First Colony Mortgage
First Colony Mortgage is a privately held, Utah-based direct mortgage lender operating 17 branches across nine states with 80 loan officers, originating 12 loan programs in-house and deploying Tidalwave AI-powered point-of-sale technology for retail borrowers and the FCM TPO wholesale channel.
- Company typePrivate
- Founded1984
- HeadquartersPleasant Grove, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What First Colony Mortgage does
First Colony Mortgage Corporation is a privately held, full-service direct mortgage lender founded in 1984 and headquartered in Pleasant Grove, Utah. The company originates, processes, underwrites, funds, and closes loans in-house through 17 branch offices across nine states — Utah, Idaho, Nevada, California, Colorado, Tennessee, Pennsylvania, and Arkansas — staffed by 80 loan officers out of a total headcount in the 101–250 band. It serves primarily retail consumers across 12 loan programs covering FHA, Conventional, VA, USDA Rural Housing, Utah Housing first-time-buyer products, and Reverse Mortgages, with borrower segments spanning first-time homebuyers, refinancing homeowners, veterans, rural buyers, and seniors (62+). Distribution combines a physical branch-led sales motion with digital self-service (online portal, MortgageMe mobile app powered by nCino), and a referral-driven acquisition engine built on realtor relationships and a preferred-lender partnership with EDGE Homes, Utah's largest home builder. The company claims 60,000+ homes funded since founding, 20 awards earned, and 40+ years of continuous operation under NMLS# 3112.
The revenue model is transaction-based with three main streams: origination and settlement fees on closed loans (one-time, per loan), gain-on-sale revenue and interest income earned while loans are warehoused prior to sale to GSE investors (Fannie Mae, Freddie Mac), and recurring monthly servicing fees on retained or transferred servicing portfolios. Pricing is loan-specific — no public rate card — and varies by loan type, borrower credit, LTV, and lock commitments. GTM is sales-led through geographically distributed loan officers, supplemented by an FHA-heavy first-time buyer focus, VA lending for veterans, and new-construction financing via builder partnerships. The 2023 asset acquisition of Guaranty Home Mortgage Corp introduced a parallel wholesale origination channel operated under the FCM TPO DBA, headquartered in Brentwood, Tennessee.
Technology strategy centers on the May 2026 enterprise-wide deployment of Tidalwave's AI-powered point-of-sale platform — featuring the Solo AI assistant for document review, dual automated underwriting, income/asset verification, and real-time borrower communication — integrated with Encompass (loan origination system) and Optimal Blue (product pricing). The company has no disclosed institutional investors or parent entity; ownership is characterized as independent with no venture or private equity stake identified in the record, though an affiliated insurance entity (First Insurance LLC) operates under common ownership for cross-sell of homeowners insurance products.
First Colony Mortgage firmographics
Firmographics- Name
- First Colony Mortgage
- Legal name
- First Colony Mortgage Corporation
- Website
- https://firstcolonymortgage.com
- Company type
- Private
- Founded year
- 1984
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- First Colony Mortgage is a privately held, Utah-based direct mortgage lender operating 17 branches across nine states with 80 loan officers, originating 12 loan programs in-house and deploying Tidalwave AI-powered point-of-sale technology for retail borrowers and the FCM TPO wholesale channel.
- Ownership category
- akta.pro rank
First Colony Mortgage industry classification
Industry- Product category
- Residential Mortgage Lending
- NAICS
- Real Estate Credit (522292)
- SIC
- Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- First-Time Homebuyer (FTHB) Mortgage Origination (FSALAAAG)
- akta.pro secondary industries
- Mortgage Loan Sales & Aggregation (Correspondent/Conduit Aggregators) (FSALAFAD), HELOC & Second-Lien Wholesale Lending (FSALACAG)
Keywords
Where First Colony Mortgage is headquartered
LocationHeadquarters
- HQ city
- Pleasant Grove
- HQ country
- United States
- HQ region
- North America
Offices18 records
Markets served
First Colony Mortgage business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Mortgage Origination: Fees charged for originating mortgage loans including origination fees, points, and other settlement charges. Revenue generated when borrowers close on mortgage loans.
- Interest Income: Revenue from holding mortgages and earning interest on loan portfolios during the period before loans are sold to investors or serviced long-term.
