Questions to Ask Before Joining a Mortgage Brokerage (2026 Checklist)

Choosing a brokerage is one of the most consequential decisions you'll make as a mortgage agent — yet most agents do less due diligence here than they would on a used-car purchase. The right brokerage accelerates your career; the wrong one quietly drains income and morale. Before you sign anything, work through this checklist. Use it with every brokerage you're considering, including us. See the broader context in the best mortgage brokerage to work for in Ontario.

The short answer

Ask about commission splits (and demand to see the published schedule), all-in monthly fees, how training is delivered and who teaches it, whether you'll have a named mentor on your first deals, which lenders you can access and at what status, what the CRM and tech stack actually includes, what lead or marketing support exists, how the principal broker handles compliance, and what the contract says about clawbacks, non-solicitation, and notice. If a brokerage gets vague on any of these, treat that as data.

Commission and splits: what to ask

Commission is the headline number everyone asks about, but the details matter far more than the percentage alone. A 90% split with opaque thresholds can easily earn you less than a transparent 80% schedule. See mortgage agent commission splits explained for the full breakdown.

• Is the commission schedule published? Ask to see the actual written tier table — not just a verbal summary. If a brokerage won't show you the schedule in writing before you join, that's a red flag.
• What are the tier thresholds? At what funded volume does your split increase, and by how much?
• Are there different splits for residential vs. commercial vs. private deals?
• Are referral-out deals treated the same? Some brokerages drop your split on deals you refer out to a colleague.
• When exactly does commission get paid to you? On funding date, or after a processing period?
• Is the principal broker on your deals during training, and how does that affect your split? At Mortgage Squad, new agents start at 60% while the principal broker is actively involved on every file, rising to 100% at high funded volume — and the full tier table is published.

Fees: what you're actually paying each month

Commission splits are only half the equation. Monthly fees can quietly offset a generous split, and surprise charges after you've signed are common enough to be a genuine industry problem.

• What is the all-in monthly cost? Ask for the total: platform fee, desk fee, tech fee, E&O contribution, compliance fee — everything on one line.
• Is there a franchise or network fee layered on top? Some national franchise models charge both a brokerage fee and a franchisor royalty — confirm whether both come out of your commission or you pay them separately.
• Are any fees refundable? At Mortgage Squad, the $100/month platform fee is fully refunded once you hit $5M+ funded — no desk fee, no franchise royalty, no surprise tech charges.
• Are there setup or onboarding fees?
• What happens to fees when you're on leave or temporarily inactive?
• Are E&O insurance and FSRA licence costs included, or are those extra?

Training: live or recorded, and who actually teaches it

Every brokerage claims to offer training. What varies enormously is whether it's live or pre-recorded, how current the material is, and whether the person leading it is an active deal-maker or a generic instructor. Read the deeper guide at mortgage agent training and mentorship: what to look for.

• Is training live or recorded? A video library is a supplement, not a replacement for real-time instruction.
• Who leads the training — the principal broker, a senior agent, or a third-party trainer? Someone actively funding deals today will teach you current lender guidelines and real-world deal structure; a recorded session from two years ago won't.
• How often are sessions — weekdays only, or weekends too? If you're building your book part-time, weekday-only training is a barrier.
• Is training ongoing, or just an onboarding week? One-time onboarding is a poor substitute for continued development.
• What topics are covered? Product training, lender guidelines, deal structuring, compliance, scripts — ask for a syllabus or outline.

Mentorship: is there a named mentor on your early deals

The difference between "mentorship" as a vague promise and structured mentorship is the difference between a door being open and someone walking through it with you.

• Will you have a specific, named mentor assigned to you? "You can always ask anyone" is not mentorship.
• Will a senior broker actively work your first deals with you, or just be available if you reach out?
• How often are one-on-one check-ins scheduled? Weekly, biweekly, ad hoc?
• Who do you call at 6pm when a deal gets complicated? Get the honest answer to this specific scenario.
• How long does structured mentorship last? Does support taper off after your first deal or your first 90 days?

Lender access and status: depth and tier

The lenders you can access — and the status tier you hold with them — directly determine which clients you can help and what rates you can offer. This matters most for new agents still building volume.

