Guild Holdings Co Stock Price, News & Analysis

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.

Guild Holdings Company (GHLD) has announced it will release its fourth quarter and full year results for the period ending December 31, 2022 after market close on March 9, 2023. The company aims to showcase its growth-oriented mortgage services through a relationship-based loan sourcing strategy to facilitate homeownership across the United States. Following the release, management will host a webcast and conference call at 5:00 p.m. EST on the same day to discuss financial metrics. A replay of the call will be available until March 23, 2023.

Guild Mortgage has strengthened its presence in the Southwest by acquiring Legacy Mortgage, an independent lender based in New Mexico. Founded in 2002, Legacy brings 13 branches across Arizona, Colorado, New Mexico, and Texas. This acquisition aligns with Guild's strategy to grow in existing and new markets through selective acquisitions. The merger allows Legacy to broaden its loan offerings, including FHA, VA, and USDA loans, while enhancing customer service with Guild's established digital tools. Although terms were undisclosed, the acquisition reflects Guild's commitment to expanding its competitive edge in the growing Southwest market.

Guild Mortgage (NYSE: GHLD) launched its Making Paradise Home initiative to address housing needs in Paradise, California, following the devastating 2018 Camp Fire. In collaboration with partners like Clayton Homes, the initiative aims to build affordable, sustainable manufactured homes to assist displaced residents. The project will showcase CrossMod™ Homes, which combine the affordability of traditional manufactured housing with the quality of site-built homes. At least one home will be available for educational tours and sales. With a focus on homeownership education, Guild continues its commitment to serving communities impacted by disasters.

Guild Mortgage (NYSE: GHLD) has launched a new loan program, Payment Advantage, designed to assist homebuyers in managing rising mortgage interest rates. Under this program, Guild will cover 1% of the interest rate for the first year, subsequently allowing borrowers predictable payment increases. Available until March 31, 2023, the offer accommodates first-time and repeat buyers with minimal down payments and credit scores starting at 620. Additionally, refinancing options are available without lender fees through December 2025, aiming to provide financial relief amid escalating mortgage costs.

Guild Mortgage has announced its acquisition of Inlanta Mortgage, Inc., a Wisconsin-based lender operating in 27 states. This strategic move aims to enhance Guild's presence in the Midwest and expand its range of loan products. CEO Mary Ann McGarry emphasized that Inlanta's strong management and culture align well with Guild's values. Although acquisition terms are undisclosed, it is expected to improve customer service and provide borrowers with more options. Guild has established itself as a leading national lender since 1960, offering diverse mortgage solutions.

Guild Holdings Company (NYSE: GHLD) reported its third quarter 2022 results with total originations of $4.4 billion, a 24% decline from the previous quarter. Net revenue decreased 9% to $261 million, despite a 33% increase in net income to $77 million. The servicing portfolio grew 2.5% to $77.7 billion. Adjusted net income rose 74% to $24 million, demonstrating strong profitability amidst challenging market conditions. The company’s return on equity improved to 25.2%, focusing on maintaining liquidity for growth.

Guild Holdings Company (NYSE: GHLD) will release its third quarter financial results for the period ending September 30, 2022 on November 3, 2022, after market close. A conference call and webcast are scheduled for 6:00 p.m. EST on the same day, accessible via the Guild Holdings Investor Relations website. The company focuses on relationship-based loan sourcing to promote homeownership across the U.S., having been established in 1960 and licensed in 49 states and the District of Columbia.