- Loan Servicing: Monthly servicing fees collected on loans that remain on their books or are transferred to long-term servicers. Loans are transferred to servicers approximately 15 days prior to payment due date.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | FHA Loans - Government-insured mortgages with 3.5% down payment requirement |
| Transaction based/ take rate | Monthly | Conventional Loans - Traditional conforming mortgages |
| Transaction based/ take rate | Monthly | VA Loans - Veterans Administration insured loans |
| Transaction based/ take rate | Monthly | Rural Housing (RDA) - USDA-backed rural financing |
| Transaction based/ take rate | Monthly | Utah Housing - State-sponsored first-time buyer program |
| Transaction based/ take rate | Monthly | Reverse Mortgages - FHA-insured loans for seniors 62+ |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels8 records
First Colony Mortgage product offering
Product offeringCore offering
First Colony Mortgage Corporation is a direct residential mortgage lender that originates, processes, underwrites, funds, and closes home loans in-house through 17 branch locations staffed by 80 loan officers. It sells 12 loan programs including FHA, Conventional, VA, USDA Rural Housing, Utah Housing, and Reverse Mortgage, supporting home purchase and refinance borrowers across 9 U.S. states. A wholesale/correspondent channel, FCM TPO, was added through the 2023 acquisition of Guaranty Home Mortgage Corp assets.
Product overview
First Colony Mortgage Corporation operates as a mortgage lender offering a comprehensive suite of loan products and digital services. The company has two main operational divisions: its core retail lending business offering FHA, Conventional, VA, Rural Housing, Utah Housing, and Reverse Mortgage loan programs, and FCM TPO (a DBA resulting from the 2023 acquisition of Guaranty Home Mortgage Corp assets) serving as a wholesale origination channel. The company has recently deployed the Tidalwave AI-powered point-of-sale platform featuring the proprietary AI assistant Solo for document review, automated underwriting, and borrower verification. Additional digital tools include a mortgage calculator and mobile application for borrowers.
Differentiator
Problem solved
Functional benefit
Products and services
- FHA Loans Government-insured FHA mortgage allowing qualified buyers to purchase a home with as little as 3.5% down, with flexible qualification guidelines and debt-to-income ratios up to 55%. Requires up-front and monthly mortgage insurance for the life of the loan. Supports no-cost, no-qualifying streamline refinance.
- Conventional Loans Conforming mortgage loans meeting Fannie Mae and Freddie Mac guidelines, with loan terms from 10 to 30 years and down payments as low as 3% on primary residence purchases. Monthly private mortgage insurance required when down payment is below 20%; MI can be cancelled at 80% loan-to-value.
- VA Loans Veterans Administration insured loans for eligible veterans and active-duty service members offering up to 103% financing with no down payment and no monthly mortgage insurance. Includes a VA up-front funding fee that can be financed into the loan.
- Rural Housing (RDA) Loans USDA-backed rural housing loans offering 100% financing with no down payment required for properties in USDA-designated rural areas. Financing up to 103.5% of appraised value, 2.0% upfront guarantee fee (financeable), and low monthly mortgage insurance premium.
- Utah Housing Loans State-sponsored first-time homebuyer program combining a first and second mortgage to deliver 100% financing with no down payment. Down payment and closing costs can be financed; requires up-front and monthly mortgage insurance. Annual income limits $75,500–$105,500.
- Reverse Mortgage FHA-insured reverse mortgage for homeowners age 62 or older that allows them to convert home equity into a lump sum, monthly income, or line of credit with no required repayment as long as they live in the property. Typically requires 40–50% equity in the home.
- FCM TPO (Wholesale / Correspondent Origination Channel) Turnkey wholesale / correspondent mortgage origination channel (DBA of First Colony Mortgage Corporation) that delivers loan products, processing, underwriting, and funding support to third-party mortgage lenders and broker partners, with regional offices in Brentwood, Tennessee.
Quantifiable outcome
- 60,000+ homes funded since 1984
- +1 more outcomes
Companies that use First Colony Mortgage
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles3 records
First Colony Mortgage technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability4 records
Feature4 records
First Colony Mortgage partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- Guaranty Home Mortgage Corp (GHMC)minorIn June 2023, First Colony Mortgage acquired assets from Guaranty Home Mortgage Corp (GHMC). This acquisition expanded operations into Tennessee with regional offices in Brentwood, TN. First Colony now operates FCM TPO (a DBA) serving the correspondent lending channel.
- TidalwavecoreAI mortgage technology partnership. Tidalwave provides AI-powered point-of-sale platform featuring Solo AI assistant for automated document review, dual automated underwriting, income/asset verification, and Encompass/Optimal Blue integration. Fully deployed across all loan officer and operations teams as of May 2026. Positions First Colony as early adopter in AI mortgage technology.
- nCino, Inc.coreThird-party technology provider powering mobile and digital application platforms. Enables applicants to upload images and documents and provide information necessary to complete the mortgage application process.
- EDGE HomescorePreferred lender partnership with Utah's largest home builder. First Colony is the exclusive or preferred financing partner for EDGE Homes' 50+ floor plans across Utah communities. Provides streamlined financing for new construction purchases.
- First Insurance LLCminorAffiliated insurance company under common ownership. May contact customers to offer homeowners insurance or related insurance products in connection with mortgage loans. Information sharing permitted for mortgage-related services and transaction support.
