Walker & Dunlop, one of the nation’s largest commercial real estate lenders, saw its first-quarter origination volume increase 157% on a year-over-year basis. However, executives noted that the total volume of $1.73 billion was below its guidance of between $1.9 billion and $2.4 billion.
It is blaming the federal government’s delay in passing a continuing budget resolution which in turn impacted the Department of Housing and Urban Development’s ability to issue new loan commitments in March.
The increase can be attributed in part
Walker & Dunlop’s year-over-year increase in loans for HUD/Ginnie Mae was only 31% (to $147 million), whereas the increase for Fannie Mae program loans was 185% (to $763 million) and for Freddie Mac loans it was 509% (to $515 million). The remaining $306 million in 1Q13 volume was for other investors such as life companies, commercial banks and conduits.
Last year, Walker & Dunlop was the No. 1
The first quarter is traditionally Walker & Dunlop's lightest quarter. Going forward, Willy Walker, chairman and chief executive, said, “Our loan pipeline is very strong and we feel confident in our ability to execute on our annual business plan and originate $10 billion to $12 billion in loans.”
