1 Reason Smart Investors Are Watching Walker & Dunlop
The pandemic didn't stop mortgage finance companies from posting record profits in 2020. Low rates were a tailwind to many in the industry, including Walker & Dunlop (NYSE: WD), PennyMac Financial Services, and Mr. Cooper Group. Record low mortgage rates were welcomed by these lenders, which resulted in a record number of refinancings.
However, smart investors are closely watching Walker & Dunlop, particularly because of its laser focus on multifamily lending, and the opportunities presented in that space. With a wave of refinancing opportunities in the coming years, Walker & Dunlop is perfectly positioned to lead the way.
Walker & Dunlop is a leading lender focused on multifamily properties such as apartment complexes. This focus sets it apart from competitors in the single-family housing space. While single-family housing saw record refinancing activity, that record rate is not sustainable. According to Fannie Mae, mortgage refinance originations are expected to drop from an all-time high of $2.8 trillion in 2020 down to $2.2 trillion and $1.4 trillion in the next two years.
Source Fool.com
