BETHESDA, Md., Feb. 3, 2014 /PRNewswire/ -- Walker & Dunlop, Inc. (the "Company") (NYSE: WD) announced today that for the second consecutive year it was ranked as the largest Fannie Mae DUS® Lender. Walker & Dunlop has been a DUS lender since the program's inception in 1988 and has grown from the #10 lender in 2007 to the #1 lender today. During 2013, the Company originated $2.8 billion in multifamily loans for Fannie Mae.
"What a fantastic accomplishment to be ranked #1 for the second year in a row," commented Willy Walker, Chairman, President and CEO. "Our 2012 ranking was thanks to the combination of Walker & Dunlop and CWCapital. 2013, however, is all us -- an integrated, focused corporation with outstanding execution on behalf of our customers. Fannie Mae is the largest provider of capital to the multifamily industry, and we are honored to be their largest DUS lender for the second year in a row."
According to the release from Fannie Mae, 99 percent of the $28.8 billion provided to the multifamily market in 2013 was delivered through the DUS lender network. The DUS program, which stands for Delegated Underwriting and Servicing, is unique in that private lenders originate multifamily loans for Fannie Mae and retain the first loss position in the loans. The DUS program maintained extremely low default rates throughout the financial crisis, and when there are loan losses, private capital, not Fannie Mae, pays first.
Walker & Dunlop was also ranked as the fourth largest originator of loans on Affordable Housing for Fannie Mae in 2013. "Although 2013 brought down the unemployment rate across the country, there was no real wage growth for American workers," continued Mr. Walker. "We are extremely pleased to be one of the largest Fannie Mae DUS lenders on Affordable Housing at a time when it is so greatly needed."