Walker & Dunlop recorded the best quarter in its history for the second quarter 2016.
The company hit $5.4 billion in transaction volume, its first time to reach over $5 billion. This pushed the total revenue to $148 million, an increase of 30% from the second quarter last year.
The revenue increase also pushed up diluted earnings per share to $1.05, an increase of 57% over the second quarter last year. This represents a net income of $32 million.
Gains from mortgage banking activities for the second quarter came in at $102.5 million, a 46% increase from last year’s $70 million. The company attributes the gains to an increase in origination volume as well as a significant increase in lending volume with Fannie Mae.
Gains from mortgage servicing rights increased 72% to $55.6 million from last year’s $32.4 million
Loan origination fees increased 25% from last year to $46.9 million, up from $37.6 million.