Walker & Dunlop, Inc. announced today that its servicing portfolio totaled $100.8 billion at July 31, 2020, driven by strong loan originations and limited payoffs. Surpassing $100 billion is one of the pillars of the company’s five-year strategic growth plan, Vision 2020, to increase annual revenues from $468 million in 2015 to $1 billion by the end of 2020.
“Growing our servicing portfolio from just over $50 billion at the end of 2015 to over $100 billion in less than five years is an incredible accomplishment,” commented Chairman and CEO, Willy Walker. “This achievement is a testament to the outstanding group of bankers and brokers we have at W&D, the exceptional service we provide to our clients every day, and the ability of our team to establish highly ambitious long-term goals and consistently achieve them.”
Steve Theobald, Walker & Dunlop’s Chief Financial Officer, commented, “The servicing portfolio is the backbone of our financial success, as it generates steady, contractually obligated cash servicing fees, which have driven dramatic growth in W&D’s adjusted EBITDA, and allowed us to continuously invest in future growth.” Theobald continued, “Jim Schroeder and our entire servicing team should be congratulated for managing this dramatic growth in the servicing portfolio while maintaining exceptional customer service and implementing technology solutions to make W&D more efficient and insightful.”
As of July 31, 2020, Walker & Dunlop’s servicing portfolio contained over 7,300 loans with a weighted average servicing fee of 23.3 bps. The weighted average remaining life of the loans in the portfolio is 9.5 years, and with more than 85% of servicing fees prepayment protected, the portfolio is an asset with very stable, predictable forward revenues.
Walker & Dunlop is the 8th largest commercial mortgage servicer in the United States as of December 31, 2019, according to the Mortgage Bankers Association. The Company’s operating subsidiary, Walker & Dunlop, LLC, is a rated Primary Servicer by Fitch with a rating of CPS2+. Walker & Dunlop, LLC services loans on all types of commercial real estate properties on behalf of Fannie Mae, Freddie Mac, Ginnie Mae, life insurance companies, and other capital sources.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine’s Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop’s 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.
Forward Looking Statements
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