Guild Holdings Company reported significant financial improvements for the fiscal year ending December 31, 2024, with total revenues reaching $1.05 billion, a 60.2% increase from $655.2 million in 2023. The company achieved a net income of $97.1 million, compared to a net loss of $39.0 million in the previous year, resulting in diluted earnings per share of $1.56, up from a loss of $0.64. This turnaround was driven by a substantial increase in loan origination fees and gains on the sale of loans, which totaled $763.8 million, a 52.4% rise from $501.3 million in 2023.
Guild's origination volume surged to $24.0 billion in 2024, a 57.4% increase from $15.3 billion in 2023, with purchase originations accounting for 88.1% of total originations. The servicing portfolio also expanded, with an unpaid principal balance of $93.0 billion, up from $85.0 billion the previous year. The company’s overall recapture rate improved to 35%, reflecting its strategy to retain clients through refinancing and new purchases. Guild's employee headcount increased to approximately 5,270, supporting its growth initiatives.
Strategically, Guild has pursued an aggressive acquisition strategy, completing several transactions to enhance its market presence. In 2024, the company acquired the assets of Academy Mortgage Corporation for $27 million, further expanding its footprint in the mortgage market. This follows previous acquisitions in 2023, including Cherry Creek Mortgage and Legacy Mortgage, which collectively contributed to Guild's growth in new local communities. The company plans to continue this strategy, leveraging its technology and operational efficiencies to integrate new businesses effectively.
The filing also highlighted operational challenges, including increased competition and fluctuating interest rates, which have impacted gain on sale margins. Guild's management noted that while the mortgage market remains competitive, the company is well-positioned to capitalize on future opportunities, particularly as the Federal Reserve adjusts interest rates. The outlook for 2025 anticipates continued growth in mortgage originations, with the Mortgage Bankers Association projecting a 10% increase in purchase originations.
Overall, Guild Holdings Company demonstrated a strong recovery in 2024, marked by significant revenue growth, strategic acquisitions, and an expanding servicing portfolio, positioning the company favorably for future market conditions.
About Guild Holdings Co
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