|Company's Full Name:||Walker and Dunlop, Inc.|
|Short Name:||Walker and Dunlop|
|Trading Ticker Symbol:||WD|
|Headquarter City/Country:||Maryland, MD|
|Primary Industry Sector:||Finance|
|Seconday Sub-sector:||Consumer Finance Services|
|Main Business Areas:||Finance, Consumer Finance Services, Financial Services, Specialty Finance|
|Dividend Payments:||Dividend History|
|Current Share Price:||$55.96|
|Previous Year's Closing Price:||$43.25|
|Percentage Price Change (YTD):||29.39%|
|Market Cap:||$1.72 billion|
|52-week Price Range:||$37.96 - $60.67|
|Dividend Per Share:||$1.05|
Walker & Dunlop, Inc., incorporated on July 29, 2010, is a holding company, which conducts its operations through Walker & Dunlop, LLC. The Company provides commercial real estate financial products and services primarily to developers and owners of multifamily properties. The Company originates, sells and services a range of multifamily and other commercial real estate financing products, including Multifamily Finance, Federal Housing Administration (FHA) Finance, Capital Markets, and Proprietary Capital. It originates and sells loans through the programs of the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac, and together with Fannie Mae, the government-sponsored enterprises (GSEs)), the Government National Mortgage Association (Ginnie Mae) and the Federal Housing Administration, a division of the United States Department of Housing and Urban Development (together with Ginnie Mae, HUD).
The Company retains servicing rights and asset management responsibilities on nearly all loans that it originates for GSE and HUD programs. It is a Fannie Mae Delegated Underwriting and Servicing (DUS) lender, a Freddie Mac seller/servicer, a Freddie Mac targeted affordable housing seller/servicer, a HUD Multifamily Accelerated Processing (MAP) lender, a HUD Section 232 LEAN lender and a Ginnie Mae issuer. It is a broker and services loans for a range of life insurance companies, commercial banks, commercial mortgage backed securities (CMBS) issuers, and other institutional investors, in which cases it does not fund the loan but rather act as a loan broker. It also originates and holds interim loans on its balance sheet and offers investment sales brokerage services. The Company focuses primarily on multifamily properties, and offers a range of commercial real estate finance products, including first mortgage loans, second trust loans, supplemental financings, construction loans, mezzanine loans and bridge/interim loans.
The Company participates in Fannie Mae's DUS program for multifamily, manufactured housing communities, student housing, affordable housing and certain seniors housing properties. The Company is a lender approved as a Freddie Mac Program Plus lender under, which it originates and sells to Freddie Mac multifamily, manufactured housing communities, student housing, affordable housing, and seniors housing loans. Under the program, the Company submits its completed loan underwriting package to Freddie Mac and obtains Freddie Mac's commitment to purchase the loan at a specified price after closing. The Company is also contracted by Freddie Mac to service and asset-manage all loans that it originates under its program.
The Company provides construction and permanent loans to developers and owners of multifamily housing, affordable housing, seniors housing and healthcare facilities. The Company submits its completed loan underwriting package to HUD and obtains HUD's approval to originate the loan. It services and asset-manages all loans originated through HUD's various programs.
The Company serves as an intermediary in the placement of commercial real estate debt between institutional sources of capital, such as life insurance companies, investment banks, commercial banks, pension funds, CMBS issuers and other institutional investors, and owners of all types of commercial real estate. The Company advises on capital structure, develops the financing package, facilitates negotiations between its client and institutional sources of capital, coordinates due diligence and assists in closing the transaction. In these instances, the Company acts as a loan broker. It services some of these loans.
The Company's Proprietary Capital products include interim loans. It offers interim loans that provide floating-rate, interest-only loans for terms of up to 3 years to borrowers seeking to acquire or reposition multifamily properties that do not qualify for permanent financing (the Interim Program). It underwrites all loans originated through the Interim Program. In addition, it services and asset-manages loans originated through the Interim Program.
Investment Sales Brokerage Services
The Company offers investment sales brokerage services to owners and developers of multifamily properties that are seeking to sell properties. Its investment sales brokerage services are offered primarily in the southeastern United States. The Company, through Walker & Dunlop Investment Sales, LLC (WDIS), conducts its investment sales operations.
