Novus Home Mortgage

What Novus Home Mortgage does

Novus Home Mortgage is a digital mortgage originator operating as a division of Ixonia Bank, a Wisconsin state-chartered bank established in 1918. The company originates home purchase and refinance loans across all 50 states through a network of 300+ loan officers distributed across 13+ documented branch locations and a direct-to-consumer digital channel. Loan products span Conventional, FHA, VA, USDA, Jumbo (up to $3,000,000), Non-QM, Specialty, ITIN, and Down Payment Assistance programs, allowing Novus to serve borrowers across the credit and income spectrum, including self-employed, investor, physician, and non-SSN segments that mainstream lenders often decline.

The underlying technology stack consists of a web-based digital mortgage application, interactive mortgage calculators, a glossary and homebuyer's guide, and native iOS/Android mobile applications branded under the SimpleNexus client framework. A separate Novus Direct portal supports the Third-Party Originator (TPO) channel, enabling credit unions and community banks to submit and track loans through a lender-paid compensation structure. The company is led by President and CEO Eric Egenhoefer (20+ years mortgage experience) with a C-suite spanning Operations, Finance, Technology, and a National Sales Director.

Revenue is generated primarily through mortgage origination: gain-on-sale economics on closed loans, origination fees, and servicing-related income, supplemented by TPO partner compensation on institutional-referred volume. Pricing is quote-based and varies by borrower credit profile, loan type, and market conditions; no public rate sheet is disclosed. The company is privately held, with no external venture or private equity capital raised, and ownership sits entirely within Ixonia Bank.

Name

Novus Home Mortgage

Legal name

Novus Home Mortgage

Website

https://novushomemortgage.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Novus Home Mortgage is a digital mortgage originator and division of Ixonia Bank, operating in all 50 states with 300+ loan officers, a full spectrum of agency and Non-QM loan products, and a TPO channel for credit unions and community banks.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Purchase Mortgage Origination (Homebuyer Focused) (FSALAAAD)

akta.pro secondary industries

Affordable Housing / Down Payment Assistance (DPA) Mortgage Origination (FSALAAAM), Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL), Government Mortgage Insurance & Guarantees (FHA/VA/USDA and equivalents) (FSALAJAC), Reverse Mortgage Technology & Compliance (LOS/CRM/HECM Calculators) (FSALAIAI)

Keywords

• Residential mortgage lending
• Home purchase loans
• Mortgage refinancing
• Non-QM loans
• TPO lending platform

Headquarters

HQ city

Waukesha

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Mortgage Origination and Lending: Primary revenue from originating and funding mortgage loans. The company acts as a direct lender, earning revenue through interest on loans originated and held or sold on the secondary market. Origination fees and servicing revenue contribute to the business model.
2. TPO Lender-Paid Compensation: Revenue from Third-Party Originator partnerships where credit unions and banks refer loans outside their product offerings. Novus handles the full origination process and pays the referring institution compensation through a lender-paid compensation (LPC) structure with predetermined basis points based on loan size.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Novus Home Mortgage is a direct residential mortgage lender operating as a division of Ixonia Bank. It originates, funds, and services home purchase and refinance loans across all 50 U.S. states through a network of 300+ loan officers, supported by a digital application platform and mobile apps. The company also operates a Third-Party Originator (TPO) channel that lends through credit union and community bank partners.

Product overview

Novus Home Mortgage is a digital mortgage platform and division of Ixonia Bank offering a comprehensive suite of mortgage products across all 50 states. The core platform combines personalized loan officer guidance with technology for applications, document management, and progress tracking. The product portfolio includes Conventional Loans, FHA Loans, VA Loans, USDA Loans, Jumbo Loans, Non-QM Loans, Specialty Loans, ITIN Programs, and DPA Programs for home purchases and refinancing. Additional offerings include a TPO Lending Platform for bank and credit union partnerships, a Novus Direct Platform for loan submissions, a Mobile App for iOS and Android, Mortgage Calculators for financial planning, and educational resources including a Homebuyer's Guide and Glossary of Terms.

