Walker & Dunlop Stock Price, News & Analysis

Walker & Dunlop, Inc. (NYSE: WD) is a commercial real estate finance and advisory services firm operating in the finance and insurance sector, within the "other activities related to credit intermediation" industry. According to company disclosures and regulatory filings, Walker & Dunlop conducts its business through Walker & Dunlop, LLC, its operating subsidiary, and its common stock is listed on the New York Stock Exchange under the symbol WD. The company is incorporated in Maryland and is based in Bethesda, Maryland.

Walker & Dunlop is described in its public materials as one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Its stated purpose is to use ideas and capital to help create communities where people live, work, shop, and play. The firm emphasizes the role of its people, the breadth of its brand, and its technological capabilities in serving clients in the commercial real estate industry.

Core business and activities

Based on information from Polygon and company communications, Walker & Dunlop is a commercial real estate finance company that originates, sells, and services multifamily and other commercial real estate financing products. Many of these products are sold under programs of Freddie Mac, Fannie Mae, Ginnie Mae, and the Federal Housing Administration. The company reports that a significant portion of its revenue comes from gains from mortgage banking activities and servicing fees, reflecting its role in arranging and servicing real estate loans.

Walker & Dunlop manages its operations through three reportable segments: Capital Markets (CM), Servicing & Asset Management (SAM), and Corporate. The Capital Markets segment is involved in arranging financing for commercial real estate assets, while the Servicing & Asset Management segment focuses on ongoing servicing and management of loan portfolios. The Corporate segment encompasses corporate-level functions that support the operating businesses. The company indicates that it conducts business solely in the United States, while also describing itself as operating in the United States and internationally in its public "About" statement.

Capital markets and advisory capabilities

Walker & Dunlop frequently highlights its Capital Markets Institutional Advisory practice in its news releases. This group arranges financing for a wide range of commercial real estate assets, including multifamily properties, mixed-use developments, hotels, and office and retail properties. Recent transactions described by the company include arranging loans for hotel refinancings, mixed-use office and retail properties, office-to-residential conversions, and large-scale multifamily and mixed-income developments.

The firm’s Capital Markets team works with non-agency capital providers and institutional lenders. Company communications state that this team has sourced substantial volumes of capital from non-agency providers and has acted as an advisor on financings across asset classes for developers, owners, and operators. These activities illustrate Walker & Dunlop’s role as an intermediary between real estate owners and institutional capital sources.

Servicing, asset management, and valuation

In addition to originating and arranging financing, Walker & Dunlop is involved in servicing and asset management through its Servicing & Asset Management segment. The company earns servicing fees by managing loans over their life, in line with its description that a majority of revenue is generated from mortgage banking activities and servicing fees.

Walker & Dunlop has also launched Apprise by Walker & Dunlop, a platform focused on valuation and data analytics for commercial real estate, with an emphasis on multifamily assets. Apprise operates exclusively in the U.S. market and reports a track record of valuing a large volume of commercial real estate properties. The platform serves clients that include government-sponsored enterprise (GSE) lenders, owners and operators, banks, and institutional lenders, and provides valuation insights, data analytics, and regulatory-compliant appraisals and consulting engagements for multifamily and commercial assets. Apprise has also formed a national HUD/FHA multifamily valuation and market study practice group, reflecting a focus on HUD-insured multifamily valuation and market studies.

Affordable housing and specialized financing

Walker & Dunlop describes an Affordable Housing platform that brings together specialists to provide solutions for clients pursuing affordable housing objectives. According to company statements, this platform has the expertise to provide debt and Low-Income Housing Tax Credit (LIHTC) equity financing, investment sales, and advisory services for affordable multifamily properties.

The company has also announced a strategic joint venture, Walker & Dunlop Affordable Bridge Capital, with Pretium. This joint venture is designed to originate flexible, short-term first-mortgage bridge loans for affordable multifamily properties that are being acquired, refinanced, or prepared for long-term government-affordable programs such as LIHTC, Section 8, or tax-exempt bonds. The stated purpose of this venture is to address financing gaps for affordable housing and support projects that will ultimately access agency and HUD programs for permanent financing.

Geographic focus and markets served

Walker & Dunlop states that it conducts business in the United States, and its transaction announcements highlight activity in multiple U.S. markets, including major metropolitan areas such as New York City, Miami, Cambridge (Massachusetts), and Newark (New Jersey). Through its Capital Markets Institutional Advisory practice and other business lines, the company works on financings and sales in markets with significant commercial and multifamily real estate activity.

Apprise by Walker & Dunlop focuses exclusively on the U.S. market for valuation and consulting work. Its team has experience with assignments across numerous states and serves a client base that includes GSE lenders, owners and operators, banks, and institutional lenders. This reinforces Walker & Dunlop’s focus on U.S. commercial real estate finance, valuation, and advisory work.

Regulatory status and stock information

Walker & Dunlop, Inc. files reports with the U.S. Securities and Exchange Commission (SEC) as a registrant incorporated in Maryland. Its common stock, with a par value of $0.01 per share, is registered under Section 12(b) of the Securities Exchange Act of 1934 and trades on the New York Stock Exchange under the symbol WD. Recent Form 8-K filings confirm the company’s ongoing reporting status and reference press releases about financial results, material agreements, and governance matters.

