BETHESDA, Md., Oct. 15, 2012 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) (the "Company") announced today it is now an approved Freddie Mac Program Plus® Seller/Servicer in 22 states plus the District of Columbia, representing significant expansion of the Company's Freddie Mac business. The additional territories, combined with the added scale from the CWCapital LLC ("CWCapital") acquisition, strengthen Walker & Dunlop's position as one of the largest and most competitive multifamily lenders in the country.
In connection with its recent acquisition of CWCapital, Walker & Dunlop acquired five additional Freddie Mac Program Plus® Seller/Servicer territories as well as expanded its Freddie Mac territories to include the entire states of New York, New Jersey, Connecticut and Pennsylvania, where both companies had limited territory approvals.
Separately, Walker & Dunlop was also recently granted new Freddie Mac Program Plus® Seller/Servicer territories in six states as a result of the Company's growth and additional market presence.
"We hired two fantastic origination teams during the second quarter of this year in Florida and Wisconsin and are very pleased Freddie Mac has given us the ability to partner with them in these two states," commented Howard W. Smith, Executive Vice President and Chief Operating officer of Walker & Dunlop. "The territories acquired in the CWCapital acquisition, combined with those newly approved by Freddie Mac, dramatically increase Walker & Dunlop's Freddie Mac lending footprint."As a Freddie Mac Program Plus® Seller/Servicer, Walker & Dunlop can provide financing for the acquisition, refinance and rehabilitation of apartment communities. Freddie Mac's flexible product lines deliver numerous financing solutions including Conventional Fixed-Rate Mortgages, ARMs, Student Housing, Seniors Housing Mortgages and Credit Facilities. Approved for specific geographic areas, Freddie Mac's Program Plus® Seller/Servicer network is a highly selective group of experienced multifamily lenders across the nation. Program Plus® Seller/Servicers must meet Freddie Mac standards for both origination and servicing of multifamily loans.