Walker & Dunlop Expands Affordable Lending Team with Addition of Established Managing Director

Rhea-AI Summary

Walker & Dunlop, a leader in affordable housing finance, announced the addition of P.J. McDevitt as Managing Director to bolster its affordable housing team. McDevitt brings significant expertise, having originated nearly $1 billion in affordable housing transactions since 2018. His focus will be on driving national loan origination growth. The firm aims to achieve $60 billion in affordable and workforce housing volume over the next five years. Walker & Dunlop has financed $17 billion in affordable housing over the past three years, solidifying its position as a top non-bank lender.

Positive

• Addition of P.J. McDevitt as Managing Director enhances expertise in affordable housing finance.
• Target of originating $60 billion in affordable housing loans within five years demonstrates strong growth potential.
• Walker & Dunlop has a solid track record, financing $17 billion in affordable housing over the past three years.

Negative

• None.

BETHESDA, Md., Sept. 9, 2021 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it has grown its affordable housing finance team with the addition of P.J. McDevitt as Managing Director. Mr. McDevitt is focused on the affordable housing space and has extensive experience with the affordable housing finance products at Fannie Mae, Freddie Mac, the Department of Housing and Urban Development (HUD), and the Federal Housing Administration (FHA). Based in New Jersey, Mr. McDevitt will drive loan origination growth nationally to help address the country's significant need for affordable housing.

Senior Vice President and Chief Production Officer of Walker & Dunlop's affordable lending group, John Ducey, stated, "As exemplified by our recently-announced  agreement to acquire Alliant Capital, Walker & Dunlop remains focused on maintaining and growing its leadership position in the affordable housing sector. P.J.'s deep knowledge of affordable housing finance is a great addition to our already formidable and experienced affordable housing team."

Since 2018, Mr. McDevitt has been involved in the origination, underwriting, and closing of nearly $1 billion in affordable housing transactions. Prior to joining Walker & Dunlop, Mr. McDevitt served as a Director at Greystone, where he was responsible for the origination of affordable multifamily housing loans for five years. He previously held various positions with PNC, where he contributed his expertise as a Production Management Representative and Production Assistant. Mr. McDevitt began his career in commercial real estate at Walker & Dunlop as a Senior Analyst.

"I look forward to contributing to the firm's ambitious goal of originating $60 billion of affordable and workforce housing volume over the next five years," commented Mr. McDevitt. "Having begun my career at Walker & Dunlop, I am confident that the company's culture, brand, and technologically-enhanced financing platform will help further this objective."

Walker & Dunlop is one of the largest affordable housing lenders in the United States with $17 billion of affordable financing volume over the past three years. The firm has consistently been ranked one of the top non-bank affordable housing lenders in the country and is committed to providing safe and affordable housing to America's communities by financing affordable, workforce housing, and healthcare communities, which serve the country's most vulnerable populations.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work^® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.

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SOURCE Walker & Dunlop, Inc.

FAQ

What did Walker & Dunlop announce on September 9, 2021?

Walker & Dunlop announced the addition of P.J. McDevitt as Managing Director to strengthen its affordable housing finance team.

What is P.J. McDevitt's background?

P.J. McDevitt has extensive experience in affordable housing finance, having originated nearly $1 billion in transactions since 2018.

What is Walker & Dunlop's goal for affordable housing financing?

Walker & Dunlop aims to originate $60 billion in affordable and workforce housing loans over the next five years.

How much affordable housing has Walker & Dunlop financed recently?

Walker & Dunlop has financed $17 billion in affordable housing over the past three years.