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February 2026 - Journey to $1 Billion
- Scott Peckford
- Feb 16
- 5 min read
Updated: Mar 19
We are on a quest to transform the mortgage industry.
We believe there needs to be more transparency, which is one reason why we decided to share a monthly report on what we have learned, what worked and what didn’t, and what’s next in our plans to grow a Billion Dollar Brokerage.
We hope you find a few useful ideas and tidbits to help you in growing your mortgage business.
Welcome to February 2026
Brokerage Stats
Production since August 1, 2021
Volume: $5,707,789,599
Files funded: 12,332
January Production
Volume: $206,433,644
Files funded: 416
January Agent Stats
Rookies: 191 (+2)
Pros: 169 (-5)
Intermediate: 50
Total Agents: 410
Licensed assistants: 36 (+3)
Top 10 Lender Volume YTD
Scotiabank – $537,110,41
TD Bank – $35,798,781
MCAP – $21,808,081
First National – $20,881,450
Merix – $18,613,120
RMG – $10,002,735
Home Trust – $8,911,455
EQ Bank (B) - $7,995,721
Strive - $7,637,844
RFA (A) - $6,823,931
Did you know there are up to 4 types of compensation on every file?
When I started in the mortgage industry in 2006, Volume Bonus felt a lot like Fight Club.
The first rule was you do not talk about Volume Bonus.
At the time, it seemed like something only owners, and maybe a few top producers, really understood.
What I later learned is that Volume Bonus is just one of four types of compensation that can be earned on a mortgage file.
Here is the simple version:
Finder’s Fee. Compensation paid in basis points for funding a mortgage with a lender. The amount varies by term. For simplicity, I use a 5 year term in the examples.
Volume Bonus. Compensation paid in basis points based on the total volume submitted by one individual over a set period. Usually a calendar year or the lender’s fiscal year.
Efficiency Bonus. Compensation paid in basis points for maintaining a specific funding ratio over a set period. Lenders use different names, but the idea is the same. Higher efficiency can earn additional basis points.
Points or Perks Programs. Compensation that is usually not paid in basis points. It is often tied to funding ratios, volume bonus, or both. It also does not get paid with your regular commission. It has to be spent on qualifying items.
To make things more confusing, not all lenders pay all four types. They also use different names for the same compensation.
At BRX, we pass down all four types to our agents.
That matters.
Because if you cannot ask a BDM how compensation works at your brokerage, that is usually a red flag.
Why do lenders structure compensation this way?
Because from the lender’s perspective, they are trying to drive specific behaviour from brokers.
If lenders had a love language, it would be volume and efficiency.
That part makes sense.
The real problem starts when there is no transparency around how compensation is actually paid.
That is why I wrote a two part blog called Why Does No One Talk About Volume Bonus? It breaks down how compensation works and where brokers can miss what is happening underneath the surface.
Today, brokers expect transparency.
They should.
Your Broker Owns The Equity. You Do The Work. Still OK With That?
Most brokers do not stop long enough to ask a simple question:
Who is actually getting wealthy from all this production?
I did not ask it myself for years.
I have been a broker since 2006. I coached brokers through the 10 Loans a Month Academy. I watched some of the sharpest agents in the country build massive books and send millions in volume through their brokerage.
And I kept seeing the same pattern.
Agents did the work. Owners built the equity.
That is the model.
I remember when experienced brokers I had coached started calling me about joining BRX. At the time, BRX was not even designed for pros.
But they wanted in.
Not because of the split.
Because they were tired of building someone else’s asset while owning none of it.
They were the ones driving production.
But the brokerage was the one becoming more valuable every year.
That was the disconnect.
And when I was offered multiple times to sell BRX, it forced me to think more deeply about the model.
Most brokerages are built so the owners can win big, even when they are not the ones funding the mortgages.
I turned down every offer.
Why?
Because I wanted the people doing the work, the agents and the staff, to own part of the thing they are building.
Not rent it.
Not fuel it.
Own it.
Most brokers are still in the same position I once was. They help someone else accumulate the long term wealth while they collect a split.
That is why this matters.
You Don’t Need Talent. You Need This.
I was recently chatting with Wilma, who now holds the record for the fastest graduation from our Rookie to Intermediate program.
She funded 11 files in 155 days.
The previous record was 165 days.
Wilma wanted the record. She went after it. She beat it.
But that is not the real story.
Speed was not the secret.
Traits were.
Yes, she is competitive and committed.
But that is still not the real secret to her success.
She was coachable.
She followed the plan exactly as it was laid out.
No reinventing. No ego. Just execution.
She has since built a large mortgage business that continues to grow.
You may not care about breaking records.
But if you are coachable, if you are consistent, and if you are willing to execute on a proven plan, there is real opportunity here.
Videos Won’t Save You When a Deal Is on the Line
Most new mortgage agents hear the same promise when they start:
“We have great training.”
What that usually means is a library of videos, a weekly call, and a PDF you are supposed to figure out on your own.
That is not training.
That is content.
Real training shows up when you are staring at a file and do not know how to structure it. When a lender pushes back and you are not sure why. When a client needs answers and you can feel the clock ticking.
That is where most rookies struggle.
Not because they are incapable.
Because theory does not translate cleanly into live files.
At BRX, training happens inside the work.
You learn while submitting real deals. You get support from coaches who explain the why, not just the what. And you get help built into your day, not bolted on after the fact.
That changes things.
You do not just get better.
You get calmer. More confident. More consistent.
That is what training should do.
If you want to see how our model supports new agents from day one, book a quick call with our team below.
-> Let’s Chat
Clarity beats chaos.
Every time.
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