QUARTERLY RESULTS (UNAUDITED)

12 Months Ended

Dec. 31, 2019

QUARTERLY RESULTS (UNAUDITED)

Quarterly Results (Unaudited)

NOTE 16—QUARTERLY RESULTS (UNAUDITED)

The following tables set forth unaudited selected financial data and operating information on a quarterly basis as of and for the years ended December 31, 2019 and 2018:  

Selected Quarterly Financial Data	As of and for the year ended December 31, 2019
(in thousands, except per share data)	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Loan origination and debt brokerage fees, net	$	69,921	$	65,144	$	65,610	$	57,797
Fair value of expected net cash flows from servicing, net		47,771		50,785		41,271		40,938
Servicing fees		55,126		54,219		53,006		52,199
Total revenues		217,190		212,267		200,325		187,437
Personnel		97,082		93,057		84,398		71,631
Amortization and depreciation		39,552		37,636		37,381		37,903
Total expenses		159,216		152,952		143,347		131,353
Income from operations		57,974		59,315		56,978		56,084
Walker & Dunlop net income		42,916		44,043		42,196		44,218
Basic EPS	$	1.38	$	1.42	$	1.36	$	1.44
Diluted EPS		1.34		1.39		1.33		1.39
Total transaction volume	$	9,812,055	$	8,907,336	$	7,306,369	$	5,941,304
Servicing portfolio	$	93,225,169	$	91,754,499	$	89,897,025	$	87,691,682

Selected Quarterly Financial Data	As of and for the year ended December 31, 2018
(in thousands, except per share data)	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Loan origination and debt brokerage fees, net	$	71,078	$	59,594	$	55,193	$	48,816
Fair value of expected net cash flows from servicing, net		53,088		39,576		47,044		32,693
Servicing fees		52,092		50,781		49,317		48,040
Total revenues		214,933		184,657		178,204		147,452
Personnel		90,828		79,776		71,426		55,273
Amortization and depreciation		36,271		36,739		35,489		33,635
Total expenses		149,603		133,998		125,234		103,561
Income from operations		65,330		50,659		52,970		43,891
Walker & Dunlop net income		45,750		37,716		41,112		36,861
Basic EPS	$	1.47	$	1.20	$	1.31	$	1.18
Diluted EPS		1.41		1.15		1.26		1.14
Total transaction volume	$	9,353,456	$	7,651,791	$	6,193,023	$	4,849,262
Servicing portfolio	$	85,689,262	$	80,485,634	$	77,820,741	$	75,836,280