Guild Mortgage Investments reported a $723,000 net...
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Guild Mortgage Investments reported a $723,000 net profit for the third quarter but also said the upcoming sale of certain loans will generate a fourth-quarter net loss “not in excess of $700,000,” according to Michael S. Eustis, president.
The loans are being sold to “reduce interest rate exposure” created by rising interest rates, according to Eustis.
The loan sale “should not affect earnings for the next fiscal year” at the San Diego mortgage investment firm, Eustis said.
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