Guild Mortgage’s Biz Up by Half, Staffing Surges

Mortgage News

Quarterly home lending activity at Guild Mortgage Co. was up by half from the prior period, while staffing expanded by 500 employees, and the servicing portfolio grew.

In the second quarter of this year, Guild Mortgage funded 17,903 residential loans for $4.067 billion.

Business climbed from three months earlier, when 11,855 home loans were closed for $2.703 billion.

Activity also accelerated from the second-quarter 2015, when production came to 16,687 mortgages for $3.827 billion.

The San Diego-based company provided the operational data, as well as other metrics, for the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.

For all six months that have so far elapsed during 2016, volume amounted to 29,758 units funded for $6.770 billion.

The latest business consisted of $2.536 billion in retail production and $0.167 billion in correspondent acquisitions

Guild Mortgage serviced 136,119
loans for $25.564 billion as of mid-2016.

The servicing portfolio increased from March 31, when 127,550 mortgages were serviced for $23.539 billion. It was also up from
106,282 loans for $18.939 billion as of June 30, 2015.

The June 30, 2016, number included $24.227 billion in third-party servicing.

Staffing closed out the latest period at 3,280 employees.

Headcount leapt from 2,784 people at the end of March and
2,553 employees at the same point last year.

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