Walker & Dunlop Reinforces Affordable Lending Commitment with Addition of Affordable Housing Chief Production Officer

Rhea-AI Summary

Walker & Dunlop has appointed John Ducey as its Affordable Chief Production Officer to enhance its affordable housing financing across the U.S. Ducey brings extensive experience, having previously worked at Fannie Mae, where he was responsible for LIHTC equity investments. The company's goal is to originate $60 billion in affordable housing volume over the next five years, reinforcing its commitment to tackling the affordable housing crisis. With $17 billion in affordable financing volume over the last three years, Walker & Dunlop is a leader in the sector.

Positive

• Appointment of John Ducey as Affordable Chief Production Officer to strengthen affordable housing financing.
• Ambitious goal to originate $60 billion in affordable housing volume over five years.
• Walker & Dunlop's position as one of the largest affordable housing lenders in the U.S. with $17 billion financed in the last three years.

Negative

• None.

BETHESDA, Md., May 11, 2021 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it has hired John Ducey as Affordable Chief Production Officer. Mr. Ducey will lead Walker & Dunlop's affordable housing financing efforts across all capital sources, including Fannie Mae, Freddie Mac, and private capital providers as the company seeks to expand its affordable lending footprint across the United States.

Multifamily Executive Vice President, Don King, commented, "As the largest provider of capital to the multifamily industry in 2020, we are incredibly focused on building upon our leadership position in the affordable housing space, and we are thrilled to have John on board to lead our team's affordable financing efforts. John has extensive experience in the affordable housing sector, balanced between Low-Income Housing Tax Credit (LIHTC) equity investing and affordable lending and will be an invaluable asset as we focus on tax credit equity syndication services over time to supply owners and developers with much-needed LIHTC equity."

"Walker & Dunlop is extremely focused on being part of the solution to the affordable housing crisis in the United States through financing safe and affordable apartments across the country," stated Paula Pryor Chief Human Resources Officer. "As part of our long term Environmental, Social, and Governance objectives, we have set an ambitious goal to originate $60 billion of affordable and workforce housing volume over the next five years, and John will be instrumental in driving our team towards achieving that objective."

Prior to joining Walker & Dunlop, Mr. Ducey served as Director of Multifamily LIHTC Equity Investments at Fannie Mae, where he was responsible for investing LIHTC equity and managing the relationships with eight LIHTC Syndicators. He previously was part of the Multifamily Affordable Housing Credit group at Fannie Mae and utilized his extensive experience structuring and analyzing affordable housing transactions. John gained valuable affordable experience working at Prudential, Enterprise Community Investment and Muni Mae and began his career as an affordable housing developer at SOME, Inc. in Washington, DC.

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. Surpassing $41 billion of total transaction volume in 2020, Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. With 1,000 employees across every major U.S. market, Walker & Dunlop's people, technology, and customer insight have allowed it to grow faster than industry peers and deliver total shareholder return of over 800% in its first ten years as a public company.

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SOURCE Walker & Dunlop, Inc.

FAQ

What is the role of John Ducey at Walker & Dunlop?

John Ducey serves as Affordable Chief Production Officer, leading affordable housing financing efforts.

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

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

How much affordable financing has Walker & Dunlop provided in the last three years?

Walker & Dunlop has provided $17 billion in affordable financing over the past three years.

Who commented on the appointment of John Ducey?

Don King, the Multifamily Executive Vice President, commented on the appointment.

What is Walker & Dunlop's position in the multifamily industry?

Walker & Dunlop was the largest provider of capital to the multifamily industry in 2020.