By: Bishoi Nageh
Moving from one retail lender to another can change the logo without changing what you were hoping to fix. If you still want more flexibility, more options and more control, the broker channel may be worth a serious look.
Sometimes changing companies doesn’t change the things you wanted changed
I speak to you from my heart when I say this: I think it’s worth asking whether another move within the same model is really the answer.
Sometimes moving from one retail lender to another can feel like trading one jersey for the next. The logo changes, but sometimes the things you were hoping would change don’t change with it.
That doesn’t mean there’s anything inherently wrong with retail. There are great companies and great opportunities on both sides of this business.
But if you’ve made a change and still find yourself looking for more — more flexibility, more options, more control, more opportunity — maybe it’s worth looking at something you haven’t seriously considered before.
For him, that was the broker channel.
Look at what can happen in the right environment
One of the examples I gave him was Erez.
After 21 years in retail, Erez joined us five years ago. Since then, he has closed nearly $200 million in volume across roughly 440 loans.
More importantly, he’s never looked back. And he hasn’t had trouble getting loans to the finish line.
That’s important because one of the biggest concerns I hear from retail loan officers is that moving to the broker side somehow means giving up support, execution or the ability to get difficult loans closed.
Our experience has been very different.
Sometimes it isn’t about working harder. Sometimes it’s about putting yourself in an environment that gives you more ways to win.
The mortgage business is changing
The broker channel has continued to grow, and there’s a reason more loan officers are paying attention to it.
UWM built its business around wholesale lending. LoanDepot has made moves back toward the wholesale channel. And mortgage brokers now represent a significant portion of mortgage originations.
I remember asking him a very simple question:
Have you ever met a loan officer who went from the broker channel back to retail?
Of course those people exist. But the question was meant to make him think.
Because once you experience having multiple lenders competing for your business, it can be difficult to imagine going back to having only:
- One set of products
- One pricing structure
- One credit box
- One set of overlays
As a broker, you’re no longer limited to what one company can offer. You can have access to dozens of lenders with different products, pricing, guidelines and specialties.
And for a loan officer who already knows how to self-source business, that can completely change the conversation.
So I asked him the question I really wanted answered
I wasn’t trying to convince him that he had made bad career decisions. I wasn’t trying to bash retail.
I genuinely wanted to understand what was stopping him from looking at something different. So I asked:
What would you need to see, hear or have in place to feel comfortable taking a serious look at the broker channel?
That question matters more to me than any recruiting pitch.
Because changing where you work is a big decision. Leaving a model you’ve known for years can feel even bigger.
There are legitimate questions about support, operations, compensation, technology, benefits, lead generation, processing and whether your business will actually work in a different environment.
Those questions deserve real answers.
The downside isn’t as permanent as people sometimes think
Another thing I told him was this: retail opportunities aren’t going anywhere.
If you move to the broker side, give it a real shot and ultimately decide it isn’t right for you, retail will still exist.
- The experience doesn’t disappear.
- The relationships don’t disappear.
- Your ability to originate mortgages doesn’t disappear.
That’s why I felt so strongly about encouraging him to at least experience the other side.
In fact, I was so confident in what we had built that I told him if he came to us, gave it 120 days and genuinely decided it wasn’t right for him, I’d give him $25,000 for leaving.
I wanted him to understand how serious I was. Not because I thought the broker channel was right for every loan officer, but because I believed it was right for him.
And I was confident enough in our environment to put something behind those words.
Sometimes betting on yourself starts with being willing to look
The point of that letter wasn’t: “Retail is bad. Brokering is good.”
It was much simpler than that.
If you keep making changes and still aren’t finding what you’re looking for, maybe it’s worth asking whether you need another company… or another way of doing business entirely.
There are talented loan officers all over this industry who have spent their entire careers in one model simply because it’s what they know.
And sometimes familiarity is the only thing standing between someone and an opportunity that could fundamentally change their career.
Frequently asked questions
What’s the main difference between retail and the broker channel?
In retail, you work with one lender’s products, pricing, credit box and overlays. As a broker, you can access dozens of lenders with different products, pricing, guidelines and specialties.
Will I lose support or the ability to close difficult loans?
That’s one of the most common concerns we hear from retail loan officers. Our experience has been very different. Erez, for example, has closed roughly 440 loans in his five years with us after 21 years in retail.
What if I make the move and it isn’t right for me?
Retail opportunities aren’t going anywhere. Your experience, your relationships and your ability to originate mortgages all go with you.
Who is the broker channel a good fit for?
It isn’t right for every loan officer. It can be a strong fit for loan officers who already know how to self-source business and want more flexibility, options and control.
What questions should I ask before considering a move?
Ask about support, operations, compensation, technology, benefits, lead generation, processing and whether your business will actually work in a different environment. Those questions deserve real answers.
What to do next
So if you’re a loan officer reading this and any part of it made you stop for a second, I’ll leave you with the same question:
What would you need to see, hear or have in place to feel comfortable taking a serious look at the broker channel?
No pitch. No pressure. Let me show you what it actually looks like.
Then decide for yourself whether it could help you grow, do more and become better at what you do.
Let’s have a real conversation
No pitch. No pressure. Just honest answers to your questions.