Walker & Dunlop, Inc. (a Delaware corporation) the predecessor to Walker & Dunlop, Inc., a Maryland corporation and indirect owner of Walker & Dunlop, LLC, the Freddie Mac seller/servicer, was founded in 1937. At that time, Walker & Dunlop was one of the first companies to use Federal Housing Administration (FHA) insurance to make single-family home loans. By the end of World War II, Walker & Dunlop pioneered the first uses of Taft-Hartley funds for mortgage and real estate investment.
In the decades that followed, Walker & Dunlop continued to be an industry leader, and in 1971 arranged the first off-balance sheet financing for the United States government at the U.S. Geological headquarters in Reston, Virginia.
In 1974, Mallory Walker, the co-founder's son, became President and Chief Executive Officer of Walker & Dunlop. Under Mr. Walker's leadership, the firm continued to innovate, and in 1988 launched one of the first companies to utilize Fannie Mae's Delegated Underwriting and Servicing (DUS TM) program.
In the 1990s, one of the predecessor entities to Walker & Dunlop became a major lender to the real estate investment trust (REIT) industry, using cross collateral and substitution of assets in revolving credit structures for major REITs, including Charles E. Smith Residential, United Dominion Realty Trust and Walden Residential Properties.
In 2003, Mallory Walker's son, Willy, joined Walker & Dunlop's management team, and today serves as its Chairman, President and Chief Executive Officer.
In 2009, the predecessor entities to Walker & Dunlop acquired substantially all of the assets of Column Guaranteed LLC (a subsidiary of Credit Suisse) and subsequently consolidated its operations under Walker & Dunlop, LLC. Walker & Dunlop, LLC first obtained its Freddie Mac seller/servicer licenses in connection with this transaction.
In 2010, through a series of transactions, Walker & Dunlop formed Walker & Dunlop, Inc., completed an initial public offering, and listed its stock on the New York Stock Exchange. At that time, Walker & Dunlop was the first mortgage banking company in over four and a half years to access the public capital markets.
On September 4, 2012, Walker & Dunlop completed the acquisition of CWCapital LLC. CWCapital was formerly an operating subsidiary of CW Financial Services LLC, which is wholly owned by funds managed by affiliates of Fortress Investment Group LLC (NYSE:FIG). In connection with the acquisition, Walker & Dunlop acquired CWCapital's Freddie Mac Program Plus and Targeted Affordable Housing seller/servicer licenses, and simultaneously obtained several additional Program Plus licenses. Walker & Dunlop now holds Freddie Mac Program Plus licenses in 22 states plus the District of Columbia and is a Targeted Affordable Housing seller/servicer.
Now with over 400 employees across the country and in its third generation of Walker management, Walker & Dunlop remains the firm of choice for discerning commercial and multifamily real estate investors, owners and developers.