BETHESDA, MD—Walker & Dunlop has closed its acquisition of Johnson Capital's loan origination and servicing platform, which it announced a month ago.
The transaction is expected to expand W&D's relationships with life insurers, banks, CMBS conduits and possibly open the door to Ginnie Mae business. The transaction also brings in house some $590 million in HUD servicing, a significant increase to Walker & Dunlop's $40 billion servicing portfolio.
This array of service and capabilities will position Walker & Dunlop to take advantage of the wave refi activity expected in the coming years.
"The addition of these talented originators and their collective experience furthers Walker & Dunlop's strategic goal of expanding our capital markets platform," says Howard Smith, Walker & Dunlop's EVP and COO.
Johnson Capital has sourced billions of dollars of Fannie Mae DUS loans as a correspondent to Walker & Dunlop over the past 20 years, Walker & Dunlop Chairman and CEO Willy Walker said when the deal was first announced. Over the past three years, Johnson Capital has originated $1.3 billion in commercial loans on average.
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