Business

How City Creek Mortgage Helps Its Clients Achieve the Lowest Possible Mortgage Rates

Published

5 years ago

March 13, 2021

The housing market has been booming lately, which means a lot of prospective homeowners are looking for mortgage providers. When taking out a mortgage, one of the most crucial things to look at is the interest rate. Most mortgages last either 15 or 30 years, so even small differences in the interest rate can add up.

Mike “Mortgage Mike” Roberts, co-founder and president of City Creek Mortgage, understands the ins and outs of mortgages, including how getting the lowest rate possible is a top priority. He started City Creek Mortgage over 20 years ago, with the goal of creating better options for everyone hoping to buy a home using a loan.

Roberts explained his goals when he said, “I want our clients to know they can trust us to always be looking out for them. We’re going to help get the best interest rates because we know how much that can do to help your family build a stable financial position.”

Through Mike’s efforts to create a better mortgage experience for customers, he’s learned how to get the best rates possible for clients — here’s how he does it:

Cutting Out the Commission

If you’ve ever taken out a home loan before, chances are your loan officer was paid on commission. Chances are if any of your family and friends who’ve purchased a home with a mortgage also worked with a loan officer who was paid on commission.

The mortgage industry has run off of commission-based employees for decades.

This means that loan officers’ compensation is tied to whether or not they can push you forward to close a loan, even if it’s not the best option for you. In some circumstances, commission-based system incentives loan officers to encourage people to take larger loans than needed or to take loans with bad interest rates.

In order to ensure customers are getting good loans with the best rates, City Creek Mortgage pays loan officers on salary. This allows these loan officers to give optimal advice to clients because their incomes aren’t dependent on selling clients on loans with huge amounts of interest.

Said Roberts, “We want to help our customers build a solid financial future. So, no, our loan officers wouldn’t try to upsell a customer on a larger loan because we know it’s not in the customer’s best interest. We don’t want to make money by squeezing every penny out of each customer. We want to make money by earning trust and loyalty from each of our clients.”

Prioritizing Clients Over Profits

Many people don’t understand all the details about loans and interest rates. Interest rates change often. Because of this, it’s easy for lenders to take advantage of people who haven’t taken the time to shop around for different mortgages or researched how to get the lowest possible rate.

It benefits the lenders to offer higher rates because it means you’ll end up paying more in interest, however, this practice ends up causing unnecessary financial strain on clients. City Creek Mortgage believes in prioritizing clients’ needs over earning more money.

Roberts spoke about the way the company functions:

“We’re a client-for-life company. That means we want our clients to be happy with what we offer in the long-term. We want to earn their trust and treat them like family. We believe in walking away from money rather than walking away from good people. We apply this principle to both our employees and to our clients.”

With clients, rather than profit, in mind, City Creek Mortgage may occasionally earn a smaller profit, but they make up for it by retaining clients and building a strong reputation as a company that can be trusted.

Understanding Clients’ Individual Needs

City Creek Mortgage is a close-knit, family-style company.

Roberts explained the nature of the company culture, stating, “We believe in taking care of each other and our clients. In fact, we believe in that principle so strongly, it’s one of our five core values. Because we want to take care of individuals, we look into what types of mortgages will best suit their needs.”

City Creek Mortgage speaks with clients about their unique situations in order to advise on the type of loan that is best for them. Not everyone knows that some aspects of home loans are flexible. Some clients will opt for a no-cost mortgage so they can save money on closing costs. Others will opt for a low-cost mortgage in order to get the lowest possible rate.

There are benefits to both low-cost and no-cost mortgages and each person’s unique situation will determine which is the best fit for them. The emphasis on seeing clients as individuals at City Creek Mortgage helps the team to advise each client on the best option for them.

Sometimes clients will come to City Creek Mortgage looking for a second opinion on the loan they’ve been offered from a different lender. Because the company cares more about helping people find the best possible loan for their situation, sometimes they tell potential clients that their lender is already giving them a great deal.

For City Creek Mortgage, giving the best advice possible is more important than making a sale, especially if that sale is not in the best interest of the client. By doing this, they’re able to build lifelong relationships with clients.

