Guild (GHLD) 10-Q 4 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 02, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-39645
Entity Registrant Name	GUILD HOLDINGS COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2453154
Entity Address, Address Line One	5887 Copley Drive
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92111
City Area Code	858
Local Phone Number	560-6330
Title of 12(b) Security	Class A common stock, $0.01 par value per share
Trading Symbol	GHLD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001821160
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		20,625,581
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		40,333,019

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 105,963	$ 137,891
Restricted cash	5,868	8,863
Mortgage loans held for sale	1,125,992	845,775
Reverse mortgage loans held for investment	36,709	0
Ginnie Mae loans subject to repurchase right	598,634	650,179
Accounts, notes and interest receivable	65,035	58,304
Derivative assets	13,702	3,120
Mortgage servicing rights, net	1,184,503	1,139,539
Intangible assets, net	29,100	33,075
Goodwill	184,894	176,769
Other assets	182,239	186,076
Total assets	3,532,639	3,239,591
Liabilities and stockholders’ equity
Warehouse lines of credit	1,053,060	713,151
Ginnie Mae loans subject to repurchase right	598,879	650,179
Accounts payable and accrued expenses	33,629	34,095
Accrued compensation and benefits	34,251	29,597
Investor reserves	18,364	16,094
Contingent liabilities due to acquisitions	7,793	526
Derivative liabilities	0	5,173
Operating lease liabilities	83,759	85,977
Deferred compensation plan	94,873	95,769
Deferred tax liabilities	232,816	232,963
Total liabilities	2,281,174	1,990,304
Commitments and contingencies (Note 16)
Stockholders’ equity
Preferred stock, $0.01 par value; 50,000,000 shares authorized; no shares issued and outstanding	0	0
Additional paid-in capital	45,141	42,727
Retained earnings	1,205,654	1,205,885
Non-controlling interest	61	66
Total stockholders’ equity	1,251,465	1,249,287
Total liabilities and stockholders’ equity	3,532,639	3,239,591
Nonrelated Party
Liabilities and stockholders’ equity
Notes payable	123,750	126,250
Related Party
Liabilities and stockholders’ equity
Notes payable	0	530
Class A Common Stock
Stockholders’ equity
Common stock	206	206
Class B Common Stock
Stockholders’ equity
Common stock	$ 403	$ 403

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares, issued (in shares)	0	0
Preferred stock, shares, outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares, issued (in shares)	20,645,142	20,583,130
Common stock, shares, outstanding (in shares)	20,645,142	20,583,130
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares, issued (in shares)	40,333,019	40,333,019
Common stock, shares, outstanding (in shares)	40,333,019	40,333,019

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Loan origination fees and gain on sale of loans, net	$ 136,925	$ 207,972	$ 229,576	$ 450,611
Gain on reverse mortgage loans held for investment	2,306	0	2,306	0
Loan servicing and other fees	60,211	54,595	120,298	107,772
Valuation adjustment of mortgage servicing rights	27,890	21,074	(26,981)	205,675
Interest income	26,584	14,823	44,829	30,086
Interest expense	(17,329)	(10,949)	(29,591)	(25,087)
Other income, net	224	22	259	242
Net revenue	236,811	287,537	340,696	769,299
Expenses
Salaries, incentive compensation and benefits	144,903	178,192	256,023	365,521
General and administrative	20,448	6,371	41,331	741
Occupancy, equipment and communication	18,402	18,973	35,832	37,285
Depreciation and amortization	3,661	3,808	7,399	7,721
(Reversal of) provision for foreclosure losses	(1,044)	1,796	470	1,475
Total expenses	186,370	209,140	341,055	412,743
Income (loss) before income tax expense (benefit)	50,441	78,397	(359)	356,556
Income tax expense (benefit)	13,505	20,108	(100)	90,294
Net income (loss)	36,936	58,289	(259)	266,262
Net income (loss) attributable to non-controlling interest	0	17	(5)	32
Net income (loss) attributable to Guild	$ 36,936	$ 58,272	$ (254)	$ 266,230
Net income (loss) per share attributable to Class A and Class B Common Stock:
Basic (in dollars per share)	$ 0.61	$ 0.95	$ 0	$ 4.36
Diluted (in dollars per share)	$ 0.60	$ 0.95	$ 0	$ 4.31
Weighted average shares outstanding of Class A and Class B Common Stock:
Basic (in shares)	60,962	61,064	60,931	61,060
Diluted (in shares)	61,801	61,650	60,931	61,779

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common​ Stock Class A Common Stock	Common​ Stock Class B Common Stock	Additional Paid-In Capital	Retained Earnings	Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2021				20,723,912	40,333,019
Beginning balance at Dec. 31, 2021	$ 920,013			$ 207	$ 403	$ 42,175	$ 877,194	$ 34
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,272					1,272
Dividend equivalents on unvested restricted stock units forfeited	0					(40)	40
Net income (loss)	207,973						207,958	15
Ending balance (in shares) at Mar. 31, 2022				20,723,912	40,333,019
Ending balance at Mar. 31, 2022	1,129,258			$ 207	$ 403	43,407	1,085,192	49
Beginning balance (in shares) at Dec. 31, 2021				20,723,912	40,333,019
Beginning balance at Dec. 31, 2021	920,013			$ 207	$ 403	42,175	877,194	34
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	266,262
Ending balance (in shares) at Jun. 30, 2022				20,616,015	40,333,019
Ending balance at Jun. 30, 2022	1,187,830			$ 206	$ 403	43,666	1,143,489	66
Beginning balance (in shares) at Mar. 31, 2022				20,723,912	40,333,019
Beginning balance at Mar. 31, 2022	1,129,258			$ 207	$ 403	43,407	1,085,192	49
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,728					1,728
Dividend equivalents on unvested restricted stock units forfeited	0					(25)	25
Vesting of restricted stock units (in shares)				34,055
Repurchase and retirement of Class A common stock (in shares)				(141,952)
Repurchase and retirement of Class A common stock	(1,445)			$ (1)		(1,444)
Net income (loss)	58,289						58,272	17
Ending balance (in shares) at Jun. 30, 2022				20,616,015	40,333,019
Ending balance at Jun. 30, 2022	1,187,830			$ 206	$ 403	43,666	1,143,489	66
Beginning balance (in shares) at Dec. 31, 2022		20,583,130	40,333,019	20,583,130	40,333,019
Beginning balance at Dec. 31, 2022	1,249,287			$ 206	$ 403	42,727	1,205,885	66
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,756					1,756
Vesting of restricted stock units (in shares)				333
Shares of Class A common stock withheld related to net share settlement (in shares)				(137)
Shares of Class A common stock withheld related to net share settlement	(1)					(1)
Repurchase and retirement of Class A common stock (in shares)				(50,166)
Repurchase and retirement of Class A common stock	(568)			$ (1)		(567)
Net income (loss)	(37,195)						(37,190)	(5)
Ending balance (in shares) at Mar. 31, 2023				20,533,160	40,333,019
Ending balance at Mar. 31, 2023	1,213,279			$ 205	$ 403	43,915	1,168,695	61
Beginning balance (in shares) at Dec. 31, 2022		20,583,130	40,333,019	20,583,130	40,333,019
Beginning balance at Dec. 31, 2022	1,249,287			$ 206	$ 403	42,727	1,205,885	66
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase and retirement of Class A common stock (in shares)				(101,754)
Net income (loss)	(259)
Ending balance (in shares) at Jun. 30, 2023		20,645,142	40,333,019	20,645,142	40,333,019
Ending balance at Jun. 30, 2023	1,251,465			$ 206	$ 403	45,141	1,205,654	61
Beginning balance (in shares) at Mar. 31, 2023				20,533,160	40,333,019
Beginning balance at Mar. 31, 2023	1,213,279			$ 205	$ 403	43,915	1,168,695	61
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,323					2,323
Dividend equivalents on unvested restricted stock units forfeited	0					(23)	23
Vesting of restricted stock units (in shares)				211,733
Vesting of restricted stock units	0			$ 2		(2)
Shares of Class A common stock withheld related to net share settlement (in shares)				(48,163)
Shares of Class A common stock withheld related to net share settlement	(523)					(523)
Repurchase and retirement of Class A common stock (in shares)				(51,588)
Repurchase and retirement of Class A common stock	(550)			$ (1)		(549)
Net income (loss)	36,936						36,936
Ending balance (in shares) at Jun. 30, 2023		20,645,142	40,333,019	20,645,142	40,333,019
Ending balance at Jun. 30, 2023	$ 1,251,465			$ 206	$ 403	$ 45,141	$ 1,205,654	$ 61

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income (loss)	$ (259)	$ 266,262
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	7,399	7,721
Valuation adjustment of mortgage servicing rights	26,981	(205,675)
Valuation adjustment of mortgage loans held for sale	6,106	33,648
Valuation adjustment of reverse mortgage loans held for investment	(2,306)	0
Unrealized (gain) loss on derivatives	(15,755)	6,924
Amortization of right-of-use assets	10,888	8,531
Provision (relief) for investor reserves	5,018	(896)
(Reversal of) provision for foreclosure losses	470	1,475
Valuation adjustment of contingent liabilities, net due to acquisitions	1,248	(45,402)
Gain on sale of mortgage loans excluding fair value of other financial instruments, net	(151,020)	(340,002)
Earnings from joint ventures	(165)	0
Deferred income taxes	(147)	85,257
Other	2,180	(4,938)
Benefit from investor reserves	(2,748)	(622)
Foreclosure loss reserve	(2,509)	(833)
Stock-based compensation	4,079	3,000
Changes in operating assets and liabilities:
Origination of mortgage loans held for sale	(7,012,503)	(11,908,191)
Proceeds on sale of and payments from mortgage loans held for sale	6,877,200	13,168,952
Accounts, notes and interest receivable	9,618	44,200
Other assets	6,199	2,208
Mortgage servicing rights	(71,945)	(149,295)
Accounts payable and accrued expenses	(2,329)	(12,351)
Accrued compensation and benefits	3,939	(28,368)
Income taxes	2,225	7,056
Contingent liability payments	0	(5,241)
Operating lease liabilities	(11,579)	(8,028)
Deferred compensation plan liability	(5,262)	4,035
Real estate owned, net	(922)	21
Net cash (used in) provided by operating activities	(315,899)	929,448
Cash flows from investing activities
Acquisition of businesses	(5,480)	0
Origination of reverse mortgage loans held for investment	(34,402)	0
Investments in joint ventures	(854)	0
Issuance of note receivable	(11,250)	0
Proceeds from the sale of property and equipment	3	176
Purchases of property and equipment	(2,426)	(2,546)
Net cash used in investing activities	(54,409)	(2,370)
Cash flows from financing activities
Borrowings on warehouse lines of credit	6,954,199	11,756,682
Repayments on warehouse lines of credit	(6,614,142)	(12,536,045)
Borrowings on MSR notes payable	30,000	0
Repayments on MSR notes payable	(32,500)	(131,250)
Contingent liability payments	0	(7,300)
Net change in notes payable	(530)	(1,261)
Taxes paid related to net share settlement of equity awards	(524)	0
Repurchases of Class A common stock	(1,118)	(1,445)
Net cash provided by (used in) financing activities	335,385	(920,619)
(Decrease) increase in cash, cash equivalents and restricted cash	(34,923)	6,459
Cash, cash equivalents and restricted cash, beginning of period	146,754	248,120
Cash, cash equivalents and restricted cash, end of period	111,831	254,579
Cash, cash equivalents and restricted cash at end of period are comprised of the following:
Cash and cash equivalents	105,963	248,987
Restricted cash	5,868	5,592
Total cash, cash equivalents and restricted cash	111,831	254,579
Supplemental information
Cash paid for interest, net	7,173	19,690
Cash paid for income taxes, net of refunds	(2,144)	(2,068)
Supplemental disclosure of non-cash investing activities:
Measurement period adjustments to goodwill	$ 760	$ (1,710)

