Guild Holdings Company Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2023

The following table presents the financial performance and results by segment for the three months ended September 30, 2023:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	158,812	$	(686)	$	158,126	$	—	$	158,126
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net	2,755		—		2,755		—		2,755
Loan servicing and other fees	—		61,941		61,941		—		61,941
Valuation adjustment of mortgage servicing rights	—		22,077		22,077		—		22,077
Interest income (expense)	1,388		13,208		14,596		(2,642)		11,954
Other income, net	341		49		390		14		404
Net revenue	163,296		96,589		259,885		(2,628)		257,257
Expenses
Salaries, incentive compensation and benefits	123,978		8,104		132,082		10,555		142,637
General and administrative	12,696		2,953		15,649		3,160		18,809
Occupancy, equipment and communication	15,995		1,406		17,401		1,135		18,536
Depreciation and amortization	3,435		17		3,452		212		3,664
Provision for foreclosure losses	—		84		84		—		84
Income tax expense	—		—		—		19,284		19,284
Net income (loss)	$	7,192	$	84,025	$	91,217	$	(36,974)	$	54,243

The following table presents the financial performance and results by segment for the nine months ended September 30, 2023:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	387,587	$	115	$	387,702	$	—	$	387,702
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net	5,061		—		5,061		—		5,061
Loan servicing and other fees	—		182,277		182,277		(38)		182,239
Valuation adjustment of mortgage servicing rights	—		(4,904)		(4,904)		—		(4,904)
Interest income (expense)	4,019		30,884		34,903		(7,711)		27,192
Other income, net	507		150		657		6		663
Net revenue	397,174		208,522		605,696		(7,743)		597,953
Expenses
Salaries, incentive compensation and benefits	344,259		23,173		367,432		31,228		398,660
General and administrative	42,251		8,073		50,324		9,816		60,140
Occupancy, equipment and communication	47,356		3,887		51,243		3,125		54,368
Depreciation and amortization	10,198		377		10,575		488		11,063
Provision for foreclosure losses	—		554		554		—		554
Income tax expense	—		—		—		19,184		19,184
Net (loss) income	$	(46,890)	$	172,458	$	125,568	$	(71,584)	$	53,984

The following table presents the financial performance and results by segment for the three months ended September 30, 2022:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	154,319	$	299	$	154,618	$	—	$	154,618
Loan servicing and other fees	—		57,647		57,647		—		57,647
Valuation adjustment of mortgage servicing rights	—		41,764		41,764		—		41,764
Interest income (expense)	4,388		3,392		7,780		(1,529)		6,251
Other income, net	(32)		979		947		(7)		940
Net revenue	158,675		104,081		262,756		(1,536)		261,220
Expenses
Salaries, incentive compensation and benefits	124,909		6,955		131,864		5,508		137,372
General and administrative	13,706		2,420		16,126		3,286		19,412
Occupancy, equipment and communication	15,043		1,202		16,245		1,057		17,302
Depreciation and amortization	3,498		159		3,657		238		3,895
Reversal of foreclosure losses	—		(3,449)		(3,449)		—		(3,449)
Income tax expense	—		—		—		9,321		9,321
Net income (loss)	$	1,519	$	96,794	$	98,313	$	(20,946)	$	77,367

The following table presents the financial performance and results by segment for the nine months ended September 30, 2022:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	599,285	$	5,944	$	605,229	$	—	$	605,229
Loan servicing and other fees	—		165,419		165,419		—		165,419
Valuation adjustment of mortgage servicing rights	—		247,439		247,439		—		247,439
Interest income (expense)	17,183		(1,233)		15,950		(4,700)		11,250
Other income, net	(57)		1,054		997		185		1,182
Net revenue	616,411		418,623		1,035,034		(4,515)		1,030,519
Expenses
Salaries, incentive compensation and benefits	464,368		21,722		486,090		16,803		502,893
General and administrative	3,455		7,342		10,797		9,356		20,153
Occupancy, equipment and communication	47,645		3,599		51,244		3,343		54,587
Depreciation and amortization	10,374		483		10,857		759		11,616
Reversal of foreclosure losses	—		(1,974)		(1,974)		—		(1,974)
Income tax expense	—		—		—		99,615		99,615
Net income (loss)	$	90,569	$	387,451	$	478,020	$	(134,391)	$	343,629