Walker & Dunlop Expands Freddie Mac Business with Additional Freddie Mac Program Plus® Seller/Servicer Territories
BETHESDA, Md., Oct. 15, 2012 /PRNewswire/ -- Walker & Dunlop, Inc. (WD) (the "Company") announced today it is now an approved Freddie Mac Program Plus® Seller/Servicer in 22 states plus the District of Columbia, representing significant expansion of the Company's Freddie Mac business. The additional territories, combined with the added scale from the CWCapital LLC ("CWCapital") acquisition, strengthen Walker & Dunlop's position as one of the largest and most competitive multifamily lenders in the country.
In connection with its recent acquisition of CWCapital, Walker & Dunlop acquired five additional Freddie Mac Program Plus® Seller/Servicer territories as well as expanded its Freddie Mac territories to include the entire states of New York, New Jersey, Connecticut and Pennsylvania, where both companies had limited territory approvals.
Separately, Walker & Dunlop was also recently granted new Freddie Mac Program Plus® Seller/Servicer territories in six states as a result of the Company's growth and additional market presence.
"We hired two fantastic origination teams during the second quarter of this year in Florida and Wisconsin and are very pleased Freddie Mac has given us the ability to partner with them in these two states," commented Howard W. Smith, Executive Vice President and Chief Operating officer of Walker & Dunlop. "The territories acquired in the CWCapital acquisition, combined with those newly approved by Freddie Mac, dramatically increase Walker & Dunlop's Freddie Mac lending footprint."
As a Freddie Mac Program Plus® Seller/Servicer, Walker & Dunlop can provide financing for the acquisition, refinance and rehabilitation of apartment communities. Freddie Mac's flexible product lines deliver numerous financing solutions including Conventional Fixed-Rate Mortgages, ARMs, Student Housing, Seniors Housing Mortgages and Credit Facilities. Approved for specific geographic areas, Freddie Mac's Program Plus® Seller/Servicer network is a highly selective group of experienced multifamily lenders across the nation. Program Plus® Seller/Servicers must meet Freddie Mac standards for both origination and servicing of multifamily loans.
Walker & Dunlop's Freddie Mac representation now includes Alaska, California, Connecticut, District of Columbia, Florida, Georgia, Hawaii, Idaho, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia, Washington and Wisconsin.
About Walker & Dunlop
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. 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. Walker & Dunlop's proprietary Interim Loan Program provides financing for multifamily properties that do not currently qualify for permanent financing. 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 Principal Investments group provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity.
SOURCE Walker & Dunlop, Inc.