Home lending increased at Guild Mortgage Co. to the highest level ever. Meanwhile, the size of the national staff and the residential loan servicing portfolio both increased.
As part of the Mortgage Daily Second Quarter 2018 Mortgage Origination Survey, Guild reported that it serviced 208,246 single-family loans with a collective unpaid principal balance of $42.773 billion as of June 30.
The San Diego-based mortgage banking firm’s servicing portfolio increased from 198,806 loans for $40.016 billion as of three months previous. The portfolio was
172,615 loans for $34.126 billion as of mid-2017.
closed 20,733 loans for $4.875 billion during the three months ended June 30. Activity during the three-month period turned out to be an all-time high for the company.
Second-quarter 2018 production consisted of $4.680 billion in retail lending and $0.195 billion in correspondent acquisitions. Refinance share was just 12.3 percent.
During the six months ended mid-year 2018, Guild originated 35,246 loans for $8.340 billion — also a record.
In a news release, Guild Mortgage President and Chief Executive Officer Mary Ann McGarry noted that the home lender is growing from its base in the West into new areas added in recent years. These include Texas, the Southeast and the Midwest.
Guild finished the first half of this year with 4,377 people on its payroll. Headcount was raised from 4,216 employees three months earlier and 4,012 people one year earlier.