Business

Derik Fay and the Quiet Rise of a Fintech Dynasty: How a Relentless Visionary is Redefining the Future of Payments

Published

1 day ago

October 17, 2025

Matthew Wiles

Long before the headlines, before the Forbes features, and well before he became a respected fixture in boardrooms across the country, Derik Fay was a kid from Westerly, Rhode Island with little more than grit and audacity. Now, with a strategic footprint spanning more than 40 companies—including holdings in media, construction, real estate, pharma, fitness, and fintech—Fay’s influence is as diversified as it is deliberate. And his most recent move may be his boldest yet: the acquisition and co-ownership of Tycoon Payments, a fintech venture poised to disrupt an industry built on middlemen and outdated rules.

Where many entrepreneurs chase headlines, Fay chases legacy.

Rebuilding the Foundation of Fintech

In the saturated space of payment processors, Fay didn’t just want another transactional brand. He saw a broken system—one that labeled too many businesses as “high-risk,” denied them access, and overcharged them into silence. Tycoon Payments, under his stewardship, is rewriting that narrative from the ground up.

Instead of the all-too-common “fake processor” model, where companies act as brokers rather than actual underwriters, Tycoon Payments is being engineered to own the rails—integrating direct banking partnerships, custom risk modeling, and flexible support for underserved industries.

“Disruption isn’t about being loud,” Fay said in a private strategy session with advisors. “It’s about fixing what’s been ignored for too long. I don’t chase waves—I build the coastline.”

Quiet Power, Strategic Depth

Now 46 years old, Fay has evolved from scrappy gym owner to an empire builder, founding 3F Management as a private equity and venture vehicle to scale fast-growth businesses with staying power. His portfolio includes names like Bare Knuckle Fighting Championships, BIGG Pharma, Results Roofing, FayMs Films, and SalonPlex—but also dozens of companies that never make headlines. That’s by design.

Where others seek followers, Fay builds founders. Where most celebrate their exits, Fay reinvests in people.

While he often deflects conversations around his personal wealth, analysts estimate his net worth to exceed $100 million, with some placing it comfortably over $250 million, based on exits, real estate holdings, and the trajectory of his current ventures.

Yet unlike others in his tax bracket, Fay still answers cold DMs. He mentors rising entrepreneurs without cameras rolling. And he shows up—not just with capital, but with conviction.

A Mogul Grounded in Real Life

Outside of business, Fay remains committed to his role as a father and partner. He shares two daughters, Sophia Elena Fay and Isabella Roslyn Fay, and has been in a relationship with Shandra Phillips since 2021. He’s known for keeping his personal life private, but those close to him speak of a man who brings the same intention to parenting as he does to scaling multimillion-dollar ventures—focused, present, and consistent.

His physical stature—standing at 6′1″—matches his professional gravitas, but what’s more striking is his ability to operate with both discipline and empathy. Fay’s reputation among founders and CEOs is not just one of capital deployment, but emotional intelligence. As one partner noted, “He’s the kind of guy who will break down your pitch—and rebuild your belief in yourself in the same breath.”

The Tycoon Blueprint

The playbook Fay is writing at Tycoon Payments doesn’t just threaten incumbents—it reinvents the infrastructure. This isn’t another “fintech startup” with a flashy brand and no backend. It’s a strategically positioned venture with real underwriting power, cross-border ambitions, and a founder who understands how to scale quietly until the entire industry has to take notice.

In an age where so many entrepreneurs rely on noise and virality to build influence, Fay remains a master of what can only be called elite stealth. He doesn’t need the spotlight. But his impact casts a long shadow.

Conclusion: The Empire Expands

From Rhode Island beginnings to venture boardrooms, from gym owner to fintech force, Derik Fay continues to build not just businesses—but a blueprint. One rooted in resilience, innovation, and long-term infrastructure.

Tycoon Payments may be the latest chess piece. But the game he’s playing is bigger than one move. It’s a long game of strategic leverage, intentional legacy, and generational wealth.

And Fay is not just playing it. He’s redefining the rules.