Loan Origination & Debt Brokerage Fees, Net was Walker & Dunlop’s largest product and service line in fiscal 2025, bringing in $342.15M of $1.23B (28%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Loan Origination & Debt Brokerage Fees, Net | $348.01M | $234.41M | $276.56M | $342.15M | ||
| Servicing Fees | $300.19M | $311.91M | $325.64M | $337.44M | ||
| Fair Value Of Expected Future Cash Flows From Servicing Rights, Net | $191.76M | $141.92M | $153.59M | $179.68M | ||
| Other Revenues | — | $117.97M | $118.20M | $109.79M | ||
| Other Revenue | $157.68M | — | — | — | ||
| Placement Fees & Other Interest Income | $52.83M | $154.52M | $167.96M | $152.58M | ||
| Escrow Earnings & Other Interest Income | — | — | — | — | ||
| Property Sales Broker Fees | $120.58M | $53.97M | $60.58M | $83.52M | ||
| Investment Management Fees | $71.93M | $45.38M | $36.98M | $34.63M | ||
| Net Warehouse Interest Income | — | — | — | — | ||
| Net Warehouse Interest Income (Expense) | $15.78M | -$5.63M | -$7.03M | -$5.49M | ||
| Total | $1.26B | $1.05B | $1.13B | $1.23B |
Walker & Dunlop brought in $1.23B from its eight product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 9.0% from $1.13B in fiscal 2024. Loan Origination & Debt Brokerage Fees, Net was the largest at $342.15M (27.7%), ahead of Servicing Fees at $337.44M (27.3%) and Fair Value Of Expected Future Cash Flows From Servicing Rights, Net at $179.68M (14.6%). The other four lines brought in $380.52M combined.
Compared with fiscal 2024, Property Sales Broker Fees grew fastest, up 37.9% to $83.52M, while Placement Fees & Other Interest Income fell the most, down 9.2% to $152.58M.
Walker & Dunlop began breaking out Other Revenues in fiscal 2023, when it brought in $117.97M. Walker & Dunlop stopped reporting Other Revenue as a separate line after fiscal 2022, when it brought in $157.68M. The total is net of Net Warehouse Interest Income (Expense), which took $5.49M off revenue in fiscal 2025.
Capital Markets was Walker & Dunlop’s largest segment in fiscal 2025, bringing in $646.95M of $1.23B (52%).
| Segment | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Capital Markets | $708.83M | $476.77M | $524.84M | $646.95M | ||
| Servicing & Asset Management | $507.43M | $563.84M | $591.65M | $566.56M | ||
| Corporate | $42.49M | $13.83M | $16.00M | $20.79M | ||
| Total | $1.26B | $1.05B | $1.13B | $1.23B |
Walker & Dunlop brought in $1.23B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 9.0% from $1.13B in fiscal 2024. Capital Markets was the largest at $646.95M (52.4%), ahead of Servicing & Asset Management at $566.56M (45.9%) and Corporate at $20.79M (1.7%).
Compared with fiscal 2024, Capital Markets grew 23.3% to $646.95M, while Servicing & Asset Management fell 4.2% to $566.56M. From fiscal 2022 to 2025, combined revenue from these segments fell from $1.26B to $1.23B, a compound annual decline of 0.7%. Capital Markets' share of the total fell from 56.3% to 52.4%.
Walker & Dunlop (WD) reports its revenue by product and service and by segment. In fiscal 2025, Loan Origination & Debt Brokerage Fees, Net was its largest product and service line, bringing in $342.15M (27.7% of the total), followed by Servicing Fees at $337.44M (27.3%).
Loan Origination & Debt Brokerage Fees, Net was Walker & Dunlop's largest product and service line in fiscal 2025, bringing in $342.15M, or 27.7% of the $1.23B total across its eight product and service lines.
Capital Markets was Walker & Dunlop's largest segment in fiscal 2025, bringing in $646.95M, or 52.4% of the $1.23B total across its three segments.
Among Walker & Dunlop's product and service lines that make up at least 2% of revenue, Property Sales Broker Fees grew fastest in fiscal 2025, up 37.9% from $60.58M to $83.52M.
Every figure comes from Walker & Dunlop's annual financial filings, as reported. Each line keeps the name Walker & Dunlop gives it, and years follow its fiscal calendar.
Walker & Dunlop's revenue by product and service goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.