BUSINESS, BASIS OF PRESENTATION

BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES	BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES Guild Holdings Company, including its consolidated subsidiaries (collectively, “Guild” or the “Company”) originates, sells, and services residential mortgage loans within the United States. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and in accordance with U.S. generally accepted accounting principles (“GAAP”) applicable to interim financial statements. These unaudited condensed consolidated financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results of the interim period. The condensed consolidated balance sheet data as of December 31, 2022 was derived from audited financial statements but does not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. The Company follows the same accounting policies for preparing quarterly and annual reports. Principles of Consolidation The Company's condensed consolidated financial statements include the accounts of the Company, Guild Mortgage Company LLC ("GMC"), and their consolidated subsidiaries and those variable interest entities ("VIE") of which the Company is the primary beneficiary. Generally, a VIE is a legal entity in which the equity investors do not have the characteristics of a controlling financial interest or lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. In determining whether the Company is the primary beneficiary of a VIE, the Company considers qualitative and quantitative factors, including, but not limited to: which activities most significantly impact the VIE’s economic performance and which party controls such activities; the amount and characteristics of the Company's investment; the obligation or likelihood for the Company or other investors to provide financial support; and the similarity with and significance to the Company's business activities and the business activities of the other investors. The Company consolidates one VIE. At June 30, 2023, the VIE had immaterial assets and liabilities. All intercompany accounts and transactions have been eliminated in consolidation. Investments in Joint Ventures The Company has investments in joint ventures involved in the mortgage lending business, which are included in other assets in the Condensed Consolidated Balance Sheets. The Company's investments in these joint ventures are accounted for under the equity method of accounting as the Company does not have a majority voting interest, operational control or financial control. As a result, the Company does not recognize the assets and liabilities of these joint ventures in its financial statements. The Company's share of the net earnings or losses of the investee are included in other income, net in the Condensed Consolidated Statements of Income (Loss). Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although management is not currently aware of any factors that would significantly change its estimates and assumptions, actual results could materially differ from those estimates. Escrow and Fiduciary Funds As a loan servicer, the Company maintains segregated bank accounts in trust for investors and escrow balances for mortgagors, which are excluded from the Company’s Condensed Consolidated Balance Sheets. These accounts totaled $899.2 million and $580.2 million at June 30, 2023 and December 31, 2022, respectively. Reverse Mortgage Loans Held for Investment In April 2023, the Company acquired certain assets of Cherry Creek Mortgage, LLC ("CCM") (see Note 3 - Acquisitions), which expanded its range of services by offering reverse mortgages to its customers. Reverse mortgage loans are residential mortgage loans for which neither principal nor interest is due until the borrower dies, the home is sold, or other trigger events occur. Reverse mortgage loans can have either fixed interest rates or adjustable interest rates. In the case of most fixed-rate reverse mortgage loans, the borrower must draw the loan proceeds up front in one lump sum, while many adjustable-rate mortgage loans provide the borrower with a line of credit that can be drawn over time. The Company has elected to measure these loans at fair value, on a recurring basis, with c hanges in fair value recorded as a charge or credit to gain on reverse mortgage loans held for investment in the Condensed Consolidated Statements of Income (Loss). The reverse mortgage loan activity is included in the Company's origination segment. Upfront costs and fees related to reverse mortgage loans held for investment, including broker fees, are recognized in gain on reverse mortgage loans held for investment in the Condensed Consolidated Statements of Income (Loss) as incurred and are not capitalized. Recent Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), which provides temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. ASU 2020-04 generally considers contract modifications related to reference rate reform to be an event that does not require contract remeasurement at the modification date nor a reassessment of a previous accounting determination. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope , which clarifies that the practical expedients in ASU 2020-04 apply to derivatives impacted by changes in the interest rate used for margining, discounting, or contract price alignment. The guidance in ASU 2020-04 is optional and may be elected over time, through December 31, 2022, as reference rate reform activities occur. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , to extend the temporary accounting rules from December 31, 2022 to December 31, 2024. Once ASU 2020-04 is elected, the guidance must be applied prospectively for all eligible contract modifications. For contracts to which ASC Topic 470 , Debt applies, the Company has applied the optional expedients available from ASU 2020-04 and accounted for the contract modifications related to reference rate reform prospectively. The Company transitioned its funding facilities and financing facilities that utilized LIBOR as the reference rate to alternative reference rates prior to the LIBOR cessation date of June 30, 2023 and there was no material impact on the Company's consolidated financial statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSFair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Inputs used to measure fair value are prioritized within a three-level fair value hierarchy. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The categorization of assets and liabilities measured at fair value within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The three levels of inputs used to measure fair value are as follows: • Level One - Level One inputs are unadjusted, quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level Two - Level Two inputs are observable for that asset or liability, either directly or indirectly, and include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, observable inputs for the asset or liability other than quoted prices and inputs derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified contractual term, the inputs must be observable for substantially the full term of the asset or liability. • Level Three - Level Three inputs are unobservable inputs for the asset or liability that reflect the Company’s assessment of the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, and are developed based on the best information available. The Company updates the valuation of each instrument recorded at fair value on a monthly or quarterly basis, evaluating all available observable information, which may include current market prices or bids, recent trade activity, changes in the levels of market activity and benchmarking of industry data. The assessment also includes consideration of identifying the valuation approach that would be used currently by market participants. If it is determined that a change in valuation technique or its application is appropriate, or if there are other changes in availability of observable data or market activity, the current methodology will be analyzed to determine if a transfer between levels of the valuation hierarchy is appropriate. Such reclassifications are reported as transfers into or out of a level as of the beginning of the quarter that the change occurs. Fair value is based on quoted market prices, when available. If quoted prices are not available, fair value is estimated based upon other observable inputs. Unobservable inputs are used when observable inputs are not available and are based upon judgments and assumptions, which are the Company’s assessment of the assumptions market participants would use in pricing the asset or liability. These inputs may include assumptions about risk, counterparty credit quality, the Company’s creditworthiness and liquidity and are developed based on the best information available. When a determination is made to classify an asset or liability within Level Three of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement of the asset or liability. The fair value of assets and liabilities classified within Level Three of the valuation hierarchy also typically includes observable factors and the realized or unrealized gain or loss recorded from the valuation of these instruments would also include amounts determined by observable factors. Recurring Fair Value Measurements The Company’s fair value measurements are evaluated within the fair value hierarchy, based on the nature of the inputs used to determine the fair value at the measurement date. At June 30, 2023 and December 31, 2022, the Company had the following assets and liabilities that are measured at fair value on a recurring basis: Trading Securities — Trading securities are classified within Level One of the valuation hierarchy. Valuation is based upon quoted prices for identical instruments traded in active markets. Level One trading securities include securities traded on active exchange markets, such as the New York Stock Exchange. Trading securities are included within other assets in the Condensed Consolidated Balance Sheets. Notes Receivable — Notes receivable are classified within Level Three of the valuation hierarchy as the Company's valuation includes significant unobservable inputs, including consideration of estimates of future earn-out payments, discount rates and expectations about settlement. Derivative Instruments — Derivative instruments are classified within Level Two and Level Three of the valuation hierarchy, and include the following: Interest Rate Lock Commitments — "IRLCs" are classified within Level Three of the valuation hierarchy. IRLCs represent an agreement to extend credit to a mortgage loan applicant, or an agreement to purchase a loan from a third-party originator, whereby the interest rate on the loan is set prior to funding. The fair value of IRLCs is based upon the estimated fair value of the underlying mortgage loan, including the expected net future cash flows related to servicing the mortgage loan, net of estimated incentive compensation expenses, and adjusted for: (i) estimated costs to complete and originate the loan and (ii) an adjustment to reflect the estimated percentage of IRLCs that will result in a closed mortgage loan under the original terms of the agreement (pull-through rate). The pull-through rate is considered a significant unobservable input and is estimated based on changes in pricing and actual borrower behavior using a historical analysis of loan closing and fallout data. The average pull-through rate used to calculate the fair value of IRLCs as of June 30, 2023 and December 31, 2022, was 85.4% and 93.4%, respectively. On a quarterly basis, actual loan pull-through rates are compared to the modeled estimates to confirm the assumptions are reflective of current trends. Generally, a change in interest rates is accompanied by a directionally opposite change in the assumption used for the pull-through percentage, and the impact to fair value of a change in pull-through would be partially offset by the related change in price. Forward Delivery Commitments — Forward delivery commitments are classified within Level Two of the valuation hierarchy. Forward delivery commitments fix the forward sales price that will be realized upon the sale of mortgage loans into the secondary market. The fair value of forward delivery commitments is primarily based upon the current agency mortgage-backed security market to-be-announced pricing specific to the loan program, delivery coupon and delivery date of the trade. Best efforts sales commitments are also entered into for certain loans at the time the borrower commitment is made. These best-efforts sales commitments are valued using the committed price to the counterparty against the current market price of the IRLC or mortgage loan held for sale. Option contracts are a type of forward commitment that represents the rights to buy or sell mortgage-backed securities at specified prices in the future. Their value is based upon the underlying current to-be-announced pricing of the agency mortgage-backed security market, and market-based volatility. See Note 6 for additional information on the derivative instruments. Mortgage Loans Held for Sale — "MLHS" are carried at fair value. The fair value of MLHS is based on secondary market pricing for loans with similar characteristics, and as such, is classified as a Level Two measurement. Fair value is estimated through a market approach by using either: (i) the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to servicing rights and credit risk, (ii) current commitments to purchase loans or (iii) recent observable market trades for similar loans, adjusted for credit risk and other individual loan characteristics. The agency mortgage-backed security market is a highly liquid and active secondary market for conforming conventional loans whereby quoted prices exist for securities at the pass-through level and are published on a regular basis. The Company has the ability to access this market and it is the market into which conforming mortgage loans are typically sold. Reverse Mortgage Loans Held for Investment — Reverse mortgage loans held for investment are carried at fair value and classified within Level Three of the valuation hierarchy. See Note 9 for additional information on the Company's reverse mortgage loans held for investment. Mortgage Servicing Rights — "MSRs" are classified within Level Three of the valuation hierarchy due to the use of significant unobservable inputs and the lack of an active market for such assets. The fair value of MSRs is estimated based upon projections of expected future cash flows considering prepayment estimates, the Company’s historical prepayment rates, portfolio characteristics, interest rates based on interest rate yield curves, implied volatility, costs to service and other economic factors. The Company obtains valuations from an independent third party on a monthly basis, and records an adjustment based on this third-party valuation. See Note 7 for additional information on the Company's MSRs. Investment in Warrants — The Company was a party to a joint marketing agreement with a private independent insurance carrier whereby the Company marketed their products and submitted leads for borrowers needing insurance. In connection with satisfying the conditions set forth under such agreement, the Company received warrants that may be exercised to purchase shares of common stock of the private company. The Company’s equity investment in the warrants is carried at its estimated fair value, which was determined using the price per share paid by an investor in an equity sale transaction completed by the private company, resulting in a Level Three classification. The warrants are exercisable until June 2025. The Company’s investment in the warrants will be revalued at each balance sheet date with changes in the fair value reported in other income, net in the Condensed Consolidated Statements of Income (Loss) each reporting period. The Company's investment in warrants is included within other assets in the Condensed Consolidated Balance Sheets. Contingent Liabilities due to acquisitions — Contingent liabilities represent future obligations of the Company to make payments to the former owners of its acquired companies. The Company determines the fair value of its contingent liabilities using a discounted cash flow approach whereby the Company forecasts the cash outflows related to the future payments, which are based on a percentage of net income specified in the purchase agreements. The Company then discounts these expected payment amounts to calculate the present value, or fair value, as of the valuation date. The Company’s management evaluates the underlying projections used in determining fair value each period and makes updates to these underlying projections. The Company uses a risk-adjusted discount rate to value the contingent liabilities, which is considered a significant unobservable input, and as such, the liabilities are classified as a Level Three measurement. Management’s underlying projections adjust for market penetration and other economic expectations, and the discount rate is risk-adjusted for key factors such as uncertainty in the mortgage banking industry due to its reliance on external influences (interest rates, regulatory changes, etc.), upfront payments, and credit risk. An increase in the discount rate will result in a decrease in the fair value of the contingent liabilities. Conversely, a decrease in the discount rate will result in an increase in the fair value of the contingent liabilities. At June 30, 2023 and December 31, 2022 the range of the risk adjusted discount rate was 10.1% - 25.0%, with a median of 25.0%, and 14.5% - 25.0%, with a median of 15.0%, respectively. Adjustments to the fair value of the contingent liabilities (other than payments) are recorded as a gain or loss and are included within general and administrative expenses in the Condensed Consolidated Statements of Income (Loss). The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2023: Description Level 1 Level 2 Level 3 Total Assets: Trading securities $ 84 $ — $ — $ 84 Notes receivable — — 9,824 9,824 Derivative Forward delivery commitments and best efforts sales commitments — 8,089 — 8,089 Interest rate lock commitments — — 5,613 5,613 Mortgage loans held for sale — 1,125,992 — 1,125,992 Reverse mortgage loans held for investment — — 36,709 36,709 Mortgage servicing rights — — 1,184,503 1,184,503 Investment in warrants — — 961 961 Total assets at fair value $ 84 $ 1,134,081 $ 1,237,610 $ 2,371,775 Liabilities: Contingent liabilities due to acquisitions $ — $ — $ 7,793 $ 7,793 Total liabilities at fair value $ — $ — $ 7,793 $ 7,793 The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2022: Description Level 1 Level 2 Level 3 Total Assets: Trading securities $ 96 $ — $ — $ 96 Derivative Forward delivery commitments — 1,602 — 1,602 Interest rate lock commitments — — 1,518 1,518 Mortgage loans held for sale — 845,775 — 845,775 Mortgage servicing rights — — 1,139,539 1,139,539 Investment in warrants — — 961 961 Total assets at fair value $ 96 $ 847,377 $ 1,142,018 $ 1,989,491 Liabilities: Derivative Forward delivery commitments and best efforts sales commitments $ — $ 5,173 $ — $ 5,173 Contingent liabilities due to acquisitions — — 526 526 Total liabilities at fair value $ — $ 5,173 $ 526 $ 5,699 The table below presents a reconciliation of certain Level Three assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2023 and 2022: IRLCs Contingent Note Receivable Balance at March 31, 2023 $ 12,206 $ 2,218 $ 11,250 Net transfers and revaluation losses (6,593) — — Additions — 4,401 — Valuation adjustments — 1,174 (1,426) Balance at June 30, 2023 $ 5,613 $ 7,793 $ 9,824 Balance at December 31, 2022 $ 1,518 $ 526 $ — Net transfers and revaluation gains 4,095 — — Additions — 6,103 11,250 Valuation adjustments — 1,164 (1,426) Balance at June 30, 2023 $ 5,613 $ 7,793 $ 9,824 Balance at March 31, 2022 $ (11,851) $ 20,438 $ — Net transfers and revaluation losses 26,451 — — Payments — (2,370) — Valuation adjustments — (16,511) Balance at June 30, 2022 $ 14,600 $ 1,557 $ — Balance at December 31, 2021 $ 22,119 $ 59,500 $ — Net transfers and revaluation losses (7,519) — — Payments — (12,541) — Valuation adjustments — (45,402) Balance at June 30, 2022 $ 14,600 $ 1,557 $ — Changes in the availability of observable inputs may result in reclassifications of certain assets or liabilities. Such reclassifications are reported as transfers in or out of Level Three as of the beginning of the period that the change occurs. There were no transfers between fair value levels during the three and six months ended June 30, 2023 and 2022. Non-Recurring Fair Value Measurements Certain assets and liabilities that are not typically measured at fair value on a recurring basis may be subject to fair value measurement requirements under certain circumstances. These adjustments to fair value usually result from write-downs of individual assets. At June 30, 2023 and December 31, 2022, the Company had the following financial assets measured at fair value on a non-recurring basis: Ginnie Mae Loans subject to Repurchase Right — Government National Mortgage Association ("GNMA" or "Ginnie Mae") securitization programs allow servicers to buy back individual delinquent mortgage loans from the securitized loan pool once certain conditions are met. If a borrower makes no payment for three consecutive months, the servicer has the option to repurchase the delinquent loan for an amount equal to 100% of the loan’s remaining principal balance. Under ASC 860, Transfers and Servicing , this buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional. The Company records these assets and liabilities at their fair value, which is determined to be the remaining unpaid principal balance ("UPB"). The Company’s future expected realizable cash flows are the cash payments of the remaining UPB whether paid by the borrower or reimbursed through a claim filed with HUD. The Company considers the fair value of these assets and liabilities to fall into the Level Two bucket in the valuation hierarchy due to the assets and liabilities having specified contractual terms and the inputs are observable for substantially the full term of the assets' and liabilities' lives. The following table summarizes the Company’s financial assets and liabilities measured at fair value on a non-recurring basis at June 30, 2023: Description Level 1 Level 2 Level 3 Total Assets: Ginnie Mae loans subject to repurchase right $ — $ 598,634 $ — $ 598,634 Total assets at fair value $ — $ 598,634 $ — $ 598,634 Liabilities: Ginnie Mae loans subject to repurchase right $ — $ 598,879 $ — $ 598,879 Total liabilities at fair value $ — $ 598,879 $ — $ 598,879 The following table summarizes the Company’s financial assets and liabilities measured at fair value on a non-recurring basis at December 31, 2022: Description Level 1 Level 2 Level 3 Total Assets: Ginnie Mae loans subject to repurchase right $ — $ 650,179 $ — $ 650,179 Total assets at fair value $ — $ 650,179 $ — $ 650,179 Liabilities: Ginnie Mae loans subject to repurchase right $ — $ 650,179 $ — $ 650,179 Total liabilities at fair value $ — $ 650,179 $ — $ 650,179 Fair Value Option The following is the estimated fair value and UPB of MLHS that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option was elected for MLHS as the Company believes fair value best reflects their expected future economic performance: Fair Value Principal Difference (1) Balance at June 30, 2023 $ 1,125,992 $ 1,155,240 $ (29,248) Balance at December 31, 2022 $ 845,775 $ 868,833 $ (23,058) _______________________________ (1) Represents the amount of losses included in loan origination fees and gain on sale of loans, net due to changes in fair value of items accounted for using the fair value option.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Cherry Creek Mortgage, LLC. On April 3, 2023, the Company acquired substantially all the assets of Cherry Creek Mortgage, LLC. (“CCM”) under the terms of an asset purchase agreement to expand the Company’s operations throughout the United States. The total fair value of consideration transferred was $8.3 million, which consisted of $2.6 million of cash, contingent consideration of $4.4 million and an original issuance discount on note receivable of $1.3 million. The note receivable issued to CCM in March 2023 represents advances made to CCM (see Note 4 for additional information on the note receivable). CCM is entitled to earn-out payments for four years based on certain performance criteria. There is no guarantee CCM will achieve any earn-out payments during the earn-out period. Earn-out payments will be first allocated to repay the principal and accrued interest on the note receivable. The acquisition has been accounted for as a business combination, under which the total purchase price is allocated to the net tangible and intangible assets and liabilities of CCM acquired in connection with the acquisition based on their preliminary fair values and are subject to change during the measurement period. Of the $8.3 million purchase price, we allocated $5.6 million to net assets and $2.7 million to goodwill. The goodwill resulting from the purchase price allocation reflects the expected synergistic benefits of expanding our geographic locations and the existing workforce. The acquired goodwill was allocated to the Origination segment and is deductible for tax purposes. Legacy Mortgage, LLC On February 13, 2023, the Company, acquired certain assets of Legacy Mortgage, LLC (“Legacy”) under the terms of an asset purchase agreement to expand the Company’s operations in the Southwest region. The total fair value of consideration transferred was $5.0 million, which consisted of $3.3 million of cash and contingent consideration of $1.7 million. Legacy is entitled to earn-out payments based on certain performance criteria for three years. The fair value of the earn-out payments on the acquisition date was $1.7 million. The acquisition has been accounted for as a business combination, under which the total purchase price is allocated to the net tangible and intangible assets and liabilities of Legacy acquired in connection with the acquisition based on their preliminary fair values and are subject to change during the measurement period. Of the $5.0 million purchase price, the Company allocated $0.4 million to net assets and $4.6 million to goodwill. The goodwill resulting from the purchase price allocation reflects the expected synergistic benefits of expanding the Company's geographic locations and the existing workforce. The acquired goodwill was allocated to the Origination segment and is deductible for tax purposes. The results of CCM and Legacy are included in the Company’s condensed consolidated financial statements since the date of the acquisitions and did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures. Transaction costs associated with these transactions were not material and were expensed as incurred within general and administrative expenses in the Condensed Consolidated Statements of Income (Loss).

ACCOUNTS, NOTES AND INTEREST RE

ACCOUNTS, NOTES AND INTEREST RECEIVABLE	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
ACCOUNTS, NOTES AND INTEREST RECEIVABLE	ACCOUNTS, NOTES AND INTEREST RECEIVABLE Accounts, notes and interest receivable consisted of the following: June 30, 2023 December 31, 2022 Trust advances $ 25,045 $ 44,164 Foreclosure advances, net 13,792 12,320 Receivables related to loan sales 4,219 562 Notes receivable 9,844 — Accrued interest - notes receivable 313 — Other 11,822 1,258 Total accounts, notes and interest receivable $ 65,035 $ 58,304 Management has established a foreclosure reserve for estimated uncollectible balances of the foreclosure and trust advances. Management believes that substantially all other accounts, notes and interest receivable amounts are collectible and, accordingly, no allowance for doubtful accounts is necessary. The activity of the foreclosure loss reserve was as follows: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Balance — beginning of period $ 8,665 $ 10,271 $ 8,698 $ 10,355 Utilization of foreclosure reserve (962) (1,070) (2,509) (833) (Reversal of) provision for foreclosure losses (1,044) 1,796 470 1,475 Balance — end of period $ 6,659 $ 10,997 $ 6,659 $ 10,997 Notes Receivable In March 2023, the Company issued a note receivable to CCM in the amount of $11.3 million in connection with the acquisition of CCM, which closed in April 2023. The Company recognized a discount on the note receivable of approximately $1.3 million on the date the acquisition closed. The note bears interest at a variable rate tied to the Secured Overnight Financing Rate ("SOFR") plus an applicable margin. Also, pursuant to the acquisition, CCM will be entitled to earn-out payments for four years based on certain performance criteria. The earn-out payments will be first allocated to repay the interest and principal due on the note receivable. The note receivable matures in April 2027. If an earn-out payment is not due to CCM, 50% of the interest payment may be "paid-in-kind", and thereby added to the principal balance.

