Shares in Guild Holdings gain 10% as investors recognize $23.9M net loss for the quarter was driven by a $70M writedown in the fair value of Guild's mortgage servicing rights portfolio
The San Diego-based lender has completed 5 acquisitions in the past 18 months in pursuit of market share, unfazed by a 21% drop in mortgage originations and a $39.1M 2023 net loss
The acquisition of the Aurora, Illinois-based, family-owned lender marks San Diego-based Guild Mortgage's fourth expansion since December, according to an announcement on Monday
The defection of former Fairway division manager John Lowe and 40 colleagues who originated $350M in loans last year "is equal to that of a mini acquisition"
Acquisition of Colorado-based Cherry Creek Mortgage expands Guild's retail branch network by 68 offices in 45 states, adds reverse loan options