Guild Holdings Co Stock Price, News & Analysis

The Guild Giving Foundation, established by Guild Mortgage, hosted its fourth annual Charity Golf Tournament on October 6, 2022, raising $380,000 for local charities in San Diego. Funds were allocated to organizations like MyPath2Own Dedicated to Lisa Klika, Urban Corps of San Diego County, and Home Start. A total of $1.3 million has been raised over four events, highlighting community involvement and support. The new MyPath2Own initiative, honoring the late Lisa Klika, aims to help potential borrowers become mortgage-ready. Notable sponsors included Wells Fargo and Bank of America. Guild Mortgage aims to enhance homeownership opportunities while emphasizing community engagement.

Guild Holdings Company (NYSE: GHLD) has announced that it will release its financial results for the first quarter ended March 31, 2023 after market close on May 8, 2023. A conference call will be held at 5:00 p.m. EDT on the same day to discuss the results. Investors can access the call via the Guild Holdings Investor Relations website or dial in using the provided numbers for domestic and international access. A replay will be available until May 22, 2023. Established in 1960, Guild is a growth-oriented mortgage company focused on relationship-based loan sourcing, operating in 49 states and the District of Columbia.

Guild Mortgage has expanded its operations by establishing a new district in California, which includes a team of 40 employees and eight branch offices. This new district is expected to generate over $350 million in annual production. John Lowe has been appointed as the district manager, overseeing a team of area managers, branch managers, and loan officers. In 2022, Guild recorded $1.9 billion in loan originations in California. This expansion is described as a significant move, comparable to a mini acquisition, highlighting the team's reputation and loyalty. Guild now boasts around 4,000 employees and 300 branches across 49 states, providing a comprehensive range of mortgage products, including VA loans and government-backed programs.

Guild Mortgage (NYSE: GHLD) announced the upcoming retirement of CEO Mary Ann McGarry effective June 30, 2023, after nearly 40 years with the company. Terry Schmidt, currently president, will take over as CEO on July 1, 2023. McGarry, who will remain on the board, has been instrumental in the company's expansion across the U.S. Schmidt has worked alongside her since 1985. Guild Mortgage is recognized for its customer-centric approach and offers a variety of loan products, including VA loans. The company has over 4,000 employees and operates in 49 states.

Guild Mortgage (NYSE: GHLD) has announced the acquisition of Cherry Creek Mortgage, a top 10 reverse mortgage lender based in Colorado. This move aims to enhance Guild's reverse mortgage division by integrating it into its existing mortgage platform across approximately 300 branches nationwide.

The acquisition is aligned with Guild's strategy to meet the growing market demand for reverse mortgages, especially as the population ages. With Cherry Creek's established expertise and proprietary technology, Guild is positioned to expand its market presence and offer comprehensive solutions to borrowers and other lenders.

Guild Mortgage (NYSE: GHLD) has acquired Cherry Creek Mortgage, LLC, expanding its network with 68 branches across 45 states. This strategic move aligns with Guild's commitment to customer service and community engagement. Founded in 1987, Cherry Creek has shown steady growth, now becoming a division of Guild led by co-founder Jeff May. Guild aims to leverage synergies between both companies to enhance their market presence, particularly in purchase and reverse mortgages. The acquisition, represented by JMP Securities, did not disclose financial terms but highlights Guild's intention to strengthen its service offerings in the mortgage lending landscape.

Guild Holdings Company (NYSE: GHLD) reported its fourth quarter and full-year financial results for 2022, revealing total in-house originations of $19.1 billion, down 48% from the previous year. The fourth quarter net revenue was $134.3 million, a 49% decline quarter-over-quarter, leading to a net loss of $15 million. Despite these challenges, the company maintained a strong focus on purchase mortgages, with 93% of closed loans being purchase business. The servicing portfolio grew 11% to $78.9 billion, while the adjusted net income decreased by 73% to $70 million. Guild's capital strategy includes recent acquisitions to enhance its market presence.