Guild Holdings Co Stock Price, News & Analysis

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.

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.