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Walker Dunlop, Inc. (WD) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

SEC Filings

Walker Dunlop, Inc.

CIK: 1497770 Ticker: WD

Exhibit 99.1

Graphic

Walker & Dunlop Reports 67% Growth in Transaction Volume

As Revenue Grows 21% to $341 Million

SECOND QUARTER 2022 HIGHLIGHTS

Total transaction volume of $22.5 billion, up 67% from Q2’21
Total revenues of $340.8 million, up 21% from Q2’21
Net income of $54.3 million and diluted earnings per share of $1.61, down 3% and 7%, respectively, from Q2’21
Adjusted EBITDA1 of $94.8 million, up 43% from Q2’21
Servicing portfolio of $119.0 billion at June 30, 2022 up 6% from June 30, 2021
Declared quarterly dividend of $0.60 per share for the third quarter

YEAR-TO-DATE 2022 HIGHLIGHTS

Total transaction volume of $35.2 billion, up 56% from 2021
Total revenues of $660.3 million, up 31% from 2021
Net income of $125.5 million and diluted earnings per share of $3.73, up 10% and 6%, respectively, from 2021
Adjusted EBITDA1 of $157.5 million, up 24% from 2021

BETHESDA, MD – August 4, 2022 Walker & Dunlop, Inc. (NYSE: WD) (the “Company” or “W&D”) reported total revenues of $340.8 million for the second quarter of 2022, an increase of 21% year over year. Second quarter total transaction volume was $22.5 billion, up 67% year over year, reflecting the Company’s expanding brand and ability to meet more of its client’s needs. Net income for the second quarter of 2022 was $54.3 million or $1.61 per diluted share, down 3% and 7%, respectively, from the second quarter of 2021, predominantly due to a decrease in non-cash mortgage servicing rights revenues. Second quarter 2022 adjusted EBITDA1 was $94.8 million, up 43% over the same period in 2021, driven by growth in cash revenues from services businesses. The Company’s Board of Directors declared a dividend of $0.60 per share for the third quarter of 2022. The Company had $151.3 million of cash as of June 30, 2022.

“Our exceptional second quarter financial results demonstrate the strong return on investment we’ve made in our people, brand, and technology over the past few years,” commented Willy Walker, Chairman and CEO. “The dramatic growth in our origination volume led to adjusted EBITDA growth of 43% year over year, reflecting our transition from a lending-centric mortgage bank to a broader, technology-enabled financial services company.”

Mr. Walker continued, “The multifamily market continues to perform exceptionally well from a credit and fundamentals standpoint. W&D enters the second half of 2022 with very strong pipelines across our business, particularly with the GSEs and HUD which supply counter-cyclical liquidity as other capital providers struggle to digest rising rates and recessionary fears. Walker & Dunlop’s business model is designed to perform through all cycles, with outperformance in both the pandemic-hobbled year of 2020 and Fed-induced free money year of 2021 as two dramatically different examples. The investments we’ve made in people, brand and technology have made us more relevant to our clients today than ever before, driving dramatic growth in our banking and brokerage volumes. The breadth of our platform, investments we continue to make in emerging, technologically-driven businesses, and corporate culture set us apart from the competition and will continue to drive financial success over the coming years.”

1


The following information was filed by Walker Dunlop, Inc. (WD) on Thursday, August 4, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Walker Dunlop, Inc.'s management team is paid from their Annual Proxy

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Walker Dunlop, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
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Inside Walker Dunlop, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Income And Comprehensive Income
Allowance For Risk-Sharing Obligations And Guaranty Obligation
Allowance For Risk-Sharing Obligations And Guaranty Obligation (Tables)
Allowance For Risk-Sharing Obligations And Guaranty Obligation - Schedule Of Activity Related To Guaranty Obligation (Detail)
Allowance For Risk-Sharing Obligations And Guaranty Obligation - Summary Of Allowance For Risk-Sharing Obligations (Detail)
Earnings Per Share And Stockholders Equity
Earnings Per Share And Stockholders Equity (Tables)
Earnings Per Share And Stockholders Equity - Basic And Diluted Eps (Detail)
Earnings Per Share And Stockholders Equity - Noncash Transactions (Details)
Earnings Per Share And Stockholders' Equity - Restricted Stock Awards And Share Repurchases (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - General Information (Detail)
Fair Value Measurements - Schedule Of Carrying Amounts And The Fair Values Of The Company's Financial Instruments (Detail)
Fair Value Measurements - Schedule Of Fair Value Of Derivative Instruments And Loans Held For Sale (Detail)
Fair Value Measurements - Schedule Of Roll Forward Of Derivative Instruments (Detail)
Fair Value Measurements - Schedule Of Significant Unobservable Inputs Used In The Measurement Of The Fair Value Of Level 3 Assets And Liabilities (Detail)
Fair Value Measurements - Summary Of Financial Assets And Financial Liabilities Measured At Fair Value On A Recurring Basis (Detail)
Fannie Mae Commitments And Pledged Securities
Fannie Mae Commitments And Pledged Securities (Tables)
Fannie Mae Commitments And Pledged Securities - Agency Multifamily Mortgage Based Securities Pledged Securities (Detail)
Fannie Mae Commitments And Pledged Securities - Commitments (Detail)
Fannie Mae Commitments And Pledged Securities - Pledged Securities At Fair Value (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Acquisitions (Detail)
Goodwill And Other Intangible Assets - Contingent Consideration Liabilities (Detail)
Goodwill And Other Intangible Assets - Goodwill By Reportable Segment (Details)
Goodwill And Other Intangible Assets - Other Intangible Assets (Details)
Goodwill And Other Intangible Assets - Schedule Of Expected Amortization Of Other Intangible Assets (Details)
Goodwill And Other Intangible Assets - Schedule Of Goodwill (Detail)
Mortgage Servicing Rights
Mortgage Servicing Rights (Tables)
Mortgage Servicing Rights - Fair Value Disclosures (Detail)
Mortgage Servicing Rights - Schedule Of Activity Related To Msrs (Detail)
Mortgage Servicing Rights - Schedule Of Expected Amortization Of Msrs (Detail)
Mortgage Servicing Rights - Summary Of Components Of Net Carrying Value Of Acquired And Originated Msrs (Detail)
Organization And Basis Of Presentation
Segments
Segments (Detail)
Segments (Tables)
Servicing
Servicing - (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Cash Flows (Detail)
Summary Of Significant Accounting Policies - Contracts With Customers (Detail)
Summary Of Significant Accounting Policies - Derivative Assets And Liabilities (Details)
Summary Of Significant Accounting Policies - Income Taxes (Detail)
Summary Of Significant Accounting Policies - Loans Held-For-Investment, Net (Detail)
Summary Of Significant Accounting Policies - Net Warehouse Interest Income (Detail)
Summary Of Significant Accounting Policies - Provision For Credit Losses (Details)
Variable Interest Entities
Variable Interest Entities (Details)
Variable Interest Entities (Tables)
Warehouse Notes Payable
Warehouse Notes Payable (Tables)
Warehouse Notes Payable - Covenants And Terms (Detail)
Warehouse Notes Payable - Summary Information (Detail)

Material Contracts, Statements, Certifications & more

Walker Dunlop, Inc. provided additional information to their SEC Filing as exhibits

Ticker: WD
CIK: 1497770
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-22-016994
Submitted to the SEC: Wed Nov 09 2022 6:09:30 AM EST
Accepted by the SEC: Wed Nov 09 2022
Period: Friday, September 30, 2022
Industry: Finance Services

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