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Walker & Dunlop extends JPMorgan repo facility to 2027

Walker & Dunlop extended the termination date of its JPMorgan repurchase facility to September 9, 2027 and refreshed related fee and pricing terms via a new side letter.

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Walker & Dunlop, Inc. (WD) entered into Amendment No. 9 to its Master Repurchase Agreement with JPMorgan Chase Bank, N.A. on September 9, 2026. The amendment extends the agreement’s Termination Date to September 9, 2027, and the company continues to guarantee the obligations of its operating subsidiary, Walker & Dunlop, LLC.

A Third Amended and Restated Side Letter dated September 9, 2026 supplements the repurchase agreement, setting forth related fees, commitments and pricing information and replacing the prior Second Amended and Restated Side Letter dated September 11, 2025. JPMorgan Chase Bank, N.A. and its affiliates also provide other financial services, including another credit facility and investment banking, to Walker & Dunlop and its affiliates.

Positive

  • None.

Negative

  • None.

Filing Explained

Certain portions of Exhibits 10.1 and 10.2 are redacted under Item 601(b)(10)(iv), so the public filing does not disclose all fees, commitments, and pricing for the repurchase agreement extended to September 9, 2027.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Amendment date September 9, 2026 Date of Amendment No. 9 to the Master Repurchase Agreement
Termination Date September 9, 2027 Extended Termination Date under the Master Repurchase Agreement
Side Letter date September 9, 2026 Date of Third Amended and Restated Side Letter supplementing the repurchase agreement
Prior Side Letter date September 11, 2025 Date of Second Amended and Restated Side Letter that was amended and restated
Original Master Repurchase Agreement date August 26, 2019 Initial date of the Master Repurchase Agreement later amended nine times
Master Repurchase Agreement financial
"entered into Amendment No. 9 to Master Repurchase Agreement with JPMorgan"
A master repurchase agreement is a standardized legal contract that governs repurchase (repo) transactions, where one party sells a security to another with a promise to buy it back later at a set price. Think of it like a short-term, collateralized loan or pawning an item: the security reduces the lender’s risk and the agreement sets the rules, including margin and default procedures. Investors care because these deals affect market liquidity, short-term funding costs and counterparty risk, which can influence asset prices and a firm’s ability to borrow.
Termination Date financial
"extend the Termination Date (as defined in the Repurchase Agreement) to September 9, 2027"
Termination date is the specific calendar day when a contract, agreement, option or other legal arrangement stops being in effect and any remaining rights or obligations expire. For investors it matters because that date sets deadlines for exercising rights, receiving payments, closing positions or avoiding penalties—similar to the day a lease or warranty ends, after which parties no longer have the same protections or claims.
Side Letter financial
"Third Amended and Restated Side Letter (the “Side Letter”), dated as of September 9, 2026"
off-Balance Sheet Arrangement financial
"Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement"
An off-balance sheet arrangement is a financial commitment or asset that a company keeps out of its main financial statements so it does not show up as a direct asset or liability. Think of it like renting equipment or using a separate storage locker instead of putting the item in your home: the economic effects exist, but they aren’t listed on the company’s primary balance sheet. Investors care because these arrangements can hide risks, obligations or sources of cash flow that affect a company’s true financial strength and future performance.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What agreement did Walker & Dunlop (WD) amend on September 9, 2026?
Walker & Dunlop amended its Master Repurchase Agreement with JPMorgan Chase Bank, N.A. through Amendment No. 9, dated September 9, 2026. The operating subsidiary, Walker & Dunlop, LLC, is the seller under the agreement, and the parent company remains a guarantor of the obligations.

How did the amendment affect the Walker & Dunlop (WD) repurchase facility term?
The amendment extended the facility’s Termination Date to September 9, 2027. This change lengthens the period during which the Master Repurchase Agreement among Walker & Dunlop, Inc., Walker & Dunlop, LLC and JPMorgan Chase Bank, N.A. remains in effect, subject to its existing terms.

Does Walker & Dunlop (WD) continue to guarantee obligations under the repurchase agreement?
Yes. Walker & Dunlop, Inc. continues to guarantee the obligations of its operating subsidiary, Walker & Dunlop, LLC, under the Master Repurchase Agreement as amended. The Form 8-K states that the company’s guarantee remains in place following Amendment No. 9.

