Walker & Dunlop, Inc. has acquired George Elkins Mortgage Banking Company, one of the largest remaining independent mortgage brokers in the US. Elkins has served as the direct loan origination arm for an array of life insurance companies, banks, trusts, pension funds, thrifts and other private capital sources since 1922. The buyout will add three new offices to Walker & Dunlop in California, and 14 commercial real estate originators will join the company’s capital markets group. As part of the transaction, approximately $1.2bn in life insurance company servicing was added to Walker & Dunlop’s $60bn servicing portfolio.
