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

Quarterly report pursuant to Section 13 or 15(d)

MORTGAGE LOANS HELD FOR SALE

MORTGAGE LOANS HELD FOR SALE

9 Months Ended

Sep. 30, 2022

Mortgage Loans Held For Sale [Abstract]

The Company sells substantially all of its originated mortgage loans into the secondary market. The Company may retain the right to service some of these loans upon sale through ownership of servicing rights. A reconciliation of the changes in mortgage loans held for sale to the amounts presented in the Condensed Consolidated Statements of Cash Flows is set forth below:


	Nine Months Ended September 30,
	2022		2021
Balance at the beginning of period	$	2,204,216	$	2,368,777
Origination of mortgage loans held for sale	16,265,741		28,192,471
Proceeds on sale of and payments from mortgage loans held for sale	(17,916,073)		(29,847,321)
Mortgage loans acquired (see Note 3)	—		465,020
Gain on sale of mortgage loans excluding fair value of other financial instruments, net	440,974		1,019,439
Valuation adjustment of mortgage loans held for sale	(65,297)		(59,040)
Balance at the end of period	$	929,561	$	2,139,346

At September 30, 2022, mortgage loans held for sale included UPB of the underlying loans of $1.0 billion and had a fair value of $0.9 billion. At December 31, 2021, mortgage loans held for sale included UPB of the underlying loans of $2.2 billion and had a fair value of $2.2 billion.