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Bethesda firm acquires $3.8B servicing portfolio

Bethesda-based Walker & Dunlop Inc. has agreed to buy the commercial mortgage servicing rights on a $3.8 billion servicing portfolio.

The company will purchase the portfolio from Oppenheimer Multifamily Housing & Healthcare Finance Inc., a subsidiary of Oppenheimer Holdings Inc., for about $45 million with available capital.

“In 2012, Walker & Dunlop set a goal to increase the proportion of revenues that comes from servicing and other non-transaction based fees. Over the past several years, the servicing portfolio has seen steady growth with the value of its revenue streams becoming increasingly apparent in the financial stability and flexibility provided to the business. The opportunity to acquire a portfolio of this size is rare and our strong cash position allowed us to move quickly to accelerate the accomplishment of our goal,” Walker & Dunlop’s Chief Financial Officer Stephen Theobald, said in a news release.

The acquisition makes Walker & Dunlop the nation’s largest HUD multifamily/health care servicer in the nation.