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Jun. 30, 2023
Other Assets [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consisted of the following: June 30, 2023 December 31, 2022 Prepaid expenses $ 25,431 $ 31,499 Company owned life insurance 40,237 37,871 Property and equipment, net 13,750 12,118 Right-of-use assets 73,133 74,660 Income tax receivable 24,306 26,531 Real estate owned 1,472 306 Land 1,969 2,034 Trading securities 84 96 Investments in joint ventures, net 896 — Investment in warrants 961 961 Total other assets $ 182,239 $ 186,076 Property and equipment, net consisted of the following: June 30, 2023 December 31, 2022 Computer equipment $ 30,543 $ 29,447 Furniture and equipment 25,725 25,072 Leasehold improvements 19,624 18,713 Internal-use software in production 1,998 772 Internal-use software 11,448 10,357 Property and equipment, gross 89,338 84,361 Accumulated depreciation (75,588) (72,243) Property and equipment, net $ 13,750 $ 12,118 Depreciation and amortization expense for property and equipment was $1.7 million and $1.8 million for the three months ended June 30, 2023 and 2022, respectively, and $3.4 million and $3.7 million for the six months ended June 30, 2023 and 2022, respectively.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company uses forward commitments in hedging the interest rate risk exposure on its fixed and adjustable rate commitments. The Company’s derivative instruments are not designated as hedging instruments for accounting purposes; therefore, changes in fair value are recognized in current period earnings. Realized and unrealized gains and losses from the Company's non-designated derivative instruments are included in loan origination fees and gain on sale of loans, net in the Condensed Consolidated Statements of Income (Loss). Changes in the fair value of the Company's derivative financial instruments are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Unrealized hedging gains (losses) $ 9,703 $ (46,957) $ 15,755 $ (6,924) Notional and Fair Value The notional and fair value of derivative financial instruments not designated as hedging instruments were as follows at June 30, 2023 and December 31, 2022: Fair Value Notional Derivative Derivative Balance at June 30, 2023 IRLCs $ 1,338,917 $ 5,613 $ — Forward delivery commitments and best efforts sales commitments $ 1,621,954 $ 8,089 $ — Balance at December 31, 2022 IRLCs $ 810,514 $ 1,518 $ — Forward delivery commitments and best efforts sales commitments $ 1,127,154 $ 1,602 $ 5,173 The Company had an additional $273.7 million and $256.3 million of outstanding forward contracts and mandatory sell commitments, comprised of closed loans with equal and offsetting UPB amounts allocated to them, at June 30, 2023 and December 31, 2022, respectively. The Company also had $325.0 million and $470.8 million in closed hedge instruments not yet settled at June 30, 2023 and December 31, 2022, respectively. See Note 2 for fair value disclosure of the derivative instruments. The following table presents the quantitative information about IRLCs and the fair value measurements: June 30, 2023 December 31, 2022 Unobservable Input Range (Weighted Average) Loan funding probability (“pull-through”) 0% -100% (85.4%) 0% - 100% (93.4%) Counterparty agreements for forward commitments contain master netting agreements. The master netting agreements contain a legal right to offset amounts due to and from the same counterparty. The Company incurred no credit losses due to nonperformance of any of its counterparties during the three and six months ended June 30, 2023 and 2022. The table below represents financial assets and liabilities that are subject to master netting arrangements categorized by financial instrument: Gross Gross Net June 30, 2023 Forward delivery commitments and best efforts sales commitments $ 8,352 $ (263) $ 8,089 Total assets $ 8,352 $ (263) $ 8,089 December 31, 2022 Forward delivery commitments $ 1,887 $ (285) $ 1,602 Total assets $ 1,887 $ (285) $ 1,602 Forward delivery commitments and best efforts sales commitments $ (11,399) $ 4,959 $ (6,440) Margin calls 1,267 — 1,267 Total liabilities $ (10,132) $ 4,959 $ (5,173)

MORTGAGE SERVICING RIGHTS

MORTGAGE SERVICING RIGHTS	6 Months Ended
	Jun. 30, 2023
Transfers and Servicing [Abstract]
MORTGAGE SERVICING RIGHTS	MORTGAGE SERVICING RIGHTS The activity of mortgage servicing rights was as follows: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Balance — beginning of period $ 1,112,161 $ 937,556 $ 1,139,539 $ 675,340 MSRs originated 44,452 71,680 71,945 149,295 Changes in fair value: Due to collection/realization of cash flows (15,890) (25,827) (27,060) (50,721) Due to changes in valuation model inputs or assumptions 43,780 46,901 79 256,396 Balance — end of period $ 1,184,503 $ 1,030,310 $ 1,184,503 $ 1,030,310 The following table presents the weighted average discount rate, prepayment speed and cost to service assumptions used to determine the fair value of MSRs: June 30, 2023 December 31, 2022 Unobservable Input Range (Weighted Average) Discount rate 9.6% - 15.6% (10.7%) 9.6% - 15.7% (10.6%) Prepayment rate 6.5% - 27.6% (7.9%) 6.6% - 28.6% (7.5%) Cost to service (per loan) $72.0 - $273.4 ($91.8) $66.7 - $330.4 ($92.0) At June 30, 2023 and December 31, 2022, the MSRs had a weighted average life of approximately 8.3 years and 8.5 years, respectively. See Note 2 for additional information regarding the valuation of MSRs. Actual revenue generated from servicing activities included contractually specified servicing fees, as well as late fees and other ancillary servicing revenue, which were recorded within loan servicing and other fees as follows for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Servicing fees from servicing portfolio $ 59,410 $ 53,368 $ 118,390 $ 104,932 Late fees 1,619 1,368 3,287 2,883 Other ancillary servicing revenue and fees (818) (141) (1,379) (43) Total loan servicing and other fees $ 60,211 $ 54,595 $ 120,298 $ 107,772 At June 30, 2023 and December 31, 2022, the UPB of mortgage loans serviced totaled $82.0 billion and $78.9 billion, respectively. Conforming conventional loans serviced by the Company are sold to the Federal National Mortgage Association ("FNMA" or "Fannie Mae") or the Federal Home Loan Mortgage Corporation ("FHLMC" or "Freddie Mac") programs on a nonrecourse basis, whereby foreclosure losses are generally the responsibility of FNMA and FHLMC and not the Company. Similarly, certain loans serviced by the Company are secured through GNMA programs, whereby the Company is insured against loss by the Federal Housing Association ("FHA") or partially guaranteed against loss by the Department of Veterans Affairs ("VA"). The key assumptions used to estimate the fair value of MSRs are prepayment speeds, the discount rate and costs to service. Increases in prepayment speeds generally have an adverse effect on the value of MSRs as the underlying loans prepay faster. In a declining interest rate environment, the fair value of MSRs generally decreases as prepayments increase and therefore, the estimated life of the MSRs and related cash flows decrease. Decreases in prepayment speeds generally have a positive effect on the value of MSRs as the underlying loans prepay less frequently. In a rising interest rate environment, the fair value of MSRs generally increases as prepayments decrease and therefore, the estimated life of the MSRs and related cash flows increase. Increases in the discount rate generally have an adverse effect on the value of the MSRs. The discount rate is risk adjusted for key factors such as uncertainty in the mortgage banking industry due to its reliance on external influences (interest rates, regulatory changes, etc.), premium for market liquidity, and credit risk. A higher discount rate would indicate higher uncertainty of the future cash flows. Conversely, decreases in the discount rate generally have a positive effect on the value of the MSRs. Increases in the costs to service generally have an adverse effect on the value of the MSRs as an increase in costs to service would reduce the Company’s future net cash inflows from servicing a loan. Conversely, decreases in the costs to service generally have a positive effect on the value of the MSRs. MSR uncertainties are hypothetical and do not always have a direct correlation with each assumption. Changes in one assumption may result in changes to another assumption, which might magnify or counteract the uncertainties. The following table illustrates the impact of adverse changes on the prepayment speeds, discount rate and cost to service at two different data points at June 30, 2023 and December 31, 2022, respectively: Prepayment Speeds Discount Rate Cost to Service (per loan) 10% Adverse 20% Adverse 10% Adverse 20% Adverse 10% Adverse 20% Adverse June 30, 2023 Mortgage servicing rights $ (37,298) $ (72,947) $ (50,152) $ (96,983) $ (11,744) $ (23,777) December 31, 2022 Mortgage servicing rights $ (36,298) $ (70,878) $ (50,392) $ (96,848) $ (11,880) $ (24,162)

MORTGAGE LOANS HELD FOR SALE

MORTGAGE LOANS HELD FOR SALE	6 Months Ended
	Jun. 30, 2023
Mortgage Loans Held For Sale [Abstract]
MORTGAGE LOANS HELD FOR SALE	MORTGAGE LOANS HELD FOR SALE The Company sells substantially all of its originated mortgage loans into the secondary market. The Company may retain the right to service some of these loans upon sale through ownership of servicing rights. A reconciliation of the changes in mortgage loans held for sale to the amounts presented in the Condensed Consolidated Statements of Cash Flows is set forth below: Six Months Ended 2023 2022 Balance at the beginning of period $ 845,775 $ 2,204,216 Origination of mortgage loans held for sale 7,012,503 11,908,191 Proceeds on sale of and payments from mortgage loans held for sale (6,877,200) (13,168,952) Gain on sale of mortgage loans excluding fair value of other financial instruments, net 151,020 340,002 Valuation adjustment of mortgage loans held for sale (6,106) (33,648) Balance at the end of period $ 1,125,992 $ 1,249,809 At June 30, 2023, mortgage loans held for sale included UPB of the underlying loans of $1.2 billion and had a fair value of $1.1 billion. At December 31, 2022, mortgage loans held for sale included UPB of the underlying loans of $868.8 million and had a fair value of $845.8 million.

REVERSE MORTGAGE LOANS HELD FOR

REVERSE MORTGAGE LOANS HELD FOR INVESTMENT	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
REVERSE MORTGAGE LOANS HELD FOR INVESTMENT	REVERSE MORTGAGE LOANS HELD FOR INVESTMENT Three and Six Months Ended Beginning balance $ — Originations 34,192 Additional funding 211 Fair value gain recognized in earnings (1) 2,306 Ending balance $ 36,709 Unsecuritized loans $ 36,709 Total $ 36,709 ______________________________ (1) See further breakdown in the table below Gain on Reverse Mortgage Loans Held for Investment Three and Six Months Ended Change in fair value of reverse mortgage loans held for investment $ 2,306 Fair value gain recognized in earnings 2,306 Gain on reverse mortgage loans held for investment $ 2,306

INVESTOR RESERVES

INVESTOR RESERVES	6 Months Ended
	Jun. 30, 2023
Investor Reserves [Abstract]
INVESTOR RESERVES	INVESTOR RESERVES The Company’s estimate of the investor reserves considers the current macro-economic environment and recent repurchase trends; however, if the Company experiences a prolonged period of higher repurchase and indemnification activity, then the realized losses from loan repurchases and indemnifications may ultimately be in excess of the liability. The maximum exposure under the Company’s representations and warranties would be the outstanding principal balance and any premium received on all loans ever sold by the Company, less any loans that have already been paid in full by the mortgagee, that have defaulted without a breach of representations and warranties, that have been indemnified via settlement or make-whole, or that have been repurchased. Additionally, the Company may receive relief of certain representations and warranty obligations on loans sold to FNMA or FHLMC on or after January 1, 2013 if FNMA or FHLMC satisfactorily concludes a quality control loan file review or if the borrower meets certain acceptable payment history requirements within 12 or 36 months after the loan is sold to FNMA or FHLMC. The activity of the investor reserves was as follows: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Balance — beginning of period $ 16,671 $ 17,380 $ 16,094 $ 18,437 Benefit from investor reserves (1,423) (2,192) (2,748) (622) Provision for (relief from) investor reserves 3,116 1,731 5,018 (896) Balance — end of period $ 18,364 $ 16,919 $ 18,364 $ 16,919

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill allocated to the origination segment are presented in the following table: Balance at December 31, 2022 $ 176,769 Measurement period adjustments for Inlanta (1) 760 Goodwill acquired from Legacy (see Note 3) 4,621 Goodwill acquired from CCM (see Note 3) 2,744 Balance at June 30, 2023 $ 184,894 ______________________________ (1) During the three months ended March 31, 2023, the Company recorded measurement period adjustments which increased goodwill by $1.5 million for certain retention bonuses and decreased goodwill by $0.8 million for the partial return of the purchase price required within 90 days of the acquisition based on a provision in the asset purchase agreement related to the Company's acquisition of Inlanta Mortgage, Inc. during December 2022. These adjustments did not impact the Company's statements of income (loss). Intangible Assets The following table presents our intangible assets, net as of June 30, 2023: Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (Years) Referral network $ 42,300 $ 14,100 $ 28,200 3.8 Non-compete agreements 2,700 1,800 900 0.1 $ 45,000 $ 15,900 $ 29,100 3.8 Amortization expense related to intangible assets was $2.0 million for each of the three months ended June 30, 2023 and 2022, and $4.0 million for each of the six months ended June 30, 2023 and 2022.

WAREHOUSE LINES OF CREDIT

WAREHOUSE LINES OF CREDIT	6 Months Ended
	Jun. 30, 2023
Line of Credit Facility [Abstract]
WAREHOUSE LINES OF CREDIT	WAREHOUSE LINES OF CREDIT Warehouse lines of credit consisted of the following at June 30, 2023 and December 31, 2022. Changes subsequent to June 30, 2023 have been described in the notes referenced with the below table. Maturity as of June 30, June 30, 2023 December 31, 2022 $345 million master repurchase facility agreement (1) January 2024 $ 172,099 $ 47,565 $150 million master repurchase facility agreement (2) August 2023 87,082 10,848 $300 million master repurchase facility agreement (3) June 2024 201,382 189,512 $200 million master repurchase facility agreement (4) May 2024 103,055 110,605 $200 million master repurchase facility agreement (5) September 2023 96,035 16,131 $300 million master repurchase facility agreement (6) September 2023 165,315 81,353 $100 million master repurchase facility agreement (7) July 2023 5,371 56,237 $50 million master repurchase facility agreement (8) N/A 33,178 — $75 million master repurchase facility agreement (9) March 2025 36,362 40,096 $200 million master repurchase facility agreement (10) N/A 154,979 162,454 1,054,858 714,801 Prepaid commitment fees (1,798) (1,650) Net warehouse lines of credit $ 1,053,060 $ 713,151 ______________________________ (1) The variable interest rate is calculated using a base rate tied to SOFR. (2) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This line of credit requires a minimum deposit of $750,000. (3) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility requires a minimum deposit of $1.5 million. (4) The variable interest rate is calculated using a base rate plus SOFR, with a floor of 0.375% plus the applicable interest rate margin. (5) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.40%, plus the applicable interest rate margin. (6) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.50%, plus the applicable interest rate margin. (7) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.25%, plus the applicable interest rate margin. Subsequent to June 30, 2023, this facility was paid in full and terminated. (8) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility’s maturity date is 30 days from written notice by either the financial institution or the Company. (9) The interest rate on this facility is 3.375%. This facility is used for GNMA delinquent buyouts. Each buyout represents a separate transaction that can remain on the facility for up to four years. (10) This facility agreement is due on demand and the variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.75%. The weighted average interest rate for warehouse lines of credit was 7.02% and 3.31% at June 30, 2023 and December 31, 2022, respectively. All warehouse lines of credit are collateralized by underlying mortgages and related documents. Existing balances on warehouse lines are repaid through the sale proceeds from the collateralized loans held for sale. The Company had cash balances of $6.9 million and $50.7 million in its warehouse buy down accounts as offsets to certain lines of credit at June 30, 2023 and December 31, 2022, respectively. The agreements governing the Company’s warehouse lines of credit contain covenants that include certain financial requirements, including maintenance of maximum adjusted leverage ratio, minimum net worth, minimum tangible net worth, minimum liquidity, positive quarterly income and limitations on additional indebtedness, dividends, sale of assets, and decline in the mortgage loan servicing portfolio’s fair value. At June 30, 2023 and December 31, 2022, the Company believes it was in compliance with all debt covenants. The Company has an optional short-term financing agreement between FNMA and the lender described as “As Soon As Pooled”. The Company can elect to assign FNMA Mortgage Backed Security ("MBS") trades to FNMA in advance of settlement and enter into a financing transaction and revenue related to the assignment is deferred until the final pool settlement date. The Company determines utilization based on warehouse availability and cash needs. There was no outstanding balance as of June 30, 2023 and December 31, 2022. Revolving Notes: The Company has an agreement for a revolving note from one of its warehouse banks, which it can draw upon as needed. The agreement currently expires in August 2027. Borrowings on the revolving note are collateralized by the Company’s GNMA MSRs. Monthly interest on the outstanding balance is calculated using a base rate tied to the SOFR rate plus the applicable margin, with a SOFR floor of 0.5%. The revolving note also has an unused facility fee on the average unused balance, which is also paid quarterly. The unused facility fee is waived if the average outstanding balance exceeds 50% of the available facility. The revolving note has a committed amount of $135.0 million and the agreement allows for the Company to increase the committed amount up to a maximum of $200.0 million. The Company has the option to convert the outstanding balance of the revolving note into a term note at its discretion. At June 30, 2023 and December 31, 2022, the Company had no balance and $20.0 million, respectively, in outstanding borrowings on this credit facility. The Company has an agreement for a revolving note of up to $100.0 million from one of its warehouse banks, which it can draw upon as needed. The agreement currently expires in September 2023. Borrowings on the revolving note are collateralized by the Company’s FHLMC MSRs. Monthly interest on the outstanding balance is calculated using a base rate tied to the SOFR rate plus the applicable margin, with a floor of 0.50%. The revolving note also has an unused facility fee on the average unused balance, which is also paid quarterly. The unused facility fee is waived if the average outstanding balance exceeds 35% of the available combined warehouse and MSR facility. The lender has the option to convert the outstanding balance of the revolving note into a term note at its discretion. At June 30, 2023 and December 31, 2022, the Company had $30.0 million and no balance, respectively, in outstanding borrowings on this credit facility. Term Note: The Company has a term note agreement with one of its warehouse banks collateralized by the Company’s FNMA MSRs. The term note has a committed amount of $125.0 million and the agreement allows for the Company to increase the committed amount up to a maximum of $175.0 million. The Company could draw on the committed amount through March 2022 and the note matures in March 2024. Interest on the principal is paid monthly and is based upon a margin plus the highest of the (i) Prime Rate, (ii) Federal Funds Rate plus 0.5%, or (iii) the Eurodollar Base Rate plus 1.0%. Principal payments of 5% of the outstanding balance as of March 31, 2022 are due quarterly beginning April 15, 2022, with the remaining principal balance due upon maturity. The term note also has an unused facility fee on the average unused balance, which is also paid quarterly. At June 30, 2023 and December 31, 2022, the Company had an outstanding balance of $93.8 million and $106.3 million, respectively, on this facility. The minimum calendar year payments of the Company’s term note as of June 30, 2023 are as follows: 2023 $ 12,500 2024 81,250 Total $ 93,750

