This is why Fannie and Freddie mortgage initiatives won't work

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
W S
Lending / The Ticker

Walker & Dunlop profit boosted by servicing fees

/ Print / Reprints /
| Share More
/ Text Size+

Walker & Dunlop (WD) announced a third quarter 2013 revenues of $73.7 million, a 5% increase from $70.1 million in the third quarter 2012.

Revenue growth was primarily driven by a 72% increase in servicing fees.

"Walker & Dunlop's third quarter loan origination volumes did not meet expectations due to our two largest lending partners, Fannie Mae and Freddie Mac, reducing their origination volumes by 40% year over year to comply with FHFA's 2013 lending caps. As well, HUD ran out of commitment authority in mid-September. Yet even in a quarter where our three largest lending partners struggled, Walker & Dunlop originated $1.8 billion of loans, saw revenues increase by 5%, achieved 142% growth in our Capital Markets business, and originated $101 million of new loans for our balance sheet, up 657% from the prior year," stated Willy Walker, Walker & Dunlop's Chairman and Chief Executive Officer. "Our $39 billion servicing portfolio showed its value, producing $23 million in revenue or 31% of our total revenue for the quarter.

Recent Articles by Brena Swanson

Comments powered by Disqus