Walker & Dunlop LLC, a commercial mortgage lender based in Bethesda, Md., reported 4Q12 net earnings of $11.5 million and full-year net income of $33.8 million.
For the same periods in 2011, it had profits of $11 billion and $34.9 billion, respectively.
The company ended the year with loan originations of $7.1 billion (a 76% increase over 2011) and a servicing portfolio of $35.2 billion (more than double the $16.8 billion at the end of 2011).
During the year, the company acquired CW Capital and if the eight months in which the latter operated independently was included, total loan production amounted to $9.5 billion.
Loan origination fees were $93.9 million for 2012, up from $48.4 million the prior year. Walker & Dunlop finished 2012 as the
Servicing fees earned in 2012 totaled $52.2 million, up 55% from 2011’s $33.6 million. As of Dec. 31, 2012, the company had a total of $19.7 million of loans which were 60 days or more delinquent.
Chairman & CEO Wally Walker said, "As the economy recovers and the financing markets heat up, there is a fantastic opportunity for us to continue growing in a fast, yet measured and risk-appropriate manner.
“As we have said before, we expect to originate between $10 billion and $12 billion in commercial real estate loans during 2013, with $1.9 billion to $2.4 billion originated during the first quarter, compared to $674 million of originations in the first quarter 2012."
