The bank's second quarter production revenue was down 32% from the first quarter, even as volume increased 4%.

The company is looking to sell 20 million shares, with a 3 million underwriters' option, at between $16 and $18 per share.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

Premiums written increased 45%, while net operating income was up over 65%, the American Land Title Association said.

The company plans on trading on the New York Stock Exchange under the ticker symbol BLND

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

The company, on the cusp of going public via a merger, recently added Wells Fargo to its client roster.

The newly public company expects a 20% overall loss in adjusted earnings this year.

Guild announced the $196.7 million acquisition after reporting that it more than doubled its net income in the first quarter, compared to the last three months of 2020.

Despite a 1Q decline in origination volume, Chairman Mat Ishbia is optimistic for the second quarter, saying the company received 17,000 more submissions in April's higher interest rate environment than it had in February.