Guild Holdings Company Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

FAIR VALUE MEASUREMENTS (Tables)

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2025:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mortgage loans held for sale	$	—	$	1,821,187	$	—	$	1,821,187
Reverse mortgage loans held for investment	—		—		516,899		516,899
Mortgage servicing rights	—		—		1,303,599		1,303,599
Derivative assets
Interest rate lock commitments	—		—		29,099		29,099
Forward delivery commitments	—		70		—		70
Notes receivable	—		—		12,514		12,514
Total assets at fair value	$	—	$	1,821,257	$	1,862,111	$	3,683,368
Liabilities:
HMBS-related borrowings	$	—	$	—	$	494,156	$	494,156
Derivative liabilities
Forward delivery commitments and best efforts sales commitments	—		12,721		—		12,721

Contingent liabilities due to acquisitions	—		—		30,840		30,840
Total liabilities at fair value	$	—	$	12,721	$	524,996	$	537,717

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2024:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mortgage loans held for sale	$	—	$	1,523,447	$	—	$	1,523,447
Reverse mortgage loans held for investment	—		—		451,704		451,704
Mortgage servicing rights	—		—		1,343,829		1,343,829
Derivative assets
Interest rate lock commitments	—		—		7,964		7,964
Forward delivery commitments	—		9,074		—		9,074
Notes receivable	—		—		11,894		11,894
Total assets at fair value	$	—	$	1,532,521	$	1,815,391	$	3,347,912
Liabilities:
HMBS-related borrowings	$	—	$	—	$	425,979	$	425,979
Derivative liabilities
Forward delivery commitments and best efforts sales commitments	—		2,487		—		2,487

Contingent liabilities due to acquisitions	—		—		27,983		27,983
Total liabilities at fair value	$	—	$	2,487	$	453,962	$	456,449

Summary of Reconciliation of Level 3 Assets Measured at Fair Value on Recurring Basis

The table below presents a reconciliation of certain Level Three assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2025:


(in thousands)	Interest Rate Lock Commitments		Notes Receivable		Contingent Liabilities





Balance at March 31, 2025	$	23,092	$	12,077	$	29,733
Net transfers and revaluation losses	6,007		—		—
Payments	—		—		(155)
Additions	—		1,237		—
Valuation adjustments	—		(800)		1,262
Balance at June 30, 2025	$	29,099	$	12,514	$	30,840






Balance at December 31, 2024	$	7,964	$	11,894	$	27,983
Net transfers and revaluation losses	21,135		—		—
Payments	—		—		(406)
Additions	—		1,420		—
Valuation adjustments	—		(800)		3,263
Balance at June 30, 2025	$	29,099	$	12,514	$	30,840

The table below presents a reconciliation of certain Level Three assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2024:


(in thousands)	Interest Rate Lock Commitments		Notes Receivable		Contingent Liabilities





Balance at March 31, 2024	$	23,588	$	11,006	$	20,101
Net transfers and revaluation losses	(5,416)		—		—

Additions	—		159		—
Valuation adjustments	—		211		6,474
Balance at June 30, 2024	$	18,172	$	11,376	$	26,575






Balance at December 31, 2023	$	14,902	$	10,627	$	8,720
Net transfers and revaluation losses	3,270		—		—

Additions	—		308		10,017
Valuation adjustments	—		441		7,838
Balance at June 30, 2024	$	18,172	$	11,376	$	26,575

Summary of Reconciliation of Level 3 Liabilities Measured at Fair Value on Recurring Basis

The table below presents a reconciliation of certain Level Three assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2025:


(in thousands)	Interest Rate Lock Commitments		Notes Receivable		Contingent Liabilities





Balance at March 31, 2025	$	23,092	$	12,077	$	29,733
Net transfers and revaluation losses	6,007		—		—
Payments	—		—		(155)
Additions	—		1,237		—
Valuation adjustments	—		(800)		1,262
Balance at June 30, 2025	$	29,099	$	12,514	$	30,840






Balance at December 31, 2024	$	7,964	$	11,894	$	27,983
Net transfers and revaluation losses	21,135		—		—
Payments	—		—		(406)
Additions	—		1,420		—
Valuation adjustments	—		(800)		3,263
Balance at June 30, 2025	$	29,099	$	12,514	$	30,840

The table below presents a reconciliation of certain Level Three assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2024:


(in thousands)	Interest Rate Lock Commitments		Notes Receivable		Contingent Liabilities





Balance at March 31, 2024	$	23,588	$	11,006	$	20,101
Net transfers and revaluation losses	(5,416)		—		—

Additions	—		159		—
Valuation adjustments	—		211		6,474
Balance at June 30, 2024	$	18,172	$	11,376	$	26,575






Balance at December 31, 2023	$	14,902	$	10,627	$	8,720
Net transfers and revaluation losses	3,270		—		—

Additions	—		308		10,017
Valuation adjustments	—		441		7,838
Balance at June 30, 2024	$	18,172	$	11,376	$	26,575

Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a non-recurring basis at June 30, 2025:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Ginnie Mae loans subject to repurchase right	$	—	$	753,707	$	—	$	753,707
Total assets at fair value	$	—	$	753,707	$	—	$	753,707
Liabilities:
Ginnie Mae loans subject to repurchase right	$	—	$	763,922	$	—	$	763,922
Total liabilities at fair value	$	—	$	763,922	$	—	$	763,922

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a non-recurring basis at December 31, 2024:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Ginnie Mae loans subject to repurchase right	$	—	$	807,283	$	—	$	807,283
Total assets at fair value	$	—	$	807,283	$	—	$	807,283
Liabilities:
Ginnie Mae loans subject to repurchase right	$	—	$	817,271	$	—	$	817,271
Total liabilities at fair value	$	—	$	817,271	$	—	$	817,271

Summary of Fair Value Option for Mortgage Loans Held for Sale

The following is the estimated fair value and UPB of assets and liabilities that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option was elected as the Company believes fair value best reflects their expected future economic performance and to align with the Company’s business and risk management strategies.


(in thousands)	Fair Value		Unpaid Principal Balance		Difference
June 30, 2025
Assets:
Mortgage loans held for sale(1)	$	1,821,187	$	1,804,188	$	16,999
Reverse mortgage loans held for investment(2)	516,899		481,103		35,796
Notes receivable	12,514		13,657		(1,143)
Liabilities:
HMBS-related borrowings	$	494,156	$	484,804	$	9,352

_____________________________

(1)MLHS that were 90 days or more past due had a fair value of $11.3 million and UPB of $14.1 million.

(2)Reverse mortgage loans held for investment that were 90 days or more past due had a fair value of $6.5 million and UPB of $6.2 million.


(in thousands)	Fair Value		Unpaid Principal Balance		Difference
December 31, 2024
Assets:
Mortgage loans held for sale(1)	$	1,523,447	$	1,529,592	$	(6,145)
Reverse mortgage loans held for investment(2)	451,704		420,807		30,897
Notes receivable	11,894		12,237		(343)
Liabilities:
HMBS-related borrowings	$	425,979	$	416,748	$	9,231

_____________________________

(1)MLHS that were 90 days or more past due had a fair value of $5.7 million and UPB of $7.3 million.

(2)Reverse mortgage loans held for investment that were 90 days or more past due had a fair value of $6.4 million and UPB of $6.1 million.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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