BETHESDA, MD—Walker & Dunlop reported a banner third quarter with a net income of $15.1 million, or $0.47 per diluted share, compared to $8.1 million, or $0.23 per diluted share for the same period last year. Adjusted EBITDA for the third quarter 2014 was $20.7 million compared to $10.9 million for the third quarter 2013, a 90% increase. Total revenues came in at $98.1 million, up 33% from $73.7 million for the third quarter 2013.

Not surprisingly loan originations fueled this activity and here the company noted an important benchmark: at $3.1 billion, this quarter's volume was the highest ever in its history. "Our originations for the quarter increased by 77% year over year, outpacing the growth of the overall commercial real estate market that saw originations increase by 16% during the same period," Walker & Dunlop Chairman and CEO Willy Walker says in a prepared statement.

Interestingly, the volume of loans -- $2.3 billion -- originated with the GSEs for the quarter was up considerably over previous quarters, despite W&D's efforts to expand and diversify its lending platform. Loan origination with Fannie Mae and Freddie Mac for Q3 drove a 33% in the firm's total revenues, Walker noted.

The company just closed its acquisition of Johnson Capital, which will continue to fuel its origination activity.

Johnson Capital will add 34 loan originators to the Walker & Dunlop platform and more than double the size of its Capital Markets group.

Walker reports that commercial loan maturities are set to increase over 70% between 2014 and 2015.

Instant Insights /

W&D's Q3 Loan Origination Volume Highest Ever

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