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

SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2024

The following table presents the financial performance and results by segment for the three months ended March 31, 2024:


(in thousands)	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	133,664	$	396	$	134,060	$	—	$	134,060
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net	3,230		—		3,230		—		3,230
Loan servicing and other fees	—		65,788		65,788		—		65,788
Valuation adjustment of mortgage servicing rights	—		20,778		20,778		—		20,778
Interest income (expense), net	664		10,456		11,120		(2,933)		8,187
Other income (expense), net	364		22		386		(647)		(261)
Net revenue	137,922		97,440		235,362		(3,580)		231,782
Expenses
Salaries, incentive compensation and benefits	121,105		8,145		129,250		10,817		140,067
General and administrative	20,548		3,862		24,410		4,801		29,211
Occupancy, equipment and communication	16,935		966		17,901		1,914		19,815
Depreciation and amortization	3,491		141		3,632		122		3,754
Provision for foreclosure losses	—		392		392		—		392
Total expenses	162,079		13,506		175,585		17,654		193,239
Income tax expense	—		—		—		10,143		10,143
Net (loss) income	$	(24,157)	$	83,934	$	59,777	$	(31,377)	$	28,400

The following table presents the financial performance and results by segment for the three months ended March 31, 2023:


(in thousands)	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	92,276	$	375	$	92,651	$	—	$	92,651
Loan servicing and other fees	—		60,087		60,087		—		60,087
Valuation adjustment of mortgage servicing rights	—		(54,871)		(54,871)		—		(54,871)
Interest income (expense), net	1,300		7,410		8,710		(2,727)		5,983
Other (expense) income, net	(2)		52		50		(15)		35
Net revenue	93,574		13,053		106,627		(2,742)		103,885
Expenses
Salaries, incentive compensation and benefits	93,257		7,574		100,831		10,289		111,120
General and administrative	14,494		2,880		17,374		3,509		20,883
Occupancy, equipment and communication	15,174		1,258		16,432		998		17,430
Depreciation and amortization	3,399		142		3,541		197		3,738
Provision for foreclosure losses	—		1,514		1,514		—		1,514
Total expenses	126,324		13,368		139,692		14,993		154,685
Income tax benefit	—		—		—		(13,605)		(13,605)
Net loss	$	(32,750)	$	(315)	$	(33,065)	$	(4,130)	$	(37,195)