Mortgage Daily Logo
mortgage news from industry experts

Guild Mortgage Growth Fueled by Correspondent

Quarterly home lending activity increased at Guild Mortgage Co., and the gain came solely from the correspondent channel. Staffing and servicing also grew.

Residential loan originations during the third quarter at Guild totaled 17,423 loans for $3.952 billion.

The San Diego-based company reported the details, as well as other operational data, as part of the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey.

Business improved from the previous quarter, when 16,687 home loans were closed for $3.827 billion.

Activity also accelerated compared to the same quarter in 2014, when Guild funded 9,738 mortgages for $2.065 billion.

From Jan. 1 through Sept. 30 of 2015, mortgage production amounted to 46,444 loans for $10.629 billion.

Third-quarter 2015 volume included $3.134 billion in retail originations, off three percent from the prior quarter, and $0.003 billion in wholesale business, sinking 81 percent from the second quarter.

But correspondent acquisitions surged 39 percent on a quarter-over-quarter basis
to $0.815 billion.

Also contributing to origination growth were last year’s acquisitions.

“The addition of Comstock Mortgage in Sacramento and Northwest Mortgage Group based in Portland boosted market share in those regions,” Guild President and Chief Executive Officer Mary Ann McGarry said in a news release.

McGarry projects that full-year 2015 volume will reach $12 billion.

Purchase financing accounted for
$7.5 billion of year-to-date volume.

Guild said it serviced 115,005 home loans for $20.752 billion as of Sept. 30, 2015.

The servicing portfolio grew from 106,282 loans for $18.939 billion three months earlier and
90,744 mortgages for $15.848 billion a year earlier.

The most-recent number was comprised of $1.382 billion in loans owned by the company and $19.369 billion in mortgages serviced for third parties.

Headcount finished last month at 2,704 people. Staffing expanded from 2,553 employees at the end of the second quarter and
1,938 people as of the close of the third-quarter 2014.

Branch count finished the third-quarter 2015 at 234, with offices located in 25 states.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION