City First Mortgage Services, LLC

What City First Mortgage Services, LLC does

City First Mortgage Services, LLC is a Utah-domiciled residential mortgage banker founded in 1992/1993 (conflicting dates across company pages) and headquartered in Bountiful, Utah. The company originates and services a full suite of residential mortgage products — Conventional Fixed, FHA Fixed, VA Fixed, Jumbo Fixed, Adjustable Rate Mortgages (ARMs), Reverse Mortgages for homeowners aged 62+, and Construction/Renovation Loans including one-time close products. It is a direct lender that funds loans from its own balance sheet and processes and underwrites in-house, with delegated underwriting authority for conventional and government products per Fannie Mae, Freddie Mac, and FHA/VA guidelines.

The company's technology stack is built around the Encompass loan origination system (LOS) for end-to-end loan processing, supplemented by web-based online applications, the proprietary Mortgage Management Program (MMP) for post-closing borrower monitoring and refinance alerts, online calculators, a checklist tool, and PayPal-integrated online fee payment. Distribution occurs through a national network of full-service retail branches and licensed loan officers across 27 states (with company licensing in 39+ states), supported by a branch partnership program that recruits independent brokerages as originating branches. Marketing emphasizes education via a Mortgage Learning Center, BBB A+ trust signals, and personalized service.

Revenue is generated through two streams: (1) transactional mortgage origination income from origination fees, interest margins on held loans, and ancillary fees (credit reports, appraisals, inspections), and (2) recurring loan servicing income from collecting monthly payments and managing escrow on serviced loans. Customer segments are horizontally diversified across home purchase, refinance, cash-out, FHA first-time buyers, VA military borrowers, jumbo luxury buyers, seniors seeking reverse mortgages, and construction/renovation borrowers. The company holds NMLS #3117, is an Equal Housing Lender, BBB A+ accredited, and GLBA/CCPA/A2P 10DLC compliant. Ownership is concentrated among founding/management team (Van Wagoner; President Jon Prussel), with no disclosed institutional investment, public listing, or M&A activity.

Name

City First Mortgage Services, LLC

Legal name

City First Mortgage Services, LLC

Website

https://city1st.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Short description

City First Mortgage Services is a Utah-based residential mortgage banker originating and servicing Conventional, FHA, VA, Jumbo, ARM, Reverse, and Construction loans through a multi-state retail branch and licensed loan officer network, serving individual homebuyers, military borrowers, and seniors.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

First-Time Homebuyer (FTHB) Mortgage Origination (FSALAAAG)

Keywords

• Residential mortgage lending
• Mortgage origination services
• Loan servicing
• Construction loans
• Reverse mortgages

Headquarters

HQ city

Bountiful

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mortgage Origination: The company originates residential mortgage loans including purchase mortgages, refinancing, and construction loans. Revenue is generated through origination fees, interest margins on held loans, and fees associated with the loan process (credit reports, appraisals, inspections). City First makes residential loans from its own funds.
2. Loan Servicing: The company services loans it originates, collecting monthly payments and managing escrow accounts for property taxes and insurance.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

City First Mortgage Services is a residential mortgage banker that originates, processes, underwrites, and services mortgage loans from its own funds. The company offers a unified suite of loan products including Conventional Fixed, FHA, VA, Jumbo, Adjustable Rate Mortgages (ARMs), Reverse Mortgages, and Construction/Renovation loans. Loans are delivered through licensed loan officers, retail branch offices, and an online application portal across 39+ U.S. states.

Product overview

City First Mortgage Services operates as a mortgage banker offering a unified suite of residential lending products. The core offerings include Conventional Fixed, FHA Fixed, VA Fixed, Jumbo Fixed, Adjustable Rate, and Reverse Mortgages, plus Construction and Renovation Loans. These are complemented by technology tools including an Online Loan Application, Mortgage Calculators, Mortgage Checklist, and Mortgage Management Program (MMP). The Mortgage Learning Center provides educational content. All loan processing uses Encompass as the Loan Origination System (LOS). The company processes and underwrites its own loans according to Fannie Mae/Freddie Mac/Government guidelines.

