Moody's upgrades Walker & Dunlop

Moody's Investors Service said it upgraded Walker & Dunlop, Inc.'s senior secured loan and corporate family ratings to Ba2 from Ba3, concluding a review for upgrade that began in August.

The outlook is stable.

The upgrades reflect Walker & Dunlop's sustained, solid financial performance and the resilience of the company's financial profile to withstand a significant decline in its agency multi-family mortgage banking origination business, Moody's said.

The ratings also consider the company's solid franchise position, strong profitability, solid capital level and sound credit-risk management, the agency said.

Offsetting these positives is the company's high reliance on confidence-sensitive wholesale funding and mono-line focus on the commercial real estate finance market, Moody's said.

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