Guild Holdings Co Stock Price, News & Analysis

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.

Guild Mortgage (NYSE: GHLD) has been awarded the Pro Patria Award by the South Carolina Employer Support of the Guard and Reserve for its exceptional support of employees who serve in the military. This recognition highlights Guild’s commitment to fostering a military-friendly workplace and providing paid time off for military training. Guild's regional vice president, Matt MacGillivray, accepted the award, underscoring the company's belief that military personnel bring valuable skills to the workforce. Additionally, Guild has made a formal Statement of Support committing to uphold the rights and services of military employees.

Guild Mortgage (NYSE: GHLD) has launched the upgraded 3-2-1 Home Plus mortgage program, allowing first-time homebuyers to purchase a home with only 3% down. This program includes a $2,000 Home Depot Gift Card and additional assistance of up to $2,500 for closing costs, depending on income and property type. Eligible borrowers must have a credit score of at least 620. The initiative aims to support low-to-moderate income buyers in the 49 states and D.C., enhancing affordability in a competitive housing market.

Guild Holdings Company (GHLD) reported its second-quarter results for 2022, showing total in-house originations of $5.7 billion, down 6% from the prior quarter. Net revenue decreased to $287.5 million, a 40% drop, while net income fell 72% to $58.3 million. Year-to-date, originations reached $11.8 billion, down 34% from 2021. Despite low refinancing volumes, the company retains a strong servicing portfolio with an unpaid principal balance of $75.9 billion, up 16% year-over-year. The company’s CEO emphasized plans to adapt to shifting market conditions and maintain liquidity for future opportunities.