Watch excerpts from the 2016 annual

company meeting for employees

delivered by William M. Walker,

Chairman and Chief Executive Officer

FINANCING

AMERICA’S

HOUSING

FUTURE

The investments we made in 2016 to bring in new loan origination and brokerage professionals, along with the future servicing revenues created by record loan originations, will drive our financial performance in 2017 and beyond.

dear fellow shareholders:

William M. Walker, Chairman & CEO

2016 was an exceptional year for Walker & Dunlop. We delivered record financial performance and built upon the Company’s outstanding track record of growth. We have grown revenues 30% and diluted EPS 37% on a compound annual basis since our IPO in 2010. This tremendous financial performance is due to continued investments in our loan origination and brokerage platform, which generated total transaction volume of $19.3 billion in 2016 and pushed our loan servicing portfolio to over $63 billion as of December 31, 2016. Record loan origination volume and servicing fees are primarily due to our financing professionals consistently delivering exceptional results for our clients.

At the beginning of 2016, we set out financial and strategic goals that included delivering double-digit growth in diluted EPS, increasing total revenues to over $500 million, and expanding our salesforce to 120 bankers and brokers. We far exceeded all of these targets, growing EPS by 38% to $3.65 per share, generating $575 million of revenues, and scaling our salesforce to 125 talented bankers and brokers. The investments we made in 2016 to bring in new loan origination and brokerage professionals, along with the future servicing revenues created by record loan originations, will drive our financial performance in 2017 and beyond.

Walker & Dunlop's dramatic expansion over the past several years has increased our market share of total Multifamily lending in the United States from less than 1% in 2010 to over 5% in 2016. We believe the multifamily market has many years of continued growth ahead as more and more American households choose to rent rather than buy. Over $1 trillion of student debt, stagnant wages, increasing interest rates, and a limited supply of entry-level single family housing will continue to make rental housing the preferred option for newly formed American households.  Walker & Dunlop has consistently grown faster than the broader market because of the people, platform, brand, and client base we have built, and with strong macroeconomic trends behind rental housing, we see few reasons why we can't continue to outpace the market.

The Multifamily Market

The foundation of the Walker & Dunlop platform is our incredible people, who drove the record performance we delivered in 2016. Our 550 employees originated, underwrote, and closed 1,035 financing and sales transactions last year, an all-time high for our business. But they also raised their kids, took care of ill parents, participated in their communities, and volunteered in charity events across the country. Our people strengthen the Walker & Dunlop brand and reputation every day, which has allowed us to be named a Great Place to Work® four of the last five years. We have always felt that if we built a great company with great people, that the financial success would follow—and it has.

We went public with the vision of creating the premier commercial real estate finance firm in the United States and have consistently established long-term financial, operational, and strategic milestones to achieve that goal.  We outlined for investors at the beginning of 2017 an ambitious plan to generate $1 billion in annual revenues by the end of 2020. With the team we have built and the market opportunity we see ahead, we have confidence that we can achieve that goal.

I’d like to thank all my colleagues at Walker & Dunlop for all their hard work to make 2016 an exceptional year for our company. I’d also like to thank you, our shareholders, for your ongoing support of our board, management team, strategy, and long-term vision.

William M. Walker
Chairman & CEO

This Annual Report contains forward-looking statements within the meaning of federal securities law. Please see page 3 of our 2016 Form 10-K filed with the Securities and Exchange Commission for additional information regarding forward-looking statements.

 

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2016 was an exceptional year for Walker & Dunlop. We delivered record financial performance and built upon the Company’s outstanding track record of growth. We have grown revenues 30% and diluted EPS 37% on a compound annual basis since our IPO in 2010. This tremendous financial performance is due to continued investments in our loan origination and brokerage platform, which generated total transaction volume of $19.3 billion in 2016 and pushed our loan servicing portfolio to over $63 billion as of December 31, 2016. Record loan origination volume and servicing fees are primarily due to our financing professionals consistently delivering exceptional results for our clients.

At the beginning of 2016, we set out financial and strategic goals that included delivering double-digit growth in diluted EPS, increasing total revenues to over $500 million, and expanding our salesforce to 120 bankers and brokers. We far exceeded all of these targets, growing EPS by 38% to $3.65 per share, generating $575 million of revenues, and scaling our salesforce to 125 talented bankers and brokers. The investments we made in 2016 to bring in new loan origination and brokerage professionals, along with the future servicing revenues created by record loan originations, will drive our financial performance in 2017 and beyond.

