Walker & Dunlop To Buy $3.8 Bln HUD Servicing Portfolio

(RTTNews) - Walker & Dunlop Inc. (WD) said that it has agreed to purchase the commercial mortgage servicing rights associated with a $3.8 billion servicing portfolio from Oppenheimer Multifamily Housing & Healthcare Finance, Inc. a subsidiary of Oppenheimer Holdings Inc. (OPY).

The portfolio is comprised of over 480 multifamily and healthcare loans insured by the U.S. Department of Housing and Urban Development or HUD. The acquisition is expected to close on June 20, 2016.

The company noted that it will be using available capital to fund the about $45 million purchase price.