- Fannie MaecoreGovernment-sponsored enterprise investor. First Colony's loans must conform to Fannie Mae guidelines for purchase. Tidalwave platform integrated with Fannie Mae systems for automated underwriting approvals.
- Freddie MaccoreGovernment-sponsored enterprise investor. First Colony's conventional loans must conform to Freddie Mac guidelines. Tidalwave platform integrated with Freddie Mac systems for automated underwriting approvals.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
First Colony Mortgage competitors and assessment
Company assessmentBroad incumbents
- loanDepot: National mortgage lender with retail, wholesale, and consumer-direct channels offering a full product suite. A broad incumbent that competes with First Colony across multiple GTM motions.
- Rocket Mortgage (Rocket Companies): Largest U.S. mortgage lender by volume with national digital-direct and retail operations. Not a direct branch-by-branch competitor but sets the competitive benchmark on pricing, technology investment, and brand reach.
Direct peers
- United Wholesale Mortgage (UWM): Largest U.S. wholesale mortgage lender. Directly comparable to First Colony's FCM TPO wholesale channel as both compete for third-party originator (TPO) volume.
- Guild Mortgage: Retail-focused mortgage lender operating a multi-state branch network with in-house processing, underwriting, and a broad product set including FHA, VA, USDA, and conventional. Closest comparable in branch-based community lender model.
- Planet Home Lending: Retail and wholesale mortgage lender with broad product set including government, conventional, and reverse mortgages. Similar dual retail/wholesale GTM and product breadth to First Colony.
- Fairway Independent Mortgage Corporation: Branch-based retail mortgage lender with a similar multi-state footprint, broad loan program menu, and relationship-driven LO model. Highly comparable to First Colony's structure and product mix.
- Caliber Home Loans: Retail and wholesale mortgage lender offering conforming, government, and non-QM products with national branch and TPO channels. Directly comparable given First Colony's parallel retail (FCM) and wholesale (FCM TPO) structure.
- Homepoint: Wholesale and retail mortgage lender with broad product offerings; closely comparable to First Colony's wholesale TPO strategy via FCM TPO and to retail branch competitors.
- NewRez (formerly New Penn Financial): Retail and wholesale mortgage lender offering a broad suite of government, conventional, and specialty products. Comparable to First Colony on multi-channel origination and product diversity.
- PrimeLending: National retail mortgage lender with a branch model focused on purchase money mortgages, builder partnerships, and a wide product set. Comparable to First Colony on branch distribution and builder relationships.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First Colony Mortgage social profiles
Digital presenceFirst Colony Mortgage financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Colony Mortgage leadership team
Management profileNumber of profiles
Profiles1 record
First Colony Mortgage subsidiaries and ownership
Company hierarchySubsidiaries1 record
First Colony Mortgage funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Colony Mortgage M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Colony Mortgage
What does First Colony Mortgage do?
First Colony Mortgage Corporation is a direct residential mortgage lender that originates, processes, underwrites, funds, and closes home loans in-house through 17 branch locations staffed by 80 loan officers. It sells 12 loan programs including FHA, Conventional, VA, USDA Rural Housing, Utah Housing, and Reverse Mortgage, supporting home purchase and refinance borrowers across 9 U.S. states. A wholesale/correspondent channel, FCM TPO, was added through the 2023 acquisition of Guaranty Home Mortgage Corp assets.
Is First Colony Mortgage a public or private company?
First Colony Mortgage is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was First Colony Mortgage founded?
First Colony Mortgage was founded in 1984. It employs 101 to 250 people.
Where is First Colony Mortgage based?
First Colony Mortgage is headquartered in Pleasant Grove, United States, in the North America region.
How does First Colony Mortgage make money?
Three revenue lines are on record. Mortgage Origination is the primary driver. The others are interest Income and loan Servicing.
Who are First Colony Mortgage's main competitors?
Broad incumbents on record are loanDepot and Rocket Mortgage (Rocket Companies). Direct peers are United Wholesale Mortgage (UWM), Guild Mortgage, Planet Home Lending, Fairway Independent Mortgage Corporation, Caliber Home Loans, Homepoint, NewRez (formerly New Penn Financial) and PrimeLending.
Does First Colony Mortgage have an API?
No public API is recorded for First Colony Mortgage.
What industry is First Colony Mortgage in?
First Colony Mortgage's product category is Residential Mortgage Lending. Its primary akta.pro industry code is FSALAAAG, First-Time Homebuyer (FTHB) Mortgage Origination, with a secondary code of FSALAFAD, Mortgage Loan Sales & Aggregation (Correspondent/Conduit Aggregators). Its NAICS code is 522292 and its SIC code is 6162.