Walker & Dunlop Hires Former FHA Commissioner to Lead HUD Loan Originations

Rhea-AI Summary

Walker & Dunlop has appointed Dana Wade as Chief Production Officer, focusing on FHA-backed loan originations and enhancing affordable housing financing. Wade, a former Commissioner of the Federal Housing Administration (FHA), oversaw significant projects including financing over 11,000 rental properties in FY 2020. Her expertise in managing a $1.4 trillion portfolio is expected to contribute positively to Walker & Dunlop's FHA production team, which has facilitated $17 billion in affordable housing lending over the past three years. Wade's leadership is anticipated to strengthen the company's market position.

Positive

• Dana Wade's extensive experience in affordable housing financing is expected to enhance Walker & Dunlop's FHA-backed loan originations.
• Wade's leadership is anticipated to bolster the company's focus on affordable housing, contributing to a significant $17 billion lending over the past three years.

Negative

• Concerns may arise regarding the continuity of leadership experience and potential integration challenges with Wade's new role.

BETHESDA, Md., March 1, 2021 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that Dana Wade has joined the firm as Chief Production Officer for all Federal Housing Administration (FHA)-backed loan originations with the U.S. Department of Housing and Urban Development (HUD). Ms. Wade will also be responsible for helping drive the company's affordable housing financing activities.

Ms. Wade previously served as the Commissioner of the Federal Housing Administration, which financed a total of over 11,000 rental properties and 3,000 mortgages for residential care facilities and hospitals during FY 2020.¹ In her role at the FHA, she was responsible for carrying out the agency's mission of providing affordable housing for moderate and low-income households, implementing enhanced risk management for FHA's $1.4 trillion portfolio, and leading over 2,400 employees.

Ms. Wade commented, "Walker & Dunlop is a leader in the commercial real estate finance industry, particularly as it relates to multifamily and affordable housing. I'm excited for this opportunity to join such a growth-oriented firm with an incredible culture and focus on people, brand, and technology."

Walker & Dunlop Chairman and CEO, Willy Walker, stated, "I am thrilled to have Dana join us. Her skills and expertise will immediately add value to Walker & Dunlop's FHA production team. Having a leader with Dana's skills augmenting our focus on affordable housing, which has accounted for $17 billion of Walker & Dunlop's lending over the past three years, will be extremely valuable to our clients and team members."

Sheri Thompson, Executive Vice President and FHA Finance Group Head, commented, "Dana has a proven track record, impressive qualifications, and the perfect personality to join Walker & Dunlop's leadership team. Her leadership and management skills will immediately help Walker & Dunlop maintain our position as one of the largest FHA multifamily lenders in the country, while also expanding our focus on affordable housing lending across all capital sources."

Prior to joining the FHA, Wade served as Associate Director at the Office of Management and Budget, where she led budget oversight for six Executive Branch agencies with a focus on financial services, including HUD and multiple independent agencies. Ms. Wade also held senior roles in Congress, including Deputy Staff Director for the Senate Committee on Banking, Housing, and Urban Affairs and Deputy Staff Director for the Senate Committee on Appropriations. Dana graduated from Georgetown University with a bachelor's degree in economics and earned an MBA from the Wharton School at the University of Pennsylvania.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 1,000+ professionals in 41 offices across the nation have an unyielding commitment to client satisfaction.

¹ FHA.gov, as of September 30, 2020

View original content to download multimedia:http://www.prnewswire.com/news-releases/walker--dunlop-hires-former-fha-commissioner-to-lead-hud-loan-originations-301237114.html

SOURCE Walker & Dunlop, Inc.

FAQ

Who is Dana Wade and what role has she taken at Walker & Dunlop?

Dana Wade has joined Walker & Dunlop as Chief Production Officer, focusing on FHA-backed loan originations and expanding affordable housing financing.

What was Dana Wade's previous position before joining Walker & Dunlop?

Before joining Walker & Dunlop, Dana Wade served as the Commissioner of the Federal Housing Administration (FHA), overseeing significant affordable housing financing projects.

How much has Walker & Dunlop lent for affordable housing in recent years?

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

What impact is Dana Wade expected to have on Walker & Dunlop's FHA production team?

Dana Wade's expertise is expected to enhance the FHA production team and strengthen the company's position in the affordable housing market.