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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Loan origination and debt brokerage fees, net $ 83,825 $ 65,144 $ 238,105 $ 188,550
Fair value of expected net cash flows from servicing, net 78,065 50,785 236,434 132,995
Servicing fees 60,265 54,219 172,561 159,424
Net warehouse interest income 7,558 6,172 22,454 19,604
Escrow earnings and other interest income 2,275 15,163 15,689 43,847
Other revenues 15,028 20,784 48,755 55,609
Total revenues 247,016 212,267 733,998 600,029
Expenses        
Personnel 114,548 93,057 310,993 249,086
Amortization and depreciation 41,919 37,636 123,998 112,920
Provision (benefit) for credit losses 3,483 (772) 32,029 2,864
Interest expense on corporate debt 1,786 3,638 6,724 11,067
Other operating costs 16,165 19,393 47,324 51,715
Total expenses 177,901 152,952 521,068 427,652
Income from operations 69,115 59,315 212,930 172,377
Income tax expense 15,925 15,246 50,076 42,102
Net income before noncontrolling interests 53,190 44,069 162,854 130,275
Less: net income (loss) from noncontrolling interests   26 (224) (182)
Walker and Dunlop net income 53,190 44,043 163,078 130,457
Net change in unrealized gains and losses on pledged available-for-sale securities, net of taxes 1,219 123 731 1,090
Walker and Dunlop comprehensive income $ 54,409 $ 44,166 $ 163,809 $ 131,547
Basic earnings per share (NOTE 10) $ 1.69 $ 1.42 $ 5.21 $ 4.22
Diluted earnings per share (NOTE 10) $ 1.66 $ 1.39 $ 5.11 $ 4.11
Basic weighted average shares outstanding 30,560 29,987 30,379 29,885
Diluted weighted average shares outstanding 31,074 30,782 30,995 30,742