What other relationships does JPMorgan have with Walker & Dunlop (WD)?
JPMorgan Chase Bank, N.A. and its affiliates have various relationships with Walker & Dunlop and its affiliates, including another credit facility where the company is a borrower and the provision of investment banking services, in addition to acting as buyer under the Master Repurchase Agreement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false 0001497770 0001497770 2026-09-09 2026-09-09 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 9, 2026

 

Walker & Dunlop, Inc.

(Exact name of registrant as specified in its charter)

 

Maryland   001-35000   80-0629925

(State or other jurisdiction of
incorporation)

   (Commission File Number)   (IRS Employer Identification No.)

 

7272 Wisconsin Avenue
Suite 1300

Bethesda, MD

   20814

(Address of principal executive offices)

   (Zip Code)

 

Registrant’s telephone number, including area code: (301) 215-5500

 

Not applicable

(Former name or former address if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol Name of each exchange on which
registered
Common Stock, Par Value $0.01 WD New York Stock Exchange

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

¨ Emerging growth company

 

¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 1.01. Entry into a Material Definitive Agreement.

 

On September 9, 2026, Walker & Dunlop, Inc. (the “Company”) and Walker & Dunlop, LLC, the operating subsidiary of the Company (the “Seller”), entered into Amendment No. 9 to Master Repurchase Agreement (the “Amendment”) with JPMorgan Chase Bank, N.A. (the “Buyer”). The Amendment amends that certain Master Repurchase Agreement, dated as of August 26, 2019 (as amended by the First Amendment, dated as of August 24, 2020, Amendment No. 2, dated as of August 23, 2021, Amendment No. 3 to Master Repurchase Agreement, dated as of September 30, 2021, Amendment No. 4 to Master Repurchase Agreement, dated as of September 15, 2022, Amendment No. 5 to Master Repurchase Agreement, dated as of December 29, 2022, Amendment No. 6 to Master Repurchase Agreement, dated as of September 12, 2023, Amendment No. 7 to Master Repurchase Agreement, dated as of September 12, 2024, and Amendment No. 8 to the Master Repurchase Agreement, dated as of September 11, 2025, the “Repurchase Agreement”), by and among the Company, the Seller, and the Buyer to, among other things, extend the Termination Date (as defined in the Repurchase Agreement) to September 9, 2027. The Company continues to guarantee the Seller’s obligations under the Repurchase Agreement, as amended by the Amendment.

 

The Repurchase Agreement is supplemented by a Third Amended and Restated Side Letter (the “Side Letter”), dated as of September 9, 2026, which sets forth certain fees, commitments and pricing information relating to the Repurchase Agreement. The Side Letter amends and restates that certain Second Amended and Restated Side Letter, dated as of September 11, 2025.

 

The foregoing description of the Amendment and Side Letter does not purport to be complete and is qualified in its entirety by reference to the Amendment and Side Letter, which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K.

 

The Buyer and its affiliates have various relationships with the Company and its affiliates involving the provision of financial services, including another credit facility under which the Company is a borrower and investment banking.

 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

 

Item 9.01. Financial Statements and Exhibits.

 

Exhibit Number Description
10.1* Amendment No. 9 to Master Repurchase Agreement, dated as of September 9, 2026, by and among Walker & Dunlop, LLC, Walker & Dunlop, Inc., and JPMorgan Chase Bank, N.A.
10.2* Third Amended and Restated Side Letter, dated as of September 9, 2026, by and among Walker & Dunlop, LLC, Walker & Dunlop, Inc., and JPMorgan Chase Bank, N.A.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

* Certain portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. The Company agrees to furnish supplementally an unredacted copy of the exhibit to the Commission upon its request. 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

WALKER & DUNLOP, INC.

(Registrant)

     
Date: September 15, 2026 By: /s/ Gregory A. Florkowski
   

Name: Gregory A. Florkowski

Title: Executive Vice President and Chief Financial Officer

 

 

 

Source: View Original Filing on SEC EDGAR

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