Guild Mortgage Posts Record Growth in 2016 – NMP Skip to main content

Guild Mortgage Posts Record Growth in 2016

NationalMortgageProfessional.com
Feb 23, 2017
Guild Mortgage continued setting records during the second quarter and first half of 2018, with growth occurring in several markets across the U.S.

Guild Mortgage has reported record loan volume of $15.9 billion in 2016, up 15.3 percent from $13.8 billion in 2015.
 
Since 2010 when its loan volume was $4.1 billion, Guild has grown almost four-fold as it expanded from its base in the West to the Southwest, Southeast and South. Servicing volume showed even faster growth, reaching $29.9 billion in 2016, up 34.1 percent from $22.3 billion in 2015, an almost five-fold gain from $6.4 billion in 2010.
 
“Last year, we saw homebuyers turn to independent mortgage banking companies like Guild because of our expertise and broad range of product offerings,” said Mary Ann McGarry, president and CEO of Guild Mortgage. “Guild is always looking to open doors to new possibilities for first-time homebuyers and to give existing homeowners more choices. We continue to focus on purchase business, reaching new areas and serving the growing millennial market.”
 
Purchase loan volume reached $10.7 billion in 2016, or 67 percent of all loans, up 9.2 percent from $9.8 billion in 2015, and 70.8 percent of all loans. Guild closed 69,885 loans in 2016, up 10.3 percent from 63,358 in 2015. The average size of the loan reached $228,404 in 2016, up 4.6 percent from $218,381 in 2015.
 
McGarry said Guild recorded its fastest growth in some of its newer markets in the Southeast and Southwest, plus traditional strongholds in the West.
 
“When comparison shopping, homebuyers appreciate Guild’s customer service culture and attention to detail we’ve developed over 50 years in business,” McGarry said. “We serve customers throughout the life of the loan, beginning with finding the right option for each person.”
 
During 2016, the Southeast region (Georgia, Florida, Tennessee, Arkansas) ranked number one in growth, with loan volume of $992.6 million, up 48.4 percent from $668.7 million in the 2015 period. Colorado was No. 2 in growth, up 43.5 percent to $1.1 billion from $774.3 million. The Northwest region, including Washington and Oregon, was No. 3, up 37.1 percent to $4.7 billion from $3.4 billion. The Southwest region (Arizona, New Mexico and Nevada) was No. 4, up 32.3 percent to $1.8 billion from $1.4 billion. California Inland was fifth in growth, with $1.1 billion in loans in 2016, up 24 percent from $860 million in 2015.
 
States with largest loan volume in 2016 were: California, $3.3 billion; Washington, $2.6 billion; Oregon, $2.2 billion; Nevada, $1.2 billion; and Colorado and Texas, $1.1 billion each.
Guild serviced 155,129 loans in 2016, up 27.2 percent from 121,926 loans serviced in 2015. Average loan size was $193,315, up 5.7 percent from $182,897 in 2015.
Published
Feb 23, 2017
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community
Nov 23, 2021
MISMO Seeks To Standardize Pre-Closing Title Data

Forming workgroup to focus on standardizing document datasets to streamline process and increase efficiency.

Industry News
Nov 23, 2021
Pandemic's Impact On Real Estate Around The World

Although the impact of the COVID-19 pandemic on the real estate industry has been well-documented within the United States, it’d be prudent to know how the global event impacted other countries as well. 

Industry News
Nov 22, 2021
Housing Market Potential Strengthens Modestly

First American Financial Corporation's Potential Home Sales Model for October 2021 reported that potential existing-home sales increased 0.1% month-over-month to 6.27 million, with household formation continuing to grow, largely driven by millennials.

Analysis and Data
Nov 22, 2021