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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Loan origination and debt brokerage fees, net $ 446,014 $ 359,061 $ 258,471
Fair value of expected net cash flows from servicing, net 287,145 358,000 180,766
Servicing fees 278,466 235,801 214,550
Property sales broker fees. 119,981 38,108 30,917
Escrow earnings and other interest income 8,150 18,255 56,835
Other revenues 97,314 45,156 49,981
Total revenues 1,259,178 1,083,707 817,219
Expenses      
Personnel 603,487 468,819 346,168
Amortization and depreciation 210,284 169,011 152,472
Provision (benefit) for credit losses (13,287) 37,479 7,273
Interest expense on corporate debt 7,981 8,550 14,359
Other operating expenses 98,655 69,582 66,596
Total expenses 907,120 753,441 586,868
Income from operations 352,058 330,266 230,351
Income tax expense 86,428 84,313 57,121
Net income before noncontrolling interests 265,630 245,953 173,230
Less: net income (loss) from noncontrolling interests (132) (224) (143)
Walker and Dunlop net income 265,762 246,177 173,373
Net change in unrealized gains (losses) on pledged available-for-sale securities, net of taxes 590 1,231 812
Walker and Dunlop comprehensive income $ 266,352 $ 247,408 $ 174,185
Basic earnings per share (NOTE 12) $ 8.27 $ 7.85 $ 5.61
Diluted earnings per share (NOTE 12) $ 8.15 $ 7.69 $ 5.45
Basic weighted average shares outstanding 31,081 30,444 29,913
Diluted weighted average shares outstanding 31,533 31,083 30,815
Loans Held for Sale      
Revenues      
Net warehouse interest income $ 14,396 $ 17,936 $ 1,917
Loans Held for Investment      
Revenues      
Net warehouse interest income $ 7,712 $ 11,390 $ 23,782