Its servicing segment was the main driver of the results, with the firm posting a net loss of $4.6 million, compared to net income of $152.4 million the previous quarter. Valuation adjustments to the company's mortgage servicing rights totaled a loss of $70 million, down from a gain of $84.3 million in the prior three-month period, the firm's earnings show.

Guild's origination segment also reported a net loss of $2.9 million, compared to a net income of $0.8 million the prior quarter. Though the firm's gain-on sale margins grew to 376 basis points, up from 317 basis points.

Terry Schmidt, CEO of Guild Mortgage, said the results "highlight…consistent momentum and [a] balanced business model."

"This strong performance is the result of the successful execution of our strategy to opportunistically increase market share during volatile markets, and a commitment to the purchase-driven retail mortgage business," she said in a statement. 

"While we expect markets to remain volatile moving forward, we will prudently manage costs and believe there will be additional opportunities for Guild to gain market share," she added.

The mortgage lender originated $5.2 billion in loans during the first quarter, down from $6.7 billion the quarter prior. This time last year, Guild's originations totaled $3.9 billion.Total expenses for the firm amounted to $230 million in the first quarter, a slight dip from $244 million the quarter prior, but significantly higher than $193 million reported this time last year.During the company's earnings call, Schmidt dismissed concerns about how Rocket Mortgage's recent acquisitions of Mr. Cooper and Redfin might impact business, emphasizing that Guild is focused on "local fulfillment and sales specific to purchase business."

"We still have such a big gap in the purchase business," she added. "Our studies imply that a customer at the local level still has a good need for that, that local presence and expertise."Regarding acquisitions, something Guild has been an active participant in, Schmidt said the firm is "always talking to a lot of suitors."

"It's a long process and sometimes we're talking to people for six months to two years," she said. "We're constantly looking and vetting and getting to know people and making sure that we make the right decision along the way. There's still a lot across the country that we can conquer, and so we're going to continue to work on growing the market share."