Guild trims payroll as origination, servicing profits dive
Waning mortgage activity slashed net income 72% in the second quarter to $58.3 million.
Source: nationalmortgagenews.com
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Guild Earnings Buoyed By Increase In Servicing Rights
Guild Holdings Co. announced better than expected news at its earnings call on Friday, largely due to a significant increase in mortgage servicing income. The company reported net income from the servicing segment of $226.8 million compared to $27.3 million in the fourth quarter. Guild also reported that it retained servicing rights on 89% of the loans it sold in the first quarter of 2022. Despite the positive news, company officials did warn of potential job reductions.
Source: nationalmortgageprofessional.com
Guild Holdings Company (GHLD) CEO Mary Ann McGarry on Q1 2022 - Earnings Call Transcript
Guild Holdings Company (NYSE:NYSE:GHLD) Q1 2022 Earnings Conference Call May 6, 2022, 08:30 AM ET Company Participants Michael Kim - IR Mary Ann McGarry - CEO Terry Schmidt - President...
Source: seekingalpha.com
Guild's profit grows from servicing, purchase focus | National Mortgage News
But company officials warned slimmer margins and a slowing market would lead to staff reductions.
Source: nationalmortgagenews.com
Guild Holdings Company (GHLD) Q1 2022 Earnings Call Transcript
GHLD earnings call for the period ending March 31, 2022.
Source: fool.com