SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2022

SEGMENTS

Schedule of Segment Results and Total Assets

	For the three months ended September 30, 2022
Segment Results			Servicing &
(in thousands)	Capital		Asset
	Markets		Management		Corporate		Consolidated
Revenues
Loan origination and debt brokerage fees, net	$	89,752	$	1,106	$	—	$	90,858
Fair value of expected net cash flows from servicing, net		55,291		—		—		55,291
Servicing fees		—		75,975		—		75,975
Property sales broker fees		30,308		—		—		30,308
Investment management fees		—		16,301		—		16,301
Net warehouse interest income		2,178		1,802		—		3,980
Escrow earnings and other interest income		—		17,760		369		18,129
Other revenues		5,845		21,544		(2,620)		24,769
Total revenues	$	183,374	$	134,488	$	(2,251)	$	315,611
Expenses
Personnel	$	125,980	$	21,676	$	9,403	$	157,059
Amortization and depreciation		952		57,239		1,655		59,846
Provision (benefit) for credit losses		—		1,218		—		1,218
Interest expense on corporate debt		—		—		9,306		9,306
Other operating expenses		6,063		6,043		21,885		33,991
Total expenses	$	132,995	$	86,176	$	42,249	$	261,420
Income from operations	$	50,379	$	48,312	$	(44,500)	$	54,191
Income tax expense (benefit)		12,751		12,110		(17,329)		7,532
Net income before noncontrolling interests	$	37,628	$	36,202	$	(27,171)	$	46,659
Less: net income (loss) from noncontrolling interests		—		(174)		—		(174)
Walker & Dunlop net income	$	37,628	$	36,376	$	(27,171)	$	46,833

	For the three months ended September 30, 2021
Segment Results			Servicing &
(in thousands)	Capital		Asset
	Markets		Management		Corporate		Consolidated
Revenues
Loan origination and debt brokerage fees, net	$	121,133	$	2,109	$	—	$	123,242
Fair value of expected net cash flows from servicing, net		89,482		—		—		89,482
Servicing fees		—		70,628		—		70,628
Property sales broker fees		33,677		—		—		33,677
Investment management fees		—		2,564		—		2,564
Net warehouse interest income		3,723		1,860		—		5,583
Escrow earnings and other interest income		—		1,945		87		2,032
Other revenues		3,026		16,724		(668)		19,082
Total revenues	$	251,041	$	95,830	$	(581)	$	346,290
Expenses
Personnel	$	139,890	$	10,446	$	19,845	$	170,181
Amortization and depreciation		17		52,388		1,093		53,498
Provision (benefit) for credit losses		—		1,266		—		1,266
Interest expense on corporate debt		—		—		1,766		1,766
Other operating expenses		4,628		3,199		17,009		24,836
Total expenses	$	144,535	$	67,299	$	39,713	$	251,547
Income from operations	$	106,506	$	28,531	$	(40,294)	$	94,743
Income tax expense (benefit)		25,660		7,040		(9,747)		22,953
Net income before noncontrolling interests	$	80,846	$	21,491	$	(30,547)	$	71,790
Less: net income (loss) from noncontrolling interests		—		69		—		69
Walker & Dunlop net income	$	80,846	$	21,422	$	(30,547)	$	71,721

	As of and for the nine months ended September 30, 2022
Segment Results and Total Assets			Servicing &
(in thousands)	Capital		Asset
	Markets		Management		Corporate		Consolidated
Revenues
Loan origination and debt brokerage fees, net	$	273,660	$	2,113	$	—	$	275,773
Fair value of expected net cash flows from servicing, net		159,970		—		—		159,970
Servicing fees		—		222,916		—		222,916
Property sales broker fees		100,092		—		—		100,092
Investment management fees		—		47,345		—		47,345
Net warehouse interest income		9,415		4,606		—		14,021
Escrow earnings and other interest income		—		26,166		517		26,683
Other revenues		12,503		74,959		41,641		129,103
Total revenues	$	555,640	$	378,105	$	42,158	$	975,903
Expenses
Personnel	$	363,619	$	62,195	$	43,794	$	469,608
Amortization and depreciation		1,762		170,930		4,409		177,101
Provision (benefit) for credit losses		—		(13,120)		—		(13,120)
Interest expense on corporate debt		—		—		22,123		22,123
Other operating expenses		16,757		18,721		66,922		102,400
Total expenses	$	382,138	$	238,726	$	137,248	$	758,112
Income from operations	$	173,502	$	139,379	$	(95,090)	$	217,791
Income tax expense (benefit)		42,074		33,799		(29,378)		46,495
Net income before noncontrolling interests	$	131,428	$	105,580	$	(65,712)	$	171,296
Less: net income (loss) from noncontrolling interests		—		(1,032)		—		(1,032)
Walker & Dunlop net income	$	131,428	$	106,612	$	(65,712)	$	172,328
Total assets	$	3,016,153	$	2,621,380	$	365,480	$	6,003,013

	As of and for the nine months ended September 30, 2021
Segment Results and Total Assets			Servicing &
(in thousands)	Capital		Asset
	Markets		Management		Corporate		Consolidated
Revenues
Loan origination and debt brokerage fees, net	$	302,011	$	4,582	$	—	$	306,593
Fair value of expected net cash flows from servicing, net		209,266		—		—		209,266
Servicing fees		—		205,658		—		205,658
Property sales broker fees		65,173		—		—		65,173
Investment management fees		—		9,115		—		9,115
Net warehouse interest income		9,066		5,702		—		14,768
Escrow earnings and other interest income		—		5,712		260		5,972
Other revenues		8,721		28,381		(1,658)		35,444
Total revenues	$	594,237	$	259,150	$	(1,398)	$	851,989
Expenses
Personnel	$	332,519	$	27,004	$	48,294	$	407,817
Amortization and depreciation		556		145,161		3,162		148,879
Provision (benefit) for credit losses		—		(14,380)		—		(14,380)
Interest expense on corporate debt		—		—		5,291		5,291
Other operating expenses		11,628		8,056		42,487		62,171
Total expenses	$	344,703	$	165,841	$	99,234	$	609,778
Income from operations	$	249,534	$	93,309	$	(100,632)	$	242,211
Income tax expense (benefit)		58,014		21,693		(23,396)		56,311
Net income before noncontrolling interests	$	191,520	$	71,616	$	(77,236)	$	185,900
Less: net income (loss) from noncontrolling interests		—		69		—		69
Walker & Dunlop net income	$	191,520	$	71,547	$	(77,236)	$	185,831
Total assets	$	3,229,274	$	1,387,423	$	500,165	$	5,116,862