The lender pays a finder's fee on each funded mortgage, the brokerage keeps a share and pays the broker the rest. The share depends on the brokerage model and often on the broker's volume.
When a mortgage funds, the lender pays the brokerage a finder's fee, commonly quoted as a percentage of the mortgage amount and varying by lender, product and term. The brokerage keeps a portion, the split, and pays the broker the balance, usually on a monthly or twice monthly payroll. Some lenders add volume bonuses or trailer fees, which are shared the same way.
Splits in Canada run across a wide range depending on the model. High split, high fee brokerages keep less per file and charge fixed fees. Full service brokerages keep more per file and carry processing, compliance and support. Many use volume tiers, so the split improves as your funded volume rises. The industry ranges are set out in the full guide; our own compensation is top tier and competitive, set against your volume, and discussed on a discovery call rather than published.
The split is one line on the sheet. Fees, lender status and what is carried for you decide the rest.
We publish how to compare us with everyone else because the comparison holds up. Every fee is in writing before you sign. Lender status is top tier from your first submission. Processing, compliance and payroll are carried at head office. The portal is included; BrokerDam is a paid CRM at a member rate, never a bundle. Compensation is top tier and competitive, set against your volume, and worked through on a discovery call with your last twelve months in front of us. We provide the infrastructure. You build the book.
The full guide, with the detail and the numbers.
Mortgage broker commission splits explainedSix things that decide whether a new mortgage agent funds files in year one: training, a mentor, lender status, underwriting support and a 90 day plan.
Ten brand names, three parent companies. Who owns what in Canada's mortgage brokerage networks and how that changes the way you read a recruiting pitch.
Most recruiting pitches compete on one number. A framework for comparing brokerages on what lands in your account after fees, royalties and lender status.
Bring your questions to a discovery call and a broker owner will answer them directly.