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.