. "The courses we're submitting represent NLE's commitment to raising the bar for mortgage education, incorporating modern design principles, updated regulatory content, and tools that support both learning and retention."
The regulatory basis for mortgage originator education
In 2008, Congress passed
But those only applied to non-bank mortgage loan officers. Originators who work for a depository are exempt from the licensing requirements and only have to be registered in the Nationwide Multistate Licensing System. This was codified in
In Pres. Trump's first term, Congress passed
The vision of Huber and co-founder, chief operating officer and senior vice president Debbie Gadberry is to create a national thought leader.
"Beyond CE, we offer an expanding portfolio of professional development programs aimed at both new and experienced loan officers," Huber said. "We are also developing a next-generation Exam Prep suite that integrates adaptive learning, artificial intelligence-driven assessments, and interactive tools to support all learning styles."
