WASHINGTON, DC-Walker & Dunlop delivered strong second quarter results for 2011, reporting revenues of $42.4 million and net income of $11.1 million. As part of the company’s activities, it originated more than $1.3 billion in loans--compared to $672 million for the second quarter of 2010, an eye-popping 95% increase. “The favorable market conditions and our ability to execute have led to expansion of our loan origination platform, additional servicing revenues, and completion of several strategic initiatives,” said CEO and chairman Willy Walker during the earnings call.
The company has established a third quarter 2011 guidance of $750 million to $1.1 billion. Walker & Dunlop is also reaffirming its loan origination guidance of $3.5 billion to $4.25 billion for the year.
Among the initiatives W&D developed this past quarter was a partnership with Cushman & Wakefield to provide clients with bundled investment sales and financing products. The alliance was a first for Walker & Dunlop. W&D went public at the end of last year.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
