Guild Mortgage Achieves Record Results in 2015 in Loan Volume, Servicing, Correspondent Banking
Loan Volume Hits $13.8 Billion, Up 86.1 Percent from 2014, Led by Fast-Growing Northwest, Southwest and Southeast Regions
SAN DIEGO--(BUSINESS WIRE)-- Guild Mortgage, one of the largest independent mortgage bankers in the U.S., achieved record growth in 2015, with loan volume reaching $13.8 billion, up 86.1 percent from $7.4 billion in the 2014 period.
The growth continues a trend started in 2010. In five years, loan volume has more than tripled from $4.1 billion and Guild has expanded from its western base with 75 branches in 16 states in 2010 to 234 branches in 25 states at the end of 2015.
“Our growth is a testimony to the quality of our people, our culture of customer service and the competitive advantages we enjoy as an independent mortgage banking company,” said Mary Ann McGarry, president and CEO of Guild. “Our ability to offer a comprehensive portfolio of mortgage loan options allows Guild to help more potential homebuyers – everyone from the first-time homebuyer with VA and FHA financing to those moving up to jumbo loans. Our entrepreneurial, team-oriented approach has also helped attract top professional talent as we expanded into new markets.”
Guild continued its strength in purchase loans, totaling $9.8 billion in 2015, or 71.3 percent of its loan volume, up 62.6 percent from $6.1 billion and 81.6 percent of volume in 2014. Guild closed 60,331 loans during the 2015 period, up 72 percent from 35,116 in the 2014 period. The size of the average loan was $228,707 in 2015, up 8.3 percent from $211,166 in 2014.
“The increase in average loan size speaks to the growing strength of the housing market,” McGarry said. “We are looking forward to seeing how this trend continues in the first quarter of 2016 and beyond.”
McGarry said the largest average loans during 2015 were: Hawaii, $415,147; California coastal region, $324,548; California inland, $281,672; Northwest, $257,696; and Midwest, $237,460. Regions experiencing the largest increases in average loan value were: California inland, 11.3 percent; California coastal, 10.0 percent; Southwest, 8.8 percent; Midwest, 8.4 percent; and Southeast, 8.3 percent.
Guild servicing volume reached $22.3 billion in 2015, up 34 percent from $16.6 billion in 2014. It serviced 121,926 loans in 2015, up 28 percent from 94,888 loans serviced in 2014. Its correspondent banking business grew almost three-fold in 2015 to $2.1 billion from $713.9 million, serving credit unions and community banks in 47 states, up from 40 states in 2014.
The company had 234 branch and satellite offices in 25 states as of Dec. 31, 2015, compared with 190 branch and satellite offices in 23 states in the 2014 period.
The Northwest region, including Washington and Oregon, led the company’s national growth with volume of $3.4 billion, up 91 percent from $1.8 billion in 2014. McGarry said the region achieved growth in existing branches and through the addition in late 2014 of Northwest Mortgage, based in Portland.
The company also recorded strong growth in its Southwest region (Arizona, New Mexico and Nevada), with loans totaling $1.3 billion, up 81 percent from $709.2 million in 2014. Other regions and their gains were: Southeast, $669.4 million, up 67 percent from $399.9 million; California coastal, $1.9 billion, up 56 percent from $1.3 billion; and Midwest, $792.4 million, up 51 percent from $525.3 million.
McGarry said the company continues to improve its systems and training programs to support future growth. This includes creating Guild University, providing continued education in customer service, communications, team-building and community engagement. The company continues to look at having smaller existing mortgage banking companies join Guild to take advantage of its systems, array of products and correspondent banking relationships.
Guild was ranked No. 2 in the 200 Best Mortgage Companies to Work For by Mortgage Executive Magazine for the second straight year, based on asking more than 10,000 loan officers to rate companies based on company culture, processing, underwriting, compensation, management, marketing and technology.
In October 2015, The San Diego Union-Tribune selected Guild as one of San Diego’s “Top Places to Work” for the third consecutive year. The award identifies companies that have outstanding human resource practices and an esteemed culture and business environment that are highly valued and appreciated by employees.
Guild offers a traditional range of residential mortgage products and funds most of its loans, which provides consistency and also speeds approvals. Its loan professionals can serve the needs of any homebuyer, from helping first-time homebuyers achieve their dreams of home ownership, often through government loan programs, to providing jumbo home loans through its relationship with Mutual of Omaha Bank. Guild also specializes in helping active duty and retired military personnel to secure VA loans, which provide 100 percent financing and flexible qualifying standards.
About Guild Mortgage
Guild Mortgage Co. was founded in 1960 as a home financing company for American Housing Guild in San Diego, California. Guild broadened its range of services in 1972 by including resale mortgage financing. After decades of successful innovation and growth, Guild Mortgage Co. is now a nationally recognized mortgage banking company with 234 branch and satellite offices in 25 states. It generated loan volume of $13.8 billion in 2015, up 86.1 percent from $7.4 billion in 2014. Its servicing volume reached $22.3 billion in 2015, up 34 percent from $16.6 billion in 2014. In addition, Guild has correspondent banking relationships with credit unions and community banks in 47 states. (Equal Housing Lender. Company NMLS #3274)
Source: Guild Mortgage
Released January 27, 2016