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
NOTES PAYABLE	WAREHOUSE LINES OF CREDIT Warehouse lines of credit consisted of the following at June 30, 2023 and December 31, 2022. Changes subsequent to June 30, 2023 have been described in the notes referenced with the below table. Maturity as of June 30, June 30, 2023 December 31, 2022 $345 million master repurchase facility agreement (1) January 2024 $ 172,099 $ 47,565 $150 million master repurchase facility agreement (2) August 2023 87,082 10,848 $300 million master repurchase facility agreement (3) June 2024 201,382 189,512 $200 million master repurchase facility agreement (4) May 2024 103,055 110,605 $200 million master repurchase facility agreement (5) September 2023 96,035 16,131 $300 million master repurchase facility agreement (6) September 2023 165,315 81,353 $100 million master repurchase facility agreement (7) July 2023 5,371 56,237 $50 million master repurchase facility agreement (8) N/A 33,178 — $75 million master repurchase facility agreement (9) March 2025 36,362 40,096 $200 million master repurchase facility agreement (10) N/A 154,979 162,454 1,054,858 714,801 Prepaid commitment fees (1,798) (1,650) Net warehouse lines of credit $ 1,053,060 $ 713,151 ______________________________ (1) The variable interest rate is calculated using a base rate tied to SOFR. (2) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This line of credit requires a minimum deposit of $750,000. (3) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility requires a minimum deposit of $1.5 million. (4) The variable interest rate is calculated using a base rate plus SOFR, with a floor of 0.375% plus the applicable interest rate margin. (5) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.40%, plus the applicable interest rate margin. (6) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.50%, plus the applicable interest rate margin. (7) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.25%, plus the applicable interest rate margin. Subsequent to June 30, 2023, this facility was paid in full and terminated. (8) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility’s maturity date is 30 days from written notice by either the financial institution or the Company. (9) The interest rate on this facility is 3.375%. This facility is used for GNMA delinquent buyouts. Each buyout represents a separate transaction that can remain on the facility for up to four years. (10) This facility agreement is due on demand and the variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.75%. The weighted average interest rate for warehouse lines of credit was 7.02% and 3.31% at June 30, 2023 and December 31, 2022, respectively. All warehouse lines of credit are collateralized by underlying mortgages and related documents. Existing balances on warehouse lines are repaid through the sale proceeds from the collateralized loans held for sale. The Company had cash balances of $6.9 million and $50.7 million in its warehouse buy down accounts as offsets to certain lines of credit at June 30, 2023 and December 31, 2022, respectively. The agreements governing the Company’s warehouse lines of credit contain covenants that include certain financial requirements, including maintenance of maximum adjusted leverage ratio, minimum net worth, minimum tangible net worth, minimum liquidity, positive quarterly income and limitations on additional indebtedness, dividends, sale of assets, and decline in the mortgage loan servicing portfolio’s fair value. At June 30, 2023 and December 31, 2022, the Company believes it was in compliance with all debt covenants. The Company has an optional short-term financing agreement between FNMA and the lender described as “As Soon As Pooled”. The Company can elect to assign FNMA Mortgage Backed Security ("MBS") trades to FNMA in advance of settlement and enter into a financing transaction and revenue related to the assignment is deferred until the final pool settlement date. The Company determines utilization based on warehouse availability and cash needs. There was no outstanding balance as of June 30, 2023 and December 31, 2022. Revolving Notes: The Company has an agreement for a revolving note from one of its warehouse banks, which it can draw upon as needed. The agreement currently expires in August 2027. Borrowings on the revolving note are collateralized by the Company’s GNMA MSRs. Monthly interest on the outstanding balance is calculated using a base rate tied to the SOFR rate plus the applicable margin, with a SOFR floor of 0.5%. The revolving note also has an unused facility fee on the average unused balance, which is also paid quarterly. The unused facility fee is waived if the average outstanding balance exceeds 50% of the available facility. The revolving note has a committed amount of $135.0 million and the agreement allows for the Company to increase the committed amount up to a maximum of $200.0 million. The Company has the option to convert the outstanding balance of the revolving note into a term note at its discretion. At June 30, 2023 and December 31, 2022, the Company had no balance and $20.0 million, respectively, in outstanding borrowings on this credit facility. The Company has an agreement for a revolving note of up to $100.0 million from one of its warehouse banks, which it can draw upon as needed. The agreement currently expires in September 2023. Borrowings on the revolving note are collateralized by the Company’s FHLMC MSRs. Monthly interest on the outstanding balance is calculated using a base rate tied to the SOFR rate plus the applicable margin, with a floor of 0.50%. The revolving note also has an unused facility fee on the average unused balance, which is also paid quarterly. The unused facility fee is waived if the average outstanding balance exceeds 35% of the available combined warehouse and MSR facility. The lender has the option to convert the outstanding balance of the revolving note into a term note at its discretion. At June 30, 2023 and December 31, 2022, the Company had $30.0 million and no balance, respectively, in outstanding borrowings on this credit facility. Term Note: The Company has a term note agreement with one of its warehouse banks collateralized by the Company’s FNMA MSRs. The term note has a committed amount of $125.0 million and the agreement allows for the Company to increase the committed amount up to a maximum of $175.0 million. The Company could draw on the committed amount through March 2022 and the note matures in March 2024. Interest on the principal is paid monthly and is based upon a margin plus the highest of the (i) Prime Rate, (ii) Federal Funds Rate plus 0.5%, or (iii) the Eurodollar Base Rate plus 1.0%. Principal payments of 5% of the outstanding balance as of March 31, 2022 are due quarterly beginning April 15, 2022, with the remaining principal balance due upon maturity. The term note also has an unused facility fee on the average unused balance, which is also paid quarterly. At June 30, 2023 and December 31, 2022, the Company had an outstanding balance of $93.8 million and $106.3 million, respectively, on this facility. The minimum calendar year payments of the Company’s term note as of June 30, 2023 are as follows: 2023 $ 12,500 2024 81,250 Total $ 93,750

STOCKHOLDERS' EQUITY AND EARNIN

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity and Earnings Per Share [Abstract]
STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE	STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE Basic earnings per share is computed based on the weighted average number of shares of Class A and Class B common stock outstanding during the period using the two-class method. Diluted earnings per share is computed based on the weighted average number of shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include restricted stock units ("RSUs") for Class A common stock. The following table sets forth the components of basic and diluted earnings (loss) per share: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Net income (loss) attributable to Guild $ 36,936 $ 58,272 $ (254) $ 266,230 Weighted-average shares outstanding, Class A Common Stock 20,629 20,731 20,598 20,727 Weighted-average shares outstanding, Class B Common Stock 40,333 40,333 40,333 40,333 Weighted-average shares outstanding - basic 60,962 61,064 60,931 61,060 Add dilutive effects of non-vested shares of restricted stock - Class A 839 586 — 719 Weighted-average shares outstanding - diluted 61,801 61,650 60,931 61,779 Basic earnings per share: Class A and Class B Common Stock $ 0.61 $ 0.95 $ — $ 4.36 Diluted earnings per share: Class A and Class B Common Stock $ 0.60 $ 0.95 $ — $ 4.31 Approximately 0.8 million potential shares of Class A common stock related to unvested RSUs were excluded from the calculation of diluted loss per share for the six months ended June 30, 2023 because they were anti-dilutive due to the net loss. No shares of Class A common stock were excluded from the calculation of earnings per share as a result of being anti-dilutive for the three months ended June 30, 2023 and the three and six months ended June 30, 2022. Capital Stock The Company has two classes of common stock: Class A and Class B. The Company's Class A common stock is traded on the New York Stock Exchange under the symbol “GHLD.” There is no public market for the Company’s Class B common stock. However, under the terms of the Company’s Certificate of Incorporation, the holder of Class B common stock may convert any portion or all of the holder’s shares of Class B common stock into an equal number of shares of Class A common stock at any time. The holders of shares of Class A common stock and Class B common stock are entitled to dividends when and if declared by the Company’s Board of Directors out of legally available funds. Any stock dividend must be paid in shares of Class A common stock with respect to Class A common stock and in shares of Class B common stock with respect to Class B common stock. The voting powers, preferences and relative rights of Class A common stock and Class B common stock are identical in all respects, except that the holders of shares of Class A common stock have one vote per share and the holders of shares of Class B common stock have ten votes per share. Restricted Stock Units The Company issues RSUs, which represent the right to receive, upon vesting, one share of the Company’s Class A common stock. The number of potentially dilutive shares related to RSUs is based on the number of shares, if any, that would be issuable at the end of the respective reporting period, assuming that date was the end of the vesting period. Share Repurchase Program On May 5, 2022, the Company’s Board of Directors authorized the Company to repurchase up to $20.0 million of the Company’s outstanding Class A common stock over the next 24 months from such date. The share repurchase program allows the Company to repurchase shares of its Class A common stock from time to time on the open market or in privately negotiated transactions. The Company is not obligated to purchase any shares under the share repurchase program and the timing of any repurchases will depend on a number of factors, including, but not limited to, stock price, trading volume, market conditions, and other general business considerations. The share repurchase program may be modified, suspended or terminated by the Company’s Board of Directors at any time. The Company intends to fund any repurchases under the share repurchase program with cash on hand. During the three and six months ended June 30, 2023, the Company repurchased and subsequently retired 51,588 and 101,754 shares of the Company’s Class A common stock at an average purchase price of $10.58 per share and $10.88 per share, respectively. As of June 30, 2023, $13.3 million remained available for repurchase.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock-Based Compensation The Company’s stock-based compensation arrangements include grants of RSUs under the 2020 Omnibus Incentive Plan. The stock-based compensation costs recognized during the three and six months ended June 30, 2023 was $2.3 million and $4.1 million, respectively, and $1.7 million and $3.0 million for the three and six months ended June 30, 2022, and are included in salaries, incentive compensation and benefits. The income tax benefit recognized related to this expense was approximately $0.1 million and $0.3 million for the three months ended June 30, 2023 and 2022, respectively, and $0.4 million and $0.5 million for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023, there was approximately $15.7 million of unrecognized compensation costs related to non-vested RSUs, which the Company expects to recognize over a weighted average period of 1.8 years.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments to Extend Credit The Company enters into IRLCs with customers who have applied for residential mortgage loans and meet certain credit and underwriting criteria. These commitments expose the Company to market risk if interest rates change and the loan is not economically hedged or committed to an investor. The Company is also exposed to credit loss if the loan is originated and not sold to an investor and the customer does not perform. The collateral upon extension of credit typically consists of a first deed of trust in the mortgagor’s residential property. Commitments to originate loans do not necessarily reflect future cash requirements as some commitments are expected to expire without being drawn upon. Total commitments to originate loans at June 30, 2023 and December 31, 2022 were approximately $1.3 billion and $0.8 billion, respectively. The Company manages the interest rate price risk associated with its outstanding IRLCs and loans held for sale by entering into derivative loan instruments such as forward loan sales commitments, mandatory delivery commitments, options and futures contracts. Total commitments related to these derivatives at June 30, 2023 and December 31, 2022 were approximately $1.6 billion and $1.1 billion, respectively. Legal The Company is involved in various lawsuits arising in the ordinary course of business. While the ultimate results of these lawsuits cannot be predicted with certainty, management does not expect that these matters will have a material adverse effect on the consolidated financial position or results of operations of the Company.

MINIMUM NET WORTH REQUIREMENTS

MINIMUM NET WORTH REQUIREMENTS	6 Months Ended
	Jun. 30, 2023
Mortgage Banking [Abstract]
MINIMUM NET WORTH REQUIREMENTS	MINIMUM NET WORTH REQUIREMENTS Certain secondary market investors and state regulators require the Company to maintain minimum net worth and capital requirements. To the extent that these requirements are not met, secondary market investors and/or the state regulators may utilize a range of remedies including sanctions, and/or suspension or termination of selling and servicing agreements, which may prohibit the Company from originating, securitizing or servicing these specific types of mortgage loans. The Company is subject to the following minimum net worth, minimum capital ratio and minimum liquidity requirements established by the Federal Housing Finance Agency ("FHFA") for Fannie Mae and Freddie Mac Seller/Servicers, and Ginnie Mae for single family issuers. Minimum Net Worth The minimum net worth requirement for Fannie Mae and Freddie Mac is defined as follows: • Base of $2,500 plus 25 basis points of outstanding UPB for total loans serviced. • Adjusted/Tangible Net Worth comprises total equity less goodwill, intangible assets, affiliate receivables and certain pledged assets. The minimum net worth requirement for Ginnie Mae is defined as follows: • Base of $2,500 plus 35 basis points of the issuer’s total single-family effective outstanding obligations. • Adjusted/Tangible Net Worth comprises total equity less goodwill, intangible assets, affiliate receivables and certain pledged assets. Minimum Capital Ratio • For Fannie Mae, Freddie Mac and Ginnie Mae the Company is also required to hold a ratio of Adjusted/Tangible Net Worth to Total Assets greater than 6%. Minimum Liquidity The minimum liquidity requirement for Fannie Mae and Freddie Mac is defined as follows: • 3.5 basis points of total Agency servicing. • Incremental 200 basis points of total nonperforming Agency, measured as 90 plus day delinquencies, servicing in excess of 6% of the total Agency servicing UPB. • Allowable assets for liquidity may include: cash and cash equivalents (unrestricted); available for sale or held for trading investment grade securities (e.g., Agency MBS, Obligations of Government Sponsored Entities, US Treasury Obligations); and unused/available portion of committed servicing advance lines. The minimum liquidity requirement for Ginnie Mae is defined as follows: • Maintain liquid assets equal to the greater of $1,000 or 10 basis points of the Company's outstanding single-family MBS. The most restrictive of the minimum net worth and capital requirements require the Company to maintain a minimum adjusted net worth balance of $86,951 as of December 31, 2022. As of December 31, 2022, the Company was in compliance with this requirement. In August 2022, the FHFA and Ginnie Mae revised their minimum financial eligibility requirements. The requirements will be effective at various dates beginning September 30, 2023, for issuers of securities guaranteed by Ginnie Mae and seller/servicers of mortgage loans to Fannie Mae and Freddie Mac. The Company is evaluating the impact of the revised requirements.

SEGMENTS

SEGMENTS	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS ASC 280, Segment Reporting , establishes the standards for reporting information about segments in financial statements. In applying the criteria set forth in that guidance, the Company has determined that it has two reportable segments — Origination and Servicing. Origination — The Company operates its loan origination business throughout the United States. Its licensed sales professionals and support staff cultivate deep relationships with referral partners and clients and provide a customized approach to the loan transaction whether it is a purchase or refinance. The origination segment is primarily responsible for loan origination, acquisition and sale activities. Servicing — The Company services loans out of its corporate office in San Diego, California. Properties of the loans serviced by the Company are disbursed throughout the United States and as of June 30, 2023 the Company serviced at least one loan in forty-nine different states. The servicing segment provides a steady stream of cash flow to support the origination segment and more importantly it allows for the Company to build long standing client relationships that drive repeat and referral business back to the origination segment to recapture the client’s next mortgage transaction. The servicing segment is primarily responsible for the servicing activities of all loans in the Company’s servicing portfolio, which includes, but is not limited to, collection and remittance of loan payments, managing borrower’s impound accounts for taxes and insurance, loan payoffs, loss mitigation and foreclosure activities. The Company does not allocate assets to its reportable segments as they are not included in the review performed by the Chief Operating Decision Maker for purposes of assessing segment performance and allocating resources. The balance sheet is managed on a consolidated basis and is not used in the context of segment reporting. The Company also does not allocate certain corporate expenses, which are represented by All Other in the tables below. The following table presents the financial performance and results by segment for the three months ended June 30, 2023: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 136,499 $ 426 $ 136,925 $ — $ 136,925 Gain on reverse mortgage loans held for investment 2,306 — 2,306 — 2,306 Loan servicing and other fees — 60,249 60,249 (38) 60,211 Valuation adjustment of mortgage servicing rights — 27,890 27,890 — 27,890 Interest income (expense) 1,331 10,266 11,597 (2,342) 9,255 Other income, net 168 49 217 7 224 Net revenue 140,304 98,880 239,184 (2,373) 236,811 Expenses Salaries, incentive compensation and benefits 127,024 7,495 134,519 10,384 144,903 General and administrative 15,061 2,240 17,301 3,147 20,448 Occupancy, equipment and communication 16,187 1,223 17,410 992 18,402 Depreciation and amortization 3,364 218 3,582 79 3,661 Reversal of foreclosure losses — (1,044) (1,044) — (1,044) Income tax expense — — — 13,505 13,505 Net (loss) income $ (21,332) $ 88,748 $ 67,416 $ (30,480) $ 36,936 The following table presents the financial performance and results by segment for the six months ended June 30, 2023: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 228,775 $ 801 $ 229,576 $ — $ 229,576 Gain on reverse mortgage loans held for investment 2,306 — 2,306 — 2,306 Loan servicing and other fees — 120,336 120,336 (38) 120,298 Valuation adjustment of mortgage servicing rights — (26,981) (26,981) — (26,981) Interest income (expense) 2,631 17,676 20,307 (5,069) 15,238 Other income, net 166 101 267 (8) 259 Net revenue 233,878 111,933 345,811 (5,115) 340,696 Expenses Salaries, incentive compensation and benefits 220,281 15,069 235,350 20,673 256,023 General and administrative 29,555 5,120 34,675 6,656 41,331 Occupancy, equipment and communication 31,361 2,481 33,842 1,990 35,832 Depreciation and amortization 6,763 360 7,123 276 7,399 Provision for foreclosure losses — 470 470 — 470 Income tax benefit — — — (100) (100) Net (loss) income $ (54,082) $ 88,433 $ 34,351 $ (34,610) $ (259) The following table presents the financial performance and results by segment for the three months ended June 30, 2022: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 206,445 $ 1,527 $ 207,972 $ — $ 207,972 Loan servicing and other fees — 54,595 54,595 — 54,595 Valuation adjustment of mortgage servicing rights — 21,074 21,074 — 21,074 Interest income (expense) 5,678 (358) 5,320 (1,446) 3,874 Other income, net (25) 56 31 (9) 22 Net revenue 212,098 76,894 288,992 (1,455) 287,537 Expenses Salaries, incentive compensation and benefits 165,133 7,509 172,642 5,550 178,192 General and administrative 1,460 2,254 3,714 2,657 6,371 Occupancy, equipment and communication 16,495 1,293 17,788 1,185 18,973 Depreciation and amortization 3,395 162 3,557 251 3,808 Provision for foreclosure losses — 1,796 1,796 — 1,796 Income tax expense — — — 20,108 20,108 Net income (loss) $ 25,615 $ 63,880 $ 89,495 $ (31,206) $ 58,289 The following table presents the financial performance and results by segment for the six months ended June 30, 2022: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 444,966 $ 5,645 $ 450,611 $ — $ 450,611 Loan servicing and other fees — 107,772 107,772 — 107,772 Valuation adjustment of mortgage servicing rights — 205,675 205,675 — 205,675 Interest income (expense) 12,795 (4,625) 8,170 (3,171) 4,999 Other income, net (25) 75 50 192 242 Net revenue 457,736 314,542 772,278 (2,979) 769,299 Expenses Salaries, incentive compensation and benefits 339,459 14,767 354,226 11,295 365,521 General and administrative (10,251) 4,922 (5,329) 6,070 741 Occupancy, equipment and communication 32,602 2,397 34,999 2,286 37,285 Depreciation and amortization 6,876 324 7,200 521 7,721 Provision for foreclosure losses — 1,475 1,475 — 1,475 Income tax expense — — — 90,294 90,294 Net income (loss) $ 89,050 $ 290,657 $ 379,707 $ (113,445) $ 266,262

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT O n August 2, 2023, the Company's Board of Directors declared a special cash dividend of $0.50 per share on its Class A and Class B common stock, payable on September 7, 2023, to stockholders of record on August 23, 2023.

