June 8, 2016 Comments Off on Walker & Dunlop Spends $45M on Mortgage Servicing Rights Views: 457 California News, Maryland, National News, Northeast

Walker & Dunlop Spends $45M on Mortgage Servicing Rights

Bethesda, MD-based commercial real estate finance company Walker & Dunlop has agreed to purchase the commercial mortgage rights associated with a servicing portfolio of Oppenheimer Holdings Inc.

The $45 million transaction, expected to close by June 20, is worth approximately $3.8 billion, and contains more than 480 multifamily and healthcare loans insured by the U.S. Department of Housing and Urban Development (HUD).

“In 2012, Walker & Dunlop set a goal to increase the proportion of revenues that comes from servicing and other non-transaction based fees, said Stephen Theobald, Walker & Dunlop’s chief financial officer. “The opportunity to acquire a portfolio of this size is rare and our strong cash position allowed us to move quickly to accelerate the accomplishment of our goal.”

Read More at PR Newswire

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