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

Segments (Tables)

6 Months Ended

Jun. 30, 2022

The following table presents the financial performance and results by segment for the three months ended June 30, 2022:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	206,445	$	1,527	$	207,972	$	—	$	207,972
Loan servicing and other fees	—		54,595		54,595		—		54,595
Valuation adjustment of mortgage servicing rights	—		21,074		21,074		—		21,074
Interest income (expense)	5,678		(358)		5,320		(1,446)		3,874
Other income, net	(25)		56		31		(9)		22
Net revenue	212,098		76,894		288,992		(1,455)		287,537
Expenses
Salaries, incentive compensation and benefits	165,133		7,509		172,642		5,550		178,192
General and administrative	1,460		2,254		3,714		2,657		6,371
Occupancy, equipment and communication	16,495		1,293		17,788		1,185		18,973
Depreciation and amortization	3,395		162		3,557		251		3,808
Provision for foreclosure losses	—		1,796		1,796		—		1,796
Income tax expense	—		—		—		20,108		20,108
Net income (loss)	$	25,615	$	63,880	$	89,495	$	(31,206)	$	58,289

The following table presents the financial performance and results by segment for the six months ended June 30, 2022:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	444,966	$	5,645	$	450,611	$	—	$	450,611
Loan servicing and other fees	—		107,772		107,772		—		107,772
Valuation adjustment of mortgage servicing rights	—		205,675		205,675		—		205,675
Interest income (expense)	12,795		(4,625)		8,170		(3,171)		4,999
Other income, net	(25)		75		50		192		242
Net revenue	457,736		314,542		772,278		(2,979)		769,299
Expenses
Salaries, incentive compensation and benefits	339,459		14,767		354,226		11,295		365,521
General and administrative	(10,251)		4,922		(5,329)		6,070		741
Occupancy, equipment and communication	32,602		2,397		34,999		2,286		37,285
Depreciation and amortization	6,876		324		7,200		521		7,721
Provision for foreclosure losses	—		1,475		1,475		—		1,475
Income tax expense	—		—		—		90,294		90,294
Net income (loss)	$	89,050	$	290,657	$	379,707	$	(113,445)	$	266,262

The following table presents the financial performance and results by segment for the three months ended June 30, 2021:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	329,157	$	1,602	$	330,759	$	—	$	330,759
Loan servicing and other fees	—		47,652		47,652		—		47,652
Valuation adjustment of mortgage servicing rights	—		(84,789)		(84,789)		—		(84,789)
Interest income (expense)	3,655		(1,637)		2,018		(1,592)		426
Other income, net	32		18		50		11		61
Net revenue	332,844		(37,154)		295,690		(1,581)		294,109
Expenses
Salaries, incentive compensation and benefits	215,061		7,075		222,136		10,427		232,563
General and administrative	25,156		3,815		28,971		2,823		31,794
Occupancy, equipment and communication	12,758		1,026		13,784		878		14,662
Depreciation and amortization	1,096		222		1,318		290		1,608
Provision for foreclosure losses	—		(442)		(442)		—		(442)
Income tax benefit	—		—		—		4,986		4,986
Net income (loss)	$	78,773	$	(48,850)	$	29,923	$	(20,985)	$	8,938

The following table presents the financial performance and results by segment for the six months ended June 30, 2021:


	Origination		Servicing		Total Segments		All Other		Total
Revenue
Loan origination fees and gain on sale of loans, net	$	773,954	$	3,393	$	777,347	$	—	$	777,347
Loan servicing and other fees	—		92,851		92,851		—		92,851
Valuation adjustment of mortgage servicing rights	—		(49,046)		(49,046)		—		(49,046)
Interest income (expense)	6,501		(4,498)		2,003		(2,989)		(986)
Other income, net	32		40		72		58		130
Net revenue	780,487		42,740		823,227		(2,931)		820,296
Expenses
Salaries, incentive compensation and benefits	465,876		14,288		480,164		19,123		499,287
General and administrative	47,794		5,671		53,465		5,236		58,701
Occupancy, equipment and communication	25,931		2,134		28,065		1,429		29,494
Depreciation and amortization	1,989		412		2,401		861		3,262
Provision for foreclosure losses	—		2,019		2,019		—		2,019
Income tax benefit	—		—		—		57,991		57,991
Net income (loss)	$	238,897	$	18,216	$	257,113	$	(87,571)	$	169,542