Walker & Dunlop Announces 1Q'13 Loan Origination Volumes

BETHESDA, Md., April 8, 2013 /PRNewswire/ -- Walker & Dunlop, Inc. (the "Company") (NYSE: WD) announced today first quarter 2013 loan originations of $1.73 billion compared to $674 million in the first quarter of 2012, a 157% increase. Originations were below the Company's first quarter guidance range of $1.9 - $2.4 billion largely due to the delay in the passage of the Federal Government's continuing budget resolution which restricted the Department of Housing and Urban Development's ("HUD") ability to issue new loan commitments in March.  The Company will establish second quarter origination guidance during its first quarter earnings call in early May, and is reaffirming its 2013 loan origination guidance of $10 to $12 billion.

"The first quarter is traditionally the lightest quarter for loan originations and I am pleased with our 157% year-on-year increase," commented Willy Walker, Walker & Dunlop's Chairman and Chief Executive Officer.  "With that said, it is disappointing to report quarterly origination volumes below our guidance.  Our loan pipeline is very strong and we feel confident in our ability to execute on our annual business plan and originate $10 to $12 billion in loans."

Loan origination volumes by investor were as follows:

Walker & Dunlop

Loan Origination Volume by Investor

For the quarter ended: (1)(2)

 

March 31, 2013

 

March 31, 2012

% Change

Fannie Mae

$762,973

$267,901

185%

Freddie Mac

514,595

84,517

509%

HUD/Ginnie Mae

147,414

112,603

31%

Other(3)

306,351

209,435

46%

Total

$1,731,333

$674,456

157%

 

(1) Dollars in thousands


(2) Amounts are unaudited


(3) CMBS, life insurance companies, commercial banks and interim loans

 

Origination volumes in this release are unaudited, and these amounts may be adjusted as the Company completes its year-end audit.

About Walker & Dunlop

Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading commercial real estate finance companies in the United States, with a primary focus on multifamily lending. As a Fannie Mae DUS®, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance groups are focused on lending to property owners, investors, and developers of multifamily properties across the country. The Capital Markets group specializes in financing commercial real estate for owners and investors across the United States, securing capital from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Proprietary Capital group develops new financial products and provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity, including interim financing. Walker & Dunlop, LLC has over 400 employees located in 21 offices nationwide. More information about the Company can be found at www.walkerdunlop.com.

Forward Looking Statements
Some of the statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as ''may,'' ''will,'' ''should,'' ''expects,'' ''intends,'' ''plans,'' ''anticipates,'' ''believes,'' ''estimates,'' ''predicts,'' or ''potential'' or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions.

The forward-looking statements contained in this release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed or contemplated in any forward-looking statement.

While forward-looking statements reflect our good faith projections, assumptions and expectations, they are not guarantees of future results. Furthermore, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law. For a further discussion of these and other factors that could cause future results to differ materially from those expressed or contemplated in any forward-looking statements, see the section entitled ''Risk Factors" in our most recent Annual Report on Form 10-K and in our subsequent SEC filings.

SOURCE Walker & Dunlop, Inc.



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