Direct Loan Originators and Correspondent Network
As of December 31, 2016, the Company originated loans through loan originators operating out of 28 offices nationwide. Its loan originators collect and analyze financial and property information, assist the borrowers in submitting information required to complete a loan application, and help the borrower in closing the loan. As of December 31, 2016, it had correspondent agreements with 24 independently owned mortgage banking companies across the country with which the Company had relationships for GSE and HUD loan originations. The Company's correspondents assist it in evaluating loans, including pre-screening the borrowers, key principals and properties for program eligibility, coordinating due diligence, and providing market intelligence.
Underwriting and Risk Management
The Company uses various tools to manage its Fannie Mae risk-sharing exposure. These tools include an underwriting and approval process, evaluating, and modifying its underwriting criteria given the underlying multifamily housing market fundamentals, limiting its geographic, borrower and principal exposures, and using modified risk-sharing under the Fannie Mae DUS program.
The Company's underwriting process begins with a review of suitability for its investors and a detailed review of the borrower, key principals and the property. It reviews a borrower's financial statements for minimum net worth and liquidity requirements, as well as obtaining credit and criminal background checks. It also reviews a borrower's and principals' operating track record, including evaluating the performance of other properties owned by the applicable borrower and key principals. It also considers the borrower's and key principals' bankruptcy and foreclosure history. It reviews the fundamental value and credit profile of the underlying property, including an analysis of regional economic trends, appraisals of the property, and reviews of historical and prospective financials. Third-party vendors are engaged for appraisals, engineering reports, environmental reports, flood certification reports, zoning reports and credit reports.
Servicing and Asset Management
The Company services all loans that it originates for the GSEs, HUD, and its Proprietary Capital products and some of the loans for which it acts as a broker for institutional investors, primarily life insurance companies. It is an approved servicer for Fannie Mae, Freddie Mac, and HUD loans. Its servicing function includes loan servicing and asset management activities, such as carrying out all cashiering functions relating to the loan, including providing monthly billing statements to the borrower and collecting and applying payments on the loan; administering reserve and escrow funds for repairs, tenant improvements, taxes and insurance; obtaining and analyzing financial statements of the borrower and performing periodic property inspections; preparing and providing periodic reports and remittances to the GSEs, investors, master servicers, or other designated persons, and administering lien filings. It also outsources some of its servicing activities to a subservicer.
The Company competes with Wells Fargo, N.A., CBRE Group, Inc., Jones Lang LaSalle Incorporated, Marcus & Millichap, Inc., HFF, Inc., PNC Real Estate, Northmarq Capital, LLC, Berkeley Point Capital and Berkadia Commercial Mortgage, LLC.
7501 Wisconsin Ave Ste 1200E
▶ AllianzGI NFJ Dividend Interest and Premium Strate (NFJ): NFJ Dividend, Interest& Premium Strategy Fund (the Fund) is a diversified closed-end management investment company. The Funds primary investment objective is to seek current income and gains, with a secondary ....See Detailed Company Profile and Dividend History.
▶ Ally Financial (ALLY): Ally Financial Inc. provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates throug....See Detailed Company Profile and Dividend History.
▶ America First Multifamily Investors (ATAX): America First Multifamily Investors, L.P. acquires, holds, sells, and deals in a portfolio of mortgage revenue bonds (MRBs) that are issued to provide construction or permanent financing for multifami....See Detailed Company Profile and Dividend History.
▶ American Express (AXP): American Express Company, incorporated on June 10, 1965, together with its subsidiaries, is a global services company. The Companys principal products and services are charge and credit card products, and ....See Detailed Company Profile and Dividend History.
▶ Atlanticus (ATLC): Atlanticus Holdings Corporation, incorporated on May 14, 2009, is focused on providing financial services. Through its subsidiaries, the Company offers an array of financial products and services. The Company operates ....See Detailed Company Profile and Dividend History.
▶ Blackhawk Network (HAWK): Blackhawk Network Holdings, Inc., incorporated on January 27, 2006, is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail ....See Detailed Company Profile and Dividend History.
▶ CABCO Series 2004-101 Trust (GYB): ....See Detailed Company Profile and Dividend History.
▶ CABCO Series 2004-101 Trust (PFH): ....See Detailed Company Profile and Dividend History.
▶ CIT DEL (CIT): CIT Group Inc. operates as the holding company for CIT Bank, N.A. that provides banking and related services to commercial and individual customers. The company operates through Commercial Banking and....See Detailed Company Profile and Dividend History.
▶ Consumer Portfolio (CPSS): Consumer Portfolio Services, Inc., incorporated on March 8, 1991, is a specialty finance company. The Companys business is to purchase and service retail automobile contracts originated primarily by franchised automobile ....See Detailed Company Profile and Dividend History.
