Walker & Dunlop has announced the closing of a deal to acquire a $3.8 billion commercial mortgage servicing portfolio from a subsidiary of Oppenheimer Holdings for $44.6 million. The portfolio encompasses 480 permanent loans insured by the U.S. Department of Housing and Urban Development (HUD). Annual servicing revenue from the acquisition is projected to be approximately $6.4 million. Of the 480 loans, 361 loans are secured by multifamily properties with the remainder secured by senior housing and healthcare properties. The portfolio is spread throughout 43 states, the District of Columbia and the U.S. Virgin Islands. Walker & Dunlop’s HUD servicing portfolio is projected to exceed $9.3 billion at the end of Q2 2016, making it the largest servicer of HUD Multifamily/Healthcare loans in the United States.
