Walker & Dunlop Inc Stock Price, News & Analysis

Walker & Dunlop has expanded its multifamily property sales team in Nashville, hiring four new members, including Managing Director Robbie O'Bryan. The team will enhance property sales and capital raising efforts in Nashville and surrounding markets. Collectively, they have significant experience in multifamily marketing, having been involved in the sale of over 150 assets worth over $1.5 billion. The company aims to grow its annual sales volume to between $8 billion and $10 billion by the end of 2020, continuing its trajectory of growth since 2018.

Walker & Dunlop's servicing portfolio reached $100.8 billion as of July 31, 2020, an increase driven by strong loan originations and limited payoffs. This milestone supports the company's Vision 2020 strategy, targeting $1 billion in annual revenue by year-end 2020. The portfolio includes over 7,300 loans with a weighted average servicing fee of 23.3 bps and a remaining average life of 9.5 years. Over 85% of fees are prepayment protected, ensuring stable revenue. Walker & Dunlop ranks as the 8th largest commercial mortgage servicer in the U.S.

Walker & Dunlop has secured $16,408,000 in financing for three skilled nursing facilities in Colorado, assisting Madison Creek Partners. The facilities include Pioneer Health Care Center, Paonia Care & Rehabilitation, and Glenwood Springs Health Care, with flexible financing options provided through HUD's LEAN program aimed at long-term care facilities. The financing will refinance prior debts and fund improvements. Walker & Dunlop ranked as the 3rd largest HUD lender in 2019, closing over $94 million in senior housing transactions.

Walker & Dunlop reported a record total revenue of $252.8 million in Q2 2020, a 26% increase year-over-year. The net income rose 47% to $62.1 million, with diluted EPS at $1.95. Despite a 2% decline in total transaction volume to $7.1 billion, debt financing volume rose 8%. The servicing portfolio grew to $100 billion, up 11% year-over-year. A dividend of $0.36 per share was declared for Q3. The company emphasized its strong position in multifamily financing amidst ongoing economic challenges.

Walker & Dunlop arranged $8,000,000 in financing for Pointe Red Hill, a 51,065 sq. ft. office building in Tustin, California. The loan features a ten-year fixed rate with limited personal guarantees, allowing for refinancing and property improvements. The financing was provided by Symetra Life Insurance Company and closed during the COVID-19 pandemic, highlighting the strength of Walker & Dunlop’s network. The company completed $3.3 billion in life insurance financing in 2019 and services over $9 billion for its correspondents.

Walker & Dunlop has appointed Jared Sobel as Managing Director in its New York office, focusing on the multifamily small loans group. Sobel brings extensive experience in multifamily financing and has a successful track record with the Freddie Mac Optigo and Fannie Mae small loan programs. His arrival is expected to drive growth in Walker & Dunlop's multifamily business. The company ranks as a top lender in the multifamily space, processing over $1.5 billion in small loans since 2016.

Walker & Dunlop has announced that its multifamily small loans team, WDExpress, is now an approved Freddie Mac Optigo^® Small Balance Lender. This designation allows them to originate loans ranging from $1 million to $7.5 million for properties with at least five units. The Freddie Mac SBL program aims to provide affordable housing financing, offering non-recourse loans and lower closing costs. Walker & Dunlop, a leader in multifamily lending, aims to streamline the lending process and enhance its service offerings in the small balance multifamily market.

Walker & Dunlop announced $23,020,000 in permanent financing for The Reveal, a 150-unit affordable housing project in Eastern New Orleans. The development utilizes four percent Low Income Housing Tax Credits with Project-Based Vouchers from the Housing Authority of New Orleans. Set in an opportunity zone, the project aims to revitalize an area affected by Hurricane Katrina. The financing was facilitated through a partnership with Freddie Mac, Sterling Bank, and National Equity Fund. Completion will include two four-story buildings, community amenities, and a Business Incubator.

Walker & Dunlop has appointed Nicole Urquhart-Bradley as COO and Managing Director of its multifamily appraisal business, Apprise. With over 30 years of experience, she previously held senior roles at Bowery Valuation and Cushman & Wakefield. Urquhart-Bradley will collaborate with Apprise's Valuation Lead to enhance the firm's appraisal activities, focusing on innovation and market insights. Apprise leverages data analytics to provide quick and compliant multifamily appraisals, aiming for nationwide coverage by year-end 2020 and has completed appraisals totaling over $70 billion.