▶ Corporate Asset Backed CABCO (GYC): ....See Detailed Company Profile and Dividend History.
▶ Credit Acceptance (CACC): Credit Acceptance Corporation, incorporated on August 23, 1972, offers financing programs that enable automobile dealers to sell vehicles to consumers. The Companys financing programs are offered through a network of ....See Detailed Company Profile and Dividend History.
▶ Discover Financial (DFS): Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards t....See Detailed Company Profile and Dividend History.
▶ Dun and Bradstreet (DNB): The Dun & Bradstreet Corporation, incorporated on April 25, 2000, is the source of commercial data, analytics and insight on businesses. The Company operates through two segments: Americas, which consists ....See Detailed Company Profile and Dividend History.
▶ Enova International (ENVA): Enova International, Inc., incorporated on September 7, 2011, is a technology and analytics company. The Company provides online financial services. As of December 31, 2016, the Company offered or arranged ....See Detailed Company Profile and Dividend History.
▶ Equifax (EFX): Equifax Inc., incorporated on December 20, 1913, is a global provider of information solutions and human resources business process outsourcing services for businesses, governments and consumers. The Company operates in ....See Detailed Company Profile and Dividend History.
▶ Everi (EVRI): Everi Holdings Inc., incorporated on February 4, 2004, is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc. (Everi Games Holding) and Everi Payments Inc. (Everi ....See Detailed Company Profile and Dividend History.
▶ Green Dot (GDOT): Green Dot Corporation (Green Dot), incorporated on October 26, 1999, is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing ....See Detailed Company Profile and Dividend History.
▶ KKR Financial LLC (KFI): ....See Detailed Company Profile and Dividend History.
▶ Lehman ABS (CVB): Level 10....See Detailed Company Profile and Dividend History.
... See Full List of All Stocks of Consumer Finance Services Sector.
▶ Stocks of Sector
▶ Stocks of Accident and Health Insurance Sector
▶ Stocks of Banks Sector
▶ Stocks of Business Services Sector
▶ Stocks of Commercial Banks Sector
▶ Stocks of Commercial Leasing Sector
▶ Stocks of Commercial REITs - NEC Sector
▶ Stocks of Consumer Finance Services Sector
▶ Stocks of Consumer Lending - NEC Sector
▶ Stocks of Diversified Commercial Services Sector
▶ Stocks of Diversified Financial Services Sector
▶ Stocks of Finance Companies Sector
▶ Stocks of Financial Services Sector
▶ Stocks of Insurance Sector
▶ Stocks of Investment Bankers and Brokers Sector
▶ Stocks of Investment Funds Sector
▶ Stocks of Investment Managers Sector
▶ Stocks of Investors Services Sector
▶ Stocks of Life Insurance Sector
▶ Stocks of Major Banks Sector
▶ Stocks of Miscellaneous Sector
▶ Stocks of Mortgage REITs Sector
▶ Stocks of Multiline Insurance and Brokers-NEC Sector
▶ Stocks of Office REITs Sector
▶ Stocks of Private Equity Sector
▶ Stocks of Property and Casualty Insurance-NEC Sector
▶ Stocks of Property Insurance Sector
▶ Stocks of Property-Casualty Insurers Sector
▶ Stocks of Real Estate Sector
▶ Stocks of REITs Sector
▶ Stocks of Savings Institutions Sector
▶ Stocks of Specialized REITs - NEC Sector
▶ Stocks of Specialty Insurers Sector
▶ Stocks of Sector
▶ Stocks of Basic Industries Sector
▶ Stocks of Basic Materials Sector
▶ Stocks of Capital Goods Sector
▶ Stocks of Communication Services Sector
▶ Stocks of Consumer Cyclical Sector
▶ Stocks of Consumer Defensive Sector
▶ Stocks of Consumer Durables Sector
▶ Stocks of Consumer Non-Durables Sector
▶ Stocks of Consumer Services Sector
▶ Stocks of Energy Sector
▶ Stocks of Finance Sector
▶ Stocks of Financial Services Sector
▶ Stocks of Health Care Sector
▶ Stocks of Industrials Sector
▶ Stocks of Miscellaneous Sector
▶ Stocks of Public Utilities Sector
▶ Stocks of Real Estate Sector
▶ Stocks of Services Sector
▶ Stocks of Technology Sector
▶ Stocks of Transportation Sector
▶ Stocks of Utilities Sector