Walker & Dunlop at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C grade breaks down
Each component is a percentile rank among 220 investment-property lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
42nd6.2% deniedProcesswithdrawn + incomplete share, weight 15%
21st14.0%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 848 | 661 | 7.8% | 9.1% | 5.74% | $14B |
| 2024 | 825 | 664 | 6.2% | 7.1% | 5.65% | $15B |
| 2025 | 951 | 767 | 5.4% | 6.2% | 5.40% | $20B |
What Walker & Dunlop lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 951 investment properties.
Why Walker & Dunlop denies applications
Primary reason reported for each of the 51 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Where Walker & Dunlop lends
49 states and 365 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 110 | 85 | 5.5% | 5.37% | #424 |
| Texas | 87 | 59 | 11.5% | 5.20% | #587 |
| Florida | 65 | 56 | 3.1% | 5.30% | #560 |
| New York | 49 | 34 | 14.3% | 5.46% | #333 |
| Illinois | 40 | 34 | 2.5% | 5.58% | #491 |
| North Carolina | 35 | 29 | 5.7% | 5.29% | #446 |
| Wisconsin | 35 | 32 | 0.0% | 5.51% | #377 |
| Georgia | 34 | 32 | 0.0% | 5.43% | #501 |
| Washington | 34 | 31 | 2.9% | 5.26% | #332 |
| Tennessee | 30 | 27 | 0.0% | 5.74% | #480 |
| Ohio | 28 | 23 | 7.1% | 5.82% | #476 |
| New Jersey | 26 | 16 | 11.5% | 5.80% | #420 |
| Arizona | 25 | 18 | 0.0% | 5.31% | #399 |
| Colorado | 25 | 24 | 0.0% | 5.39% | #394 |
| Massachusetts | 24 | 21 | 4.2% | 5.23% | #399 |
| Michigan | 23 | 19 | 8.7% | 5.63% | #421 |
| Connecticut | 21 | 18 | 0.0% | 6.17% | #294 |
| Louisiana | 20 | 18 | 0.0% | 5.45% | #313 |
| Pennsylvania | 20 | 11 | 10.0% | 5.83% | #600 |
| Virginia | 20 | 14 | 15.0% | 5.39% | #492 |
| Oregon | 19 | 15 | 5.3% | 5.32% | #299 |
| South Carolina | 17 | 13 | 11.8% | 5.51% | #472 |
| Missouri | 16 | 13 | 6.3% | 5.49% | #461 |
| Maryland | 14 | 13 | 7.1% | 5.59% | #439 |
| Alabama | 13 | 9 | 0.0% | 5.31% | #444 |
| Oklahoma | 13 | 12 | 7.7% | 5.29% | #374 |
| Utah | 13 | 12 | 0.0% | 5.38% | #266 |
| Kentucky | 12 | 8 | 0.0% | 5.57% | #395 |
| Indiana | 11 | 10 | 0.0% | 5.50% | #537 |
| Nevada | 10 | 9 | 0.0% | 5.46% | #315 |
| Kansas | 9 | 9 | 0.0% | 5.14% | #355 |
| Mississippi | 7 | 4 | 28.6% | 5.55% | #304 |
| Arkansas | 5 | 4 | 20.0% | 5.40% | #411 |
| Nebraska | 5 | 4 | 0.0% | 5.22% | #308 |
Frequently asked questions
Walker & Dunlop denied 6.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 42nd percentile of investment-property lenders.
The most common reason Walker & Dunlop gave in 2025 was "collateral", cited on 62.7% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Walker & Dunlop originated in 2025 was 5.40%, and its median rate spread over the average prime offer rate was 0.00 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 26% of its applications were for home purchases, 70% for refinancing (including cash-out), and 4% for home improvement or other purposes. By loan type: 91% conventional, 9% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.