BUSINESS, BASIS OF PRESENTATI_2

BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and in accordance with U.S. generally accepted accounting principles (“GAAP”) applicable to interim financial statements. These unaudited condensed consolidated financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results of the interim period. The condensed consolidated balance sheet data as of December 31, 2022 was derived from audited financial statements but does not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. The Company follows the same accounting policies for preparing quarterly and annual reports.
Principles of Consolidation	Principles of Consolidation The Company's condensed consolidated financial statements include the accounts of the Company, Guild Mortgage Company LLC ("GMC"), and their consolidated subsidiaries and those variable interest entities ("VIE") of which the Company is the primary beneficiary. Generally, a VIE is a legal entity in which the equity investors do not have the characteristics of a controlling financial interest or lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. In determining whether the Company is the primary beneficiary of a VIE, the Company considers qualitative and quantitative factors, including, but not limited to: which activities most significantly impact the VIE’s economic performance and which party controls such activities; the amount and characteristics of the Company's investment; the obligation or likelihood for the Company or other investors to provide financial support; and the similarity with and significance to the Company's business activities and the business activities of the other investors. The Company consolidates one VIE. At June 30, 2023, the VIE had immaterial assets and liabilities. All intercompany accounts and transactions have been eliminated in consolidation.
Investments in Joint Ventures	Investments in Joint Ventures The Company has investments in joint ventures involved in the mortgage lending business, which are included in other assets in the Condensed Consolidated Balance Sheets. The Company's investments in these joint ventures are accounted for under the equity method of accounting as the Company does not have a majority voting interest, operational control or financial control. As a result, the Company does not recognize the assets and liabilities of these joint ventures in its financial statements. The Company's share of the net earnings or losses of the investee are included in other income, net in the Condensed Consolidated Statements of Income (Loss).
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although management is not currently aware of any factors that would significantly change its estimates and assumptions, actual results could materially differ from those estimates.
Escrow and Fiduciary Funds	Escrow and Fiduciary FundsAs a loan servicer, the Company maintains segregated bank accounts in trust for investors and escrow balances for mortgagors, which are excluded from the Company’s Condensed Consolidated Balance Sheets.
Reverse Mortgage Loans Held for Investment	Reverse Mortgage Loans Held for Investment In April 2023, the Company acquired certain assets of Cherry Creek Mortgage, LLC ("CCM") (see Note 3 - Acquisitions), which expanded its range of services by offering reverse mortgages to its customers. Reverse mortgage loans are residential mortgage loans for which neither principal nor interest is due until the borrower dies, the home is sold, or other trigger events occur. Reverse mortgage loans can have either fixed interest rates or adjustable interest rates. In the case of most fixed-rate reverse mortgage loans, the borrower must draw the loan proceeds up front in one lump sum, while many adjustable-rate mortgage loans provide the borrower with a line of credit that can be drawn over time. The Company has elected to measure these loans at fair value, on a recurring basis, with c hanges in fair value recorded as a charge or credit to gain on reverse mortgage loans held for investment in the Condensed Consolidated Statements of Income (Loss). The reverse mortgage loan activity is included in the Company's origination segment. Upfront costs and fees related to reverse mortgage loans held for investment, including broker fees, are recognized in gain on reverse mortgage loans held for investment in the Condensed Consolidated Statements of Income (Loss) as incurred and are not capitalized.
Recent Accounting Standards	Recent Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), which provides temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. ASU 2020-04 generally considers contract modifications related to reference rate reform to be an event that does not require contract remeasurement at the modification date nor a reassessment of a previous accounting determination. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope , which clarifies that the practical expedients in ASU 2020-04 apply to derivatives impacted by changes in the interest rate used for margining, discounting, or contract price alignment. The guidance in ASU 2020-04 is optional and may be elected over time, through December 31, 2022, as reference rate reform activities occur. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , to extend the temporary accounting rules from December 31, 2022 to December 31, 2024. Once ASU 2020-04 is elected, the guidance must be applied prospectively for all eligible contract modifications. For contracts to which ASC Topic 470 , Debt applies, the Company has applied the optional expedients available from ASU 2020-04 and accounted for the contract modifications related to reference rate reform prospectively. The Company transitioned its funding facilities and financing facilities that utilized LIBOR as the reference rate to alternative reference rates prior to the LIBOR cessation date of June 30, 2023 and there was no material impact on the Company's consolidated financial statements.
Fair Value Measurements	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Inputs used to measure fair value are prioritized within a three-level fair value hierarchy. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The categorization of assets and liabilities measured at fair value within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The three levels of inputs used to measure fair value are as follows: • Level One - Level One inputs are unadjusted, quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level Two - Level Two inputs are observable for that asset or liability, either directly or indirectly, and include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, observable inputs for the asset or liability other than quoted prices and inputs derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified contractual term, the inputs must be observable for substantially the full term of the asset or liability. • Level Three - Level Three inputs are unobservable inputs for the asset or liability that reflect the Company’s assessment of the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, and are developed based on the best information available. The Company updates the valuation of each instrument recorded at fair value on a monthly or quarterly basis, evaluating all available observable information, which may include current market prices or bids, recent trade activity, changes in the levels of market activity and benchmarking of industry data. The assessment also includes consideration of identifying the valuation approach that would be used currently by market participants. If it is determined that a change in valuation technique or its application is appropriate, or if there are other changes in availability of observable data or market activity, the current methodology will be analyzed to determine if a transfer between levels of the valuation hierarchy is appropriate. Such reclassifications are reported as transfers into or out of a level as of the beginning of the quarter that the change occurs. Fair value is based on quoted market prices, when available. If quoted prices are not available, fair value is estimated based upon other observable inputs. Unobservable inputs are used when observable inputs are not available and are based upon judgments and assumptions, which are the Company’s assessment of the assumptions market participants would use in pricing the asset or liability. These inputs may include assumptions about risk, counterparty credit quality, the Company’s creditworthiness and liquidity and are developed based on the best information available. When a determination is made to classify an asset or liability within Level Three of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement of the asset or liability. The fair value of assets and liabilities classified within Level Three of the valuation hierarchy also typically includes observable factors and the realized or unrealized gain or loss recorded from the valuation of these instruments would also include amounts determined by observable factors. Recurring Fair Value Measurements The Company’s fair value measurements are evaluated within the fair value hierarchy, based on the nature of the inputs used to determine the fair value at the measurement date. At June 30, 2023 and December 31, 2022, the Company had the following assets and liabilities that are measured at fair value on a recurring basis: Trading Securities — Trading securities are classified within Level One of the valuation hierarchy. Valuation is based upon quoted prices for identical instruments traded in active markets. Level One trading securities include securities traded on active exchange markets, such as the New York Stock Exchange. Trading securities are included within other assets in the Condensed Consolidated Balance Sheets. Notes Receivable — Notes receivable are classified within Level Three of the valuation hierarchy as the Company's valuation includes significant unobservable inputs, including consideration of estimates of future earn-out payments, discount rates and expectations about settlement. Derivative Instruments — Derivative instruments are classified within Level Two and Level Three of the valuation hierarchy, and include the following: Interest Rate Lock Commitments — "IRLCs" are classified within Level Three of the valuation hierarchy. IRLCs represent an agreement to extend credit to a mortgage loan applicant, or an agreement to purchase a loan from a third-party originator, whereby the interest rate on the loan is set prior to funding. The fair value of IRLCs is based upon the estimated fair value of the underlying mortgage loan, including the expected net future cash flows related to servicing the mortgage loan, net of estimated incentive compensation expenses, and adjusted for: (i) estimated costs to complete and originate the loan and (ii) an adjustment to reflect the estimated percentage of IRLCs that will result in a closed mortgage loan under the original terms of the agreement (pull-through rate). The pull-through rate is considered a significant unobservable input and is estimated based on changes in pricing and actual borrower behavior using a historical analysis of loan closing and fallout data. The average pull-through rate used to calculate the fair value of IRLCs as of June 30, 2023 and December 31, 2022, was 85.4% and 93.4%, respectively. On a quarterly basis, actual loan pull-through rates are compared to the modeled estimates to confirm the assumptions are reflective of current trends. Generally, a change in interest rates is accompanied by a directionally opposite change in the assumption used for the pull-through percentage, and the impact to fair value of a change in pull-through would be partially offset by the related change in price. Forward Delivery Commitments — Forward delivery commitments are classified within Level Two of the valuation hierarchy. Forward delivery commitments fix the forward sales price that will be realized upon the sale of mortgage loans into the secondary market. The fair value of forward delivery commitments is primarily based upon the current agency mortgage-backed security market to-be-announced pricing specific to the loan program, delivery coupon and delivery date of the trade. Best efforts sales commitments are also entered into for certain loans at the time the borrower commitment is made. These best-efforts sales commitments are valued using the committed price to the counterparty against the current market price of the IRLC or mortgage loan held for sale. Option contracts are a type of forward commitment that represents the rights to buy or sell mortgage-backed securities at specified prices in the future. Their value is based upon the underlying current to-be-announced pricing of the agency mortgage-backed security market, and market-based volatility. See Note 6 for additional information on the derivative instruments. Mortgage Loans Held for Sale — "MLHS" are carried at fair value. The fair value of MLHS is based on secondary market pricing for loans with similar characteristics, and as such, is classified as a Level Two measurement. Fair value is estimated through a market approach by using either: (i) the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to servicing rights and credit risk, (ii) current commitments to purchase loans or (iii) recent observable market trades for similar loans, adjusted for credit risk and other individual loan characteristics. The agency mortgage-backed security market is a highly liquid and active secondary market for conforming conventional loans whereby quoted prices exist for securities at the pass-through level and are published on a regular basis. The Company has the ability to access this market and it is the market into which conforming mortgage loans are typically sold. Reverse Mortgage Loans Held for Investment — Reverse mortgage loans held for investment are carried at fair value and classified within Level Three of the valuation hierarchy. See Note 9 for additional information on the Company's reverse mortgage loans held for investment. Mortgage Servicing Rights — "MSRs" are classified within Level Three of the valuation hierarchy due to the use of significant unobservable inputs and the lack of an active market for such assets. The fair value of MSRs is estimated based upon projections of expected future cash flows considering prepayment estimates, the Company’s historical prepayment rates, portfolio characteristics, interest rates based on interest rate yield curves, implied volatility, costs to service and other economic factors. The Company obtains valuations from an independent third party on a monthly basis, and records an adjustment based on this third-party valuation. See Note 7 for additional information on the Company's MSRs. Investment in Warrants — The Company was a party to a joint marketing agreement with a private independent insurance carrier whereby the Company marketed their products and submitted leads for borrowers needing insurance. In connection with satisfying the conditions set forth under such agreement, the Company received warrants that may be exercised to purchase shares of common stock of the private company. The Company’s equity investment in the warrants is carried at its estimated fair value, which was determined using the price per share paid by an investor in an equity sale transaction completed by the private company, resulting in a Level Three classification. The warrants are exercisable until June 2025. The Company’s investment in the warrants will be revalued at each balance sheet date with changes in the fair value reported in other income, net in the Condensed Consolidated Statements of Income (Loss) each reporting period. The Company's investment in warrants is included within other assets in the Condensed Consolidated Balance Sheets. Contingent Liabilities due to acquisitions — Contingent liabilities represent future obligations of the Company to make payments to the former owners of its acquired companies. The Company determines the fair value of its contingent liabilities using a discounted cash flow approach whereby the Company forecasts the cash outflows related to the future payments, which are based on a percentage of net income specified in the purchase agreements. The Company then discounts these expected payment amounts to calculate the present value, or fair value, as of the valuation date. The Company’s management evaluates the underlying projections used in determining fair value each period and makes updates to these underlying projections.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2023: Description Level 1 Level 2 Level 3 Total Assets: Trading securities $ 84 $ — $ — $ 84 Notes receivable — — 9,824 9,824 Derivative Forward delivery commitments and best efforts sales commitments — 8,089 — 8,089 Interest rate lock commitments — — 5,613 5,613 Mortgage loans held for sale — 1,125,992 — 1,125,992 Reverse mortgage loans held for investment — — 36,709 36,709 Mortgage servicing rights — — 1,184,503 1,184,503 Investment in warrants — — 961 961 Total assets at fair value $ 84 $ 1,134,081 $ 1,237,610 $ 2,371,775 Liabilities: Contingent liabilities due to acquisitions $ — $ — $ 7,793 $ 7,793 Total liabilities at fair value $ — $ — $ 7,793 $ 7,793 The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2022: Description Level 1 Level 2 Level 3 Total Assets: Trading securities $ 96 $ — $ — $ 96 Derivative Forward delivery commitments — 1,602 — 1,602 Interest rate lock commitments — — 1,518 1,518 Mortgage loans held for sale — 845,775 — 845,775 Mortgage servicing rights — — 1,139,539 1,139,539 Investment in warrants — — 961 961 Total assets at fair value $ 96 $ 847,377 $ 1,142,018 $ 1,989,491 Liabilities: Derivative Forward delivery commitments and best efforts sales commitments $ — $ 5,173 $ — $ 5,173 Contingent liabilities due to acquisitions — — 526 526 Total liabilities at fair value $ — $ 5,173 $ 526 $ 5,699
Summary of Reconciliation of Level Three Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents a reconciliation of certain Level Three assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2023 and 2022: IRLCs Contingent Note Receivable Balance at March 31, 2023 $ 12,206 $ 2,218 $ 11,250 Net transfers and revaluation losses (6,593) — — Additions — 4,401 — Valuation adjustments — 1,174 (1,426) Balance at June 30, 2023 $ 5,613 $ 7,793 $ 9,824 Balance at December 31, 2022 $ 1,518 $ 526 $ — Net transfers and revaluation gains 4,095 — — Additions — 6,103 11,250 Valuation adjustments — 1,164 (1,426) Balance at June 30, 2023 $ 5,613 $ 7,793 $ 9,824 Balance at March 31, 2022 $ (11,851) $ 20,438 $ — Net transfers and revaluation losses 26,451 — — Payments — (2,370) — Valuation adjustments — (16,511) Balance at June 30, 2022 $ 14,600 $ 1,557 $ — Balance at December 31, 2021 $ 22,119 $ 59,500 $ — Net transfers and revaluation losses (7,519) — — Payments — (12,541) — Valuation adjustments — (45,402) Balance at June 30, 2022 $ 14,600 $ 1,557 $ —
Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis	The following table summarizes the Company’s financial assets and liabilities measured at fair value on a non-recurring basis at June 30, 2023: Description Level 1 Level 2 Level 3 Total Assets: Ginnie Mae loans subject to repurchase right $ — $ 598,634 $ — $ 598,634 Total assets at fair value $ — $ 598,634 $ — $ 598,634 Liabilities: Ginnie Mae loans subject to repurchase right $ — $ 598,879 $ — $ 598,879 Total liabilities at fair value $ — $ 598,879 $ — $ 598,879 The following table summarizes the Company’s financial assets and liabilities measured at fair value on a non-recurring basis at December 31, 2022: Description Level 1 Level 2 Level 3 Total Assets: Ginnie Mae loans subject to repurchase right $ — $ 650,179 $ — $ 650,179 Total assets at fair value $ — $ 650,179 $ — $ 650,179 Liabilities: Ginnie Mae loans subject to repurchase right $ — $ 650,179 $ — $ 650,179 Total liabilities at fair value $ — $ 650,179 $ — $ 650,179
Summary of Fair Value Option for Mortgage Loans Held For Sale	The following is the estimated fair value and UPB of MLHS that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option was elected for MLHS as the Company believes fair value best reflects their expected future economic performance: Fair Value Principal Difference (1) Balance at June 30, 2023 $ 1,125,992 $ 1,155,240 $ (29,248) Balance at December 31, 2022 $ 845,775 $ 868,833 $ (23,058) _______________________________ (1) Represents the amount of losses included in loan origination fees and gain on sale of loans, net due to changes in fair value of items accounted for using the fair value option.

