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Mon, Jan. 11, 8:15 AM
- Walker & Dunlop Commercial Property Funding (WDCPF) is a joint venture between WD and a Fortress Investment fund. Bob Restrick - who heads WDCPF - will join Walker & Dunlop after the buyout.
- WDCPF began operations in mid-2014, and has closed $337M in CMBS deals that have contributed to four securitizations.
- Terms were not disclosed and the deal is subject to customary closing conditions.
- Source: Press release
Thu, Jan. 7, 4:29 PM
- The $1.27B refinancing for Holiday Retirement - the 2nd-largest senior housing operator in the U.S. - is the largest in Walker & Dunlop's (NYSE:WD) history, nearly doubling the next-sized deal of $670M in 2015.
- For perspective, WD originated $2.8B of senior housing financing in all of 2015.
- Source: Press release
Tue, Jan. 5, 5:02 PM
Nov. 4, 2015, 9:59 AM
- Q3 net income of $20.3M or $0.66 per share vs. $15.1M and $0.47 one year ago. Adjusted EBITDA of $31M up 50% Y/Y.
- Total transaction volume for the quarter rises 58% to $4.9B, an all-time high.
- Loan origination volume of $4.1B up 32% Y/Y. Investment sales volume of $824.7M in its first full quarter on the company platform.
- Servicing portfolio of $47.8B up 16% Y/Y. Servicing fees of $29.3M up 17%.
- Previously: Walker & Dunlop beats by $0.20, beats on revenue (Nov. 4)
- WD +4.85%
Nov. 4, 2015, 6:04 AM
- Walker & Dunlop (NYSE:WD): Q3 EPS of $0.66 beats by $0.20.
- Revenue of $120.8M (+23.2% Y/Y) beats by $15.82M.
Nov. 3, 2015, 5:30 PM
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Oct. 1, 2015, 10:26 AM
- The high-flying multi-family loan originator has been knocked back only a bit during the recent broader market struggles. The pullback is enough for Argus, which upgrades to Buy from Hold.
- WD +1.15% to $26.38, just 6% below its 52-week high hit in mid-summer.
Sep. 21, 2015, 12:17 PM
- Since the Q2 earnings call at which it guided for Fannie Mae loan originations of $600M-$800M and Freddie Mac of $1B-$1.2B, loan volumes have increased significantly, and the company now sees Fannie Mae volume of $1.1B-$1.3B and Freddie Mac to come in at the high end of earlier $1B-$1.2B range.
- WD +3.4%
Sep. 3, 2015, 4:42 PM
- The Freddie Mac CME loans are secured by a portfolio of multifamily properties in Orange County, CA.
- The WD team utilized Freddie Mac's Index Lock and 150-day Early Rate Lock programs to lock in the rate on the same day as the application and close five months later.
Aug. 19, 2015, 4:47 PM
- Walker & Dunlop (NYSE:WD) originated 28 loans totaling $464.7M to fund New Senior's purchase of a portfolio of 28 independent living properties.
- This is Walker & Dunlop's 2nd deal for New Senior this year, and since WD launched its strategy to boost its seniors housing lending business this year, the company has done more than $1.2B of financings.
Aug. 5, 2015, 8:22 AM
- Q2 net income of $20.2M or $0.67 per share vs. $12.9M and $0.40 one year ago. Adjusted EBITDA of $28.9M vs. $20.9M.
- Loan origination volume of $3.5B up 45% Y/Y, and includes a 44% increase in lending with the GSEs.
- Mortgage banking gain of $70M up 34%. Servicing fees of $28.1M up 17% (portfolio of $47.7B up 20%). Net warehouse interest income of $6.6M up 70%. Other revenues of $8.1M up 100% (fees from investment sales and prepayment fees).
- Total expenses of $81.3M up 26% Y/Y, with personnel expense of $46M up 35%; as a percent of revenue unchanged at 40%.
- Conference call at 8:30 ET
- Previously: Walker & Dunlop beats by $0.15, beats on revenue (Aug. 5)
- WD +5.4% premarket in very thin trade.
Aug. 5, 2015, 6:04 AM
- Walker & Dunlop (NYSE:WD): Q2 EPS of $0.67 beats by $0.15.
- Revenue of $113.93M (+33.6% Y/Y) beats by $9.64M.
Jul. 28, 2015, 4:53 PM
- The hot-handed Walker & Dunlop (NYSE:WD) promotes California's Mark Plenge to SVP and relocates him to the Seattle office.
- Cliff Carnes, SVP and capital markets western region chief production officer: "Our expansion in the Seattle, Washington area is a strategic move to expand the Company's presence in new and upcoming markets."
Jul. 16, 2015, 10:23 AM| Jul. 16, 2015, 10:23 AM
May 20, 2015, 4:39 PM
- Hot-handed multi-family financier Walker & Dunlop (NYSE:WD) gets another boost to growth with its Dallas office now approved under Freddie Mac's Program Plus network. The company is now eligible to sell Freddie Mac loans secured by multifamily properties in Texas along with 22 other states.
- WD has seen good action with Freddie Mac, moving from 1% of the GSE's annual originations in 2009 to 10% in 2014. The company's Q1 originations of $1.674B accounted for 16.7% of Freddie Mac's quarterly originations.
May 6, 2015, 1:11 PM
- The FHFA in January set a $30M annual cap on the amount of apartment mortgages Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC +0.4%) could back, but - with that limit set to be hit in Q3 - the agency is set to loosen that restriction, according to Bloomberg.
- Without such a move, the two would have to begin cutting back on business - raising costs and limiting access for borrowers. Already, the two have been raising interest rates to try and slow the pace of activity.
- Among the options for the FHFA would be simply raising the caps (sounds too simple). Also being considered would be broadening certain criteria to make more mortgages exempt from the limit.
- Walker & Dunlop (WD +18.4%) is sharply higher on the session after reporting a big Q1, but surely won't mind hearing this news. Other commercial loan originators like HFF (NYSE:HF), iStar Financial (NYSE:STAR), and Ladder Capital (NYSE:LADR) may have interest as well.
- Previously: Walker & Dunlop +7.2%: "The wave has hit" (May 6)
Walker & Dunlop Inc is a provider of commercial real estate finance, with a primary focus on multifamily lending. The Company originates, sells, and services a range of multifamily and other commercial real estate finance products.
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