Walker & Dunlop (WD) Closes Elkins Acquisition
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Walker & Dunlop, Inc. (NYSE: WD) announced that it successfully completed its previously announced acquisition of George Elkins Mortgage Banking Company (Elkins), one of the country's premier and largest remaining independent mortgage brokers. 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 acquisition of Elkins adds three new offices to Walker & Dunlop in the state of California, and 14 commercial real estate originators will join the Company's Capital Markets group. As part of the transaction, approximately $1.2 billion in life insurance company servicing was added to Walker & Dunlop's $60 billion servicing portfolio.
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