Guild Mortgage Lists First Two ‘Making Paradise Home’ Initiative Houses Available for Purchase

Rhea-AI Summary

Guild Mortgage (GHLD) Completes First Two Homes in Making Paradise Home Initiative, Offering Affordable, Sustainable Housing Options for Paradise, California

Insights

Financial Analyst

The completion and listing of the first two homes under Guild Mortgage's Making Paradise Home Initiative represent a strategic investment in the reconstruction of Paradise, California, post the 2018 Camp Fire. From a financial perspective, this initiative could potentially diversify Guild Mortgage's revenue streams and enhance its corporate social responsibility profile. The focus on affordable, sustainable manufactured housing taps into a growing market segment conscious of both price and environmental impact.

Investors should consider the scalability of such initiatives and their contribution to the company's overall financial health. While the immediate revenue impact may be limited due to the scale of the project, the long-term implications for brand loyalty and market positioning in a niche segment could be beneficial. It's also worth noting how these efforts might influence the company's risk profile, given the inherent risks of real estate development, such as market demand fluctuations and construction costs.

Market Research Analyst

The Making Paradise Home Initiative by Guild Mortgage aligns with broader market trends where there is an increasing demand for affordable and sustainable housing solutions. The initiative could potentially capture a significant share of the market in regions affected by natural disasters. By addressing the need for sustainable development, Guild Mortgage is positioning itself as a forward-thinking player in the mortgage lending and real estate development industry.

It is crucial to evaluate customer response to these newly developed housing options and how they stand against competitors in terms of pricing, sustainability features and overall value proposition. The company's ability to leverage this initiative to strengthen its brand and attract a new customer base will be a key factor to monitor for long-term market impact.

Sustainability Expert

Introducing sustainable manufactured housing options, as Guild Mortgage has done, is indicative of the company's commitment to environmental stewardship and social responsibility. The use of sustainable materials and practices in construction not only benefits the environment but also offers potential long-term cost savings for homeowners through energy efficiency and durability.

Assessing the environmental impact of these homes, including their carbon footprint and resource efficiency, will be important for understanding the full scope of their sustainability. This initiative could serve as a model for other companies in the housing sector, potentially driving industry-wide shifts towards more sustainable practices.

Multi-home Initiative Designed to Make Homeownership Attainable for Paradise Residents Features Development of Affordable, Sustainable Manufactured Housing Options to Benefit Community Devastated by 2018 Camp Fire

SAN DIEGO--(BUSINESS WIRE)-- Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, announced the first two homes from its Making Paradise Home Initiative are completed and listed for sale. The affordable, sustainable manufactured homes are available for sale in Paradise, California, the community hardest hit by the deadliest and most destructive wildfire in the state’s history.

In January 2023, Guild announced its Making Paradise Home Initiative in partnership with Clayton Homes, Golden West Homes of Chico and Redline Installation to build four CrossMod™ Homes to help educate residents about the benefits of manufactured housing, while helping to rebuild the community.

Since the initiative’s launch, two homes are now listed and available for sale. Both brand new CrossMod homes – located at 6249 Fern Lane and 5931 Debbie Lane in Paradise California – boast beautiful curb appeal, high-end quality and energy efficiency throughout. The homes sit on quiet lanes with circular driveways on over half an acre, each. Both 1,620-square-foot, three bedroom and two full bathroom homes feature a modern design including high ceilings; oversized windows; covered front porches; two-car garages; stylish fireplaces in the living rooms; quartz or granite kitchen countertops; shaker cabinets; farm-style sinks; large islands with seating; and farmhouse laminate flooring throughout. As CrossMod homes, buyers are eligible for unique financing with as little as a 3% down payment.

Through the Making Paradise Home Initiative, Guild will sell the homes to aspiring homeowners and qualified borrowers. The initiative’s third home is nearing completion and additional homes are planned to be built over the next year. At least one of the initiative’s CrossMod homes will remain open for educational tours.

“Making Paradise Home is about more than just disaster recovery, we’re working to close the homeownership gap by making homeownership more attainable and accessible,” said David Battany, executive vice president of capital markets. “While we’re using this initiative to help rebuild a community devastated by fire and to ensure Paradise residents can settle down and feel at home again, we will continue to educate and promote affordable homeownership not just in Paradise, but from coast to coast.”

A CrossMod home is a new classification of a HUD-code manufactured home. CrossMods offer the affordability of a traditional manufactured home but are built to higher standards and come with the style and array of amenities found in a traditional site-built home. CrossMod homes have the same or better curb appeal as site-built homes and are energy efficient.

Guild Mortgage provides extensive manufactured home financing options, and is dedicated to finding mortgage solutions for residents, which can include fixed-rate loans with credit scores starting as low as 540 and programs with low and no down payments.

Headquartered in San Diego, Guild Mortgage is a leading national lender with an established history of offering a comprehensive array of loan products and partnering with government organizations to help deliver the promise of home in every neighborhood and community. Its loan professionals can serve the needs of any homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers looking for a jumbo loan. Guild also helps active duty and retired military personnel who qualify for VA loans with 100% financing and flexible qualifying standards. The company is consistently recognized for its impact in the communities it serves, commitment to customer service, strength in regulatory compliance, and workplace culture.

About Guild Mortgage

Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Company is a nationally recognized independent mortgage lender providing residential mortgage products and local in-house origination and servicing. Guild’s collaborative culture and commitment to diversity and inclusion enable it to deliver a personalized experience for each customer. With more than 4,000 employees and over 250 retail branches, Guild has relationships with credit unions, community banks, and other financial institutions and services loans in 49 states and the District of Columbia. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized loan programs. Guild Mortgage Company is a wholly owned subsidiary of Guild Holdings Company, whose shares of Class A common stock trade on the New York Stock Exchange under the symbol GHLD.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231228030214/en/

Melissa Rue

Nuffer, Smith, Tucker

mkr@nstpr.com

(619) 296-0605 ext. 247

Source: Guild Mortgage

FAQ

What is Guild Mortgage's ticker symbol?

Guild Mortgage's ticker symbol is GHLD.

What is the Making Paradise Home Initiative?

The Making Paradise Home Initiative is a project by Guild Mortgage to develop affordable, sustainable manufactured housing options for the community of Paradise, California, which was devastated by the 2018 Camp Fire.

Where are the homes from the Making Paradise Home Initiative available for sale?

The affordable, sustainable manufactured homes from the Making Paradise Home Initiative are available for sale in Paradise, California.

When were the first two homes from the Making Paradise Home Initiative completed and listed for sale?

The first two homes from the Making Paradise Home Initiative were completed and listed for sale in January 2023.