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Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Guild Reports Increased Staffing, Servicing

Q3 originations off 13% from Q2

Nov. 22, 2013

By Mortgage Daily staff

Although quarterly mortgage production was down at Guild Mortgage Co., the lender increased the size of its servicing portfolio and staff. Since launching operations in South Carolina last year, Guild has seen robust growth in the region.

The San Diego-based lender reported $1.771 billion in national third-quarter production.

Guild says that it funds most of its production.

Activity slumped from $2.045 billion in the prior three-month period but was little changed from the third quarter of last year, when mortgage production was $1.850 billion.

During the first nine months of 2013, home loan originations amounted to $5.526 billion.

Year-to-date production included $200 million in originations from South Carolina -- a market that Guild has only been in since June 2012.

Guild said that South Carolina has many first-time homebuyers.

As of Sept. 30, seven South Carolina branches housed around 66 employees. Another branch was opened in the state just this month.

"The growth in the South Carolina market has come as a result of a strategic plan initiated by the Guild management leadership team to take advantage of what it saw as favorable future market dynamics in the state: the end of the recession, decreasing unemployment rates, pent up housing demand and an improving economy," an announcement said. "Guild took a determined approach to growing a presence and recruiting top talent in the South Carolina market."

Also fueling the growth in South Carolina are government tax breaks, down payment assistance and state foreclosure prevention programs.

Across all states, Guild employed 1,857 people as of the end of the third quarter, more than the 1,807 on the payroll as of June 30.

Human resources have grown from year earlier, when headcount was 1,554.

Guild maintained a servicing portfolio of $12.980 billion as of Sept. 30.

The servicing portfolio has expanded from $12.196 billion at the end of the second quarter and $9.686 billion at the same point last year.

"We are optimistic about the rest of 2013 and 2014 based on recent economic and housing trends," Guild President and Chief Executive Officer Mary Ann McGarry said in the statement. "This includes indications of a steady increase in the number of first-time homebuyers, which can contribute to the nation’s overall economic recovery and growth in South Carolina."

Guild Mortgage profile

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