First Mortgage Direct
First Mortgage Direct is a Kansas City-based correspondent mortgage lender (a division of Bison State Bank) that originates, closes, and sells home loans to GSE and bank investors, serving U.S. consumers nationwide through a 100% digital platform across purchase, refinance, and pre-qualification products.
- Company typePrivate
- Founded2008
- HeadquartersKansas City, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What First Mortgage Direct does
First Mortgage Direct is a U.S. correspondent mortgage lender headquartered in Kansas City, Missouri, operating as a division of Bison State Bank (Member FDIC, NMLS #757416). Founded in 2008 in the aftermath of the mortgage industry's reputation crisis, the company positions itself as a transparent, no-pressure alternative to disreputable lenders, serving retail consumers nationwide across purchase, refinance, and pre-qualification use cases. Its primary customer segments are home buyers (including first-time and repeat purchasers via conventional 30-year and 15-year fixed, FHA, and VA loans), refinancing households (rate/term and cash-out), and pre-qualification seekers.
The company operates a 100% digital mortgage platform featuring online applications, a secure document upload portal, digital processing, and e-closing capabilities, supported by an inside sales team of Loan Consultants. Its product surface includes a broad range of fixed-rate purchase products, refinance services with no origination fees, free pre-qualification, and a content layer of more than 10 financial calculators and educational videos. The technology is described as standard correspondent-lender tooling with online application and document workflows; no proprietary AI, API, or SDK surface is offered.
First Mortgage Direct originates and closes loans in its own name, then sells them to mortgage investors such as Fannie Mae and Freddie Mac, earning the spread between origination and sale rather than upfront origination fees (no origination fees are charged on refinance transactions). Pricing is fully individualized — custom rate quotes are provided per applicant based on loan amount, credit profile, and LTV, with no publicly published rate sheet. Customer acquisition is direct-to-consumer via SEO, content marketing, calculators, video, social media, email newsletter, and free rate-quote calls-to-action funneled into a hybrid self-serve / inside-sales conversion motion.
First Mortgage Direct firmographics
Firmographics- Name
- First Mortgage Direct
- Legal name
- First Mortgage Direct, a division of Bison State Bank
- Website
- https://fmdloans.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- First Mortgage Direct is a Kansas City-based correspondent mortgage lender (a division of Bison State Bank) that originates, closes, and sells home loans to GSE and bank investors, serving U.S. consumers nationwide through a 100% digital platform across purchase, refinance, and pre-qualification products.
- Ownership category
- akta.pro rank
First Mortgage Direct industry classification
Industry- Product category
- Residential Mortgage Lending
- NAICS
- Depository Credit Intermediation (5221), Credit Intermediation and Related Activities (522)
- SIC
- Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Consumer Direct / Online Mortgage Origination (FSALAAAB)
Keywords
Where First Mortgage Direct is headquartered
LocationHeadquarters
- HQ city
- Kansas City
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
First Mortgage Direct 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: As a correspondent lender, First Mortgage Direct originates mortgages by making loans to customers, closing them, and then selling them to mortgage investors such as FannieMae, FreddieMac, or mortgage banks. The company earns revenue through the spread between origination and sale.
- No Origination Fees for Refinancing: The company explicitly states they have no origination fees for refinance transactions, generating revenue through loan sale margins rather than upfront fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Custom mortgage rate quotes - individualized pricing based on customer profile |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
First Mortgage Direct product offering
Product offeringCore offering
First Mortgage Direct is a correspondent mortgage lender that originates and closes residential home loans (purchase mortgages, refinances, and pre-qualifications) and sells them to investors such as Fannie Mae and Freddie Mac. The company operates a 100% digital platform supporting online applications, secure document upload, digital underwriting, and electronic closing, complemented by Loan Consultants who guide customers nationwide through the process.
