BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. (NYSE: WD) (the “Company,” “Walker & Dunlop,” or “W&D”) reported its strongest quarterly results of 2023 in the fourth quarter. Total revenues were $274.3 million in the fourth quarter, a decrease of 3% year over year. Fourth quarter total transaction volume was $9.3 billion, down 17% year over year. Net income for the fourth quarter of 2023 was $31.6 million, or $0.93 per diluted share, down 24% and 25%, respectively, year over year. Adjusted EBITDA was ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. has funded a new $380,000,000 credit facility for the refinance of 11 student housing properties on behalf of Scion Student Communities ("SSC"), a joint venture among The Scion Group LLC ("Scion"), General Investment Corporation of Singapore ("GIC") and Canada Pension Plan Investment Board ("CPPIB"). The Scion Group is the largest owner/operator of off-campus student housing communities globally, with over 80,000 beds in its portfolio. This latest financ ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop Investors Partners (“WDIP”) announced that it has closed its latest fund, part of a planned series of funds focused on multifamily bridge financing. The WDIP team, led by Geoff Smith, Marcus Duley, and Mitch Resnick, will originate value-add multifamily bridge loans with a targeted Agency exit. The fund has $157,500,000 of equity commitments and intends to utilize leverage to support between $450 million and $600 million in lending capacity. The fund’s core s ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. (NYSE: WD) was recognized as the largest Fannie Mae DUS® lender by volume in 2023, making it Fannie Mae’s #1 partner, five years in a row. In addition to being Fannie Mae’s largest multifamily lending partner by volume at $6.6 billion, Walker & Dunlop was also recognized by Fannie Mae as: #1 Producer for Green Financing #1 Producer for Student Housing #3 Producer for Multifamily Affordable Housing #3 Producer for Small Loans #4 Producer for Str ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it will release its fourth quarter and full-year 2023 results before the market opens on February 15, 2024. The Company will host a conference call to discuss the quarterly results on February 15, 2024, at 8:00 a.m. Eastern time. Listeners can access the call by dialing (888) 256-1007 from within the United States or (773) 305-6853 from outside the United States and are asked to reference the Confirmation Code: 8217003. A simultaneo ...

One stock that might be an intriguing choice for investors right now is Walker & Dunlop, Inc. (WD) . This is because this security in the Financial - Mortgage & Related Services space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably tak ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it has expanded its Carolinas Investment Sales team with the addition of Managing Director Michael Saclarides. He will be focused on Walker & Dunlop's multifamily institutional brokerage activities in Charlotte and the rest of the Carolinas. Devin Bryan, who also joins Walker & Dunlop from Cushman & Wakefield, will work as a director on the team. Based out of the Charlotte office, Saclarides will lead Walker & Dunlop’s sales efforts ...

Financial Data and Key Metrics Changes - Walker & Dunlop's revenues fell 15% in Q3 2023, resulting in total revenues of $269 million, with total transaction volumes down 49% year-over-year to $8.6 billion [6][10] - Diluted earnings per share declined 54% to $0.64, while adjusted core EPS was down only 21% to $1.11 per share [93][108] - Adjusted EBITDA decreased by 1% to $74 million, demonstrating stability in recurring revenue streams [93][108] Business Line Data and Key Metrics Changes - The Servicing and Asset Management (SAM) segment saw revenues increase by 15% year-over-year to $148 million, with net income up 47% [8] - Debt brokerage volume declined 52% year-over-year to $3.1 billion, reflecting challenges in non-multifamily acquisitions and financing markets [7] - The asset management business generated over $110 million in annual revenues, indicating strong growth potential [23] Market Data and Key Metrics Changes - The multifamily acquisitions market improved slightly, with property sales of $2.5 billion, down 50% year-over-year but up 67% from Q2 2023 [15] - Fannie Mae and Freddie Mac have deployed only $74 billion of their $150 billion annual multifamily lending caps, indicating a lack of demand in the current market [15] - The overall commercial real estate transaction activity remained low, with Q3 2023 transaction volume down 49% compared to the same quarter last year [17] Company Strategy and Development Direction - The company is focused on building a sustainable business model that can withstand market cycles, emphasizing the importance of its servicing and asset management segments [14][20] - Walker & Dunlop aims to capitalize on its brand and scale as financing and sales volumes are expected to return in the coming years [7] - The company is committed to its five-year strategic plan, "The Drive to '25," targeting $2 billion in revenues and $13 per share of earnings [14][114] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the current macroeconomic conditions, particularly the rising interest rates impacting transaction volumes [14][50] - The expectation is that the market will transition from a "wait and see" attitude in 2023 to a more active "I must move" market in 2024, driven by the need to refinance maturing loans [106][113] - Management remains optimistic about the company's positioning for growth when the market stabilizes, highlighting the strength of its servicing and asset management platform [21][100] Other Important Information - The company has reduced its headcount, resulting in annualized personnel-related savings of $25 million, which contributed to stabilizing financial results [20] - Walker & Dunlop's technology investments in small-balance lending and appraisals are expected to drive growth and efficiency in its operations [23][94] - The company has a strong cash position of $236 million at the end of the quarter, allowing it to maintain liquidity and pay dividends [111] Q&A Session Summary Question: Impact of GSEs' new restrictions on W&D - Management noted that the implications of new restrictions from Fannie Mae and Freddie Mac are minimal for Walker & Dunlop, as less than 10% of its deal flow comes through brokers [116] Question: Interest rate outlook and transaction volumes - Management indicated that stabilization of interest rates could lead to increased transaction volumes, but emphasized the need for cap rates to adjust accordingly [120] Question: Growth opportunities in asset management and affordable housing - Management highlighted the significant growth potential in the asset management space and the importance of affordable housing, particularly with the Alliant acquisition [71][135]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35000 Walker & Dunlop, Inc. (Exact name of registrant as specified in its charter) Maryland 80-0629925 in ...

Walker & Dunlop, Inc. (NYSE:WD) Q2 2023 Earnings Conference Call August 3, 2023 8:00 AM ET Company Participants Kelsey Duffey – Senior Vice President-Investor Relations Willy Walker – Chairman and Chief Executive Officer Greg Florkowski – Chief Financial Officer Conference Call Participants Steven DeLaney – JMP Securities Jay McCanless – Wedbush Jade Rahmani – KBW Operator Good day, and welcome to the Q2 2023 Walker & Dunlop, Inc. Earnings Call. Today’s call is being recorded. [Operator Instructions] At th ...