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

Segments (Tables)

3 Months Ended

Mar. 31, 2021

The following table presents the financial performance and results by segment for the three months ended March 31, 2021:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	444,797	$	1,792	$	446,589	$	—	$	446,589
Loan servicing and other fees	—		45,199		45,199		—		45,199
Valuation adjustment of mortgage servicing rights	—		35,743		35,743		—		35,743
Interest income (expense)	2,846		(2,861)		(15)		(1,398)		(1,413)
Other income, net	—		22		22		47		69
Net revenue	447,643		79,895		527,538		(1,351)		526,187
Expenses
Salaries, incentive compensation and benefits	250,815		7,213		258,028		8,696		266,724
General and administrative	22,638		1,856		24,494		2,412		26,906
Occupancy, equipment and communication	13,173		1,108		14,281		551		14,832
Depreciation and amortization	893		190		1,083		571		1,654
Provision for foreclosure losses	—		2,462		2,462		—		2,462
Income tax expense	—		—		—		53,005		53,005
Net income (loss)	$	160,124	$	67,066	$	227,190	$	(66,586)	$	160,604

The following table presents the financial performance and results by segment for the three months ended March 31, 2020:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	238,802	$	1,059	$	239,861	$	—	$	239,861
Loan servicing and other fees	—		38,532		38,532		—		38,532
Valuation adjustment of mortgage servicing rights	—		(108,649)		(108,649)		—		(108,649)
Interest income (expense)	2,220		37		2,257		(2,190)		67
Other income, net	5		1		6		383		389
Net revenue	241,027		(69,020)		172,007		(1,807)		170,200
Expenses
Salaries, incentive compensation and benefits	140,006		5,686		145,692		2,321		148,013
General and administrative	19,524		1,756		21,280		945		22,225
Occupancy, equipment and communication	11,379		803		12,182		1,136		13,318
Depreciation and amortization	1,285		156		1,441		446		1,887
Provision for foreclosure losses	—		1,924		1,924		—		1,924
Income tax benefit	—		—		—		(4,181)		(4,181)
Net income (loss)	$	68,833	$	(79,345)	$	(10,512)	$	(2,474)	$	(12,986)