Product overview
First Mortgage Direct is a direct mortgage lender offering a unified digital mortgage platform with a comprehensive suite of mortgage products and financial planning tools. The core offering includes fixed-rate purchase mortgages (30-Year Fixed, 15-Year Fixed, FHA, and VA loans), refinance services, and pre-qualification services. Supporting the core lending products are interactive financial calculators (Monthly Payment, Rent vs. Own, APR, Debt Consolidation, Pre-Payment Savings, Early Payoff, Refinance Break-Even, Tax Savings, Home Closing Cost, Should I Refinance), educational video content, and a secure document upload portal. The company operates as a correspondent lender, closing loans and selling them to investors like Fannie Mae and Freddie Mac. No public API is offered.
Differentiator
Problem solved
Functional benefit
Products and services
- 30-Year Fixed Mortgage Traditional 30-year fixed-rate purchase mortgage with consistent monthly payments over the life of the loan, providing payment stability and predictability for residential homebuyers nationwide.
- 15-Year Fixed Mortgage Fixed-rate purchase mortgage with a 15-year term that lowers total interest costs relative to 30-year terms for borrowers who can sustain higher monthly payments.
- 30-Year Fixed FHA Loan Federal Housing Administration-insured 30-year purchase mortgage designed for first-time homebuyers and borrowers seeking lower down-payment requirements.
- 30-Year Fixed VA Loan Veterans Affairs-backed 30-year purchase mortgage for eligible veterans and service members offering favorable terms and no down payment requirement.
- Mortgage Refinance Services Refinancing solutions for existing homeowners to lower monthly payments, access cash-out equity, consolidate debt, or change loan terms, with no origination fees and custom solutions tailored to the borrower's financial profile.
- Mortgage Pre-Qualification Free preliminary assessment of a borrower's finances and credit to determine a price range for home shopping and help buyers present as serious, qualified purchasers.
- Online Mortgage Rate Quote Free, no-obligation digital service that delivers personalized mortgage rate quotes based on the applicant's loan amount, credit profile, and down payment information.
Quantifiable outcome
- Refinance closing in approximately 60 days
- +1 more outcomes
Companies that use First Mortgage Direct
Customer profileSegments3 records
Ideal customer profiles3 records
First Mortgage Direct technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
First Mortgage Direct partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights4 records
First Mortgage Direct competitors and assessment
Company assessmentMarket position
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
First Mortgage Direct social profiles
Digital presenceFirst Mortgage Direct compliance and trust
Trust signalCompliance6 records
First Mortgage Direct financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Mortgage Direct leadership team
Management profileNumber of profiles
First Mortgage Direct subsidiaries and ownership
Company hierarchySubsidiaries1 record
First Mortgage Direct funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Mortgage Direct M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Mortgage Direct
What does First Mortgage Direct do?
First Mortgage Direct is a correspondent mortgage lender that originates and closes residential home loans (purchase mortgages, refinances, and pre-qualifications) and sells them to investors such as Fannie Mae and Freddie Mac. The company operates a 100% digital platform supporting online applications, secure document upload, digital underwriting, and electronic closing, complemented by Loan Consultants who guide customers nationwide through the process.
Is First Mortgage Direct a public or private company?
First Mortgage Direct is a private company. It is classified as corporate owned and is currently operating.
When was First Mortgage Direct founded?
First Mortgage Direct was founded in 2008. It employs 51 to 100 people.
Where is First Mortgage Direct based?
First Mortgage Direct is headquartered in Kansas City, United States, in the North America region.
How does First Mortgage Direct make money?
Two revenue lines are on record. Mortgage Origination is the primary driver. The others are no Origination Fees for Refinancing.
Does First Mortgage Direct have an API?
No public API is recorded for First Mortgage Direct.
What industry is First Mortgage Direct in?
First Mortgage Direct's product category is Residential Mortgage Lending. Its primary akta.pro industry code is FSALAAAB, Consumer Direct / Online Mortgage Origination. Its NAICS code is 5221 and its SIC code is 6162.