Walker & Dunlop Announces 2013 Loan Origination Volume of $8.4 Billion and Details for Fourth Quarter and Full Year 2013 Earnings Conference Call

BETHESDA, Md., Jan. 15, 2014 /PRNewswire/ -- Walker & Dunlop, Inc. (the "Company") (NYSE: WD) announced today 2013 loan origination volume of $8.4 billion, an increase of 18% over 2012. Fourth quarter loan origination volume of $2.3 billion was above the mid-point of fourth quarter origination guidance of $1.5 to $3.0 billion. The Company ended the year with a loan servicing portfolio of $38.9 billion, an increase of 11% over 2012.

"The 18% year-on-year increase in origination volume represents our fifth consecutive year of origination volume growth, for a compound annual growth rate of 33%," stated Willy Walker, Walker & Dunlop's Chairman and CEO. "Fannie Mae and Freddie Mac origination volumes were capped in 2013, and Walker & Dunlop's GSE originations were down 10.8% year-on-year, in line with the cap. HUD volumes, in a very challenging year from a political standpoint, grew extremely well at 33%.  And our diversification strategy to grow capital markets and proprietary capital originations made fantastic progress, growing 117% and 449%, respectively.  Posting 18% aggregate origination growth in a year when Fannie Mae and Freddie Mac had origination caps and now account for only 53% of our originations, down from 71% in 2012, demonstrates the strength in the commercial real estate market and is exactly why we embarked on our diversification strategy." 

Loan origination volumes by investor were as follows:

Loan Origination Volume by Investor

For the years ended:

December 31, 2013(1)(2)

 

December 31, 2012(1)(2)

%
Change

Fannie Mae

$2,763

$3,330

-17%

Freddie Mac

$1,710

$1,685

1%

HUD/Ginnie Mae

$1,137

$855

33%

Brokered(3)

$2,593

$1,197

117%

Interim Loans(4)

$192

$35

449%

Total

$8,395

$7,102

18%

(1) Dollars in millions

(2) Amounts are unaudited

(3) Includes loans brokered to CMBS, life insurance companies and commercial banks

(4) Includes our on-Balance Sheet interim loans and loans made through our large loan bridge program

 

Origination and servicing volumes in this release are unaudited, and these amounts may be adjusted as the Company completes its year-end audit. The Company is releasing the unaudited 2013 loan origination and servicing volumes in order to participate in industry surveys. No conclusions should be drawn about the Company's fourth quarter and full year 2013 results from these announced volumes. 

The Company will release its fourth quarter and full year 2013 results before the market opens on Thursday, February 13, 2014, and will host a conference call to discuss the results on February 13, 2014 at 8:30 a.m. Eastern time. Analysts and investors interested in participating are invited to call (866) 952-1906 from within the United States or (785) 424-1825 from outside the United States and are asked to reference the Conference ID: WDQ413. A simultaneous webcast of the call will be available on the Investor Relations section of the Company's website at www.walkerdunlop.com.

A telephonic replay of the call will be available from approximately 11:00 a.m. Eastern time February 13, 2014 through February 27, 2014. To access the replay, please call (800) 283-4216 from within the United States or (402) 220-9033 from outside the United States. An audio replay also will be available on the Investor Relations section of the Company's website.

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 and equity, including bridge financing. Walker & Dunlop, LLC has more than 400 employees located in 21 offices nationwide. For more information about the Company, please visit www.walkerdunlop.com or follow us on Twitter at @Walkerdunlop.

Forward Looking Statements
Some of the statements contained in this press release may 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 which 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 press 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. Factors that could cause our results to differ materially include, but are not limited to: (1) general economic conditions and multifamily and commercial real estate market conditions, (2) regulatory and or legislative changes to Freddie Mac, Fannie Mae or HUD, (3)  our ability to retain and attract loan originators and other professionals, and (4) changes in federal government fiscal and monetary policies, including any constraints or cuts in federal funds allocated to HUD for loan originations. 

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. Such filings are available publicly on our Investor Relations web page at www.walkerdunlop.com.

SOURCE Walker & Dunlop, Inc.



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