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

SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2025

The following table presents the financial performance and results by segment for the three months ended September 30, 2025:


(in thousands)	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	242,020	$	1,830	$	243,850	$	—	$	243,850
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net	4,018		—		4,018		—		4,018
Loan servicing and other fees	—		73,931		73,931		—		73,931
Valuation adjustment of mortgage servicing rights	—		(29,009)		(29,009)		—		(29,009)
Interest income	28,363		14,987		43,350		—		43,350
Interest expense	(21,029)		(1,463)		(22,492)		(6,723)		(29,215)
Other income (expense), net	513		—		513		(1)		512
Net revenue	253,885		60,276		314,161		(6,724)		307,437
Expenses
Salaries, incentive compensation and benefits	179,185		10,516		189,701		18,200		207,901
General and administrative	20,139		2,695		22,834		6,505		29,339
Occupancy, equipment and communication	16,476		1,142		17,618		1,924		19,542
Depreciation and amortization	3,103		299		3,402		126		3,528
Provision for foreclosure losses	—		1,148		1,148		—		1,148
Total expenses	218,903		15,800		234,703		26,755		261,458
Income tax expense	—		—		—		12,636		12,636
Net income (loss)	$	34,982	$	44,476	$	79,458	$	(46,115)	$	33,343

The following table presents the financial performance and results by segment for the nine months ended September 30, 2025:


(in thousands)	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	661,313	$	3,751	$	665,064	$	—	$	665,064
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net	9,524		—		9,524		—		9,524
Loan servicing and other fees	—		219,427		219,427		—		219,427
Valuation adjustment of mortgage servicing rights	—		(140,258)		(140,258)		—		(140,258)
Interest income	72,965		37,543		110,508		650		111,158
Interest expense	(57,539)		(3,877)		(61,416)		(18,841)		(80,257)
Other income (expense), net	767		2		769		(59)		710
Net revenue	687,030		116,588		803,618		(18,250)		785,368
Expenses
Salaries, incentive compensation and benefits	507,588		30,992		538,580		45,371		583,951
General and administrative	62,441		9,643		72,084		17,834		89,918
Occupancy, equipment and communication	51,670		3,417		55,087		6,088		61,175
Depreciation and amortization	9,815		639		10,454		332		10,786
Provision for foreclosure losses	—		4,641		4,641		—		4,641
Total expenses	631,514		49,332		680,846		69,625		750,471
Income tax expense	—		—		—		6,850		6,850
Net income (loss)	$	55,516	$	67,256	$	122,772	$	(94,725)	$	28,047

The following table presents the financial performance and results by segment for the three months ended September 30, 2024:


(in thousands)	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	220,365	$	246	$	220,611	$	—	$	220,611
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net	2,367		—		2,367		—		2,367
Loan servicing and other fees	—		70,951		70,951		—		70,951
Valuation adjustment of mortgage servicing rights	—		(145,776)		(145,776)		—		(145,776)
Interest income	27,438		15,799		43,237		571		43,808
Interest expense	(26,730)		(1,113)		(27,843)		(5,496)		(33,339)
Other income (expense), net	657		70		727		(92)		635
Net revenue	224,097		(59,823)		164,274		(5,017)		159,257
Expenses
Salaries, incentive compensation and benefits	175,922		9,219		185,141		13,864		199,005
General and administrative	19,742		3,788		23,530		3,188		26,718
Occupancy, equipment and communication	18,708		1,004		19,712		2,289		22,001
Depreciation and amortization	3,290		161		3,451		302		3,753
Provision for foreclosure losses	—		613		613		—		613
Total expenses	217,662		14,785		232,447		19,643		252,090
Income tax benefit	—		—		—		(25,882)		(25,882)
Net income (loss)	$	6,435	$	(74,608)	$	(68,173)	$	1,222	$	(66,951)

The following table presents the financial performance and results by segment for the nine months ended September 30, 2024:


(in thousands)	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	560,247	$	272	$	560,519	$	—	$	560,519
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net	7,731		—		7,731		—		7,731
Loan servicing and other fees	—		204,448		204,448		—		204,448
Valuation adjustment of mortgage servicing rights	—		(122,864)		(122,864)		—		(122,864)
Interest income	63,486		39,820		103,306		1,449		104,755
Interest expense	(62,233)		(2,768)		(65,001)		(13,526)		(78,527)
Other income (expense), net	1,556		137		1,693		(1,031)		662
Net revenue	570,787		119,045		689,832		(13,108)		676,724
Expenses
Salaries, incentive compensation and benefits	466,064		25,882		491,946		36,064		528,010
General and administrative	62,088		10,505		72,593		11,734		84,327
Occupancy, equipment and communication	53,519		2,705		56,224		5,940		62,164
Depreciation and amortization	9,943		572		10,515		962		11,477
Provision for foreclosure losses	—		509		509		—		509
Total expenses	591,614		40,173		631,787		54,700		686,487
Income tax benefit	—		—		—		(8,803)		(8,803)
Net (loss) income	$	(20,827)	$	78,872	$	58,045	$	(59,005)	$	(960)