Walker & Dunlop Ranked #1 Fannie Mae DUS® Lender in 2013
BETHESDA, Md., Feb. 3, 2014 /PRNewswire/ -- Walker & Dunlop, Inc. (the "Company") (NYSE: WD) announced today that for the second consecutive year it was ranked as the largest Fannie Mae DUS® Lender. Walker & Dunlop has been a DUS lender since the program's inception in 1988 and has grown from the #10 lender in 2007 to the #1 lender today. During 2013, the Company originated $2.8 billion in multifamily loans for Fannie Mae.
"What a fantastic accomplishment to be ranked #1 for the second year in a row," commented Willy Walker, Chairman, President and CEO. "Our 2012 ranking was thanks to the combination of Walker & Dunlop and CWCapital. 2013, however, is all us -- an integrated, focused corporation with outstanding execution on behalf of our customers. Fannie Mae is the largest provider of capital to the multifamily industry, and we are honored to be their largest DUS lender for the second year in a row."
According to the release from Fannie Mae, 99 percent of the $28.8 billion provided to the multifamily market in 2013 was delivered through the DUS lender network. The DUS program, which stands for Delegated Underwriting and Servicing, is unique in that private lenders originate multifamily loans for Fannie Mae and retain the first loss position in the loans. The DUS program maintained extremely low default rates throughout the financial crisis, and when there are loan losses, private capital, not Fannie Mae, pays first.
Walker & Dunlop was also ranked as the fourth largest originator of loans on Affordable Housing for Fannie Mae in 2013. "Although 2013 brought down the unemployment rate across the country, there was no real wage growth for American workers," continued Mr. Walker. "We are extremely pleased to be one of the largest Fannie Mae DUS lenders on Affordable Housing at a time when it is so greatly needed."
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
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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.