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

Segments (Tables)

3 Months Ended

Mar. 31, 2022

The following table presents the financial performance and results by segment for the three months ended March 31, 2022:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	238,521	$	4,118	$	242,639	$	—	$	242,639
Loan servicing and other fees	—		53,177		53,177		—		53,177
Valuation adjustment of mortgage servicing rights	—		184,601		184,601		—		184,601
Interest income (expense)	7,117		(4,267)		2,850		(1,725)		1,125
Other income, net	—		19		19		201		220
Net revenue	245,638		237,648		483,286		(1,524)		481,762
Expenses
Salaries, incentive compensation and benefits	174,326		7,258		181,584		5,745		187,329
General and administrative	(11,711)		2,668		(9,043)		3,413		(5,630)
Occupancy, equipment and communication	16,107		1,104		17,211		1,101		18,312
Depreciation and amortization	3,481		162		3,643		270		3,913
(Relief) of foreclosure losses	—		(321)		(321)		—		(321)
Income tax expense	—		—		—		70,186		70,186
Net income (loss)	$	63,435	$	226,777	$	290,212	$	(82,239)	$	207,973

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 benefit	—		—		—		53,005		53,005
Net income (loss)	$	160,124	$	67,066	$	227,190	$	(66,586)	$	160,604