Guild’s Servicing Grows, YTD Lending Record

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10 · 31 · 17

The servicing portfolio expanded on a quarter-over-quarter and year-over-year basis at Guild Mortgage Co. as year-to-date originations reached an all-time high.

San Diego-based Guild reported that it serviced 182,560 loans with an aggregate unpaid principal balance of $36.540 billion as of Sept. 30.

The total, reported
as part of the Mortgage Daily Third Quarter 2017 Mortgage Origination Survey, grew from 172,615 loans for $34.125 billion as of mid-2017.

Guild previously reported a servicing portfolio of
146,026 loans for $27.876 billion at the same point last year.

Single-family production came to 18,797 loans for $4.398 billion during the third quarter of this year.
Retail made up $4.141 billion, and correspondent acquisitions were $0.257 billion.

Overall business was modestly more than the 18,353 loans closed for $4.228 billion in the previous three-month period and 20,370 loans for $4.709 billion the same three months last year.

So far this year, Guild has originated 50,722 loans for $11.673 billion.

A news release from the mortgage banking firm indicated that year-to-date volume
was an all-time record.

Purchase financing made up $9.5 billion and refinancing accounted for $2.2 billion.

“The Southeast region led with 26.8 percent growth and had the lowest average loan size of $174,507,” Guild President and Chief Executive Officer Mary Ann McGarry said in the statement. “Compare that with our California Coastal Region, with an average loan size of $282,725, or Northwest, close behind at $279,947. We are optimistic about future growth in all areas based on continued strengths in the regional economies and more millennials reaching the age when they are in a position to consider buying a home instead of renting.”

Staffing was trimmed to 3,937 employees from 4,012 three months earlier. Headcount was higher, though, than
3,335 people at the conclusion of September 2016.

Mortgage Expert

Mortgage Daily Staff