Why not Nxe5?

I was going through the game explorer looking at different plays. I ended up on this board with white to play and noticed that there were no games in the database where white played Nxe5.

The 3 most played moves (Nd2 Rb1 Bb2) all work to stop the fork of black moving Nb3. But, if white played 12. Nxe5 Nd2  white could then follow with Rb1 and if black plays Nxc1, white recaptures with the queen and is up a pawn while still defending his a pawn. It also allows white to put pressure on the b7 and c6 squares. What am I missing that makes this so bad that no one would play it?

1. Nxe5?! looks unpleasant for white after 1... Bf6.  The point is that if white plays 2. Bf4, black has 2... g5, so white has to play 2. f4 after which 2... Nb3 with the threat of Qd4+ picks up the exchange.  The try 2. Nc4 also doesn't help as after 2... Nxc4 3. dxc4 Bxc4 black still has a clear advantage.

When I looked at tiger's 1...Bf6, I felt that 2f4 did well.  Then I looked at a line you suggest in the question.

1...Nb3 2 Rb1 Qd4 and I think white loses the exchange although he gets pawns as compensation.

I can see that.

I was thinking something like this:

1. Nxe5 Bf6 2. Bxb7  my calculation skills aren't the best but it seems like this could work out ok for white. That rook is trapped because if it moves to attack white can fork the queen and rook. So it seems like the follow up for black is Bxe5.

From there is where my calculations are probably off but it seems like white would capture the rook with 3.Bxa8. Black could follow with 3...Nb3 and white with 4.Bb2 Nxa1.  That would leave boths sides a rook down and white would have traded a knight for 2 pawns.

1 Nxe5 Bf6 2 Bxb7 Bxe5 3 Bxa8 Qxa8 is much better for Black, who threatens both Bh3 and Nb3, winning material.

Ahh yes. There's no good follow up to that which doesn't leave white down.

So all in all Nxe5 just does not work out well for white. Nd2 certainly seems like the best move now.