Walker & Dunlop Completes Acquisition of Elkins Mortgage
BETHESDA, Md., Nov. 28, 2016
BETHESDA, Md., Nov. 28, 2016 /PRNewswire/ — Walker & Dunlop, Inc. (NYSE: WD) announced today that it successfully completed its previously announced acquisition of George Elkins Mortgage Banking Company (Elkins), one of the country’s premier and largest remaining independent mortgage brokers. Elkins has served as the direct loan origination arm for an array of life insurance companies, banks, trusts, pension funds, thrifts and other private capital sources since 1922.
The acquisition of Elkins adds three new offices to Walker & Dunlop in the state of California, and 14 commercial real estate originators will join the Company’s Capital Markets group. As part of the transaction, approximately $1.2 billion in life insurance company servicing was added to Walker & Dunlop’s $60 billion servicing portfolio.
About Walker & Dunlop
Walker & Dunlop, Inc. (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 500 professionals in 24 offices across the nation with an unyielding commitment to client satisfaction.
Forward Looking Statements
Some of the statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expected benefits of our acquisition of Elkins. The forward-looking statements contained in this press release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed or contemplated in any forward-looking statement. While forward-looking statements reflect our good faith projections, assumptions and expectations, they are not guarantees of future results. Furthermore, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law. Factors that could cause our results to differ materially include, but are not limited to: (1) general economic conditions and multifamily and commercial real estate market conditions; and (2) our ability to successfully integrate Elkins’ loan originators into our business. For a further discussion of these and other factors that could cause future results to differ materially from those expressed or contemplated in any forward-looking statements, see the section titled ”Risk Factors” in our most recent Annual Report on Form 10-K and in our subsequent SEC filings. Such filings are available publicly on our Investor Relations web page at www.walkerdunlop.com.
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SOURCE Walker & Dunlop, Inc.