Walker & Dunlop Inc 2025年季度报告

FORM10-Q Walker&Dunlop, Inc. Not Applicable(Former name, former address, and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: New York Stock Exchange Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was requiredto file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for suchshorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large Accelerated Filer☒Smaller ReportingCompany☐Accelerated Filer☐Emerging GrowthCompany☐Non-accelerated Filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ As of July 31, 2025, there were34,069,118total shares of common stock outstanding. Walker & Dunlop, Inc.Form10-QINDEX PART IFINANCIAL INFORMATION3Item1.Financial Statements3Item2.Management's Discussion and Analysis of Financial Condition and Results ofOperations30Item 3.Quantitative and Qualitative Disclosures About Market Risk63Item 4.Controls and Procedures64PART IIOTHER INFORMATION64Item1.Legal Proceedings64Item1A.Risk Factors64Item2.Unregistered Sales of Equity Securities and Use of Proceeds64Item 3.Defaults Upon Senior Securities65Item 4.Mine Safety Disclosures65Item 5.Other Information65Item6.Exhibits66Signatures67 PART IFINANCIAL INFORMATION Walker & Dunlop, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(In thousands, except per share data)(Unaudited) Cash and cash equivalents$233,712$279,270Restricted cash41,09025,156Pledged securities, at fair value218,435206,904Loans held for sale, at fair value1,177,837780,749Mortgage servicing rights817,814852,399Goodwill868,710868,710Other intangible assets149,385156,893Receivables, net360,646335,879Committed investments in tax credit equity194,479313,230Other assets612,932562,803Total assets$4,675,040$4,381,993 Walker & Dunlop, Inc. and SubsidiariesCondensed Consolidated Statements of Income and Comprehensive Income(In thousands, except per share data)(Unaudited) Walker & Dunlop, Inc. and SubsidiariesConsolidated Statements of Changes in Equity(In thousands, except per share data)(Unaudited) Walker & Dunlop, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(In thousands)(Unaudited) Cash flows from operating activitiesNet income before noncontrolling interests Capital expenditures$(6,195)$(7,056)Purchases of equity-method investments(16,792)(11,537)Purchases of pledged available-for-sale ("AFS") securities(21,989)(20,900)Proceeds from prepayment and sale of pledged AFS securities4,5473,577Originations and repurchase of loans held for investment(24,381)(13,469)Principal collected on loans held for investment—16,580Other investing activities, net2,8843,194Net cash provided by (used in) investing activities$(61,926)$(29,611) NOTE 1—ORGANIZATION AND BASIS OF PRESENTATION These financial statements represent the condensed consolidated financial position and results of operations ofWalker& Dunlop, Inc. and its subsidiaries. Unless the context otherwise requires, references to “Walker & Dunlop” andthe “Company” mean the Walker& Dunlop consolidated companies. The statements have been prepared in conformitywith U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions toForm 10-Q and Regulation S-X. Accordingly, they may not include certain financial statement disclosures and otherinformation required for annual financial statements. The accompanying condensed consolidated financial statementsshould be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report onForm 10-K for the year ended December31,2024 (the “2024 Form 10-K”). In the opinion of management, all adjustmentsconsidered necessary for a fair presentation of the results for the Company in the interim periods presented have beenincluded. Results of operations for the three and six months