ACCOUNTS, NOTES AND INTEREST _2

ACCOUNTS, NOTES AND INTEREST RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Accounts, Notes and Interest Receivable	Accounts, notes and interest receivable consisted of the following: June 30, 2023 December 31, 2022 Trust advances $ 25,045 $ 44,164 Foreclosure advances, net 13,792 12,320 Receivables related to loan sales 4,219 562 Notes receivable 9,844 — Accrued interest - notes receivable 313 — Other 11,822 1,258 Total accounts, notes and interest receivable $ 65,035 $ 58,304
Schedule of Activity of the Foreclosure Loss Reserve	The activity of the foreclosure loss reserve was as follows: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Balance — beginning of period $ 8,665 $ 10,271 $ 8,698 $ 10,355 Utilization of foreclosure reserve (962) (1,070) (2,509) (833) (Reversal of) provision for foreclosure losses (1,044) 1,796 470 1,475 Balance — end of period $ 6,659 $ 10,997 $ 6,659 $ 10,997

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2023
Other Assets [Abstract]
Summary of Other Assets	Other assets consisted of the following: June 30, 2023 December 31, 2022 Prepaid expenses $ 25,431 $ 31,499 Company owned life insurance 40,237 37,871 Property and equipment, net 13,750 12,118 Right-of-use assets 73,133 74,660 Income tax receivable 24,306 26,531 Real estate owned 1,472 306 Land 1,969 2,034 Trading securities 84 96 Investments in joint ventures, net 896 — Investment in warrants 961 961 Total other assets $ 182,239 $ 186,076
Summary of Property and Equipment	Property and equipment, net consisted of the following: June 30, 2023 December 31, 2022 Computer equipment $ 30,543 $ 29,447 Furniture and equipment 25,725 25,072 Leasehold improvements 19,624 18,713 Internal-use software in production 1,998 772 Internal-use software 11,448 10,357 Property and equipment, gross 89,338 84,361 Accumulated depreciation (75,588) (72,243) Property and equipment, net $ 13,750 $ 12,118

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Changes in Fair Value of Derivative Instruments	Changes in the fair value of the Company's derivative financial instruments are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Unrealized hedging gains (losses) $ 9,703 $ (46,957) $ 15,755 $ (6,924)
Schedule of Notional and Fair Value of Derivative Financial Instruments Not Designated as Hedging Instruments	The notional and fair value of derivative financial instruments not designated as hedging instruments were as follows at June 30, 2023 and December 31, 2022: Fair Value Notional Derivative Derivative Balance at June 30, 2023 IRLCs $ 1,338,917 $ 5,613 $ — Forward delivery commitments and best efforts sales commitments $ 1,621,954 $ 8,089 $ — Balance at December 31, 2022 IRLCs $ 810,514 $ 1,518 $ — Forward delivery commitments and best efforts sales commitments $ 1,127,154 $ 1,602 $ 5,173
Schedule of Quantitative Information About IRLCs and Fair Value Measurements	The following table presents the quantitative information about IRLCs and the fair value measurements: June 30, 2023 December 31, 2022 Unobservable Input Range (Weighted Average) Loan funding probability (“pull-through”) 0% -100% (85.4%) 0% - 100% (93.4%)
Schedule of Financial Liabilities that are Subject to Master Netting Arrangements or Similar Agreements Categorized by Financial Instrument	The table below represents financial assets and liabilities that are subject to master netting arrangements categorized by financial instrument: Gross Gross Net June 30, 2023 Forward delivery commitments and best efforts sales commitments $ 8,352 $ (263) $ 8,089 Total assets $ 8,352 $ (263) $ 8,089 December 31, 2022 Forward delivery commitments $ 1,887 $ (285) $ 1,602 Total assets $ 1,887 $ (285) $ 1,602 Forward delivery commitments and best efforts sales commitments $ (11,399) $ 4,959 $ (6,440) Margin calls 1,267 — 1,267 Total liabilities $ (10,132) $ 4,959 $ (5,173)
Schedule of Financial Assets that are Subject to Master Netting Arrangements or Similar Agreements Categorized by Financial Instrument	The table below represents financial assets and liabilities that are subject to master netting arrangements categorized by financial instrument: Gross Gross Net June 30, 2023 Forward delivery commitments and best efforts sales commitments $ 8,352 $ (263) $ 8,089 Total assets $ 8,352 $ (263) $ 8,089 December 31, 2022 Forward delivery commitments $ 1,887 $ (285) $ 1,602 Total assets $ 1,887 $ (285) $ 1,602 Forward delivery commitments and best efforts sales commitments $ (11,399) $ 4,959 $ (6,440) Margin calls 1,267 — 1,267 Total liabilities $ (10,132) $ 4,959 $ (5,173)

MORTGAGE SERVICING RIGHTS (Tabl

MORTGAGE SERVICING RIGHTS (Tables)	6 Months Ended
	Jun. 30, 2023
Transfers and Servicing [Abstract]
Summary of Activity of Mortgage Servicing Rights	The activity of mortgage servicing rights was as follows: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Balance — beginning of period $ 1,112,161 $ 937,556 $ 1,139,539 $ 675,340 MSRs originated 44,452 71,680 71,945 149,295 Changes in fair value: Due to collection/realization of cash flows (15,890) (25,827) (27,060) (50,721) Due to changes in valuation model inputs or assumptions 43,780 46,901 79 256,396 Balance — end of period $ 1,184,503 $ 1,030,310 $ 1,184,503 $ 1,030,310
Summary of Weighted Average Discount Rate, Prepayment Speed and Cost to Service Assumptions Used to Determine Fair Value of MSRs	The following table presents the weighted average discount rate, prepayment speed and cost to service assumptions used to determine the fair value of MSRs: June 30, 2023 December 31, 2022 Unobservable Input Range (Weighted Average) Discount rate 9.6% - 15.6% (10.7%) 9.6% - 15.7% (10.6%) Prepayment rate 6.5% - 27.6% (7.9%) 6.6% - 28.6% (7.5%) Cost to service (per loan) $72.0 - $273.4 ($91.8) $66.7 - $330.4 ($92.0)
Summary of Actual Revenue Generated from Servicing Activities	Actual revenue generated from servicing activities included contractually specified servicing fees, as well as late fees and other ancillary servicing revenue, which were recorded within loan servicing and other fees as follows for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Servicing fees from servicing portfolio $ 59,410 $ 53,368 $ 118,390 $ 104,932 Late fees 1,619 1,368 3,287 2,883 Other ancillary servicing revenue and fees (818) (141) (1,379) (43) Total loan servicing and other fees $ 60,211 $ 54,595 $ 120,298 $ 107,772
Summary of Impact of Adverse Changes on Prepayment Speeds, Discount Rate and Cost to Service at Two Different Data Points	The following table illustrates the impact of adverse changes on the prepayment speeds, discount rate and cost to service at two different data points at June 30, 2023 and December 31, 2022, respectively: Prepayment Speeds Discount Rate Cost to Service (per loan) 10% Adverse 20% Adverse 10% Adverse 20% Adverse 10% Adverse 20% Adverse June 30, 2023 Mortgage servicing rights $ (37,298) $ (72,947) $ (50,152) $ (96,983) $ (11,744) $ (23,777) December 31, 2022 Mortgage servicing rights $ (36,298) $ (70,878) $ (50,392) $ (96,848) $ (11,880) $ (24,162)

MORTGAGE LOANS HELD FOR SALE (T

MORTGAGE LOANS HELD FOR SALE (Tables)	6 Months Ended
	Jun. 30, 2023
Mortgage Loans Held For Sale [Abstract]
Summary of Reconciliation of Changes in Mortgage Loans Held for Sale to Amounts Presented in Condensed Consolidated Statements of Cash Flows	A reconciliation of the changes in mortgage loans held for sale to the amounts presented in the Condensed Consolidated Statements of Cash Flows is set forth below: Six Months Ended 2023 2022 Balance at the beginning of period $ 845,775 $ 2,204,216 Origination of mortgage loans held for sale 7,012,503 11,908,191 Proceeds on sale of and payments from mortgage loans held for sale (6,877,200) (13,168,952) Gain on sale of mortgage loans excluding fair value of other financial instruments, net 151,020 340,002 Valuation adjustment of mortgage loans held for sale (6,106) (33,648) Balance at the end of period $ 1,125,992 $ 1,249,809

REVERSE MORTGAGE LOANS HELD F_2

REVERSE MORTGAGE LOANS HELD FOR INVESTMENT (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Loans Held For Investment	Three and Six Months Ended Beginning balance $ — Originations 34,192 Additional funding 211 Fair value gain recognized in earnings (1) 2,306 Ending balance $ 36,709 Unsecuritized loans $ 36,709 Total $ 36,709 ______________________________ (1) See further breakdown in the table below Gain on Reverse Mortgage Loans Held for Investment Three and Six Months Ended Change in fair value of reverse mortgage loans held for investment $ 2,306 Fair value gain recognized in earnings 2,306 Gain on reverse mortgage loans held for investment $ 2,306

INVESTOR RESERVES (Tables)

INVESTOR RESERVES (Tables)	6 Months Ended
	Jun. 30, 2023
Investor Reserves [Abstract]
Schedule of Activity of Investor Reserves	The activity of the investor reserves was as follows: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Balance — beginning of period $ 16,671 $ 17,380 $ 16,094 $ 18,437 Benefit from investor reserves (1,423) (2,192) (2,748) (622) Provision for (relief from) investor reserves 3,116 1,731 5,018 (896) Balance — end of period $ 18,364 $ 16,919 $ 18,364 $ 16,919

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in the Carrying Amount of Goodwill Allocated to the Origination Segment	The changes in the carrying amount of goodwill allocated to the origination segment are presented in the following table: Balance at December 31, 2022 $ 176,769 Measurement period adjustments for Inlanta (1) 760 Goodwill acquired from Legacy (see Note 3) 4,621 Goodwill acquired from CCM (see Note 3) 2,744 Balance at June 30, 2023 $ 184,894 ______________________________ (1) During the three months ended March 31, 2023, the Company recorded measurement period adjustments which increased goodwill by $1.5 million for certain retention bonuses and decreased goodwill by $0.8 million for the partial return of the purchase price required within 90 days of the acquisition based on a provision in the asset purchase agreement related to the Company's acquisition of Inlanta Mortgage, Inc. during December 2022. These adjustments did not impact the Company's statements of income (loss).
Summary of Intangible Assets	The following table presents our intangible assets, net as of June 30, 2023: Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (Years) Referral network $ 42,300 $ 14,100 $ 28,200 3.8 Non-compete agreements 2,700 1,800 900 0.1 $ 45,000 $ 15,900 $ 29,100 3.8

WAREHOUSE LINES OF CREDIT (Tabl

WAREHOUSE LINES OF CREDIT (Tables)	6 Months Ended
	Jun. 30, 2023
Line of Credit Facility [Abstract]
Summary of Warehouse Lines of Credit	Warehouse lines of credit consisted of the following at June 30, 2023 and December 31, 2022. Changes subsequent to June 30, 2023 have been described in the notes referenced with the below table. Maturity as of June 30, June 30, 2023 December 31, 2022 $345 million master repurchase facility agreement (1) January 2024 $ 172,099 $ 47,565 $150 million master repurchase facility agreement (2) August 2023 87,082 10,848 $300 million master repurchase facility agreement (3) June 2024 201,382 189,512 $200 million master repurchase facility agreement (4) May 2024 103,055 110,605 $200 million master repurchase facility agreement (5) September 2023 96,035 16,131 $300 million master repurchase facility agreement (6) September 2023 165,315 81,353 $100 million master repurchase facility agreement (7) July 2023 5,371 56,237 $50 million master repurchase facility agreement (8) N/A 33,178 — $75 million master repurchase facility agreement (9) March 2025 36,362 40,096 $200 million master repurchase facility agreement (10) N/A 154,979 162,454 1,054,858 714,801 Prepaid commitment fees (1,798) (1,650) Net warehouse lines of credit $ 1,053,060 $ 713,151 ______________________________ (1) The variable interest rate is calculated using a base rate tied to SOFR. (2) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This line of credit requires a minimum deposit of $750,000. (3) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility requires a minimum deposit of $1.5 million. (4) The variable interest rate is calculated using a base rate plus SOFR, with a floor of 0.375% plus the applicable interest rate margin. (5) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.40%, plus the applicable interest rate margin. (6) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.50%, plus the applicable interest rate margin. (7) The variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.25%, plus the applicable interest rate margin. Subsequent to June 30, 2023, this facility was paid in full and terminated. (8) The variable interest rate is calculated using a base rate tied to SOFR, plus the applicable interest rate margin. This facility’s maturity date is 30 days from written notice by either the financial institution or the Company. (9) The interest rate on this facility is 3.375%. This facility is used for GNMA delinquent buyouts. Each buyout represents a separate transaction that can remain on the facility for up to four years. (10) This facility agreement is due on demand and the variable interest rate is calculated using a base rate tied to SOFR with a floor of 0.75%.

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of Minimum Calendar Year Payments of Term Note	The minimum calendar year payments of the Company’s term note as of June 30, 2023 are as follows: 2023 $ 12,500 2024 81,250 Total $ 93,750

STOCKHOLDERS' EQUITY AND EARN_2

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity and Earnings Per Share [Abstract]
Summary of Components of Basic and Diluted (Loss) Earnings Per Share	The following table sets forth the components of basic and diluted earnings (loss) per share: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Net income (loss) attributable to Guild $ 36,936 $ 58,272 $ (254) $ 266,230 Weighted-average shares outstanding, Class A Common Stock 20,629 20,731 20,598 20,727 Weighted-average shares outstanding, Class B Common Stock 40,333 40,333 40,333 40,333 Weighted-average shares outstanding - basic 60,962 61,064 60,931 61,060 Add dilutive effects of non-vested shares of restricted stock - Class A 839 586 — 719 Weighted-average shares outstanding - diluted 61,801 61,650 60,931 61,779 Basic earnings per share: Class A and Class B Common Stock $ 0.61 $ 0.95 $ — $ 4.36 Diluted earnings per share: Class A and Class B Common Stock $ 0.60 $ 0.95 $ — $ 4.31

SEGMENTS (Tables)

SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Summary of Financial Performance and Results by Segment	The following table presents the financial performance and results by segment for the three months ended June 30, 2023: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 136,499 $ 426 $ 136,925 $ — $ 136,925 Gain on reverse mortgage loans held for investment 2,306 — 2,306 — 2,306 Loan servicing and other fees — 60,249 60,249 (38) 60,211 Valuation adjustment of mortgage servicing rights — 27,890 27,890 — 27,890 Interest income (expense) 1,331 10,266 11,597 (2,342) 9,255 Other income, net 168 49 217 7 224 Net revenue 140,304 98,880 239,184 (2,373) 236,811 Expenses Salaries, incentive compensation and benefits 127,024 7,495 134,519 10,384 144,903 General and administrative 15,061 2,240 17,301 3,147 20,448 Occupancy, equipment and communication 16,187 1,223 17,410 992 18,402 Depreciation and amortization 3,364 218 3,582 79 3,661 Reversal of foreclosure losses — (1,044) (1,044) — (1,044) Income tax expense — — — 13,505 13,505 Net (loss) income $ (21,332) $ 88,748 $ 67,416 $ (30,480) $ 36,936 The following table presents the financial performance and results by segment for the six months ended June 30, 2023: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 228,775 $ 801 $ 229,576 $ — $ 229,576 Gain on reverse mortgage loans held for investment 2,306 — 2,306 — 2,306 Loan servicing and other fees — 120,336 120,336 (38) 120,298 Valuation adjustment of mortgage servicing rights — (26,981) (26,981) — (26,981) Interest income (expense) 2,631 17,676 20,307 (5,069) 15,238 Other income, net 166 101 267 (8) 259 Net revenue 233,878 111,933 345,811 (5,115) 340,696 Expenses Salaries, incentive compensation and benefits 220,281 15,069 235,350 20,673 256,023 General and administrative 29,555 5,120 34,675 6,656 41,331 Occupancy, equipment and communication 31,361 2,481 33,842 1,990 35,832 Depreciation and amortization 6,763 360 7,123 276 7,399 Provision for foreclosure losses — 470 470 — 470 Income tax benefit — — — (100) (100) Net (loss) income $ (54,082) $ 88,433 $ 34,351 $ (34,610) $ (259) The following table presents the financial performance and results by segment for the three months ended June 30, 2022: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 206,445 $ 1,527 $ 207,972 $ — $ 207,972 Loan servicing and other fees — 54,595 54,595 — 54,595 Valuation adjustment of mortgage servicing rights — 21,074 21,074 — 21,074 Interest income (expense) 5,678 (358) 5,320 (1,446) 3,874 Other income, net (25) 56 31 (9) 22 Net revenue 212,098 76,894 288,992 (1,455) 287,537 Expenses Salaries, incentive compensation and benefits 165,133 7,509 172,642 5,550 178,192 General and administrative 1,460 2,254 3,714 2,657 6,371 Occupancy, equipment and communication 16,495 1,293 17,788 1,185 18,973 Depreciation and amortization 3,395 162 3,557 251 3,808 Provision for foreclosure losses — 1,796 1,796 — 1,796 Income tax expense — — — 20,108 20,108 Net income (loss) $ 25,615 $ 63,880 $ 89,495 $ (31,206) $ 58,289 The following table presents the financial performance and results by segment for the six months ended June 30, 2022: Origination Servicing Total All Other Total Revenue Loan origination fees and gain on sale of loans, net $ 444,966 $ 5,645 $ 450,611 $ — $ 450,611 Loan servicing and other fees — 107,772 107,772 — 107,772 Valuation adjustment of mortgage servicing rights — 205,675 205,675 — 205,675 Interest income (expense) 12,795 (4,625) 8,170 (3,171) 4,999 Other income, net (25) 75 50 192 242 Net revenue 457,736 314,542 772,278 (2,979) 769,299 Expenses Salaries, incentive compensation and benefits 339,459 14,767 354,226 11,295 365,521 General and administrative (10,251) 4,922 (5,329) 6,070 741 Occupancy, equipment and communication 32,602 2,397 34,999 2,286 37,285 Depreciation and amortization 6,876 324 7,200 521 7,721 Provision for foreclosure losses — 1,475 1,475 — 1,475 Income tax expense — — — 90,294 90,294 Net income (loss) $ 89,050 $ 290,657 $ 379,707 $ (113,445) $ 266,262