The company has entered into various financing arrangements, including a Master Repurchase Agreement and related side letters with JPMorgan Chase Bank, N.A., which provide for repurchase facilities used in its financing activities. Amendments to these agreements, as disclosed in Form 8-K filings, adjust facility amounts and other terms, indicating an active use of secured financing structures in the company’s operations.

Corporate governance and board

Walker & Dunlop’s SEC filings describe a board of directors that includes independent directors who meet New York Stock Exchange independence standards and SEC requirements for audit committee service. For example, the company has disclosed the election of an additional independent director who qualifies as an audit committee financial expert and serves on the Audit and Risk Committee. The company also uses equity-based compensation, including performance stock units, for senior executives under its equity incentive plan, aligning compensation with shareholder returns over multi-year performance periods.

Position within the commercial real estate finance industry

In its public "About" statements, Walker & Dunlop characterizes itself as one of the largest commercial real estate finance and advisory services firms in the United States and internationally. It emphasizes its role in providing capital and advisory services that support the development, acquisition, refinancing, and repositioning of commercial and multifamily properties. The firm’s activities span capital markets advisory, loan origination and sales, loan servicing and asset management, valuation and consulting, and specialized affordable housing finance.

By working with agencies such as Freddie Mac, Fannie Mae, Ginnie Mae, and the Federal Housing Administration, as well as with non-agency capital providers and institutional investors, Walker & Dunlop participates in multiple channels of commercial real estate finance. Its focus on multifamily and other commercial assets, along with its dedicated platforms for valuation and affordable housing, reflects a broad engagement with the U.S. commercial real estate market.

FAQs about Walker & Dunlop (WD)

• What does Walker & Dunlop, Inc. do?
  Walker & Dunlop is a commercial real estate finance and advisory services firm. It originates, sells, and services multifamily and other commercial real estate financing products, many of which are sold under programs of Freddie Mac, Fannie Mae, Ginnie Mae, and the Federal Housing Administration. The company also provides capital markets advisory, servicing and asset management, valuation, and consulting services.
• How does Walker & Dunlop generate revenue?
  According to information provided through Polygon, Walker & Dunlop generates a majority of its total revenue from gains from mortgage banking activities and servicing fees. This reflects its role in arranging real estate financing and servicing loans over time.
• What are Walker & Dunlop’s main business segments?
  Walker & Dunlop reports three primary segments: Capital Markets (CM), Servicing & Asset Management (SAM), and Corporate. Capital Markets focuses on arranging financing, Servicing & Asset Management handles loan servicing and asset management activities, and the Corporate segment includes corporate-level functions that support the operating businesses.
• Where does Walker & Dunlop operate?
  The company conducts business in the United States and describes itself as one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Its Apprise platform focuses exclusively on the U.S. market, and recent transactions highlighted by the company involve properties in U.S. cities such as New York, Miami, Cambridge, and Newark.
• What is Apprise by Walker & Dunlop?
  Apprise by Walker & Dunlop is a valuation and data analytics platform launched by Walker & Dunlop. It focuses on the U.S. market and has a track record of valuing commercial real estate properties. Apprise serves clients including GSE lenders, owners and operators, banks, and institutional lenders, providing valuation insights, data analytics, regulatory-compliant appraisals, and consulting engagements for multifamily and commercial assets. It has also established a national HUD/FHA multifamily valuation and market study practice group.
• How is Walker & Dunlop involved in affordable housing?
  Walker & Dunlop describes an Affordable Housing platform that brings together specialists to help clients achieve affordable housing objectives. The platform can provide debt and LIHTC equity financing, investment sales, and advisory services. In addition, Walker & Dunlop has formed Walker & Dunlop Affordable Bridge Capital, a joint venture with Pretium that originates flexible, short-term first-mortgage bridge loans for affordable multifamily properties that are being acquired, refinanced, or prepared for long-term government-affordable programs such as LIHTC, Section 8, or tax-exempt bonds.
• On which exchange does Walker & Dunlop trade and what is its ticker symbol?
  Walker & Dunlop’s common stock is listed on the New York Stock Exchange under the ticker symbol WD. Its common stock has a par value of $0.01 per share, as disclosed in SEC filings.
• What type of regulatory filings does Walker & Dunlop submit?
  Walker & Dunlop files periodic and current reports with the U.S. Securities and Exchange Commission, including Form 8-K filings that report material events such as financial results, amendments to financing agreements, board changes, and executive compensation awards. These filings provide details about the company’s financial condition, governance, and significant transactions.
• How does Walker & Dunlop use repurchase facilities in its business?
  SEC filings describe a Master Repurchase Agreement and related side letters between Walker & Dunlop entities and JPMorgan Chase Bank, N.A. These agreements set out facility amounts, fees, commitments, and pricing information for repurchase transactions. Amendments to these agreements have adjusted facility amounts and extended termination dates, indicating that repurchase facilities are part of the company’s financing arrangements.
• Is Walker & Dunlop active in both financing and property sales?
  Company news releases indicate that Walker & Dunlop’s Capital Markets group arranges both financing and, in some cases, property sales for multifamily and mixed-use assets. For example, it has arranged the sale and financing of mixed-use multifamily properties and structured comprehensive financing packages for large mixed-income developments, illustrating its role across multiple aspects of commercial real estate capital markets.