"According to filings with the Securities and Exchange Commission (SEC), 86% of closed loan origination volume was from purchase business, compared to the Mortgage Bankers Associations industrywide estimate of 67% for the same period. Our team delivered another quarter of solid performance across both our retail origination and servicing platforms, demonstrating continued positive momentum and the successful execution of our balanced business model, Guild CEO Terry Schmidt said in a statement."
"We continue to realize robust growth as we delivered strong year-over-year increases in adjusted net income, adjusted EBITDA, and adjusted return on average equity during the third quarter, while achieving 7% year-over-year growth in originations as we focus on our customer-for-life strategy, Schmidt added. We remain well-positioned for continued growth as we expand our leading platform and work toward completing our pending transaction with Bayview."
"Guild's origination segment net income was $35 million in the third quarter. up from $23.4 million in the second quarter. Gain-on-sale margins on originations increased by 18 bps on a quarterly basis and were up 14 bps annually to 347 bps. Gain-on-sale margins on pull-through adjusted locked volume increased slightly quarter over quarter, while they were down slightly year over year to 319 bps. Total pull-through adjusted locked volume was $7.7 billion compared to $7.5 billion last quarter, according to the company's SEC filing."
Guild reported that 86% of closed loan origination volume came from purchase business, exceeding the Mortgage Bankers Association industry estimate of 67% for the same period. The company achieved 7% year-over-year growth in originations and produced year-over-year increases in adjusted net income, adjusted EBITDA, and adjusted return on average equity during the third quarter. Originations segment net income rose to $35 million from $23.4 million in the prior quarter, and gain-on-sale margins increased to 347 bps annually. Servicing net income improved to $44.5 million from $27.3 million. A proposed $1.3B sale to Bayview is pending and expected to close in Q4 2025.
Read at www.housingwire.com
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