California-based lender Guild Mortgage posted a higher profit in 2022 thanks to its increased purchase mortgage market share — and now has its eyes set on acquiring other lenders.
Guild, the purchase-focused lender with a distributed retail model, posted a net income of $328 million in 2022 despite posting a loss of $15 million in the fourth quarter of the year. Net income also rose 16% from the previous year’s $283.8 million.
“Part of our resilience is our concentration on purchase mortgages, including targeting the first-time buyer and diverse market,” Mary Ann McGarry, chief executive officer, told analysts in its fourth quarter details ⇒
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