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 ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com