A great offer and a great opportunity aren't always the same thing. Here's what to ask before you commit.
The Offer Looks Good. That Doesn't Mean It Is Good.
Getting an offer is exciting, especially when you've been thinking about making a move for a while. Maybe the comp plan is stronger. Maybe you've been promised more leads, better support, or a path to leadership.
But I've been recruiting in the mortgage industry long enough to know that a shiny comp plan can make a loan officer feel like they've won the lottery, right up until month four. That's when the promised leads haven't materialized, the pipeline is thin, and the pricing can't win a deal they would have closed in their sleep at their last company.
In a market like this one, where every loan counts, that's a costly lesson. The offers that look best on paper are sometimes the ones that hurt the most in practice.
So before you sign anything, ask these questions. The right company will welcome them. If a hiring manager bristles at the directness, that's information too.
1. Where Will My Business Actually Come From?
Start here, because everything else depends on it.
If a company says they'll help you grow your production, ask what that actually means. Do they provide leads? Do they have builder or referral partnerships? Or will you be generating every loan yourself?
There's nothing wrong with a self-generated model. Plenty of loan officers have built incredible careers that way. But be honest with yourself about how much of your current business will follow you.
I recently worked with a strong producer whose book was almost entirely tied to a single builder relationship. On paper, the new offer was a step up. In reality, the builder business wasn't moving with them, and they'd be rebuilding from their personal database on day one.
The right question wasn't "What's the comp?" It was "Where is my next loan coming from?"
2. How Competitive Is Your Pricing?
This is the question too many loan officers skip because they don't want to seem difficult. Ask anyway.
Borrowers are rate-sensitive down to the smallest fraction of a point, and with fewer deals in the market, you can't afford to lose one on price. You need to know whether you'll be competing with the market or fighting your own pricing every day.
Ask to see live scenarios run through their pricing engine. Even better, bring two or three recent loans and compare them to what you closed at your current company.
Then go deeper. Who are their investors? Do they offer portfolio, jumbo, or Non-QM products? How are pricing exceptions handled, and who approves them?
If they can't, or won't, answer clearly, that's a red flag you can't afford to ignore.
3. How Is the Comp Plan Structured, Really?
Compensation is usually the first thing loan officers ask about, and it should be. But look beyond the basis points. Get the full plan in writing and ask specifically about:
- Basis points on self-sourced versus company-provided leads
- Production minimums required to keep your tier
- Transition support, such as a draw, guarantee, or ramp-up period while your pipeline moves over
- Clawback provisions on signing bonuses
- Marketing, licensing, or technology costs you're responsible for
- How overrides and branch economics work if you're in a leadership role
- How comp changes if a loan is restructured at closing
I've seen loan officers leave a 150 bps company for a 120 bps company and make significantly more money, because the pricing, support, and closing ratio were so much better. Comp is one variable. It's not the only one.
4. Who Is Supporting Me Behind the Scenes?
You can be an incredible salesperson with great Realtor relationships and a strong pipeline. But if operations aren't working, you'll feel it, and so will your referral partners.
Ask about the processor-to-loan-officer ratio. Is underwriting in-house or outsourced? What are current turn times and average days to close? How does communication work when a file runs into trouble?
These aren't rude questions. When volume is tight, a delayed or lost loan hurts even more, and it's what determines whether your referral partners keep sending you business.
5. Why Is This Role Open?
It's a simple question with a critical answer. Is the company growing and adding capacity? Or have the last three people in that seat left within a year?
Every company has turnover. That's normal. What matters is why people leave and how leadership responds when things aren't going well.
Pay attention to how they answer. Are they open and transparent, or do they get defensive?
Then ask to speak with a current loan officer, not a reference they've prepped, just someone doing the job day to day. The best companies have nothing to hide and will connect you without hesitation.
6. What Happens to My Pipeline If This Doesn't Work Out?
Ask about non-solicitation and non-compete agreements and exactly what they cover. Ask how loans in process are handled if a loan officer leaves, whether voluntarily or not. And understand how your license transfer will work so there's no gap in your ability to originate during the move.
This isn't pessimism. It's professionalism. A company that's been in business long enough has seen loan officers come and go, and should be able to answer this clearly.
7. What Do Success and Growth Look Like Here?
Ask what the company expects from you in your first 90 days, six months, and year, and whether those expectations are realistic in today's market. What happens if production slows? Is there coaching or mentorship?
If you have ambitions beyond your own production, ask whether loan officers have grown into branch or area manager roles internally, and what that path looks like. Get the milestones and compensation in writing.
And pay attention to the people. Ask about the leadership team's background and whether they've originated loans themselves. There's a meaningful difference between a company run by people who have sat in your seat and one run by people who see loan officers as a revenue line. You can usually feel that difference in how they talk about their people.
You're not just choosing a job. You're choosing who you'll trust with the next chapter of your career.
8. Am I Making This Move for the Right Reasons?
This last question is one you need to ask yourself.
Sometimes we start looking because we're frustrated. Maybe it's been a rough few months, there's been a change in leadership, or someone reached out with an offer that sounds too good to pass up.
Before you decide, ask yourself: Am I moving toward something better, or just away from something difficult? There's a difference. Sometimes the right answer is to make a change. Other times, it's worth a conversation with your current company first.
Either way, make the decision with a clear head.
A Good Offer Should Still Make Sense Six Months From Now
Your production is your livelihood. Your referral relationships took years to build. Your reputation follows you wherever you hang your license.
A bad move costs more than a bad year. It can cost you relationships and momentum that are hard to rebuild, especially in a market like this one.
So look past the excitement of today's offer. Will you have the support you need six months from now? A year from now? Will you enjoy the people you work with? Will you be building the career you actually want?
At The Mortgage Talent Network, my goal isn't simply to help loan officers find another position. It's to help mortgage professionals and companies find opportunities that genuinely make sense for both sides. The loan officers who ask the hardest questions upfront almost always land in the right seats.
If you're considering a move, let's talk before you make your next decision. Connect with me, Deena Sisson, on LinkedIn, email me at deena@mortgagetalent.net, or visit MortgageTalent.net.
Don't be afraid to be thorough. The right company will respect you for it.