Independent mortgage lender achieved record loan volume of $7.3 billion nationally, up 7.1 percent from $6.8 billion in 2016; Southeast grows to $604.5 million, up 34 percent
COLUMBIA, S.C. – Guild Mortgage, one of the largest independent mortgage lenders in the U.S., continued its record growth during the first six months of 2017, with the Southeast region leading the way.
Nationally, Guild’s purchase loan volume increased almost 50 percent from the first quarter to the second quarter of 2017, resulting in record overall loan volume of $7.3 billion for the first half of the year, up 7.1 percent from $6.8 billion in the same period of 2016.
The Southeast region, which includes Florida, South Carolina, North Carolina, Georgia, Alabama, Mississippi and Tennessee, generated total loan volume of $604.5 million, up 34 percent from $451.2 million through the first half of 2016. Five of the seven states in the region grew more than 30 percent from the 2016 period.
The number of loans reached 3,457 in the region for the first half of 2017, up 30.6 percent from 2,648 in the same period of 2016. The average loan size in the region was $174,873 in the 2017 period, up 2.6 percent from $170,400 in 2016.
“Guild has continued to grow in the Southeast because we have been able to recruit a great team of individuals to serve the wide array of borrowing needs in the different states,” said
Matt MacGillivray, Regional Vice President. “Within Guild’s mission and customer service culture, we are committed to finding the best loan for each borrower, while striving to close loans on time, every time. We feel this will continue to differentiate Guild as more big-name industries expand in the region, creating new jobs and housing needs, especially for first-time homebuyers.”
The top branches in the Southeast region for the first half of 2017 included Columbia, S.C. at $266.8 million; Concourse, Ga. at $167.4 million; Montgomery, Ala. $79.4 million; and Greenville, S.C. $45.9 million.
After the Southeast region, fastest-growing Guild regions were: Texas, with loan volume of $501.8 million, up 25.2 percent; Colorado, $507.2 million, up 17.4 percent; and Southwest (Arizona, New Mexico and Nevada), up 16.1 percent to $918.3 million.
Mary Ann McGarry, president and CEO, said she anticipates continued growth across the country, particularly in the Southeast.
“As an entrepreneurial company, we are always searching for new ways to help first-time homebuyers achieve their goals,” she said. “Over the past year, we’ve seen more homebuyers turn to independent mortgage lenders like Guild because of our expertise and broad range of product offerings. The Southeast region has been one of our fastest-growing regions for quite some time. Our success is due to the hard work from Matt and his team in establishing a culture of customer service in the area.”
Company-wide, purchase loans reached $3.5 billion in the second quarter of 2017, a Guild record. The previous record was $3.1 billion in the third quarter of 2015. The total purchase loan volume for the first half of 2017 was $5.9 billion, up 23.1 percent from $4.8 billion in the same period of 2016. Purchase loans were 81 percent of all Guild loans in the first half of 2017, versus 70.5 percent in 2016. Guild created 32,029 new loans during the first half of 2017, up 5.9 percent from 30,254 in the 2016 period.
Guild continued to grow its servicing business, with $34.1 billion and 172,615 loans serviced as of June 30, 2017, up 33 percent from $25.6 billion and 136,119 loans from the first six months of 2016. The company’s portfolio is divided among conventional loans, 57.9 percent; FHA, 31.4 percent; and VA, 10.7 percent.
Guild offers first-time homebuyers a wide range of loan options and personalized service. The company is consistently among the top independent mortgage lenders in the U.S. in terms of purchase loans. Its loan professionals can serve the needs of any homebuyer, from helping first-time homebuyers achieve home ownership, often through government loan programs, to jumbo home loans. Guild also specializes in helping active duty and retired military personnel to secure VA loans, with 100-percent financing and flexible qualifying standards.
About Guild Mortgage
Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Co. is a nationally recognized independent mortgage lender offering a wide range of residential mortgage products and local in-house processing, underwriting and funding. Its collegial and entrepreneurial culture enables it to deliver unsurpassed levels of customer service. Having been through every economic cycle, the company has grown 16-fold since 2008, and now has more than 3,800 employees operating from 250 branch and satellite offices in 25 states. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, low down payment assistance programs and other specialized loan programs. The company generated $15.9 billion in loan volume in 2016, as compared to $1 billion in 2008. In addition, Guild services more than 155,000 loans, which totaled $30 billion in 2016, and has correspondent banking relationships with credit unions and community banks in 47 states. (Equal Housing Lender- Company NMLS #3274).