General World News

Guild still eyeing acquisitions as profits falter in Q2 2022

Guild Mortgage’s second-quarter earnings suggest that a high share of purchase loans won’t necessarily be enough to protect lenders from the most challenging and volatile mortgage market in years. They’ll have to cut costs and grab opportunities as they emerge.

The nonbank lender reported a $58.3 million net income from April to June, a 72% decrease from $208 million in the first quarter. Virtually all mortgage lenders have posted significant decreases in profits in the second quarter from last quarter, owing to a sharp increase in mortgage rates and details ⇒

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