0001193125-14-284657.txt : 20140729 0001193125-14-284657.hdr.sgml : 20140729 20140729161929 ACCESSION NUMBER: 0001193125-14-284657 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140729 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140729 DATE AS OF CHANGE: 20140729 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Walker & Dunlop, Inc. CENTRAL INDEX KEY: 0001497770 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35000 FILM NUMBER: 141000033 BUSINESS ADDRESS: STREET 1: 7501 WISCONSIN AVENUE STREET 2: SUITE 1200E CITY: BETHESDA STATE: MD ZIP: 20814 BUSINESS PHONE: (301) 215-5500 MAIL ADDRESS: STREET 1: 7501 WISCONSIN AVENUE STREET 2: SUITE 1200E CITY: BETHESDA STATE: MD ZIP: 20814 8-K 1 d764777d8k.htm 8-K 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2014

 

 

Walker & Dunlop, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   001-35000   80-0629925

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

7501 Wisconsin Avenue

Suite 1200E

Bethesda, MD

  20814
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (301) 215-5500

Not applicable

(Former name or former address if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 2.02. Results of Operations and Financial Condition.

On July 29, 2014, Walker & Dunlop, Inc. (the “Company”) issued a press release (the “Press Release”) reporting that the aggregate amount of its loan servicing portfolio has exceeded $40 billion. To the extent that any of the information included in the Press Release would be deemed results of operations or financial condition for a completed quarterly fiscal period, the Press Release is furnished herewith as Exhibit 99.1 and is hereby incorporated by reference into this Item 2.02.

The information contained in this current report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

 

Exhibit
Number

  

Description

99.1    Press Release dated July 29, 2014


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

WALKER & DUNLOP, INC.

(Registrant)

Date: July 29, 2014     By:   /s/ Stephen P. Theobald
      Name: Stephen P. Theobald
      Title: Executive Vice President, Chief Financial Officer & Treasurer


EXHIBIT INDEX

 

Exhibit
Number

  

Description

99.1    Press Release dated July 29, 2014
EX-99.1 2 d764777dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

Walker & Dunlop Servicing Portfolio Surpasses $40 Billion Milestone

Bethesda, MD – July 29, 2014 – Walker & Dunlop, Inc. (NYSE: WD) (“the Company”) announced today that its loan servicing portfolio crossed over the $40 billion mark. The portfolio, comprised of over 4,300 commercial loans from across the United States, has an average loan term of over ten years with 84 percent of the servicing fees protected from the risk of prepayment through make-whole requirements. The mortgage servicing rights related to this portfolio had a fair value of $432 million at June 30, 2014.

Walker & Dunlop’s servicing portfolio has grown 473 percent since the end of 2008 due to strong organic loan originations as well as the acquisition of assets of Column Guaranteed LLC in 2009 and the acquisition of CWCapital LLC in 2012. Walker & Dunlop ended 2013 as the 8th largest commercial loan servicer in the country per the Mortgage Bankers Association.

“This is a huge milestone for our Company,” commented Chairman and CEO Willy Walker. “Servicing generates extremely stable, long-term revenue streams. We established a goal of generating 50 percent or more of our revenue from servicing and asset management fees by the end of 2017, and crossing the $40 billion mark is a significant step in achieving that goal. I would like to thank our servicing and asset management teams for their fantastic efforts and expertise that have allowed us to grow this portfolio dramatically while maintaining exceedingly low loan losses.”

The Company’s operating subsidiary, Walker & Dunlop, LLC, is a rated Primary Servicer, with ratings from Standard & Poor’s and Fitch. 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, CMBS issuers and others.

About Walker & Dunlop

Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) 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. 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 Proprietary Capital group develops new financial products and provides institutional advisory, asset management, and investment management services with respect to debt and equity, including bridge financing. Walker & Dunlop, LLC has more than 400 employees located nationwide. For more information about the Company, please visit www.walkerdunlop.com or follow us on Twitter at @Walkerdunlop.

Forward-Looking Statements

Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts.

The forward-looking statements contained in this press release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed or contemplated in any forward-looking statement.


 

LOGO

While forward-looking statements reflect our good faith projections, assumptions and expectations, they are not guarantees of future results. Furthermore, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law.

For a further discussion of the factors that could cause future results to differ materially from those expressed or contemplated in any forward-looking statements, see the section entitled ‘‘Risk Factors” in our most recent Annual Report on Form 10-K and in our subsequent SEC filings. Such filings are available publicly on our Investor Relations web page at www.walkerdunlop.com.

Contacts:

 

  Investors:    Media:
  Claire Harvey    Susan Weber
  Vice President, Investor Relations    Senior Vice President, Marketing
  Phone: 301/634-2143    Phone: 301/215-5515
  charvey@walkerdunlop.com    sweber@walkerdunlop.com

###

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