Walker & Dunlop, Inc. (NYSE: WD) announced today its Dallas, Texas office is now an approved branch office under Freddie Mac’s Program Plus® network. Walker & Dunlop is now eligible to sell Freddie Mac loans secured by multifamily properties in Texas along with 22 other states across the United States and the District of Columbia.
Walker & Dunlop has had substantial growth with Freddie Mac, moving from 1% of Freddie Mac’s annual originations in 2009 to 10% in 2014, making Walker & Dunlop the third largest Freddie Mac Program Plus Seller® in 2014. Walker & Dunlop’s first quarter 2015 loan originations of $1.674 billion accounted for 16.7% of Freddie Mac’s quarterly originations.
“We are pleased that Freddie Mac selected Walker & Dunlop to partner with them in Texas,” commented Howard W. Smith, president of Walker & Dunlop. “We had a provisional license with Freddie Mac in Texas, and due to the strength of our loan originations across the state; we have now obtained full Seller/Servicer status. Texas was the last major state in the country where Walker & Dunlop was not a fully licensed lender with Freddie Mac, and with this license, we can effectively lend across the country in every major market. We are extremely pleased with this license and the significant growth of our partnership with Freddie Mac,” added Smith.
John Cannon, senior vice president of Freddie Mac Multifamily, added, “We are pleased to expand our partnership with Walker & Dunlop and look forward to serving the nationwide multifamily community with them.”
Walker & Dunlop provides financing for the acquisition, refinance and rehabilitation of multifamily communities throughout the country. Freddie Mac’s flexible product lines deliver numerous financing solutions including conventional fixed-rate mortgages, adjustable-rate mortgages, Freddie Mac Student Housing MortgagesSM, seniors housing mortgages and credit facilities.