Guild Holdings Co. experienced a significant loss of $66.9 million in Q3 2024 despite an origination volume increase to $6.9 billion, signifying both challenges and growth potential.
CEO Terry Schmidt highlighted that despite the loss, the company is seeing positive momentum from prior acquisitions, particularly in its originations segment which posted profitable results.
The company's servicing portfolio grew to $91.4 billion in UPB, yet it faced a net loss largely due to a downward valuation adjustment of Mortgage Servicing Rights (MSRs) attributed to interest rates.
According to CFO Amber Kramer, the company maintains confidence in its platform and disciplined approach to deliver long-term value, emphasizing profitable, long-term market share gains.
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