Differentiator

Problem solved

Functional benefit

Products and services

• Conventional Loans Standard mortgage loans for buyers with good credit and down payments of 3% or more, including Freddie Mac Direct, Fannie Mae Direct, Home Possible, HomeReady, RefiNow, and Refi Possible programs.
• FHA Loans Government-backed mortgages with lower down payment requirements and flexible qualification terms, insured by the Federal Housing Administration and aimed at first-time homebuyers.
• VA Loans Home loans for veterans and active-duty military with no down payment, competitive rates, and flexible qualification terms, endorsed by the Department of Veterans Affairs.
• USDA Loans No-down-payment mortgages for homebuyers in rural and suburban areas, backed by the U.S. Department of Agriculture with income limits based on location and household size.
• Jumbo Loans Non-conforming mortgages for high-value homes exceeding standard conforming loan limits, with ARM and fixed options available up to $3,000,000 for primary, second home, and investment properties.
• Non-QM Loans Non-qualified mortgage loans for borrowers with non-traditional income, low credit scores, or complex financial situations who do not meet conventional loan criteria, including bank statement, DSCR, 1099-only, P&L only, and foreign national programs.
• Refinance Options Mortgage refinancing solutions allowing homeowners to lower interest rates, reduce monthly payments, shorten loan terms, convert loan types, or access home equity through cash-out refinancing.
• Specialty Loans Tailored mortgage solutions including renovation loans, reverse mortgages, physician mortgages, and other programs addressing unique financial situations and specific home financing objectives.
• ITIN Programs Mortgage programs allowing individuals without a Social Security Number to purchase a home using ITIN (Individual Taxpayer Identification Number) loans.
• Down Payment Assistance (DPA) Programs

Quantifiable outcome

• 4.9 Star Rating across 13,679 reviews on Experience.com
• +1 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Credit Unions and Community Banks (TPO Partners)coreChannel Partner/ Reseller/ DistributorThird-Party Originator partnerships with credit unions and community banks across all 50 states. When a borrower's financing needs fall outside a financial institution's product offerings, Novus provides a compliant, streamlined solution allowing the institution to retain the relationship while Novus handles the full loan process including consultation, processing, underwriting, and closing coordination. Institutions receive compensation through lender-paid compensation (LPC) structure with predetermined basis points.

Scale indicators5 records

Recent moves2 records

Expansion highlights6 records

Broad incumbents

• Rocket Mortgage: The largest US mortgage originator and a direct competitor across purchase, refinance, and government loan products. Compares to Novus on residential mortgage origination, multi-channel distribution (DTC plus loan officers), and digital-first customer experience, though at materially larger scale.
• United Wholesale Mortgage (UWM): The largest US wholesale mortgage lender and the dominant TPO channel competitor. Highly comparable to Novus' TPO partnerships with credit unions and community banks, and overlaps on product breadth across conventional, government, and jumbo loans.
• loanDepot: National retail and wholesale mortgage lender offering purchase, refinance, HELOC, and specialty products. Comparable to Novus on multi-channel distribution (retail, wholesale, DTC), digital platform, and product breadth.

Direct peers

• Fairway Independent Mortgage Corporation: Privately-held, mid-sized national mortgage lender with a branch-based LO model similar to Novus' 300+ officer network. Directly comparable on retail loan origination, non-QM and government loan offerings, and hybrid digital-plus-human service model.
• Guild Mortgage: National mortgage lender with similar size, branch-based LO distribution, and product breadth including non-QM and specialty programs. Compares closely to Novus on customer experience positioning and multi-state retail origination.
• PrimeLending: Mid-to-large national retail mortgage lender with a branch and LO network across the US. Comparable to Novus on retail origination focus, government and conventional product suite, and bank-affiliated balance sheet structure (part of PlainsCapital).
• NewRez (formerly New Penn Financial): National mortgage originator and servicer with retail, wholesale, and correspondent channels. Directly comparable to Novus on multi-channel distribution, government loan specialization, and servicing-enabled business model.
• Caliber Home Loans: National mortgage lender offering retail, wholesale, and correspondent origination with strong non-QM and specialty product lines. Compares to Novus on focus in non-traditional income and self-employed borrower segments.
• Paramount Mortgage: Mid-sized, privately-held national mortgage lender with a branch-based LO model and broad product offering. Closely comparable to Novus on size, retail distribution strategy, and product breadth including government and non-QM.
• Movement Mortgage: Privately-held national mortgage lender with branch-based LO distribution and a focus on customer experience and community engagement. Directly comparable to Novus on branch-led model, mid-tier scale, and hybrid digital-human origination approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/novushomemortgage
• LinkedInlinkedin.com/company/novus-home-mortgage
• Instagraminstagram.com/novushomemortgage/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novus Home Mortgage