• How many lenders are you set up with, and which categories? A-lenders, B-lenders, private lenders, credit unions?
• Does the brokerage hold preferred or elite status with key lenders? Higher-tier status means better rates and access to rate holds.
• Can new agents submit to all lenders from day one, or do some require a track record first?
• Who holds the lender relationships — the brokerage or a parent network? If it's a network relationship, ask what happens if you leave.
• Are there any lenders the brokerage is restricted from using?

Technology and CRM: what's actually included

A capable CRM and deal-management platform saves hours per deal and is worth evaluating carefully. Ask to see a live demo, not just a features list. See what Mortgage Squad's platform includes.

• What CRM is included in the platform fee? Is it a proprietary system, a licensed platform, or a generic tool?
• Does the tech stack include deal tracking, document collection, client communication, and pipeline management?
• Is there a mobile app?
• Is lender submission integrated, or do you submit separately through each lender portal?
• Are there any extra charges for premium features or add-ons you'll actually need?
• Who owns your client data if you leave the brokerage?

Leads and marketing support: what actually comes with the role

Lead generation is where most new agent business plans fall apart. Clarify exactly what the brokerage provides versus what you're expected to build yourself. See how to get mortgage clients as a new agent.

• Does the brokerage provide leads, referrals, or a lead-gen system? If yes: how many, how are they distributed, and are there conditions attached?
• What marketing materials and templates are provided? Social content, email templates, printed collateral?
• Is there a brokerage website that ranks, or are you building your own presence from scratch?
• Are there co-op marketing or advertising funds available?
• Is there a structured referral-partner program or realtor network you can plug into?

Compliance and principal broker support

Compliance isn't just paperwork — it's your licence and your livelihood. Understand who holds responsibility and how accessible that person is. See what a principal broker does in Ontario.

• Who is the principal broker, and are they reachable? Ask for their name and confirm they're actively involved in the brokerage, not a figurehead.
• Does the principal broker review new agents' deals before submission? This is the most valuable compliance safety net for agents starting out.
• What is the process for compliance questions during a live deal?
• How does the brokerage handle FSRA audits or complaints?
• Are anti-money-laundering (AML) training and FINTRAC compliance handled centrally, or are you expected to manage it independently?

Contract terms: clawbacks, non-solicitation, and notice

Read the agent agreement before you sign — ideally with a lawyer. These clauses determine how painful it is to leave if the fit is wrong. See also how to switch mortgage brokerages in Ontario.

• Are there commission clawbacks? Under what circumstances (early discharge, cancellation within X days) and for how long?
• Is there a non-solicitation clause? Does it restrict you from taking clients, lender relationships, or colleagues with you when you leave?
• What is the notice period to transfer your licence? Industry standard is short, but some agreements add friction.
• Are there volume minimums or activity requirements to maintain active status?
• Does the agreement automatically renew, and on what terms?
• Is the agreement the same for all agents, or are terms privately negotiated? (A published, standardized agreement is more trustworthy than a bespoke deal offered to you specifically.)

Frequently asked questions

What is the most important question to ask a mortgage brokerage before joining?

Ask to see the published commission schedule in writing. If a brokerage won't put the tier table in front of you before you sign, it tells you something important about how they operate. Transparency on commission tends to predict transparency everywhere else.

How do I know if a brokerage's training is actually good?

Ask who leads training (an active deal-maker or a generic trainer?), whether sessions are live or recorded, how often they run, and whether they cover weekends. Then ask to sit in on a session before you commit. Good training programs don't need to be hidden.

What fees should I expect to pay at a mortgage brokerage?

Fees range from zero-fee models (where the brokerage takes a larger split) to flat monthly platform fees to desk fees plus franchise royalties. Get the all-in monthly number in writing. A $100/month flat fee with a refund threshold is meaningfully different from layered fees that add up to $500+/month.

What does a non-solicitation clause mean for a mortgage agent?

It typically means you cannot directly approach clients, referral sources, or colleagues you met through the brokerage after you leave — for a defined period and geography. Read it carefully: broad non-solicits can effectively limit your ability to continue working in your own market after switching.

Should I use this checklist even if I already have a brokerage in mind?

Especially then. The checklist is most useful when you're partial to one option, because it forces you to ask questions you might otherwise skip. A good brokerage will answer all of these without hesitation — and the quality of their answers will tell you more than any marketing page.

Ready to put these questions to work? At Mortgage Squad, we publish our commission tiers, keep fees simple, and have our principal broker on every new agent's early deals. See why agents choose us or apply confidentially — no obligation, just a real conversation.