Walker & Dunlop, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Walker & Dunlop, Inc. filed its 2023 10-K report detailing financial performance and business operations.</b>

AI Summary

Walker & Dunlop, Inc. (WD) filed a Annual Report (10-K) with the SEC on February 22, 2024. Walker & Dunlop, Inc. reported its 2023 fiscal year-end results on February 22, 2024. The company's business address is 7272 Wisconsin Avenue, Suite 1300, Bethesda, MD 20814. The filing is a 10-K report for the fiscal year ending December 31, 2023. The company is classified under SIC code 6199 for Finance Services. The filing includes references to Fannie Mae DUS Program Member and Risk Sharing Obligations.

Why It Matters

For investors and stakeholders tracking Walker & Dunlop, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Walker & Dunlop's financial health and strategic positioning for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial data and risk factors disclosed in this report are essential for understanding the company's operational landscape, particularly its involvement with programs like the Fannie Mae DUS Program and its risk-sharing obligations.

Risk Assessment

Risk Level: medium — Walker & Dunlop, Inc. shows moderate risk based on this filing. The company's financial performance is subject to market conditions and regulatory changes within the finance services sector, as indicated by its SIC code and references to specific financial programs.

Analyst Insight

Investors should review the detailed financial statements and risk factor disclosures in the 10-K to understand Walker & Dunlop's performance and potential risks in the current market environment.

Key Numbers

• 2023-12-31 — Fiscal Year End (20231231)
• 2024-02-22 — Filed As Of Date (20240222)
• 001-35000 — SEC File Number (SEC FILE NUMBER)
• 32396000 — Value (P6M)
• 32874000 — Value (P6M)
• 14700000 — Value (P48M)
• 48000000 — Value (P48M)
• 0 — Value (P12M)

Key Players & Entities

• Walker & Dunlop, Inc. (company) — FILER
• BETHESDA (company) — CITY
• MD (company) — STATE
• 0001497770 (company) — CENTRAL INDEX KEY
• 6199 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• Fannie Mae (company) — wd:FannieMaeDUSProgramMember
• 2023-12-31 (date) — FISCAL YEAR END
• 2024-02-22 (date) — FILED AS OF DATE

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-22: Filing Date — Date the 10-K report was officially filed with the SEC.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 Par Value Per Share WD New York Sto

Filing Documents

• wd-20231231x10k.htm (10-K) — 5587KB
• wd-20231231xex21.htm (EX-21) — 67KB
• wd-20231231xex23.htm (EX-23) — 7KB
• wd-20231231xex31d1.htm (EX-31.1) — 18KB
• wd-20231231xex31d2.htm (EX-31.2) — 18KB
• wd-20231231xex32.htm (EX-32) — 11KB
• wd-20231231xex97d1.htm (EX-97.1) — 28KB
• wd-20231231x10k001.jpg (GRAPHIC) — 9KB
• wd-20231231x10k003.jpg (GRAPHIC) — 51KB
• 0001558370-24-001538.txt (&nbsp;) — 22233KB
• wd-20231231.xsd (EX-101.SCH) — 100KB
• wd-20231231_cal.xml (EX-101.CAL) — 114KB
• wd-20231231_def.xml (EX-101.DEF) — 507KB
• wd-20231231_lab.xml (EX-101.LAB) — 893KB
• wd-20231231_pre.xml (EX-101.PRE) — 739KB
• wd-20231231x10k_htm.xml (XML) — 5199KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6. [Reserved] 27 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 58 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 58 Item 9A.

Controls and Procedures

Controls and Procedures 58 Item 9B. Other Information 58 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 58 PART III Item 10. Directors, Executive Officers, and Corporate Governance 59 Item 11.

Executive Compensation

Executive Compensation 59 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 59 Item 13. Certain Relationships and Related Transactions, and Director Independence 59 Item 14. Principal Accountant Fees and Services 59 PART IV Item 15. Exhibit and Financial Statement Schedules 59 Item 16. Form 10-K Summary 66 Table of Contents PART I

Forward-Looking Statements

Forward-Looking Statements Some of the statements in this Annual Report on Form 10-K of Walker & Dunlop, Inc. and subsidiaries (the "Company," "Walker & Dunlop," "we," "us", or "our"), may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, or intentions. The forward-looking statements contained in this Annual Report on Form 10-K 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. Statements regarding the following subjects, among others, may be forward looking: the future of the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac," and together with Fannie Mae, the "GSEs"), including their existence, relationship to the U.S. federal government, origination capacities, and their impact on our business; changes to and trends in the interest rate environment and its impact on our business; our growth strategy; our projected financial condition, liquidity, and results of operations; our ability to obtain and maintain warehouse and other loan-funding arrangemen

Busines s

Item 1. Busines s General We are a leading commercial real estate (i) services, (ii) finance, and (iii) technology company in the United States. Through investments in people, brand, and technology, we have built a diversified suite of commercial real estate services to meet the needs of our customers. Our services include (i) multifamily lending, property sales, appraisal, valuation, and research, (ii) commercial real estate debt brokerage and advisory services, (iii) investment management, and (iv) affordable housing lending, tax credit syndication, development, and investment. We leverage our technological resources and investments to (i) provide an enhanced experience for our customers, (ii) identify refinancing and other financial and investment opportunities for new and existing customers, and (iii) drive efficiencies in our internal processes. We believe our people, brand, and technology provide us with a competitive advantage, as evidenced by 69% of refinancing volumes coming from new loans to us and 22% of total transaction volumes coming from new customers for the year ended December 31, 2023. We are one of the largest service providers to multifamily operators in the country. We originate, sell, and service a range of multifamily and other commercial real estate financing products, including loans through the programs of the GSEs, and the Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development (together with Ginnie Mae, "HUD") (collectively, the "Agencies"). We retain servicing rights and asset management responsibilities on substantially all loans that we originate for the Agencies' programs. We broker, and occasionally service, loans to commercial real estate operators for many life insurance companies, commercial banks, and other institutional investors, in which cases we do not fund the loan but rather act as a loan broker. We provide multifamily property sales brokerage and appraisal and valuation se

View Full Filing

View this 10-K filing on SEC EDGAR