Guild Mortgage Announces Record Growth in Q3 2017

first_img Related Articles The Best Markets For Residential Property Investors 2 days ago Home / Featured / Guild Mortgage Announces Record Growth in Q3 2017 Guild Mortgage, mortgage lenders in the U.S., announced record overall loan volume of $11.7 billion through the nine months ended September 30, 2017, up 1.4 percent from the $11.5 billion in the same period of 2016. Purchase loans reached $9.5 billion, up 20.5 percent from $7.9 billion for the nine months of 2016, while the refinance market dropped 39.9 percent to $2.2 billion in 2017 from $3.7 billion.Third quarter comparisons reflected the shift in interest rates over the past year. Guild had its best quarter in history with $4.7 billion in total loans in the third quarter of 2016, led by $3.1 billion in purchase loans and a record $1.6 billion in refinanced loans. Purchase loans represented 65.2 percent of all loans in the 2016 quarter, with 34.7 percent in refinanced loans, the second highest level in Guild history, to 37.1 percent in the fourth quarter of 2016.In the third quarter of 2017, total loan volume was $4.4 billion, off 7 percent from the record 2016 quarter. Purchase loans hit a new quarterly high of $3.6 billon in the 2017-quarter, up 17 percent from the 2016 period, representing 81.5 percent of all loans versus 18.5 percent for refinanced loans.Mary Ann McGarry, President and CEO, said the regions and states exhibiting the fastest growth benefited from lower housing costs and better inventories, making qualifying for a loan easier than in more expensive areas.“The Southeast region led with 26.8 percent growth and had the lowest average loan size of $174,507,” said McGarry. “Compare that with our California Coastal Region, with an average loan size of $282,725, or Northwest, close behind at $279,947.McGarry continued, “We are optimistic about future growth in all areas based on continued strengths in the regional economies and more millennials reaching the age when they are in a position to consider buying a home instead of renting. To meet this need, we are always searching for new options to help potential homebuyers, such as our 1 Percent Down conventional loan program.” The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Tagged with: HOUSING mortgage Previous: Venable LLP Announces New Partner Next: Housing Market Squeezing First-Time Buyers Demand Propels Home Prices Upward 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Share Save HOUSING mortgage 2017-10-30 Nicole Caspersoncenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Nicole Casperson in Featured, Headlines Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Guild Mortgage Announces Record Growth in Q3 2017 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 30, 2017 974 Views Subscribelast_img


Leave a Reply

Your email address will not be published. Required fields are marked *

  • Recent Posts

  • Recent Comments

    • Archives

    • Categories

    • Meta

    • Tags