Welcome to our dedicated page for Walker & Dunlop SEC filings (Ticker: WD), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Walker & Dunlop, Inc. SEC filings document a NYSE-listed commercial real estate finance company whose common stock trades under WD. Its 8-K filings include quarterly and annual operating results, transaction volume, revenues, mortgage banking activity, servicing portfolio disclosures, and furnished press-release exhibits for financial results.
The company's regulatory documents also cover proxy governance, annual meeting matters, executive compensation disclosures, and capital-structure records. Material-event filings describe financing arrangements used by Walker & Dunlop and its operating subsidiary, Walker & Dunlop, LLC, including amendments to warehousing credit and security agreements and master repurchase agreements that support its commercial real estate lending and mortgage banking operations.
Walker & Dunlop, Inc. entered into a Seventeenth Amendment to its Second Amended and Restated Warehousing Credit and Security Agreement with PNC Bank. The amendment extends the facility’s maturity to March 1, 2027, decreases the Bulge Commitment Fee, and adds short-term borrowing flexibility.
From March 2, 2026 until May 1, 2026, the borrower may request a one-time advance of up to $2,500,000,000, called the Limited Bulge Increase. Upon disbursement, the Warehousing Credit Limit rises by that amount, subject to the Limited Bulge Credit Limit, until that date or a shorter period set by PNC. Walker & Dunlop continues to guarantee the borrower’s obligations under the warehousing facility.
Walker & Dunlop director Donna Wells reported an open-market purchase of 500 shares of common stock at $46.96 per share on March 3, 2026. Following this transaction, she directly owns 5,277 common shares of the company.
Walker & Dunlop Chairman and CEO William M. Walker reported an open-market purchase of 10,000 shares of the company’s common stock. The shares were bought on March 2, 2026 at a weighted average price of $47.4632 per share, across multiple trades between $47.19 and $47.68.
After this purchase, Walker directly owns 488,948.192 shares of Walker & Dunlop common stock. The filing also lists additional indirect holdings through Walker Family Holdings LLC and as custodian for three sons, which reflect ownership structure rather than new transactions.
Walker & Dunlop, Inc. is a U.S. commercial real estate services, finance, and technology company operating through Capital Markets, Servicing & Asset Management, and Corporate segments. It originates, sells, and services multifamily and commercial loans, primarily through Fannie Mae, Freddie Mac, and HUD programs, and also provides property sales, investment management, LIHTC syndication, and appraisal services.
The company set 2025 goals of $2,000,000 thousand in revenues, $60,000,000 thousand in debt financing volume, and other scale milestones, but macro headwinds from inflation, higher rates, and tighter liquidity slowed transaction activity. In 2025 it generated revenues of $1,234,306 thousand, debt financing volume of $41,483,695 thousand, property sales volume of $13,349,892 thousand, a servicing portfolio unpaid principal balance of $143,978,153 thousand, and assets under management of $18,631,100 thousand.
Walker & Dunlop shares risk on Fannie Mae DUS loans, with an at-risk balance of $68.6 billion and pledged collateral of $225.0 million as of December 31, 2025, supported by a $37.5 million allowance for risk-sharing obligations. Risk factors highlight dependence on Agency relationships and warehouse facilities, exposure to loan defaults, repurchase and indemnification obligations, and sensitivity to multifamily market and interest rate conditions. The company also emphasizes human capital investment, reporting 1,466 employees, 7% voluntary turnover, and structured talent and engagement programs.
Walker & Dunlop reported mixed fourth-quarter and full-year 2025 results. Q4 2025 revenue was $340,024,000, but the company posted a diluted loss per share of $0.41 as adjusted EBITDA fell to $38,755,000. Results included $66,200,000 of expenses tied to planned 2026 asset sales and indemnified and repurchased loans.
Capital Markets activity accelerated, with Q4 total transaction volume up 36% year over year to $18,330,350,000 and full-year total transaction volume up 37% to $54,833,587,000. The servicing portfolio reached $143,978,153,000, supporting recurring fee income.
For 2025, revenue rose to $1,234,306,000 while net income declined to $56,247,000 and diluted EPS to $1.64, with operating margin at 6%. The board declared a first-quarter 2026 dividend of $0.68 per share and authorized a new $75,000,000 share repurchase program.
Walker & Dunlop EVP & CFO Gregory Florkowski reported multiple equity awards and a related tax share disposition. On February 13, 2026, he acquired 5,492 Deferred Stock Units, each representing one share of common stock, which are fully vested and will be settled in shares under the company’s deferred stock plan.
He also received 2,746 Restricted Stock Units, vesting in three equal annual installments beginning on February 15, 2027, and 12,124 shares of common stock as a grant, all at a stated price of $0.00 per share. On the same date, 2,883 shares of common stock were disposed of at $61.86 per share to satisfy tax withholding obligations, leaving him with 37,862.107 directly owned common shares.
Walker & Dunlop, Inc. Chairman and CEO William M. Walker reported a stock award and a related tax-withholding share disposition. He received a grant of 48,496 shares of common stock at a stated price of $0.00 per share, increasing his direct holdings before tax withholding. According to the footnote, this restricted stock vests in three equal annual installments beginning on February 15, 2027.
To cover tax obligations, 9,940 shares of common stock were disposed of at $61.86 per share through a tax-withholding transaction, leaving Walker with 478,948.192 directly held shares afterward. The filing also lists indirect holdings, including 540,147 shares held by Walker Family Holdings LLC and 3,955 shares held as custodian for each of three sons.
Walker & Dunlop, Inc. Executive Vice President and Chief Operating Officer Stephen P. Theobald reported equity compensation activity in company common stock. He received a grant of 16,973 shares of restricted stock at a stated price of $0.00 per share, which vest in three equal annual installments beginning on February 15, 2027. To cover tax obligations, 3,273 shares were disposed of at a price of $61.86 per share through a tax-withholding transaction, rather than an open-market sale. Following these transactions, he directly owned 81,551.137 common shares and indirectly held 38,219 shares through a family LLC.
Walker & Dunlop EVP and Chief HR Officer Paula A. Pryor reported new equity awards and related tax withholding transactions. On February 13, 2026, she acquired 2,405 Deferred Stock Units, 1,202 Restricted Stock Units, and 8,082 shares of Common Stock as grants at a stated price of $0.0000 per share.
Each deferred and restricted stock unit represents the right to receive one share of common stock. The deferred stock units are fully vested and will be settled in shares under the company’s Management Deferred Stock Unit Purchase Plan. The restricted stock vests in three equal annual installments beginning on February 15, 2027. On the same date, 2,169 shares of common stock were disposed of at $61.86 per share to satisfy tax liabilities, leaving her with 15,253.558 shares of common stock directly owned.
Walker & Dunlop executive Daniel J. Groman, EVP, General Counsel, Secretary and Chief Compliance Officer, reported multiple equity awards and a tax-related share disposition. He acquired 6,466 deferred stock units, 3,233 restricted stock units, and 8,082 shares of common stock on February 13, 2026, all at a stated price of $0.00 per share as grant or award acquisitions.
The restricted stock vests in three equal annual installments beginning on February 15, 2027. Each deferred stock unit and each restricted stock unit represents the right to receive one share of Walker & Dunlop common stock, with settlement timing determined under the company’s Management Deferred Stock Unit Purchase Plan. To cover tax obligations, 1,471 shares of common stock were disposed of at $61.86 per share, leaving him with 22,305.266 common shares held directly after the transactions.