Differentiator

Problem solved

Functional benefit

Products and services

• Conventional Fixed Mortgages Fixed-rate mortgage loans with constant interest rates and monthly payments that never change, available in 30-year and 15-year terms, with down payments as low as 3%.
• FHA Fixed Mortgages Government-backed 30-year fixed-rate mortgages insured by the Federal Housing Administration for first-time homebuyers with limited down payments and less-than-optimal credit.
• VA Fixed Mortgages U.S. Department of Veterans Affairs-backed mortgages for active-duty service members, veterans, and surviving spouses with 100% financing up to conventional loan limits and no down payment or PMI requirements.
• Jumbo Fixed Mortgages Home loans exceeding conforming loan limits ($484,350; $726,525 in high-cost areas), ranging from $484,351 to $3 million for primary residences, vacation homes, and investment properties.
• Adjustable Rate Mortgages (ARMs) Hybrid ARMs (3/1, 5/1, 7/1) offering lower initial interest rates with fixed payments for an initial period before converting to adjustable rates.
• Reverse Mortgage Loans for homeowners over 62 years of age that convert part of home equity into cash payments, with no monthly mortgage payment requirements until the home is sold.
• Construction and Renovation Loans Construction loans for paying contractors during building, renovation loans for remodeling, and one-time close loans that combine construction and long-term financing.
• Mortgage Management Program (MMP) Free automated monitoring service that alerts borrowers when they can lower payments, interest rates, eliminate mortgage insurance, or utilize home equity based on market indicators.
• Loan Servicing Monthly payment collection and escrow account management for property taxes and insurance on loans originated by the company.

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

One partnership is on record.

• Financial Health PartnersminorOthersCity First has partnered with companies that can help customers achieve financial health goals. These partners provide services complementary to mortgage offerings, including tools and resources for financial wellness.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Rocket Mortgage: Rocket Mortgage (formerly Quicken Loans) is the largest U.S. retail mortgage originator, offering the same suite of conventional, FHA, VA, and Jumbo products as City First, but at massive scale with proprietary technology. Comparable as the dominant retail mortgage banker.
• PrimeLending: PrimeLending, a subsidiary of PlainsCapital Bank (Hilltop Holdings), is a national retail mortgage originator with full conventional, government, and renovation products. Comparable as a larger multi-state retail lender with similar offerings.
• United Wholesale Mortgage (UWM): UWM is the largest U.S. wholesale mortgage lender, indirectly comparable to City First through shared products and the broker/branch ecosystem, though it operates in the wholesale channel rather than primarily retail.

Direct peers

• LoanDepot: LoanDepot is a retail and wholesale mortgage originator offering conventional, government, and HELOC products through loan officers across the U.S. - closely comparable business model, scale, and product offering to City First.
• Guild Mortgage: Guild Mortgage is a privately-held retail mortgage banker with a multi-state branch network and a similar product mix including government, conventional, and specialty programs. Comparable mid-size independent retail lender.
• Fairway Independent Mortgage Corporation: Fairway Independent Mortgage is a retail-direct mortgage banker with a national footprint, offering Conventional, FHA, VA, USDA, and Jumbo products through branch offices and loan officers. Closely comparable independent retail model.
• NewRez (Rithm Capital): NewRez is a top-15 U.S. mortgage originator and servicer offering retail, wholesale, and correspondent channels with conventional and government products. Comparable as a multi-channel mortgage banker with similar product breadth.
• Caliber Home Loans: Caliber Home Loans is a retail and wholesale mortgage originator with a full suite of Conventional, FHA, VA, USDA, and non-QM products. Comparable mid-size mortgage banker with similar geographic and product positioning.
• Planet Home Lending: Planet Home Lending is a privately-held mortgage banker offering retail, wholesale, and correspondent origination with a focus on affordable, government, and specialty products. Similar multi-channel model and product breadth to City First.
• Movement Mortgage: Movement Mortgage is a privately-held, retail-focused mortgage banker offering conventional, government, and specialty products across a multi-state branch network. Closely comparable mid-size independent retail lender to City First.

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/city1stmortgsvc
• Facebookfacebook.com/city1stcorporate
• LinkedInlinkedin.com/company/city-1st-mortgage-services

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about City First Mortgage Services, LLC