Walker & Dunlop, EagleBank Beef Up
Bethesda-based Walker & Dunlop just keeps getting bigger, doesn't it? The firm (here's CEO Willy Walker) announced this week it purchased the loan servicing and origination platform of mortgage company Johnson Capital, in a deal that bolsters W&D's HUD servicing platform. Willy says the deal also beefs up W&D's presence in the Southwest and West Coast—Johnson Capital is based in Southern California. On the HUD front, the deal adds $600M in servicing to W&D's already ample $40B portfolio. The two firms worked on many deals in the past, Willy says. The deal is expected to close in November.
Another Bethesda-based financier with big real estate ties, EagleBank, is off and running with a recent acquisition, its buy earlier this year of Virginia Heritage Bank. The purchase, scheduled to close in Q4, adds $1B to EagleBank's already robust book of assets. At a reception celebrating the deal earlier this week, we snapped Virginia Heritage CEO David Summers with EagleBank CEO Ron Paul.