Walker & Dunlop (WD) originated about $3.2 billion of loans in 2010, an increase of 42% from the prior year. The company, which provides financial services to the commercial real estate sector, said it ended the year with a loan-servicing portfolio of more than 1,600 loans worth about $14.7 billion. Nearly half of the mortgages the Maryland-based lender wrote last year were sold to Fannie Mae. Roughly 16.5% of the loans were sold to Freddie Mac, while 19.25% were sold to Ginnie Mae or originated through programs aligned with the Department of Housing and Urban Development. Some 15% of loans originated were pooled for commercial mortgage-backed securities or written for life insurance companies and commercial banks. In the middle of December, Walker & Dunlop sold 10 million shares for $10 each in an initial public offering. In its first day of trading, the stock slumped to $9.80 a share and eventually closed at $9.90. In filings with the Securities and Exchange Commission, the company expected its IPO to price in a range of $14 to $16 a share. Write to Jason Philyaw.
Walker & Dunlop commercial loan originations rose 42% in 2010
January 13, 2011, 1:41pm
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio
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Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio