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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Loan origination and debt brokerage fees, net $ 77,907 $ 65,610 $ 154,280 $ 123,407
Fair value of expected net cash flows from servicing, net 90,369 41,271 158,369 82,209
Servicing fees 56,862 53,006 112,296 105,205
Net warehouse interest income 9,401 6,411 14,896 13,432
Escrow earnings and other interest income 2,671 14,616 13,414 28,684
Other revenues 15,615 19,411 33,727 34,825
Total revenues 252,825 200,325 486,982 387,762
Expenses        
Personnel 106,920 84,398 196,445 156,029
Amortization and depreciation 42,317 37,381 82,079 75,284
Provision for credit losses 4,903 961 28,546 3,636
Interest expense on corporate debt 2,078 3,777 4,938 7,429
Other operating costs 13,069 16,830 31,159 32,322
Total expenses 169,287 143,347 343,167 274,700
Income from operations 83,538 56,978 143,815 113,062
Income tax expense 21,479 14,832 34,151 26,856
Net income before noncontrolling interests 62,059 42,146 109,664 86,206
Less: net income (loss) from noncontrolling interests   (50) (224) (208)
Walker and Dunlop net income 62,059 42,196 109,888 86,414
Other comprehensive income (loss), net of tax:        
Net change in unrealized gains and losses on pledged available-for-sale securities 1,430 666 (487) 967
Walker and Dunlop comprehensive income $ 63,489 $ 42,862 $ 109,401 $ 87,381
Basic earnings per share (NOTE 10) $ 1.98 $ 1.36 $ 3.52 $ 2.80
Diluted earnings per share (NOTE 10) $ 1.95 $ 1.33 $ 3.44 $ 2.72
Basic weighted average shares outstanding 30,352 29,985 30,288 29,834
Diluted weighted average shares outstanding 30,860 30,744 30,960 30,720