BUSINESS, BASIS OF PRESENTATI_3

BUSINESS, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) entity	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Number of consolidated VIE | entity	1
Account balance in trust for investors and escrow balances for mortgagors | $	$ 899.2	$ 580.2

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details)	Jun. 30, 2023	Dec. 31, 2022
Weighted Average | Loan funding probability (“pull-through”) | IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan funding probability (“pull-through”)	0.854	0.934
Weighted Average | Loan funding probability (“pull-through”) | Recurring Fair Value Measurements | Level 3 | IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan funding probability (“pull-through”)	0.854	0.934
Minimum | Loan funding probability (“pull-through”) | IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan funding probability (“pull-through”)	0	0
Minimum | Discount Rate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range of risk adjusted discount rate	0.101	0.145
Maximum | Loan funding probability (“pull-through”) | IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan funding probability (“pull-through”)	1	1
Maximum | Discount Rate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range of risk adjusted discount rate	0.250	0.250
Median | Discount Rate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range of risk adjusted discount rate	0.250	0.150

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Assets:
Trading securities	$ 84	$ 96
Derivative
Derivative assets	13,702	3,120
Mortgage loans held for sale	1,125,992	845,775	$ 1,249,809	$ 2,204,216
Reverse mortgage loans held for investment	36,709	0
Mortgage servicing rights	1,184,503	1,139,539
Investment in warrants	961	961
Derivative
Forward delivery commitments and best efforts sales commitments	0	5,173
Contingent liabilities due to acquisitions	7,793	526
Recurring Fair Value Measurements
Assets:
Trading securities	84	96
Notes receivable	9,824
Derivative
Mortgage loans held for sale	1,125,992	845,775
Reverse mortgage loans held for investment	36,709
Mortgage servicing rights	1,184,503	1,139,539
Investment in warrants	961	961
Total assets at fair value	2,371,775	1,989,491
Derivative
Contingent liabilities due to acquisitions	7,793	526
Total liabilities at fair value	7,793	5,699
Recurring Fair Value Measurements | Forward delivery commitments and best efforts sales commitments
Derivative
Derivative assets	8,089
Derivative
Forward delivery commitments and best efforts sales commitments		5,173
Recurring Fair Value Measurements | Forward delivery commitments
Derivative
Derivative assets		1,602
Recurring Fair Value Measurements | Interest rate lock commitments
Derivative
Derivative assets	5,613	1,518
Recurring Fair Value Measurements | Level 1
Assets:
Trading securities	84	96
Notes receivable	0
Derivative
Mortgage loans held for sale	0	0
Reverse mortgage loans held for investment	0
Mortgage servicing rights	0	0
Investment in warrants	0	0
Total assets at fair value	84	96
Derivative
Contingent liabilities due to acquisitions	0	0
Total liabilities at fair value	0	0
Recurring Fair Value Measurements | Level 1 | Forward delivery commitments and best efforts sales commitments
Derivative
Derivative assets	0
Derivative
Forward delivery commitments and best efforts sales commitments		0
Recurring Fair Value Measurements | Level 1 | Forward delivery commitments
Derivative
Derivative assets		0
Recurring Fair Value Measurements | Level 1 | Interest rate lock commitments
Derivative
Derivative assets	0	0
Recurring Fair Value Measurements | Level 2
Assets:
Trading securities	0	0
Notes receivable	0
Derivative
Mortgage loans held for sale	1,125,992	845,775
Reverse mortgage loans held for investment	0
Mortgage servicing rights	0	0
Investment in warrants	0	0
Total assets at fair value	1,134,081	847,377
Derivative
Contingent liabilities due to acquisitions	0	0
Total liabilities at fair value	0	5,173
Recurring Fair Value Measurements | Level 2 | Forward delivery commitments and best efforts sales commitments
Derivative
Derivative assets	8,089
Derivative
Forward delivery commitments and best efforts sales commitments		5,173
Recurring Fair Value Measurements | Level 2 | Forward delivery commitments
Derivative
Derivative assets		1,602
Recurring Fair Value Measurements | Level 2 | Interest rate lock commitments
Derivative
Derivative assets	0	0
Recurring Fair Value Measurements | Level 3
Assets:
Trading securities	0	0
Notes receivable	9,824
Derivative
Mortgage loans held for sale	0	0
Reverse mortgage loans held for investment	36,709
Mortgage servicing rights	1,184,503	1,139,539
Investment in warrants	961	961
Total assets at fair value	1,237,610	1,142,018
Derivative
Contingent liabilities due to acquisitions	7,793	526
Total liabilities at fair value	7,793	526
Recurring Fair Value Measurements | Level 3 | Forward delivery commitments and best efforts sales commitments
Derivative
Derivative assets	0
Derivative
Forward delivery commitments and best efforts sales commitments		0
Recurring Fair Value Measurements | Level 3 | Forward delivery commitments
Derivative
Derivative assets		0
Recurring Fair Value Measurements | Level 3 | Interest rate lock commitments
Derivative
Derivative assets	$ 5,613	$ 1,518

FAIR VALUE MEASUREMENTS - Sum_2

FAIR VALUE MEASUREMENTS - Summary of Reconciliation of Level Three Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Contingent Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 2,218	$ 20,438	$ 526	$ 59,500
Additions	4,401		6,103
Payments		(2,370)		(12,541)
Valuation adjustments	1,174	(16,511)	1,164	(45,402)
Ending balance	7,793	1,557	7,793	1,557
IRLCs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	12,206	(11,851)	1,518	22,119
Net transfers and revaluation gains (losses)	(6,593)	26,451	4,095	(7,519)
Ending balance	5,613	14,600	5,613	14,600
Note Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	11,250	0	0	0
Additions			11,250
Valuation adjustments	(1,426)		(1,426)
Ending balance	$ 9,824	$ 0	$ 9,824	$ 0

FAIR VALUE MEASUREMENTS - Sum_3

FAIR VALUE MEASUREMENTS - Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis (Details) - Non-Recurring Fair Value Measurements - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Total assets at fair value	$ 598,634	$ 650,179
Liabilities:
Total liabilities at fair value	598,879	650,179
Ginnie Mae
Assets:
Total assets at fair value	598,634	650,179
Liabilities:
Total liabilities at fair value	598,879	650,179
Level 1
Assets:
Total assets at fair value	0	0
Liabilities:
Total liabilities at fair value	0	0
Level 1 | Ginnie Mae
Assets:
Total assets at fair value	0	0
Liabilities:
Total liabilities at fair value	0	0
Level 2
Assets:
Total assets at fair value	598,634	650,179
Liabilities:
Total liabilities at fair value	598,879	650,179
Level 2 | Ginnie Mae
Assets:
Total assets at fair value	598,634	650,179
Liabilities:
Total liabilities at fair value	598,879	650,179
Level 3
Assets:
Total assets at fair value	0	0
Liabilities:
Total liabilities at fair value	0	0
Level 3 | Ginnie Mae
Assets:
Total assets at fair value	0	0
Liabilities:
Total liabilities at fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sum_4

FAIR VALUE MEASUREMENTS - Summary of Fair Value Option for Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value	$ 1,125,992	$ 845,775	$ 1,249,809	$ 2,204,216
Principal Amount Due Upon Maturity	1,155,240	868,833
Difference	$ (29,248)	$ (23,058)

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	Apr. 03, 2023	Feb. 13, 2023	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Fair value of earn-out payments			$ 7,793	$ 526
Goodwill			$ 184,894	$ 176,769
Cherry Creek Mortgage, LLC
Business Acquisition [Line Items]
Total fair value of consideration transferred	$ 8,300
Payments to acquire businesses, gross	2,600
Fair value of contingent consideration	4,400
Issuance discount on note receivable	$ 1,300
Earn-out payments performance period	4 years
Net assets acquired	$ 5,600
Goodwill	$ 2,700
Legacy Mortgage, LLC
Business Acquisition [Line Items]
Total fair value of consideration transferred		$ 5,000
Payments to acquire businesses, gross		3,300
Fair value of contingent consideration		$ 1,700
Earn-out payments performance period		3 years
Fair value of earn-out payments		$ 1,700
Net assets acquired		400
Goodwill		$ 4,600

ACCOUNTS, NOTES AND INTEREST _3

ACCOUNTS, NOTES AND INTEREST RECEIVABLE - Schedule of Accounts , Notes and Interest Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Trust advances	$ 25,045	$ 44,164
Foreclosure advances, net	13,792	12,320
Receivables related to loan sales	4,219	562
Notes receivable	9,844	0
Accrued interest - notes receivable	313	0
Other	11,822	1,258
Total accounts, notes and interest receivable	$ 65,035	$ 58,304

ACCOUNTS, NOTES AND INTEREST _4

ACCOUNTS, NOTES AND INTEREST RECEIVABLE - Schedule of Activity of the Foreclosure Loss Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Foreclosure Loss Reserve [Abstract]
Balance — beginning of period	$ 8,665	$ 10,271	$ 8,698	$ 10,355
Utilization of foreclosure reserve	(962)	(1,070)	(2,509)	(833)
(Reversal of) provision for foreclosure losses	(1,044)	1,796	470	1,475
Balance — end of period	$ 6,659	$ 10,997	$ 6,659	$ 10,997

ACCOUNTS, NOTES AND INTEREST _5

ACCOUNTS, NOTES AND INTEREST RECEIVABLE - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Notes receivable		$ 9,844	$ 0
Cherry Creek Mortgage, LLC
Financing Receivable, Allowance for Credit Loss [Line Items]
Notes receivable	$ 11,300
Discount on note receivable	$ 1,300
Term of earn out payment	4 years
Percentage of interest payment allowed to be paid-in-kind	50%

OTHER ASSETS - Summary of Other

OTHER ASSETS - Summary of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Assets [Abstract]
Prepaid expenses	$ 25,431	$ 31,499
Company owned life insurance	40,237	37,871
Property and equipment, net	13,750	12,118
Right-of-use assets	73,133	74,660
Income tax receivable	24,306	26,531
Real estate owned	1,472	306
Land	1,969	2,034
Trading securities	84	96
Investments in joint ventures, net	896	0
Investment in warrants	961	961
Total other assets	$ 182,239	$ 186,076

OTHER ASSETS - Summary of Prope

OTHER ASSETS - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property Plant and Equipment [Line Items]
Property and equipment, gross	$ 89,338	$ 84,361
Accumulated depreciation	(75,588)	(72,243)
Property and equipment, net	13,750	12,118
Computer equipment
Property Plant and Equipment [Line Items]
Property and equipment, gross	30,543	29,447
Furniture and equipment
Property Plant and Equipment [Line Items]
Property and equipment, gross	25,725	25,072
Leasehold improvements
Property Plant and Equipment [Line Items]
Property and equipment, gross	19,624	18,713
Internal-use software in production
Property Plant and Equipment [Line Items]
Property and equipment, gross	1,998	772
Internal-use software
Property Plant and Equipment [Line Items]
Property and equipment, gross	$ 11,448	$ 10,357

OTHER ASSETS - Additional Infor

OTHER ASSETS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Assets [Abstract]
Depreciation and amortization	$ 1.7	$ 1.8	$ 3.4	$ 3.7

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Net Unrealized Hedging Gains (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized hedging gains (losses)			$ 15,755	$ (6,924)
Not Designated as Hedging Instruments | Loan Origination Fees and Gain on Sale of Loans, Net
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized hedging gains (losses)	$ 9,703	$ (46,957)	$ 15,755	$ (6,924)

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Notional and Fair Value of Derivative Financial Instruments Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
IRLCs
Derivative [Line Items]
Notional Value	$ 1,338,917	$ 810,514
Derivative Asset	5,613	1,518
Derivative Liability	0	0
Forward delivery commitments and best efforts sales commitments
Derivative [Line Items]
Notional Value	1,621,954	1,127,154
Derivative Asset	8,089	1,602
Derivative Liability	$ 0	$ 5,173

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding forward contracts and mandatory sell commitments	$ 273,700,000		$ 273,700,000		$ 256,300,000
Closed hedge instruments not yet settled	325,000,000		325,000,000		$ 470,800,000
Credit losses due to nonperformance of counterparties	$ 0	$ 0	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Quantitative Information About IRLCs and Fair Value Measurements (Details) - IRLCs - Loan funding probability (“pull-through”)	Jun. 30, 2023	Dec. 31, 2022
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan funding probability (“pull-through”)	0	0
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan funding probability (“pull-through”)	1	1
Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan funding probability (“pull-through”)	0.854	0.934

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Financial Liabilities are Subject to Master Netting Arrangements or Similar Agreements Categorized by Financial Instrument (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Net Amounts of Recognized Assets (Liabilities) in the Balance Sheet
Derivative assets	$ 13,702	$ 3,120
Derivative liabilities	0	(5,173)
Derivative Financial Instruments, Liabilities
Gross Amounts of Recognized Assets (Liabilities)
Derivative liabilities		(10,132)
Gross Amounts Offset in the Balance Sheet
Derivative liabilities		4,959
Net Amounts of Recognized Assets (Liabilities) in the Balance Sheet
Derivative liabilities		(5,173)
Derivative Financial Instruments, Assets
Gross Amounts of Recognized Assets (Liabilities)
Derivative assets	8,352	1,887
Gross Amounts Offset in the Balance Sheet
Derivative assets	(263)	(285)
Net Amounts of Recognized Assets (Liabilities) in the Balance Sheet
Derivative assets	8,089	1,602
Forward delivery commitments and best efforts sales commitments | Derivative Financial Instruments, Liabilities
Gross Amounts of Recognized Assets (Liabilities)
Derivative liabilities		(11,399)
Gross Amounts Offset in the Balance Sheet
Derivative liabilities		4,959
Net Amounts of Recognized Assets (Liabilities) in the Balance Sheet
Derivative liabilities		(6,440)
Forward delivery commitments and best efforts sales commitments | Derivative Financial Instruments, Assets
Gross Amounts of Recognized Assets (Liabilities)
Derivative assets	8,352
Gross Amounts Offset in the Balance Sheet
Derivative assets	(263)
Net Amounts of Recognized Assets (Liabilities) in the Balance Sheet
Derivative assets	$ 8,089
Forward delivery commitments | Derivative Financial Instruments, Assets
Gross Amounts of Recognized Assets (Liabilities)
Derivative assets		1,887
Gross Amounts Offset in the Balance Sheet
Derivative assets		(285)
Net Amounts of Recognized Assets (Liabilities) in the Balance Sheet
Derivative assets		1,602
Margin calls | Derivative Financial Instruments, Liabilities
Gross Amounts of Recognized Assets (Liabilities)
Derivative assets		1,267
Gross Amounts Offset in the Balance Sheet
Derivative assets		0
Net Amounts of Recognized Assets (Liabilities) in the Balance Sheet
Derivative assets		$ 1,267

MORTGAGE SERVICING RIGHTS - Sum

MORTGAGE SERVICING RIGHTS - Summary of Activity of Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Balance — beginning of period	$ 1,112,161	$ 937,556	$ 1,139,539	$ 675,340
MSRs originated	44,452	71,680	71,945	149,295
Changes in fair value:
Due to collection/realization of cash flows	(15,890)	(25,827)	(27,060)	(50,721)
Due to changes in valuation model inputs or assumptions	43,780	46,901	79	256,396
Balance — end of period	$ 1,184,503	$ 1,030,310	$ 1,184,503	$ 1,030,310

MORTGAGE SERVICING RIGHTS - S_2

MORTGAGE SERVICING RIGHTS - Summary of the Weighted Average Discount Rate, Prepayment Speed and Cost to Service Assumptions Used to Determine the Fair Value of MSRs (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Minimum
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	9.60%	9.60%
Prepayment rate	6.50%	6.60%
Cost to service (per loan)	$ 72	$ 66.7
Maximum
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	15.60%	15.70%
Prepayment rate	27.60%	28.60%
Cost to service (per loan)	$ 273.4	$ 330.4
Weighted Average
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	10.70%	10.60%
Prepayment rate	7.90%	7.50%
Cost to service (per loan)	$ 91.8	$ 92

MORTGAGE SERVICING RIGHTS - Add

MORTGAGE SERVICING RIGHTS - Additional Information (Details) - USD ($) $ in Billions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Transfers and Servicing [Abstract]
Mortgage servicing right weighted average life	8 years 3 months 18 days	8 years 6 months
Unpaid principal balance of mortgage loans serviced	$ 82	$ 78.9

MORTGAGE SERVICING RIGHTS - S_3

MORTGAGE SERVICING RIGHTS - Summary of Actual Revenue Generated from Servicing Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Transfers and Servicing [Abstract]
Servicing fees from servicing portfolio	$ 59,410	$ 53,368	$ 118,390	$ 104,932
Late fees	1,619	1,368	3,287	2,883
Other ancillary servicing revenue and fees	(818)	(141)	(1,379)	(43)
Loan servicing and other fees	$ 60,211	$ 54,595	$ 120,298	$ 107,772

MORTGAGE SERVICING RIGHTS - S_4

MORTGAGE SERVICING RIGHTS - Summary of Impact of Adverse Changes on Prepayment Speeds, Discount Rate and Cost to Service at Two Different Data Points (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Transfers and Servicing [Abstract]
Mortgage servicing rights, Prepayment Speeds, 10% Adverse Change	$ (37,298)	$ (36,298)
Mortgage servicing rights, Prepayment Speeds, 20% Adverse Change	(72,947)	(70,878)
Mortgage servicing rights, Discount Rates, 10% Adverse Change	(50,152)	(50,392)
Mortgage servicing rights, Discount Rates, 20% Adverse Change	(96,983)	(96,848)
Mortgage servicing rights, Cost to Service (per loan), 10% Adverse Change	(11,744)	(11,880)
Mortgage servicing rights, Cost to Service (per loan), 20% Adverse Change	$ (23,777)	$ (24,162)

