BETHESDA, MD-In terms of overall loan originations, Walker & Dunlop posted a strong Q1. It reports that loan originations of $1.73 billion, compared to $674 million in the first quarter of 2012, for a 157% increase.
Originations were below the company's first quarter guidance range of $1.9 billion to $2.4 billion largely due to the delay in the passage of the government's continuing budget resolution which restricted the Department of Housing and Urban Development's ability to issue new loan commitments in March.
Walker & Dunlop will establish second quarter origination guidance during its first quarter earnings call in early May, and is reaffirming its 2013 loan origination guidance of $10 to $12 billion.
"The first quarter is traditionally the lightest quarter for loan originations and I am pleased with our 157% year-on-year increase,” said Willy Walker, Walker & Dunlop's Chairman and Chief Executive Officer, in a prepared statement. He added that the company's loan pipeline is very strong and "we feel confident in our ability to execute on our annual business plan and originate $10 to $12 billion in loans."
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