Walker & Dunlop's dramatic expansion over the past several years has increased our market share of total Multifamily lending in the United States from less than 1% in 2010 to over 5% in 2016. We believe the multifamily market has many years of continued growth ahead as more and more American households choose to rent rather than buy. Over $1 trillion of student debt, stagnant wages, increasing interest rates, and a limited supply of entry-level single family housing will continue to make rental housing the preferred option for newly formed American households.  Walker & Dunlop has consistently grown faster than the broader market because of the people, platform, brand, and client base we have built, and with strong macroeconomic trends behind rental housing, we see few reasons why we can't continue to outpace the market.

The Multifamily Market

The foundation of the Walker & Dunlop platform is our incredible people, who drove the record performance we delivered in 2016. Our 550 employees originated, underwrote, and closed 1,035 financing and sales transactions last year, an all-time high for our business. But they also raised their kids, took care of ill parents, participated in their communities, and volunteered in charity events across the country. Our people strengthen the Walker & Dunlop brand and reputation every day, which has allowed us to be named a Great Place to Work® four of the last five years. We have always felt that if we built a great company with great people, that the financial success would follow—and it has.

We went public with the vision of creating the premier commercial real estate finance firm in the United States and have consistently established long-term financial, operational, and strategic milestones to achieve that goal.  We outlined for investors at the beginning of 2017 an ambitious plan to generate $1 billion in annual revenues by the end of 2020. With the team we have built and the market opportunity we see ahead, we have confidence that we can achieve that goal.

I’d like to thank all my colleagues at Walker & Dunlop for all their hard work to make 2016 an exceptional year for our company. I’d also like to thank you, our shareholders, for your ongoing support of our board, management team, strategy, and long-term vision.

William M. Walker
Chairman & CEO

This Annual Report contains forward-looking statements within the meaning of federal securities law. Please see page 3 of our 2016 Form 10-K filed with the Securities and Exchange Commission for additional information regarding forward-looking statements.

 

 

2016 was an exceptional year for Walker & Dunlop. We delivered record financial performance and built upon the Company’s outstanding track record of growth. We have grown revenues 30% and diluted EPS 37% on a compound annual basis since our IPO in 2010. This tremendous financial performance is due to continued investments in our loan origination and brokerage platform, which generated total transaction volume of $19.3 billion in 2016 and pushed our loan servicing portfolio to over $63 billion as of December 31, 2016. Record loan origination volume and servicing fees are primarily due to our financing professionals consistently delivering exceptional results for our clients.

At the beginning of 2016, we set out financial and strategic goals that included delivering double-digit growth in diluted EPS, increasing total revenues to over $500 million, and expanding our salesforce to 120 bankers and brokers. We far exceeded all of these targets, growing EPS by 38% to $3.65 per share, generating $575 million of revenues, and scaling our salesforce to 125 talented bankers and brokers. The investments we made in 2016 to bring in new loan origination and brokerage professionals, along with the future servicing revenues created by record loan originations, will drive our financial performance in 2017 and beyond.

Walker & Dunlop's dramatic expansion over the past several years has increased our market share of total Multifamily lending in the United States from less than 1% in 2010 to over 5% in 2016. We believe the multifamily market has many years of continued growth ahead as more and more American households choose to rent rather than buy. Over $1 trillion of student debt, stagnant wages, increasing interest rates, and a limited supply of entry-level single family housing will continue to make rental housing the preferred option for newly formed American households.  Walker & Dunlop has consistently grown faster than the broader market because of the people, platform, brand, and client base we have built, and with strong macroeconomic trends behind rental housing, we see few reasons why we can't continue to outpace the market.

The Multifamily Market

The foundation of the Walker & Dunlop platform is our incredible people, who drove the record performance we delivered in 2016. Our 550 employees originated, underwrote, and closed 1,035 financing and sales transactions last year, an all-time high for our business. But they also raised their kids, took care of ill parents, participated in their communities, and volunteered in charity events across the country. Our people strengthen the Walker & Dunlop brand and reputation every day, which has allowed us to be named a Great Place to Work® four of the last five years. We have always felt that if we built a great company with great people, that the financial success would follow—and it has.

We went public with the vision of creating the premier commercial real estate finance firm in the United States and have consistently established long-term financial, operational, and strategic milestones to achieve that goal.  We outlined for investors at the beginning of 2017 an ambitious plan to generate $1 billion in annual revenues by the end of 2020. With the team we have built and the market opportunity we see ahead, we have confidence that we can achieve that goal.

I’d like to thank all my colleagues at Walker & Dunlop for all their hard work to make 2016 an exceptional year for our company. I’d also like to thank you, our shareholders, for your ongoing support of our board, management team, strategy, and long-term vision.

William M. Walker
Chairman & CEO

This Annual Report contains forward-looking statements within the meaning of federal securities law. Please see page 3 of our 2016 Form 10-K filed with the Securities and Exchange Commission for additional information regarding forward-looking statements.