MORTGAGE LOANS HELD FOR SALE -

MORTGAGE LOANS HELD FOR SALE - Summary of Reconciliation of Changes in Mortgage Loans Held for Sale to Amounts Presented in Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Mortgages Held For Sale [Roll Forward]
Balance at the beginning of period	$ 845,775	$ 2,204,216
Origination of mortgage loans held for sale	7,012,503	11,908,191
Proceeds on sale of and payments from mortgage loans held for sale	(6,877,200)	(13,168,952)
Gain on sale of mortgage loans excluding fair value of other financial instruments, net	151,020	340,002
Valuation adjustment of mortgage loans held for sale	(6,106)	(33,648)
Balance at the end of period	$ 1,125,992	$ 1,249,809

MORTGAGE LOANS HELD FOR SALE _2

MORTGAGE LOANS HELD FOR SALE - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Mortgage Loans Held For Sale [Abstract]
Mortgage loans held for sale unpaid principal balances of underlying loans	$ 1,155,240	$ 868,833
Mortgage loans held for sale	$ 1,125,992	$ 845,775	$ 1,249,809	$ 2,204,216

REVERSE MORTGAGE LOANS HELD F_3

REVERSE MORTGAGE LOANS HELD FOR INVESTMENT - Schedule of Loans Held For Investment (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Loans, Held For Investment, Reverse Mortgages [Roll Forward]
Beginning balance	$ 0	$ 0
Originations	34,192	34,192
Additional funding	211	211
Fair value gain recognized in earnings	2,306	2,306
Ending balance	36,709	36,709
Unsecuritized loans	36,709	36,709
Total	$ 36,709	$ 36,709

REVERSE MORTGAGE LOANS HELD F_4

REVERSE MORTGAGE LOANS HELD FOR INVESTMENT - Schedule of Gain on Reverse Mortgage Loans Held for Investment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Change in fair value of reverse mortgage loans held for investment	$ 2,306		$ 2,306
Fair value gain recognized in earnings	2,306		2,306
Gain on reverse mortgage loans held for investment	$ 2,306	$ 0	$ 2,306	$ 0

INVESTOR RESERVES (Details)

INVESTOR RESERVES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Investor Reserves [Roll Forward]
Balance — beginning of period	$ 16,671	$ 17,380	$ 16,094	$ 18,437
Benefit from investor reserves	(1,423)	(2,192)	(2,748)	(622)
Provision for (relief from) investor reserves	3,116	1,731	5,018	(896)
Balance — end of period	$ 18,364	$ 16,919	$ 18,364	$ 16,919

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Summary of Activity in Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 176,769	$ 176,769
Measurement period adjustments to goodwill		760	$ (1,710)
Goodwill, ending balance		184,894
Legacy Mortgage, LLC
Goodwill [Roll Forward]
Goodwill acquired		4,621
Cherry Creek Mortgage, Inc.
Goodwill [Roll Forward]
Goodwill acquired		$ 2,744
Retention Bonuses | Inlanta Mortgage Inc.
Goodwill [Roll Forward]
Measurement period adjustments to goodwill	1,500
Partial Return Of Purchase Price | Inlanta Mortgage Inc.
Goodwill [Roll Forward]
Measurement period adjustments to goodwill	$ (800)
Partial return of the purchase price, threshold period	90 days

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Intangibles	$ 45,000
Accumulated Amortization	15,900
Net Intangibles	$ 29,100	$ 33,075
Weighted Average Amortization Period (Years)	3 years 9 months 18 days
Referral network
Finite-Lived Intangible Assets [Line Items]
Gross Intangibles	$ 42,300
Accumulated Amortization	14,100
Net Intangibles	$ 28,200
Weighted Average Amortization Period (Years)	3 years 9 months 18 days
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Intangibles	$ 2,700
Accumulated Amortization	1,800
Net Intangibles	$ 900
Weighted Average Amortization Period (Years)	1 month 6 days

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 2	$ 2	$ 4	$ 4

WAREHOUSE LINES OF CREDIT - Sum

WAREHOUSE LINES OF CREDIT - Summary of Warehouse Lines of Credit (Details) - Warehouse Agreement Borrowings - Line of Credit - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Warehouse Lines of Credit [Line Items]
Warehouse lines of credit	$ 1,054,858,000	$ 714,801,000
Prepaid commitment fees	(1,798,000)	(1,650,000)
Total	1,053,060,000	713,151,000
Master Repurchase Facility Agreement, $345 Million, Due January 2024
Warehouse Lines of Credit [Line Items]
Borrowing capacity	345,000,000
Warehouse lines of credit	172,099,000	47,565,000
Master Repurchase Facility Agreement, $150 Million, Due August 2023
Warehouse Lines of Credit [Line Items]
Borrowing capacity	150,000,000
Warehouse lines of credit	87,082,000	10,848,000
Minimum deposit required for line of credit	750,000
Master Repurchase Facility Agreement, $300 Million, Due June 2024
Warehouse Lines of Credit [Line Items]
Borrowing capacity	300,000,000
Warehouse lines of credit	201,382,000	189,512,000
Minimum deposit required for line of credit	1,500,000
Master Repurchase Facility Agreement, $200 Million, Due May 2024
Warehouse Lines of Credit [Line Items]
Borrowing capacity	200,000,000
Warehouse lines of credit	$ 103,055,000	110,605,000
Master Repurchase Facility Agreement, $200 Million, Due May 2024 | SOFR
Warehouse Lines of Credit [Line Items]
Line of credit, floor interest rate	0.375%
Master Repurchase Facility Agreement, $200 Million, Due September 2023
Warehouse Lines of Credit [Line Items]
Borrowing capacity	$ 200,000,000
Warehouse lines of credit	$ 96,035,000	16,131,000
Master Repurchase Facility Agreement, $200 Million, Due September 2023 | SOFR
Warehouse Lines of Credit [Line Items]
Line of credit, floor interest rate	0.40%
Master Repurchase Facility Agreement, $300 Million, Due September 2023
Warehouse Lines of Credit [Line Items]
Borrowing capacity	$ 300,000,000
Warehouse lines of credit	$ 165,315,000	81,353,000
Master Repurchase Facility Agreement, $300 Million, Due September 2023 | SOFR
Warehouse Lines of Credit [Line Items]
Line of credit, floor interest rate	0.50%
Master Repurchase Facility Agreement, $100 Million, Due July 2023
Warehouse Lines of Credit [Line Items]
Borrowing capacity	$ 100,000,000
Warehouse lines of credit	$ 5,371,000	56,237,000
Master Repurchase Facility Agreement, $100 Million, Due July 2023 | SOFR
Warehouse Lines of Credit [Line Items]
Line of credit, floor interest rate	0.25%
Master Repurchase Facility Agreement, $50 Million. 30 Days From Written Notice
Warehouse Lines of Credit [Line Items]
Borrowing capacity	$ 50,000,000
Warehouse lines of credit	$ 33,178,000	0
Maturity, period from written notice	30 days
Master Repurchase Facility Agreement, $75 Million, Due March 2025
Warehouse Lines of Credit [Line Items]
Borrowing capacity	$ 75,000,000
Warehouse lines of credit	$ 36,362,000	40,096,000
Stated interest rate	3.375%
Maximum term of buyout transactions on facility	4 years
Master Repurchase Facility Agreement, $200 Million
Warehouse Lines of Credit [Line Items]
Borrowing capacity	$ 200,000,000
Warehouse lines of credit	$ 154,979,000	$ 162,454,000
Master Repurchase Facility Agreement, $200 Million | SOFR
Warehouse Lines of Credit [Line Items]
Line of credit, floor interest rate	0.75%

WAREHOUSE LINES OF CREDIT - Add

WAREHOUSE LINES OF CREDIT - Additional Information (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Warehouse Lines of Credit [Line Items]
Warehouse lines of credit	$ 1,053,060,000	$ 713,151,000
Line of Credit
Warehouse Lines of Credit [Line Items]
Warehouse lines of credit	$ 0	$ 0
Warehouse Agreement Borrowings | Line of Credit
Warehouse Lines of Credit [Line Items]
Weighted average interest rate	7.02%	3.31%
Cash balances	$ 6,900,000	$ 50,700,000

NOTES PAYABLE - Additional Info

NOTES PAYABLE - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Term Note
Debt Instrument [Line Items]
Current borrowing capacity	$ 125,000,000
Maximum borrowing capacity	175,000,000
Outstanding borrowings	$ 93,800,000	$ 106,300,000
Periodic payment, principal, percentage of outstanding balance	5%
Revolving Credit Facility | Government National Mortgage Association
Debt Instrument [Line Items]
Unused facility fee percentage	50%
Current borrowing capacity	$ 135,000,000
Maximum borrowing capacity	200,000,000
Outstanding borrowings	$ 0	20,000,000
Revolving Credit Facility | Federal Home Loan Mortgage Corporation
Debt Instrument [Line Items]
Unused facility fee percentage	35%
Maximum borrowing capacity	$ 100,000,000
Outstanding borrowings	$ 30,000,000	$ 0
SOFR | Revolving Credit Facility | Government National Mortgage Association
Debt Instrument [Line Items]
Line of credit, floor interest rate	0.50%
SOFR | Revolving Credit Facility | Federal Home Loan Mortgage Corporation
Debt Instrument [Line Items]
Line of credit, floor interest rate	0.50%
Federal Funds Rate | Term Note
Debt Instrument [Line Items]
Debt instrument variable rate	0.50%
Eurodollar Base Rate | Term Note
Debt Instrument [Line Items]
Debt instrument variable rate	1%

NOTES PAYABLE - Summary of Mini

NOTES PAYABLE - Summary of Minimum Calendar Year Payments of Term Note (Details) - Term Note $ in Thousands	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
2023	$ 12,500
2024	81,250
Total	$ 93,750

STOCKHOLDERS' EQUITY AND EARN_3

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE - Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Guild	$ 36,936	$ 58,272	$ (254)	$ 266,230
Weighted-average shares outstanding - basic (in shares)	60,962	61,064	60,931	61,060
Weighted-average shares outstanding - diluted (in shares)	61,801	61,650	60,931	61,779
Basic earnings per share:
Class A and Class B Common Stock (in dollars per share)	$ 0.61	$ 0.95	$ 0	$ 4.36
Diluted earnings per share:
Class A and Class B Common Stock (in dollars per share)	$ 0.60	$ 0.95	$ 0	$ 4.31
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted-average shares outstanding - basic (in shares)	20,629	20,731	20,598	20,727
Add dilutive effects of non-vested shares of restricted stock - Class A (in shares)	839	586	0	719
Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted-average shares outstanding - basic (in shares)	40,333	40,333	40,333	40,333

STOCKHOLDERS' EQUITY AND EARN_4

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE - Additional Information (Details) $ / shares in Units, $ in Millions		3 Months Ended			6 Months Ended
	May 05, 2022 USD ($)	Jun. 30, 2023 USD ($) class $ / shares shares	Mar. 31, 2023 shares	Jun. 30, 2022 shares	Jun. 30, 2023 USD ($) vote class $ / shares shares	Jun. 30, 2022 shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Number of shares excluded from calculation of earnings per share (in shares)		0		0	800,000	0
Number of classes of stock | class		2			2
Stock repurchase program, authorized amount | $	$ 20
Stock repurchase program, period in force	24 months
Average cost per share (in dollars per share) | $ / shares		$ 10.58			$ 10.88
Stock repurchase program, remaining authorized repurchase | $		$ 13.3			$ 13.3
Restricted Stock Units
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Right to receive common stock, upon vesting (in shares)					1
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, voting rights, votes per share | vote					1
Class A Common Stock | Common​ Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock repurchased and retired during period (in shares)		51,588	50,166	141,952	101,754
Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, voting rights, votes per share | vote					10

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - Restricted Stock Units - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation costs recognized	$ 2.3	$ 1.7	$ 4.1	$ 3
Income tax benefit related to stock-based compensation costs recognized	0.1	$ 0.3	0.4	$ 0.5
Unrecognized stock-based compensation costs	$ 15.7		$ 15.7
Unrecognized stock-based compensation expense, period for recognition	1 year 9 months 18 days

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Billions	Jun. 30, 2023	Dec. 31, 2022
Commitments To Originate Loans
Other Commitments [Line Items]
Commitments	$ 1.3	$ 0.8
Derivative Commitments
Other Commitments [Line Items]
Commitments	$ 1.6	$ 1.1

MINIMUM NET WORTH REQUIREMENTS

MINIMUM NET WORTH REQUIREMENTS (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Mortgage Banking [Abstract]
Minimum adjusted net worth balance required	$ 86,951

SEGMENTS - Additional Informati

SEGMENTS - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 segment loan state
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Servicing
Segment Reporting Information [Line Items]
Number of states in which entity operates | state	49
Minimum | Servicing
Segment Reporting Information [Line Items]
Number of loans serviced | loan	1

SEGMENTS - Summary of Financial

SEGMENTS - Summary of Financial Performance and Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Loan origination fees and gain on sale of loans, net	$ 136,925		$ 207,972		$ 229,576	$ 450,611
Gain on reverse mortgage loans held for investment	2,306				2,306
Loan servicing and other fees	60,211		54,595		120,298	107,772
Valuation adjustment of mortgage servicing rights	27,890		21,074		(26,981)	205,675
Interest income (expense)	9,255		3,874		15,238	4,999
Other income, net	224		22		259	242
Net revenue	236,811		287,537		340,696	769,299
Expenses
Salaries, incentive compensation and benefits	144,903		178,192		256,023	365,521
General and administrative	20,448		6,371		41,331	741
Occupancy, equipment and communication	18,402		18,973		35,832	37,285
Depreciation and amortization	3,661		3,808		7,399	7,721
Provision for (reversal of) foreclosure losses	(1,044)		1,796		470	1,475
Income tax expense (benefit)	13,505		20,108		(100)	90,294
Net income (loss)	36,936	$ (37,195)	58,289	$ 207,973	(259)	266,262
Operating Segments
Revenue
Loan origination fees and gain on sale of loans, net	136,925		207,972		229,576	450,611
Gain on reverse mortgage loans held for investment	2,306				2,306
Loan servicing and other fees	60,249		54,595		120,336	107,772
Valuation adjustment of mortgage servicing rights	27,890		21,074		(26,981)	205,675
Interest income (expense)	11,597		5,320		20,307	8,170
Other income, net	217		31		267	50
Net revenue	239,184		288,992		345,811	772,278
Expenses
Salaries, incentive compensation and benefits	134,519		172,642		235,350	354,226
General and administrative	17,301		3,714		34,675	(5,329)
Occupancy, equipment and communication	17,410		17,788		33,842	34,999
Depreciation and amortization	3,582		3,557		7,123	7,200
Provision for (reversal of) foreclosure losses	(1,044)		1,796		470	1,475
Income tax expense (benefit)	0		0		0	0
Net income (loss)	67,416		89,495		34,351	379,707
All Other
Revenue
Loan origination fees and gain on sale of loans, net	0		0		0	0
Gain on reverse mortgage loans held for investment	0				0
Loan servicing and other fees	(38)		0		(38)	0
Valuation adjustment of mortgage servicing rights	0		0		0	0
Interest income (expense)	(2,342)		(1,446)		(5,069)	(3,171)
Other income, net	7		(9)		(8)	192
Net revenue	(2,373)		(1,455)		(5,115)	(2,979)
Expenses
Salaries, incentive compensation and benefits	10,384		5,550		20,673	11,295
General and administrative	3,147		2,657		6,656	6,070
Occupancy, equipment and communication	992		1,185		1,990	2,286
Depreciation and amortization	79		251		276	521
Provision for (reversal of) foreclosure losses	0		0		0	0
Income tax expense (benefit)	13,505		20,108		(100)	90,294
Net income (loss)	(30,480)		(31,206)		(34,610)	(113,445)
Origination | Operating Segments
Revenue
Loan origination fees and gain on sale of loans, net	136,499		206,445		228,775	444,966
Gain on reverse mortgage loans held for investment	2,306				2,306
Loan servicing and other fees	0		0		0	0
Valuation adjustment of mortgage servicing rights	0		0		0	0
Interest income (expense)	1,331		5,678		2,631	12,795
Other income, net	168		(25)		166	(25)
Net revenue	140,304		212,098		233,878	457,736
Expenses
Salaries, incentive compensation and benefits	127,024		165,133		220,281	339,459
General and administrative	15,061		1,460		29,555	(10,251)
Occupancy, equipment and communication	16,187		16,495		31,361	32,602
Depreciation and amortization	3,364		3,395		6,763	6,876
Provision for (reversal of) foreclosure losses	0		0		0	0
Income tax expense (benefit)	0		0		0	0
Net income (loss)	(21,332)		25,615		(54,082)	89,050
Servicing | Operating Segments
Revenue
Loan origination fees and gain on sale of loans, net	426		1,527		801	5,645
Gain on reverse mortgage loans held for investment	0				0
Loan servicing and other fees	60,249		54,595		120,336	107,772
Valuation adjustment of mortgage servicing rights	27,890		21,074		(26,981)	205,675
Interest income (expense)	10,266		(358)		17,676	(4,625)
Other income, net	49		56		101	75
Net revenue	98,880		76,894		111,933	314,542
Expenses
Salaries, incentive compensation and benefits	7,495		7,509		15,069	14,767
General and administrative	2,240		2,254		5,120	4,922
Occupancy, equipment and communication	1,223		1,293		2,481	2,397
Depreciation and amortization	218		162		360	324
Provision for (reversal of) foreclosure losses	(1,044)		1,796		470	1,475
Income tax expense (benefit)	0		0		0	0
Net income (loss)	$ 88,748		$ 63,880		$ 88,433	$ 290,657

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent Event	Aug. 02, 2023 $ / shares
Class A Common Stock
Subsequent Event [Line Items]
Common stock dividends (in dollars per share)	$ 0.50
Class B Common Stock
Subsequent Event [Line Items]
Common stock dividends (in dollars per share)	$ 0.50